Most drivers expect their car insurance costs to drop steadily as they age and gain experience, and that’s true up until a certain age. But your rates are likely to start creeping up once you hit 60.
According to recent data from The Zebra’s analysis of over 32 million car insurance quotes, drivers in the U.S. see their premiums rise by an average of 32% between ages 60 and 80.
That translates to a jump from an average of $1,934 annually at age 60 to $2,545 by age 80, a difference of more than $600 per year.
The increases aren’t dramatic at first. You might notice a small bump around 65 or 70, but the steeper climbs typically kick in during your 70s and beyond.
Here are the average annual premiums by age from 60 to 80, according to The Zebra’s analysis:
- 60: $1,934
- 61: $1,934
- 62: $1,936
- 63: $1,941
- 64: $1,948
- 65: $1,977
- 66: $1,994
- 67: $2,007
- 68: $2,022
- 69: $2,039
- 70: $2,089
- 71: $2,132
- 72: $2,155
- 73: $2,182
- 74: $2,211
- 75: $2,290
- 76: $2,357
- 77: $2,405
- 78: $2,438
- 79: $2,480
- 80: $2,545
For those still driving at 89, average rates reach $2,830, another 11% increase from age 80.
Location plays a role in rates as well.
Ohio drivers face the steepest climb, with rates surging 53% on average from $1,377 per year at age 60 to $2,103 at age 80.
Connecticut drivers can see an average increase in rates of 52% between the ages of 60 and 80. For Utah drivers, it’s 50%.
At the other end of the spectrum, here are the states where drivers see the lowest increases in insurance rates as they age:
- North Carolina: 1%
- Maryland: 9%
- Louisiana: 10%
And some states — California, Hawaii and Massachusetts — actually prohibit insurers from using age as a rating factor, though other factors still affect premiums.
Insurance companies base their pricing on risk, and the data shows older drivers face unique challenges on the road.
While seniors typically drive more cautiously than younger motorists, physical changes can affect driving safety. Reaction times may slow, vision might deteriorate and medical conditions can impact driving performance.
The Zebra’s report cites data from National Safety Council Injury Facts showing that fatal car crashes per 100,000 licensed drivers increase after age 74. And when older drivers are involved in accidents, the injuries tend to be more severe, leading to pricier medical claims.
The Zebra says rates are based on sample driver profiles for drivers in their 60s, 70s and 80s and driving a Honda Accord with full coverage at the following levels:
- $50,000 per person/$100,000 per incident for bodily injury liability
- $50,000 per incident for property damage liability
- $500 deductible for comprehensive and collision coverage
Keeping costs in check
For seniors living on fixed incomes, these increases can strain budgets. But several strategies can help manage rising premiums.
Shopping around remains crucial. Insurance companies weigh age-related risk differently, so compare quotes and look for savings opportunities. Many insurers also offer senior-specific discounts that younger drivers can’t access.
If you’re driving less in retirement, consider pay-per-mile insurance policies that charge based on actual miles driven rather than traditional flat rates.
Regular policy reviews help too. As your driving habits change, adjusting coverage levels might make sense.
Raising deductibles can also lower premiums, though you’ll need to balance potential savings against your ability to cover higher out-of-pocket costs after an accident.
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