Car Insurance For Seniors In New Jersey: Cheapest And Best Providers
GEICO provides the cheapest car insurance for seniors in New Jersey, at an average annual rate of $1,248.
We’ve saved shoppers an average of $600 per year on their car insurance.
In New Jersey, seniors over the age of 65 are expected to grow at nearly four times faster than the rest of the population by 2030. Four out of five seniors continue to drive, which means that four out of five seniors in New Jersey need to find affordable car insurance.
Cheapest Car Insurance For Seniors In New Jersey
Finding affordable car insurance is crucial for seniors on a fixed income. The cheapest overall provider for seniors in New Jersey is GEICO, at an average annual premium of $1,248.
Use the table below to see the cheapest rates for seniors:
| Insurance Company | Average Annual Premium |
| GEICO | $1,248 |
| Palisades | $1,270 |
| State Farm | $1,588 |
| Progressive | $3,014 |
| Allstate | $1,640 |
Cheapest Car Insurance for Seniors Over 65 In New Jersey
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 $1,238.
Use the table below to view the cheapest rates for seniors over 65.
| Insurance Company | Average Annual Premium |
| GEICO | $1,238 |
| Palisades | $1,340 |
| State Farm | $1,610 |
| Progressive | $3,215 |
| Allstate | $1,717 |
Cheapest Car Insurance In New Jersey For Seniors Over 70
As drivers age, their insurance rates can increase due to perceived higher risk. However, New Jersey Manufacturers offers the lowest rates for seniors over 70, with an average annual premium of $1,148. New Jersey Manufacturers’ 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 New Jersey.
| Insurance Company | Average Annual Premium |
| New Jersey Manufacturers | $1,148 |
| GEICO | $1,240 |
| Progressive | $3,240 |
| State Farm | $1,648 |
| Allstate | $1,726 |
Cheapest Car Insurance for Seniors Over 75
For seniors over 75, GEICO remains a top contender, offering an average annual premium of $1,260.
You can check out average rates from other providers below.
| Insurance Company | Average Annual Premium |
| GEICO | $1,260 |
| Palisades | $1,624 |
| State Farm | $1,699 |
| Progressive | $3,221 |
| Allstate | $1,972 |
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 $1,435, thanks to its various senior discounts.
View the cheapest insurance rates for seniors over 85 below.
| Insurance Company | Average Annual Premium |
| GEICO | $1,435 |
| Mercury Insurance | $1,572 |
| State Farm | $1,452 |
| Progressive | $1,901 |
| Allstate | $2,014 |
Cheapest Car Insurance for Seniors with a Ticket In New Jersey
A driving ticket can significantly increase insurance rates. State Farm offers the lowest rates for seniors with a ticket, averaging $2,426 annually.
Based on my analysis, these are the cheapest rates for seniors with a ticket in New Jersey.
| Insurance Company | Average Annual Premium |
| State Farm | $2,426 |
| Mercury | $3,170 |
| Progressive | $2,968 |
| Allstate | $2,290 |
| Farmers | $4,381 |
Cheapest Car Insurance for Seniors In New Jersey with a DUI
Having a DUI on record drastically affects insurance premiums. GEICO offers the most affordable rates for seniors with a DUI, with an average annual premium of $2,840.
Based on my findings, these are the cheapest rates for seniors with a DUI.
| Insurance Company | Average Annual Premium |
| GEICO | $2,840 |
| State Farm | $6,820 |
| Progressive | $2,976 |
| Travelers | $3,550 |
| Mercury | $3,890 |
Cheapest Car Insurance for Seniors In New Jersey After an Accident
Post-accident insurance rates can be high. State Farm offers the best rates for seniors after an accident, with an average annual premium of $2,890.
Check out the below table, which shows the cheapest average rates for seniors with an accident on their record.
| Insurance Company | Average Annual Premium |
| State Farm | $2,890 |
| Travelers | $3,716 |
| Progressive | $3,640 |
| Allstate | $4,398 |
| Mercury | $5,013 |
How Much is Car Insurance for Seniors in New Jersey?
Car insurance rates for seniors in New Jersey are based on factors like age, health, vehicle, discounts, and coverage level. As seniors get older, they tend to face higher premiums because of age-related risks. Thankfully, there are several discounts and programs that can help save money on car insurance.
Seniors in New Jersey typically incur an annual cost of $1,500 to $2,500 for full coverage. This estimate accounts for various discounts and coverage options. The table below presents the average yearly costs for five popular providers for seniors in New Jersey.
| Insurance Company | Average Annual Premium |
| GEICO | $1,248 |
| Palisades | $1,270 |
| State Farm | $1,588 |
| Progressive | $3,014 |
| Allstate | $1,640 |
Factors Influencing Senior Car Insurance Rates In New Jersey
Car insurance rates for New Jersey seniors will vary both positively and negatively based on several factors.
