For older drivers, one of the more important criteria that are looked at to determine the annual cost of car insurance is where you live. Areas with more people or higher crime rates tend to have more expensive car insurance rates, whereas areas that tend to be more rural benefit from lower coverage costs.
The next table rates the most expensive areas in California for drivers over age 60 to buy car insurance in. Santa Ana comes in at #17 with an annual rate of $1,483 for car insurance, which is around $124 each month.
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Information shown are approximated as the specific geographic location can lower or raise coverage prices significantly.
Comparing rates for reasonably-priced auto insurance is confusing at best, and figuring out which company offers the cheapest auto insurance rates for drivers over age 60 will require even more shopping around. Every auto insurer uses a different method to establish rates, so first let's look at the rankings for the auto insurance companies with the overall best prices in Santa Ana, CA.
It's a good idea to be aware that California auto insurance rates are impacted by many things that will increase or decrease the price you have to pay. Improving your credit rating, buying higher coverage limits, or getting caught speeding can trigger price changes that may make certain companies more affordable than before.
Compare Cheap Insurance Quotes for Age 60+
Wawanesa may have some of the lowest car insurance rates in Santa Ana at around $1,146 a year. This is $505 less than the average price paid by California drivers of $1,651. USAA, Century National, Nationwide, and CSAA are also some of the most economical Santa Ana, CA car insurance companies.
In the rate table above, if you currently have coverage with USAA and switched to Wawanesa, you could see yearly savings of around $9. California drivers with Century National may save as much as $80 a year, and Nationwide insureds might lower prices by up to $80 a year.
Understand that those premium estimates are averages across all drivers and vehicles and do not take into consideration an exact vehicle garaging location for drivers over age 60. So the company that can offer the best rates for your situation may not even be in the list above. That is why you need to get rate quotes from many companies using your own driver data and vehicle information.
The illustration below shows how choosing a deductible can impact insurance prices when getting quotes for cheap insurance for drivers over age 60. The data is based on a single male driver, full coverage, and no discounts are factored in.
The chart above illustrates that a 30-year-old driver could lower their car insurance rates by $568 a year by switching from a $100 deductible up to a $500 deductible, or save $856 by choosing a $1,000 deductible. Youthful drivers, like the 20-year-old, can cut up to $1,674 annually by using a higher deductible. When increasing deductibles, it will be important to have spare funds to enable you to pay the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Rate difference between full and liability-only coverage
Saving money when shopping for auto insurance is the goal of most people, and one common way to find cheap insurance for drivers over age 60 is to only buy liability coverage. The diagram below shows the difference between auto insurance rates when comparing full coverage to liability only. The data is based on no claims or violations, $1,000 deductibles, single status, and no discounts are factored in.
If the expense is averaged for all age categories, full coverage costs an extra $1,849 per year more than just buying liability only. A very common question is if physical damage coverage is worth the money. There is no exact rule of when to eliminate full coverage, but there is a guideline you can consider. If the annual cost of having full coverage is more than about 10% of the vehicle's replacement cost less your deductible, then you might want to think about dropping full coverage.
There are some conditions where eliminating full coverage is not recommended. If you haven't paid off your loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not opt for liability only.
How to find low-cost auto insurance for drivers over age 60
The list below details some money-saving suggestions that can help you buy more affordable coverage.
- Drop full coverage on older vehicles
- Being accident-free can lower rates significantly
- Maintain a clean driving record
- Bundle car and home insurance and save money
- Buy a vehicle with excellent safety ratings
- If possible, pay for small claims out-of-pocket
- Compare rates and switch if you can find a better deal
The last tip is extraordinarily vital, as we noted in the prior information. Coverage prices adjust often, so you should be ready to buy a different policy if a lower-cost policy is available.
Staying with the same company for years is fine, but it's not a great idea if it's costing you money that could be going to better use. Now is a great time to compare rates and find cheaper car insurance for drivers over age 60 in Santa Ana.