The words “affordable” and “auto insurance” probably shouldn’t be used in the same sentence, especially when you are searching for the lowest insurance prices for drivers over age 70. Because it’s not cheap, let’s start the ball rolling by going over some situations that influence car insurance prices, and see if we can help you cut the cost of your next policy.
Determining which companies offer the cheapest auto insurance rates for drivers over age 70 requires a tad more effort in order to find coverage that fits your budget.
Each auto insurer has a proprietary method for determining prices, so let’s take a look at the auto insurance companies that tend to have lower prices in New Mexico. We do need to point out that Albuquerque auto insurance rates are impacted by many factors which can substantially decrease or increase the price of your policy. Simply having another birthday, having a teen driver, or getting a speeding ticket may cause policy rate changes that can now make some companies more affordable than competitors.
Cheapest Insurance Rates for Age 70+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $663 |
| 2 | Allied | $920 |
| 3 | Safeco | $974 |
| 4 | Farm Bureau Mutual | $1,202 |
| 5 | State Farm | $1,310 |
| 6 | Central Mutual | $1,314 |
| 7 | Farmers | $1,315 |
| 8 | The Hartford | $1,366 |
| 9 | Progressive | $1,505 |
| 10 | Travelers | $1,537 |
| 11 | California Casualty | $1,623 |
| 12 | GEICO | $1,624 |
| 13 | MetLife | $1,642 |
| 14 | Encompass | $1,711 |
| 15 | Allstate | $2,385 |
| 16 | Liberty Mutual | $2,479 |
| 17 | Sentry | $3,114 |
| View More Rates Go | ||
USAA offers some of the best car insurance rates in Albuquerque at around $663 each year. This is $905 less than the average premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and State Farm also rank well as some of the cheaper Albuquerque, NM auto insurance companies.
As depicted above, if you have coverage with Farm Bureau Mutual and switched to Allied, you might see an annual savings of upwards of $282. Policyholders with State Farm might save as much as $390 a year, and Central Mutual customers might realize rate reductions of up to $394 a year.
To see if your current coverage is too expensive, click here to begin a quote or feel free to get quotes from the companies below.
Understand that those policy prices are averaged for all ages of drivers and types of vehicles and and are not figured with a specific vehicle garaging location for drivers over age 70. So the auto insurance company that fits your needs best may not even be in the top 17 companies in the list above. That is why you need to get car insurance quotes using your own driver data and vehicle information.
The vehicle requiring coverage is one of the biggest factors that determines whether or not you find the best insurance for drivers over age 70. Vehicles with more horsepower, a lack of safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than safer models.
The list below ranks coverage costs for a selection of the most cost-effective vehicles to buy insurance for.
| Insured Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape Limited 2WD | $1,375 |
| Honda CR-V LX 4WD | $1,471 |
| Toyota Tacoma 2WD | $1,563 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $1,623 |
| Toyota Prius | $1,636 |
| Ford Explorer XLT 2WD | $1,646 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,649 |
| Toyota Camry SE | $1,680 |
| Ford Edge Sport AWD | $1,686 |
| Chevrolet Impala LTZ | $1,680 |
| GMC Sierra SLT Crew Cab 2WD | $1,709 |
| Chevrolet Equinox LTZ AWD | $1,715 |
| Ford F-150 XL Crew Cab 2WD | $1,712 |
| Dodge Grand Caravan Hero | $1,743 |
| Jeep Wrangler Unlimited Rubicon 4WD 4-Dr | $1,751 |
| Volkswagen Jetta SE 2.5 Station Wagon | $1,764 |
| Nissan Rogue SL AWD | $1,793 |
| Ford Focus SE 2-Dr Coupe | $1,801 |
| Honda Accord EX 2-Dr Coupe | $1,793 |
| Toyota RAV4 Limited 4WD | $1,795 |
| Chevrolet Silverado LTZ Crew Cab 2WD | $1,822 |
| Kia Optima SX | $1,830 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,866 |
| Compare Cheap Rates Go | |
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and New Mexico minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Table data does not factor in specific location which can increase or decrease coverage rates substantially.
By looking at the data, you can infer that vehicles like the Ford Escape, Honda CR-V, and Toyota Tacoma are most likely to be a few of the cheapest vehicles to insure for older drivers.
For older drivers, one of the big factors that help determine auto insurance rates is the neighborhood you call home in Albuquerque. Cities with more crime and/or more people tend to have more expensive car insurance rates, whereas less populated areas benefit from lower rates.
