The vehicle that needs insurance is a significant factor when shopping around for the cheapest coverage for seniors. Vehicles with average performance, modern passenger safety features, or a low likelihood of having liability claims will cost much less to insure than fast, unsafe models. The data below showcases insurance prices for a number of the most economical vehicles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $948 |
| Honda Accord LX 4-Dr Sedan | $956 |
| Honda CR-V EX-L 2WD | $973 |
| Toyota Prius | $1,057 |
| Dodge Grand Caravan CV | $1,067 |
| Ford Edge SEL 2WD | $1,101 |
| Chevrolet Silverado LS Regular Cab 2WD | $1,119 |
| Toyota Camry LE | $1,126 |
| Chevrolet Impala LT | $1,136 |
| Chevrolet Equinox LS 2WD | $1,126 |
| Toyota Tacoma Double Cab 4WD | $1,131 |
| Toyota RAV4 2WD | $1,126 |
| Nissan Altima 2.5 4-Dr Sedan | $1,135 |
| Ford Explorer Limited AWD | $1,151 |
| Ford F-150 FX4 4WD | $1,160 |
| Jeep Wrangler Unlimited Sport Islander Package 4WD 4-Dr | $1,158 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,166 |
| Honda Odyssey EX-L W/Navigation | $1,183 |
| Toyota Corolla XLE | $1,190 |
| Nissan Rogue SL 2WD | $1,203 |
| Kia Optima LX | $1,213 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,203 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $1,208 |
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Data based on married female driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, safe-driver, claim-free, multi-vehicle, and multi-policy. Rate information does not factor in Dallas, TX location which can revise price quotes greatly.
Based upon the table data, you can figure that models like the Ford Escape, Honda Accord, and Honda CR-V will be some of the cheapest vehicles to insure for senior citizens.
One of the more important things that aid in calculating the amount you pay each year for auto insurance is where you live in Dallas. Areas with a lot of weather claims or more people will most likely have higher rates, whereas areas with fewer weather claims and lower vehicle theft rates have the gratification of cheaper auto insurance rates.
The following table rates the most expensive areas in Texas for seniors to purchase a policy in. Dallas shows up at #2 having an annual price of $1,911 for coverage, which is approximately $159 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | McAllen | $1,936 |
| 2 | Dallas | $1,911 |
| 3 | Brownsville | $1,870 |
| 4 | Houston | $1,853 |
| 5 | Amarillo | $1,840 |
| 6 | Laredo | $1,833 |
| 7 | Garland | $1,796 |
| 8 | Pasadena | $1,794 |
| 9 | Grand Prairie | $1,793 |
| 10 | Irving | $1,789 |
| 11 | Mesquite | $1,771 |
| 12 | Beaumont | $1,720 |
| 13 | Lubbock | $1,716 |
| 14 | San Antonio | $1,688 |
| 15 | Austin | $1,676 |
| 16 | Arlington | $1,658 |
| 17 | Fort Worth | $1,653 |
| 18 | El Paso | $1,616 |
| 19 | Carrollton | $1,615 |
| 20 | Plano | $1,608 |
| 21 | Corpus Christi | $1,588 |
| 22 | McKinney | $1,561 |
| 23 | Waco | $1,522 |
| 24 | Killeen | $1,518 |
| 25 | Abilene | $1,499 |
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Table data uses comparative as specific location information can revise premiums noticeably.
The diagram below highlights how deductible selection can raise or lower insurance rates when researching cheap insurance for seniors. The data is based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.
A 50-year-old driver could lower rates by $362 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $546 by switching to a $1,000 deductible. Young drivers, like the 20-year-old example, could save as much as $920 annually by choosing a larger deductible amount.
When choosing a higher deductible, it’s a good idea to have plenty of discretionary funds to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
Get discounts on Dallas insurance rates
Auto insurance companies that sell policies for seniors may provide special discounts that could lower prices by as much as 25% or more if you meet specific eligibility requirements. Popular insurance companies and a selection of discounts include:
- State Farm may include discounts for Drive Safe & Save, multiple autos, good driver, multiple policy, and driver’s education.
- GEICO may have discounts that include federal employee, anti-lock brakes, daytime running lights, seat belt use, and multi-policy.
- SAFECO offers premium reductions for safe driver, anti-lock brakes, multi-car, anti-theft, drive less, accident prevention training, and bundle discounts.
- Farmers Insurance has savings for electronic funds transfer, good student, youthful driver, mature driver, and early shopping.
- AAA includes discounts for good driver, anti-theft, AAA membership discount, good student, pay-in-full, multi-car, and education and occupation.
- USAA policyholders can earn discounts including safe driver, loyalty savings, multi-vehicle, multi-policy, and defensive driver.
The chart below compares insurance prices with and without policy discounts. The data assumes a female driver, no accidents, no driving violations, Texas state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with defensive driving course, vehicle safety, multiple vehicle, passive restraint, multiple policy, and homeowner discounts applied. When drivers qualify for the discounts, the average savings per year on insurance for seniors is 29% or $486.
Do you need full coverage?
Reducing premiums for insurance should be important to the majority of vehicle owners, and one of the quickest ways to buy cheaper insurance for seniors is to not buy full coverage. The chart below compares car insurance costs when comparing full coverage to liability only. Data assumes no claims or driving citations, $500 deductibles, single status, and no discounts are factored in.
Averaged for all ages 20 through 70, full coverage costs $1,963 per year more than just buying liability only. Lot’s of drivers question if it’s a good idea to buy full coverage. There is no specific rule of when to eliminate physical damage coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
There are some conditions where buying only liability insurance is not advised. If you haven’t satisfied your loan, you have to carry full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not buy liability only.
If you aren’t sure which coverage you need and prefer to get some help when trying to find the best insurance rates for senior citizens, the agents listed below can answer your questions and help you decide which coverages are best.
To locate a Dallas auto insurance agent using an interactive map, click the button after the list.
- Ann Nguyen – State Farm Insurance Agent
12655 N Central Expy #310 – Dallas, TX 75243 – (214) 692-0900 - Carlos Luevano – State Farm Insurance Agent
4444 W Illinois Ave #304 – Dallas, TX 75211 – (214) 337-8888 - Earl Gordon – State Farm Insurance Agent
7605 McCallum Blvd – Dallas, TX 75252 – (972) 407-9995 - Northwest Insurance
11722 Marsh Ln # 345 – Dallas, TX 75229 – (214) 352-5656 - Allstate Insurance: Jonathan Crisler
1350 N Buckner Blvd #218 – Dallas, TX 75218 – (214) 324-7676