Car Insurance For Seniors In Michigan: Cheapest And Best Providers

Michigan has one of the oldest populations across the United States. 37% of residents in Michigan are over the age of 50, and those over the age of 85 are growing significantly, with seniors representing nearly 25% of the active driving population across the state.

As such, it is important for licensed senior drivers in Michigan to find a way to reduce car insurance costs, especially as these figures are continuing to increase by 1/3 roughly every 10 years.

Cheapest Car Insurance For Seniors In Michigan

Finding affordable car insurance is crucial for seniors on a fixed income. The cheapest overall provider for seniors in Michigan is GEICO, at an average annual premium of $1,305.

Use the table below to see the cheapest rates for seniors:

Cheapest Car Insurance for Seniors Over 65 In Michigan

For seniors over 65, insurance rates can vary based on driving habits and health. GEICO offers the best rates for this age group, with an average annual premium of $1,270.

Use the table below to view the cheapest rates for seniors over 65.

Cheapest Car Insurance In Michigan For Seniors Over 70

As drivers age, their insurance rates can increase due to perceived higher risk. However, Progressive offers the lowest rates for seniors over 70, with an average annual premium of $1,360. Progressive’s policies are tailored to senior drivers, providing affordable and comprehensive coverage.

Check out the below table to view the cheapest over-70 car insurance rates in Michigan.

Cheapest Car Insurance for Seniors Over 75

For seniors over 75, Progressive remains a top contender, offering an average annual premium of $1,521.

You can check out average rates from other providers below.

Cheapest Car Insurance for Seniors Over 85

For seniors over 85, insurance rates tend to be higher due to increased health risks and potential for accidents. However, GEICO offers competitive rates, with an average annual premium of $1,938, thanks to its various senior discounts.

View the cheapest insurance rates for seniors over 85 below.

Cheapest Car Insurance for Seniors with a Ticket In Michigan

A driving ticket can significantly increase insurance rates. USAA offers the lowest rates for seniors with a ticket, averaging $2,160 annually.

Based on my analysis, these are the cheapest rates for seniors with a ticket in Michigan.

Cheapest Car Insurance for Seniors In Michigan with a DUI

Having a DUI on record drastically affects insurance premiums. Progressive offers the most affordable rates for seniors with a DUI, with an average annual premium of $2,180.

Based on my findings, these are the cheapest rates for seniors with a DUI.

Cheapest Car Insurance for Seniors In Michigan After an Accident

Post-accident insurance rates can be high. Progressive offers the best rates for seniors after an accident, with an average annual premium of $2,540.

Check out the below table, which shows the cheapest average rates for seniors with an accident on their record.

How Much is Car Insurance for Seniors in Michigan?

The cost of car insurance for seniors in Michigan can vary for drivers based on their:

1. Vehicle type
2. Driver history
3. Coverage level
4. Age

The older you get, the more expensive insurance becomes, particularly after the age of 70. However, many insurance providers offer programs and discounts to mitigate these costs.

Typically, Michigan senior drivers pay between $1,500 and $2,500 annually for full coverage. This range is due to various discounts and coverage levels. Below is a table that shows the average annual costs for five prominent providers for seniors in Michigan.

Factors Influencing Senior Car Insurance Rates In Michigan

Car insurance rates for seniors in Michigan are influenced by several factors.

1. Age: Premiums often increase with age, especially after 70, in large part because of higher health risks and accident risks.
2. Driving Record: A clean driving history can help lower insurance rates, while a record of accidents and moving violations can increase rates.
3. Mileage: Seniors who drive less often can often save money with usage-based programs.
4. Coverage Level: The overall premiums for Michigan seniors are influenced by the balance of liability, collision, and comprehensive coverage.
5. Discounts: Various discounts, including those for safe driving, bundling, and loyalty, may be available.

Seniors in Michigan can find affordable car insurance suitable to their needs by understanding these factors and comparing different rates.

Why Do Car Insurance Rates Increase For Michigan Seniors?

Car insurance rates will increase for Michigan seniors, especially after age 70, due to several age-related factors.

Higher Accident Risk

In Michigan, drivers over the age of 65 were responsible for over 11% of all accidents in 2022. Nearly 16% of drivers in fatal car accidents were over the age of 65.

The higher risk of accidents and involvement in accidents with bicyclists or pedestrians because of visibility issues or slower response times means that insurance companies charge more for premiums.

Health Problems

Older adults in Michigan have a much higher prevalence of obesity and preventable hospitalizations. This higher risk of health issues in those who are 65 or older means that senior drivers are more likely to be prescribed medications for chronic conditions that could cause drowsiness, dizziness, and other symptoms impacting driving ability.

Combined with things like slower reflexes and visibility problems that can result from conditions like obesity, there is a higher risk that health problems will impede driver safety in seniors.

Higher Injury Severity

12.5% of all people injured in car accidents were over the age of 65, and those who receive injuries are more likely to have severe injuries that take longer to recover from and require additional hospitalizations, which increases the potential insurance costs.

Claim Frequency

Older drivers in Michigan are more likely to be involved in accidents because of things like:

1. Failure to yield
2. Disregard for traffic control
3. Improper lane usage
4. Improper turns
5. Improper backing up

All of these hazards mean that senior drivers in Michigan are more likely to be involved in claims for property damage as well as car accidents. This increased risk means higher premiums.

