The words “economical” and “insurance” really don’t belong together, in particular when comparison shopping for the cheapest auto insurance for drivers over age 70. In an attempt to save some money, let’s start off by going over some of the things that significantly impact auto insurance premiums, and figure out some ideas to take the bite out of your next policy.
One of the more important factors that aid in calculating the cost of insurance is where you call home. Cities with larger populations or higher claim trends will most likely have higher rates, whereas areas with less congestion benefit from having to pay less for coverage.
The table below shows the most expensive cities in Nevada for drivers over age 70 to buy an auto insurance policy in. Las Vegas makes the list at #5 with an annual cost of $1,930 for the average insurance policy, which is approximately $161 each month.
|7||North Las Vegas||$1,844|
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Information shown are comparative as the specific geographic location can revise premiums noticeably.
The car, truck, or SUV to be insured is one of the largest factors that determines the availability of the lowest-priced auto insurance for drivers over age 70. Vehicles with high performance features, poor safety ratings, or a track record of large liability claims will cost substantially more to insure than safer, lower-performance models. The table below presents auto insurance prices for a selection of the most economical automobiles to insure in Nevada.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$2,824|
|Ford Escape Limited 2WD||$2,871|
|Hyundai Elantra SE Touring Station Wagon||$3,049|
|Chevrolet Silverado LS Regular Cab 4WD||$3,121|
|Ford Explorer Eddie Bauer 2WD||$3,167|
|Ford Edge SEL AWD||$3,299|
|Dodge Grand Caravan Hero||$3,346|
|Toyota RAV4 Sport 2WD||$3,353|
|Chevrolet Impala LT||$3,346|
|Toyota Camry LE||$3,356|
|Toyota Tacoma Double Cab TRD Off-Road Package 4WD||$3,392|
|Chevrolet Malibu LT||$3,400|
|Honda Civic EX 4-Dr Sedan||$3,478|
|Honda Odyssey EX-L W/Rear Entertainment||$3,524|
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Prices based on single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Information does not factor in garaging location in Las Vegas, NV which can affect auto insurance rates significantly.
Based upon these rates, cars like the Honda CR-V, Ford Escape, and Hyundai Elantra are most likely to be a few of the cheapest vehicles to insure for older drivers. Car insurance rates will trend higher just because there is more claim risk for drivers over age 70, but overall those specific models will most likely have the cheapest rates that you’ll find.
Get discounts on Las Vegas insurance rates
Car insurance companies that offer coverage for drivers over age 70 may also give you rate discounts that could lower prices by 40% or more if you qualify for them. Companies and a selection of discounts are detailed below.
- American Family offers discounts for Steer into Savings, bundled insurance, TimeAway discount, multi-vehicle, mySafetyValet, good driver, and early bird.
- State Farm offers premium reductions for good student, defensive driving training, Drive Safe & Save, accident-free, and multiple policy.
- 21st Century discounts include homeowners, good student, defensive driver, 55 and older, theft prevention, driver training, and early bird.
- Travelers includes discounts for student away at school, save driver, hybrid/electric vehicle, continuous insurance, payment discounts, and multi-car.
- GEICO may offer discounts for air bags, membership and employees, multi-policy, driver training, emergency military deployment, and anti-lock brakes.
The diagram below shows the comparison of annual premium costs with and without some available policy discounts. The rates are based on a male driver, no claims or driving violations, Nevada state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The lower bar shows the rates with accident-free, vehicle safety, defensive driving course, safe-driver, multiple policy, and marriage discounts applied. When these discounts are applied, the average amount saved each year on auto insurance for drivers over age 70 is 27% or $446.
Auto insurance rates are higher with tickets and accidents
The ideal way to enjoy cheap auto insurance premiums in Nevada for older drivers is to drive safe and avoid at-fault accidents and violations. The illustration below demonstrates how speeding tickets and accidents raise insurance premiums for different age groups. The premium estimates are based on a married male driver, full coverage, $1,000 deductibles, and no discounts are applied to the premium.
The data in the chart shows the average cost of an auto insurance policy in Nevada per year with no accidents and a clean driving record is $1,103. Get written up for one speeding ticket and the average cost increases to $1,270, an increase of $168 each year. Then add one accident along with the one speeding ticket and the annual cost of auto insurance for drivers over age 70 increases to an average of $1,728. That’s an increase of $626, or $52 per month, just for not being a responsible driver!
Las Vegas car insurance rates
Nevada auto insurance rates are calculated based on many things which can substantially decrease or increase the price you have to pay. Simply having another birthday, increasing liability limits, or having an accident can trigger changes in premium that may make certain companies cheaper than competitors. Not only may your risk profile change, but car insurance companies change prices every year or even multiple times each year in order to protect their financial rating. An unexpected high level of claims can result in higher priced premiums, while a better claims history can produce cheaper Las Vegas car insurance rates.
The data below shows the cheapest car insurance in Las Vegas, NV for a 35-year-old female driver with a clean driving record, no accidents, and great credit. When comparing rates based on her current risk factors, Travelers has the most affordable car insurance rates in Las Vegas at $1,628 per year. This is $54 more than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family are the remainder of the cheapest Las Vegas, NV auto insurance companies.
Now let’s give the driver from the above example a claim surcharge, a lower credit score, and a traffic ticket or two. Since every car insurance company uses their own method for determining rates in each state, comparing rates may result in a slightly different list of cheap Las Vegas auto insurance companies as shown below.
Allied now has the best price in Las Vegas, NV with GEICO, Nationwide, USAA, and Safeco also being competitive. This example demonstrates why it is crucial to shop around with many companies when trying to get the cheapest car insurance rates for drivers over age 70. Rates are influenced by many factors and can increase or decrease at any time, so the cheapest company the last time you shopped your coverage around may now be one of the more expensive options.
If you aren’t clear which coverage you need and would like to get some professional input when comparing insurance rates for drivers over age 70, the insurance agencies listed below can answer your questions and help you decide which is the best policy. To locate an agency closest to you, click the button at the bottom of the list or click here to compare prices now.
- Estrella Auto Insurance
2349 E Bonanza Rd – Las Vegas, NV 89101 – (702) 671-4081
- Jason Paszek – State Farm Insurance Agent
4250 E Bonanza Rd #16 – Las Vegas, NV 89110 – (702) 453-9500
- Jeremy Walser – State Farm Insurance Agent
1725 S Rainbow Blvd #11 – Las Vegas, NV 89146 – (702) 367-1991
- Superior Insurance
2511 Stewart Ave – Las Vegas, NV 89101 – (702) 721-7575
- Luria Walker – State Farm Insurance Agent
3124 N Rainbow Blvd – Las Vegas, NV 89108 – (702) 645-3300
Tips to find budget-friendly insurance for drivers over age 70
The list below summarizes some thrifty suggestions that can help you buy lower-cost auto insurance.
- Better credit scores save money
- Avoid at-fault accidents and claims
- Safer vehicles cost less to insure
- Drive safely
- Higher comprehensive and collision coverage deductibles will save money
- Assess whether full coverage is needed
- Ensure you have the best deal by shopping around regularly
The last tip in the list is especially crucial, as we emphasized in this article. Prices charged by auto insurers in Las Vegas fluctuate considerably, so don’t be hesitant to switch companies if a cheaper price is available. Staying with the same car insurance company is fine, but it’s not recommended if that loyalty results in overpaying several hundred dollars every year. It takes less than five minutes to compare rates to find cheaper auto insurance for drivers over age 70.