- Age is the first factor. The older you are, the more likely you are to see an increase in premiums, especially after the age of 70.
- Driving record is the second factor. Those with a good driving record, free from claims, accidents, and moving violations, are more likely to see a drop in their premiums.
- New Jersey insurance providers pay particular attention to credit scores. Seniors who want to decrease their premiums should work on moving their credit score to the next tier.
- Discounts can help reduce senior car insurance rates in New Jersey, and there are several available discounts for seniors depending on the insurance provider.
- Location can also influence your cost. Bergen, Ocean, Essex, Middlesex, and Monmouth are the five counties with the largest populations of seniors over the age of 65, and those who live in heavily populated areas are more likely to face increased risks of things like traffic accidents and car theft, which increases premiums.
Understanding each of these factors can help New Jersey seniors find affordable car insurance.
Why Do Car Insurance Rates Increase For Seniors in New Jersey?
Seniors in New Jersey will see higher car insurance rates, especially after the age of 7,0, because of the severe risks associated with age, like higher accident risks and health problems.
Higher Accident Risk
Crash data indicates that 13% of all fatal car accidents in New Jersey in 2020 had drivers over the age of 65. This risk was significantly increased for drivers over the age of 75. The traffic fatality rate for those over the age of 85 was higher than all other age groups in New Jersey.
In terms of car accidents, poor reaction times, health issues, and declining awareness mean that New Jersey seniors have caused a recent spike in car accidents compared to all other age groups.
This higher accident risk means insurance companies charge more for premiums.
Health Problems
Tangentially, the higher rates of car accidents and car accident fatalities among seniors in New Jersey are in large part due to age-related health issues.
The New Jersey Hospital Association says that 57.4% of those over the age of 65 have eight or more chronic conditions. These common issues include things like:
- Osteoarthritis
- Cataracts
- Hearing loss
- Diabetes
- Dementia
Several of these health problems come with an increased risk of medication that can cause symptoms detrimental to effective and safe driving. Moreover, the increased health problems lead to a higher risk of injury severity.
Higher Injury Severity
Seniors in New Jersey are more likely to sustain severe injuries even from minor car accidents, which increases the risk and insurance premiums.
Claim Frequency
New Jersey seniors are more likely to file claims more frequently because of the higher accident risk and higher injury severity. This risk of higher claim frequency leads to higher premiums.
How Can Seniors in New Jersey Save On Car Insurance?
Seniors in New Jersey can save on their car insurance by applying discounts, reviewing coverage, and more.
Apply Discounts
In New Jersey, there are three categories of discounts that can be applied to a car insurance policy:
- The first are policy discounts
- The second are driver discounts
- The third are vehicle discounts
Policy discounts are things that reward your behavior, like combining multiple Insurance products under the same policy. Driver discounts are those that reward having a clean driving record or making it easier to provide you with insurance coverage. Vehicle discounts are those that keep your vehicle safer.
Review and Adjust Coverage
Seniors should regularly review their insurance needs and adjust their coverage accordingly. If, for example, you have purchased a new car with additional safety features or installed an anti-theft system, you’ll want to provide this information to your insurance in order to get appropriate discounts, but you can also shop around to see if someone else has a better discount based on your changing circumstances.
Shop Around
Insuranceopedia is a resource to help people in New Jersey find affordable insurance and to allow seniors to look at insurance coverage based on their needs.
Boost Your Credit Score
Seniors in New Jersey who have a poor credit score pay an average of 37% to upwards of 68% more for their car insurance compared to drivers with good credit scores.
Tip: Seniors in New Jersey who improve their credit rating by a single tier can save an average of 17% off their car insurance premiums.
Install Safety Devices
Installing safety devices, especially simple measures like anti-theft devices, can save upwards of 25% on car insurance for seniors in New Jersey.
Consider Affinity Groups
New Jersey has several discounts for affinity groups.
- Members of the New Jersey State Nurses Association and the New Jersey Society of Certified Public Accountants can receive discounts on car insurance from several companies.
- Group Partnerships with employees’ specific programs can receive discounts from Plymouth Rock Assurance in New Jersey.
- Travelers Insurance provides discounts for employees or members of participating credit unions, associations, and businesses.
Ask About Senior Discounts
When you ask your insurance providers about potential affinity group discounts, be sure to ask about age-related discounts.
Car Insurance Discounts For Seniors in New Jersey
Several car insurance companies offer discounts for seniors. These are based on different factors and offer potential savings anywhere between 2% and 30% depending on the company.
Driving Record
Having a clean driving record can save you up to 30%.
Continual Insurance
In addition to loyalty discounts, which can save you up to 10%, being continually insured for 6 months or longer can also give New Jersey seniors savings up to 25%.
Defensive Driving Courses
Participation in approved defensive driver courses is available to New Jersey seniors 50 years or older, and it can provide savings of up to 10% for 3 years. These programs are generally 6 hours long and can be retaken every 3 years. Completion of the course will result in certification that gets sent to your insurance provider. The insurance discount you get varies from provider to provider.