How Can Seniors in Michigan Save On Car Insurance?

Michigan seniors can save on car insurance by maintaining good credit scores and safe driving records, using discounts to their advantage, and more.

1. Take Advantage of Discounts

There are several types of discounts available for seniors in Michigan that can help save money on car insurance. Below are some examples:

• Drive Safe & Save
• Anti-theft device discounts
• Accident-free record discounts
• Good driver discounts
• Anti-theft device discounts
• Multiple policy discounts
• Group discounts

2. Review and Adjust Coverage

Michigan seniors can adjust their coverage by participating in usage-based programs, reducing coverage on older cars, and increasing deductibles to help lower premiums.

For example, if you can cover the cost of basic claims within your budget, increasing your deductible is a quick way to lower your premiums.

3. Shop Around

Insuranceopedia can help you compare quotes from several providers. Remember that each insurance provider in Michigan has unique criteria used to calculate premiums, so if you take the time to shop around, you might find significant savings based on things like your credit score, geographic location, and group affiliation.

4. Maintain a Good Credit Score

Michigan State Legislature says that auto insurance companies cannot use your credit score as the exclusive measure for setting your premiums. They also cannot use a credit score to cancel, refuse, or deny coverage.

That said, they can use your credit information to determine how much your premiums will be. Insurance companies in Michigan have to disclose that they are obtaining your credit information prior to any new application, and they use this information to predict the likelihood that seniors will file a claim.

Those with higher credit scores are statistically less likely to file claims, and given the fact that seniors are more likely than other age groups to file claims with increased frequency, this can directly influence your premiums.

5. Install Safety Devices

Safety devices installed on your vehicle or new vehicles purchased with safety devices can significantly decrease insurance rates for seniors in Michigan.

6. Consider Group Insurance

If you are a member of a specific group or organization, companies like Geico offer several discounts, as do organizations like the AARP.

7. Ask About Senior Discounts

As you get older, there might be more senior discounts available to you based on your age. Geico, for example, offers a program for those who are over the age of 55, so once you reach this threshold, ask about senior discounts.

8. Regularly Review Insurance Needs

As you get older, your needs might change, especially if you retire or no longer use a vehicle for commuting purposes. Regularly review your insurance needs to see whether you don’t need the coverage you have or whether you need to add something.

For example, if you have additional coverage like rental car reimbursement add-ons, that can cost you an average of $65 per year in Michigan, and it typically comes with policy limits and rental coverage limits. If you have other means of transportation or you have money set aside to cover the cost of a rental car temporarily, you might be able to save that $65 per year by getting rid of this add-on.

Car Insurance Discounts For Seniors in Michigan

Many car insurance providers offer special discounts for Michigan seniors. Here are some of the most common:

Defensive Driving Courses

Michigan offers several self-directed courses that generally take around 4 hours to complete. After completion, you show your certificate to your insurance provider and receive discounts applicable for 3 years.

Usage/Pay-Per-Mile Programs

In Michigan, Nationwide Mutual Insurance provides the SmartMiles program, which is a pay-per-mile insurance program that could potentially lower your monthly premiums, especially if you drive less than 10,000 miles per year.

The usage-based programs consist of two parts:

1. First is the base rate, which is an average of $35 per month
2. Second is the variable cost per mile, which varies from month to month depending on how much you drive

Low Mileage Discounts

Other companies like State Farm provide low-mileage discounts for those who drive less than 7,500 miles per year. This works a little differently compared to the usage-based programs, and instead of offering two parts, you get your regular premium and then a percentage discount off that premium for low mileage.

Driving Behavior

Your driving behavior can provide discounts as well. Companies like State Farm provide a good driving discount for all drivers who have had no moving violations or at-fault accidents for the last 3 years.

This gets verified each time an application is submitted for coverage.

However, certain companies like State Farm change the discount after you have remained with the company for 3 years, replacing a good driver discount with something called the accident-free discount.

Other car insurance providers in Michigan will give similar discounts for seniors who install monitoring devices on their cars to verify safe driving behavior.

Bundling

Michigan seniors who get coverage on more than one vehicle from the same provider or bundle other products like homeowners insurance with car insurance can get significant savings on all policies.

Good Student

If your grandchild is on your car insurance policy, maintaining a good GPA can lead to substantial discounts on their premiums.

Vehicle Safety Devices

Seniors in Michigan can save on their car insurance with vehicle safety discounts. Modern vehicles can get a discount based on the types of safety devices installed in that vehicle, especially things that can help seniors overcome age-related risks, like lane assist features.

Group Discounts

There are several ways that participation in a senior-based group, like the AARP, a professional organization, or an educational institution, can provide discounts. The AARP provides a car insurance program through The Hartford, which offers up to 10% off premiums plus discounts for things like bundling auto and home policies or getting quotes online.

Loyalty

Several companies operating in Michigan provide competitive discounts for things like loyalty. This usually requires that you remain with the same company for several years before it goes into effect.

Car Insurance Rates for Senior Drivers By U.S. State

Finding the most affordable car insurance is essential for senior drivers, who often face different challenges and risks on the road. This section provides a comprehensive overview of the cheapest car insurance rates for seniors in each state, along with the insurance carrier offering these competitive rates.

By comparing these options, senior drivers can make informed decisions that ensure both affordability and adequate coverage.