The make and model of vehicle you are insuring is one of the primary factors when consumers are trying to find affordable insurance for drivers over age 70. Vehicles with more horsepower, poor safety ratings, or high incidents of liability claims will cost much more to insure than safer, lower-performance models. The information below presents car insurance prices for a selection of the cheaper automobiles to buy insurance for.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$1,220|
|Honda Accord LX 4-Dr Sedan||$1,225|
|Honda CR-V EX-L 4WD||$1,238|
|Jeep Wrangler Sport Islander Package 4WD 2-Dr||$1,351|
|Ford Explorer Eddie Bauer 2WD||$1,369|
|Dodge Grand Caravan CV||$1,376|
|Ford Focus SE 4-Dr Sedan||$1,428|
|Ford Edge SEL AWD||$1,436|
|Chevrolet Impala LS||$1,428|
|Ford Fusion S 4-Dr Sedan||$1,446|
|Volkswagen Jetta S 4-Dr Sedan||$1,453|
|GMC Sierra SL Extended Cab 2WD||$1,446|
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Prices based on single male driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Information does not factor in specific location information which can affect insurance rates considerably.
By looking at the data, vehicles like the Ford Escape, Honda Accord, Honda CR-V, Toyota Prius, and Jeep Wrangler will be some of the most affordable vehicles to insure for older drivers. Rates will tend to be higher because there is a higher risk for drivers over age 70, but overall those particular models will tend to have the best insurance prices possible.
One of the many considerations that are looked at to determine auto insurance rates is your address in Greensboro. Areas with more people or higher crime rates will most likely pay more, whereas areas with lower crime rates and fewer weather claims have the benefit of cheaper car insurance.
The table below lists the most expensive cities in North Carolina for drivers over age 70 to buy car insurance in. Greensboro ranks #5 with a yearly premium of $779 for car insurance, which is about $65 each month.
|Rank||City||Average Per Year|
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Premium amounts are approximated as specific location information can alter premium rates considerably.
Cost of full coverage in Greensboro
Paying less for auto insurance is probably important to the majority of vehicle owners, and one great way to buy cheap insurance for drivers over age 70 is to buy only liability coverage. The diagram below shows the difference between insurance costs when comparing full coverage to liability only. The premium estimates are based on no claims or driving violations, $100 deductibles, marital status is single, and no policy discounts are applied.
Averaged out for all age groups, physical damage insurance costs $1,918 per year over liability only. Many of you may wonder if it’s a good idea to buy full coverage. There is no definitive formula to stop paying for physical damage insurance, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s replacement cost is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $3,000 after paying the physical damage deductible. If you are paying in excess of $300 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are some cases where eliminating full coverage is not in your best interest. If you have an outstanding loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.
Get discounts on Greensboro auto insurance rates
Insurance companies that provide coverage for drivers over age 70 may additionally offer special discounts that could lower prices by as much as 35% or more if you qualify. Larger auto insurance companies and their offered discounts can be read below.
- State Farm has discounts for safe vehicle, accident-free, multiple policy, Drive Safe & Save, good student, student away at school, and multiple autos.
- Nationwide may include discounts for business or organization, family plan, multi-policy, good student, Farm Bureau membership, easy pay, and accident-free.
- GEICO offers discounts for membership and employees, military active duty, emergency military deployment, driver training, multi-policy, and multi-vehicle.
- AAA discounts include education and occupation, anti-theft, good student, pay-in-full, multi-car, good driver, and AAA membership discount.
- 21st Century offers premium reductions for student driver, early bird, anti-lock brakes, teen driver, 55 and older, theft prevention, and air bags.
- The Hartford offers discounts including good student, driver training, defensive driver, bundle, vehicle fuel type, and air bag.
The information below compares car insurance costs with and without discounts applied. The rates are based on a female driver, a clean driving record, no claims, North Carolina state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with anti-theft, multiple policy, safe-driver, multiple vehicle, claim-free, and defensive driving course discounts applied. When these discounts are applied, theamount saved on auto insurance for drivers over age 70 is 27% or $309.
Careless Greensboro drivers pay higher rates
The best way to find the cheapest auto insurance rates in North Carolina for older drivers is to drive safely and avoid accidents and keep your driving record clean. The illustration below shows how traffic citations and accidents raise yearly insurance costs for each age group. The rate quotes are based on a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied.
In the previous example, the average cost of auto insurance in North Carolina per year with a clean driving record and no accidents is $1,053. Receive two speeding tickets and the average cost surges to $1,383, an increase of $330 each year. Then include one accident along with the two speeding tickets and the yearly cost of auto insurance for drivers over age 70 goes up to an average of $1,718. That’s an increase of $666, or $55 per month, just for not driving safely!
How to find cheaper auto insurance for drivers over age 70
The list below summarizes some of the better thrifty solutions that can help Greensboro drivers quote cheap auto insurance.
- Older vehicles may not need full coverage
- Higher deductibles mean lower rates
- Maintain a safe distance and avoid accidents
- Drive safely
- If possible, pay for small claims out-of-pocket
- Ensure you have the best deal by shopping around regularly
The last tip in the list is remarkably critical, as was pointed out in this article. Rates in Greensboro can change considerably based on profitability, so don’t be afraid to switch companies if a better deal can be had. Staying with the same car insurance company is fine, but it isn’t a good idea if that dedication is costing hundreds of dollars year after year. In less than five minutes you could compare prices and find cheaper car insurance for drivers over age 70.
If you prefer to have a little guidance when shopping around for cheaper insurance for drivers over age 70, the professional agents shown below can help you decide which car insurance company is the best fit.
To locate a Greensboro insurance agent by location nearest to you, click the link after the list.
State Farm: Ashley Collins
w ste b 27403, 1610 W Friendly Ave – Greensboro, NC 27403 – (336) 274-7900
Southeastern Agency Group Inc
1501 Highwoods Blvd # 301 – Greensboro, NC 27410 – (336) 218-7470
Allstate Insurance: Brad Williams
4125 Walker Ave C – Greensboro, NC 27407 – (336) 852-2627
Nationwide Insurance: John A Peterson Jr
1451 S Elm-Eugene St #2119 – Greensboro, NC 27406 – (336) 303-8992