Low Mileage Discounts
Seniors who do not use their vehicles regularly can get low-mileage discounts.
Driving Record
New Jersey seniors who have a clean record and no history of car insurance claims can get savings between 10% and 30% off their current premiums.
Tip: In some cases, it might save you money to pay for something out of pocket rather than file a claim, especially if that claim would increase your premiums.
Multi-Car Discounts
New Jersey seniors can get additional discounts by bundling the same type of policy, like several cars under the same insurance product.
Multi-Policy Discounts
Seniors who combine multiple insurance products under the same policy can save up to 30% in New Jersey.
Safe Driver Discounts
These can save drivers up to 30% if they have their driving habits monitored by a smartphone or connected electronic devices.
Homeownership
Companies like NJM, Plymouth Rock, and Travelers will give discounts on car insurance to seniors who own their homes.
Paperless
Many providers of car insurance in New Jersey can give seniors discounts when they sign up for paperless billing.
Similarly, setting your policy up for automatic payments, paying online, or paying for a full year rather than month to month can save up to 25% on policies in New Jersey.
Good Student
You might not be in school, but if you have a grandchild who is, they can get a discount on premiums by maintaining a high GPA and a good driving record. For New Jersey, young drivers who keep a B average or higher are eligible for discounts up to 20%.
Vehicle Safety Devices
Seniors in New Jersey who install safety features or anti-theft systems can get discounts up to 30% on their premiums. This extends to features like:
- Daytime running lights
- Anti-lock brakes
- Multiple airbags
- Lojack
- Steering wheel locks
- Car alarms
Group Discounts
Several insurance providers give discounts for membership in specific groups, including the AARP, military organizations, government organizations, and educational organizations.
Loyalty
Seniors who remain with the same car insurance provider in New Jersey long-term can receive savings up to 10%.
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.
| State | Average Annual Premium |
| Alabama | $1,750 |
| Alaska | $1,890 |
| Arizona | $1,920 |
| Arkansas | $1,860 |
| California | $1,919 |
| Colorado | $2,150 |
| Connecticut | $2,020 |
| Delaware | $2,100 |
| Florida | $2,300 |
| Georgia | $1,980 |
| Hawaii | $1,700 |
| Idaho | $1,760 |
| Illinois | $1,870 |
| Indiana | $1,800 |
| Iowa | $1,720 |
| Kansas | $1,840 |
| Kentucky | $2,010 |
| Louisiana | $2,450 |
| Maine | $1,690 |
| Maryland | $2,080 |
| Massachusetts | $2,000 |
| Michigan | $2,500 |
| Minnesota | $1,950 |
| Mississippi | $1,830 |
| Missouri | $1,810 |
| Montana | $1,880 |
| Nebraska | $1,910 |
| Nevada | $2,200 |
| New Hampshire | $1,740 |
| New Jersey | $2,220 |
| New Mexico | $1,900 |
| New York | $2,300 |
| North Carolina | $1,760 |
| North Dakota | $1,890 |
| Ohio | $1,720 |
| Oklahoma | $1,870 |
| Oregon | $1,980 |
| Pennsylvania | $2,100 |
| Rhode Island | $2,230 |
| South Carolina | $2,050 |
| South Dakota | $1,930 |
| Tennessee | $1,750 |
| Texas | $2,100 |
| Utah | $1,880 |
| Vermont | $1,710 |
| Virginia | $1,790 |
| Washington | $1,950 |
| West Virginia | $1,930 |
| Wisconsin | $1,780 |
| Wyoming | $1,850 |
Our methodology
To evaluate car insurance companies for seniors in New Jersey, we use a comprehensive methodology that considers several critical factors. We compare average annual and monthly premiums, focusing on various age groups and driving records. Discount availability is assessed, including discounts for defensive driving courses, low mileage, and bundling policies.
Customer satisfaction scores from sources like J.D. Power and Consumer Reports are analyzed to gauge the overall customer experience, while financial stability is evaluated using ratings from agencies such as A.M. Best and Standard & Poor's. We also examine the range of coverage options and special programs tailored to seniors, like usage-based insurance programs.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
What insurance company has the cheapest rates for seniors?
GEICO generally offers the cheapest rates for seniors, with an average annual premium of around $1,248. They provide competitive pricing and various discounts tailored to older drivers.
Do car insurance rates go down when you retire?
Car insurance rates may go down when you retire if you drive fewer miles. Many insurers offer low mileage discounts, which can help reduce premiums for retired individuals who no longer commute daily.
Do car insurance premiums increase after 65?
Yes, car insurance premiums often increase after 65. This is due to factors like slower reflexes, increased accident risk, and higher medical costs associated with injuries, which lead insurers to raise rates for older drivers.