The next table ranks the highest-priced areas in New Mexico for drivers over age 70 to purchase auto insurance in. Albuquerque is ranked at #2 with an annual cost of $1,375 for coverage, which is around $115 each month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | South Valley | $1,390 |
| 2 | Albuquerque | $1,375 |
| 3 | Santa Fe | $1,342 |
| 4 | Artesia | $1,330 |
| 5 | North Valley | $1,329 |
| 6 | Los Lunas | $1,289 |
| 7 | Rio Rancho | $1,282 |
| 8 | Espanola | $1,273 |
| 9 | Los Alamos | $1,269 |
| 10 | Hobbs | $1,258 |
| 11 | Gallup | $1,224 |
| 12 | Lovington | $1,207 |
| 13 | Roswell | $1,186 |
| 14 | Las Vegas | $1,184 |
| 15 | Carlsbad | $1,165 |
| 16 | Farmington | $1,148 |
| 17 | Portales | $1,140 |
| 18 | Clovis | $1,134 |
| 19 | Chaparral | $1,114 |
| 20 | Deming | $1,109 |
| 21 | Anthony | $1,109 |
| 22 | Las Cruces | $1,098 |
| 23 | Silver City | $1,085 |
| 24 | Sunland Park | $1,065 |
| 25 | Alamogordo | $1,031 |
| Find Cheaper Rates Go | ||
Rate information is approximated as the specific Albuquerque residence address can lower or raise coverage prices greatly.
Choosing the best insurer is hard considering how many choices there are in New Mexico. The ranking information below could help you decide which providers you want to consider when comparing rate quotes.
The ratings below are for companies that insure vehicles across America, so companies that may only write in New Mexico will not be included in the list. To compare prices from these and other competitive companies, follow this link.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Travelers | 80 | 87 | 87 | 83% | A++ | 85.2 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Albuquerque auto insurance
Insurance companies that provide policies for drivers over age 70 may have policy discounts that can lower rates by as much as 40% or more if you meet the requirements. Popular auto insurance companies and some of the premium reductions they offer are shown below.
- State Farm may have discounts that include defensive driving training, good driver, multiple autos, multiple policy, driver’s education, and safe vehicle.
- GEICO offers discounts for multi-policy, defensive driver, emergency military deployment, anti-theft, and five-year accident-free.
- SAFECO has discounts for accident prevention training, multi-car, drive less, anti-theft, teen safe driver, and homeowner.
- Farmers Insurance has savings for bundle discounts, teen driver, homeowner, electronic funds transfer, and good student.
- AAA may offer discounts for multi-policy, multi-car, AAA membership discount, good driver, education and occupation, and anti-theft.
- USAA includes discounts for new vehicle, multi-vehicle, annual mileage, military installation, vehicle storage, defensive driver, and good student.
The diagram below shows the comparison of insurance rates with and without some available policy discounts. The price estimates are based on a male driver, no claims, a clean driving record, New Mexico state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with homeowner, passive restraint, vehicle safety, claim-free, defensive driving course, and anti-theft discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on auto insurance for drivers over age 70 is 28% or $688.
The benefit of shopping around
New Mexico auto insurance rates are influenced by many factors which can substantially change the price of your policy. Simply having a birthday, adding a teenager to your policy, or having an accident can trigger price changes resulting in some companies being cheaper than competitors. And not only may your rating factors change, but companies change prices at least once a year to ensure their profitability. Higher than usual claims can cause more expensive premiums, while lower claim expenses can produce lower-cost Albuquerque car insurance rates.
To help illustrate this point, the graph below shows the cheapest car insurance in Albuquerque, NM for a 30-year-old female driver with no accidents, a clean driving record, and good credit. If we compare prices based on her current risk factors, USAA might quote the most affordable car insurance rates in Albuquerque at $858 annually. This is $710 less than the average premium paid by New Mexico drivers of $1,568. Allied, Safeco, Farm Bureau Mutual, and Farmers are also included in the cheapest Albuquerque, NM auto insurance companies.
The example below compares rates after we give the driver in the first chart a couple of claims, a lower credit score, and a traffic citation. Since each auto insurer has their own process to set policy rates, comparing rates will most likely result in a new list of affordable Albuquerque car insurance companies as shown below.
Allied now has the cheapest auto insurance in Albuquerque, NM with USAA, The Hartford, State Farm, and Safeco completing the list. This demonstrates why consumers need to take the time to take the time to shop around when trying to get affordable car insurance rates for drivers over age 70. Insurance rates can be altered by many factors and can increase or decrease at any time, so the most affordable company the last time you checked may now be wasting a lot of money.
How to find the cheapest auto insurance for drivers over age 70
Lowering your rates is not difficult, and here are some of the recommended money-saving suggestions that can help you quote low-cost auto insurance.
- Earn discounts for being claim-free
- Buy safe vehicles
- Accident-free drivers may qualify for discounts
- Drive safely
- Multi-policy discounts save money
- Compare rates often to find the best deal
That last piece of advice is very significant, as was affirmed in the prior information. Prices charged by auto insurers can be changed at any time, so you should be ready to switch to a new company if a better rate can be found.
Many consumers stick with the same company and that’s fine, but we do not recommend it if that loyalty results in overpaying a small fortune year after year. If you have a few minutes, now is a great time to compare prices to find cheaper car insurance for drivers over age 70 in Albuquerque.