How Much is Philadelphia Auto Insurance for Seniors?

One of the many factors that aid in calculating the price you pay for insurance is where you normally keep your vehicle in Philadelphia. Regions with more people or even just more weather-related claims are more likely to have higher rates, whereas areas that tend to be more rural benefit from lower rates.

The next table sorts the highest-priced places in Pennsylvania for seniors to purchase car insurance in. Philadelphia is listed at #1 having an annual price of $2,057 on average, which is around $171 per month.

How much is auto insurance in Philadelphia, PA?
Rank City Average Per Year
1 Philadelphia $2,057
2 Drexel Hill $1,504
3 Chester $1,421
4 Levittown $1,379
5 Norristown $1,307
6 Erie $1,115
7 Easton $1,102
8 Allentown $1,097
9 Bethlehem $1,087
10 Pittsburgh $1,085
11 Wilkes-Barre $1,079
12 Reading $1,066
13 Hazleton $1,056
14 Municipality of Monr $1,049
15 Plum $1,047
16 Scranton $1,039
17 Altoona $1,032
18 New Castle $1,026
19 Bethel Park $989
20 Harrisburg $985
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Premium amounts are comparative as specific location information can impact rates greatly.

Finding decent, affordable auto insurance is not easy, and finding out which companies quote the cheapest car insurance rates for seniors calls for more quotes for comparison. Every insurance provider has a unique approach to set policy rates, so let’s take a look at the most budget-friendly car insurance companies in Philadelphia, PA.

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Rankings for the cheapest car insurance companies in Pennsylvania
Rank Company Cost Per Year
1 General Casualty $740
2 Travelers $787
3 Erie $792
4 Penn National $808
5 USAA $809
6 Auto-Owners $973
7 Amica $982
8 Atlantic States $1,005
9 Donegal Mutual $1,069
10 Allied $1,144
11 GEICO $1,157
12 State Farm $1,198
13 California Casualty $1,222
14 State Auto $1,279
15 Encompass $1,357
16 Progressive $1,414
17 Harleysville $1,452
18 Mutual Benefit Group $1,454
19 Nationwide $1,477
20 Chubb $1,583
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General Casualty offers some of the cheapest car insurance rates in Philadelphia at around $740 a year. This is $917 less than the average policy premium paid by Pennsylvania drivers of $1,657. Travelers, Erie, Penn National, and USAA also are some of the cheapest Philadelphia, PA auto insurance companies.

In this example, if you are currently insured with Penn National and switched to Travelers, you could earn savings of in the vicinity of $21. Pennsylvania drivers with USAA may save as much as $22 a year, and Auto-Owners insureds might realize rate reductions of up to $186 a year.

It’s important to note that these prices are averaged across all insureds and vehicles and and are not calculated with a specific zip code for seniors. So the auto insurance company that fits your needs best may not even be in the top 30 companies in the list above. That underscores the importance of why you need to compare rates from as many companies as possible using your own personal information and vehicle type.

The vehicle model to be insured is probably the biggest factor when comparing quotes for economical car insurance for seniors. Vehicles with lower performance, advanced safety features, or a positive history of liability claims will cost quite a bit less to insure than higher performance models. The list below illustrates coverage costs for some of the most economical vehicles to insure in Pennsylvania.

Cheapest Vehicles to Insure in Philadelphia, PA
Vehicle Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 4WD $3,536
Honda Accord LX-P 4-Dr Sedan $3,545
Honda CR-V EX-L 4WD $3,619
Hyundai Elantra SE Touring Station Wagon $3,842
Chevrolet Silverado LS Regular Cab 4WD $3,879
Ford Edge SE 2WD $3,887
Toyota Prius $3,926
Ford F-150 FX2 Super Cab 2WD $3,963
Dodge Grand Caravan CV $3,971
Chevrolet Impala LS $4,102
Honda Civic DX 4-Dr Sedan $4,111
Toyota RAV4 4WD $4,185
Jeep Grand Cherokee Laredo 4WD $4,194
GMC Sierra SLE Regular Cab 2WD $4,185
Chevrolet Malibu LT $4,269
Toyota Tacoma Double Cab TRD Sport Package 4WD $4,278
Ford Explorer Limited 2WD $4,269
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Data assumes married male driver age 60, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Pennsylvania minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Price information does not factor in specific location information which can affect coverage rates noticeably.

Based upon these rates, we can infer that models like the Ford Escape, Honda Accord, and Honda CR-V are most likely to be some of the most affordable vehicles to insure for senior citizens.

Reckless driving habits raise Philadelphia car insurance rates

The easiest method to score the best car insurance prices for senior citizens is to pay attention while driving and have a clean driving record. The information below illustrates how speeding tickets and fender-benders influence car insurance rates for each age group. The rates are based on a married female driver, comp and collision included, $500 deductibles, and no discounts are applied.

In the prior example, the average cost of auto insurance in Philadelphia per year with no violations or accidents is $1,617. Receive one speeding ticket and the average cost swells to $1,885, an increase of $268 each year. Now add in two accidents along with the one speeding ticket and the annual cost of car insurance for seniors jumps again to an average of $4,287. That’s an increase of $2,670, or $223 per month, just for not driving carefully!

Comparison of full coverage and liability-only policies

Paying less for car insurance is important to most drivers, and an easy way to save on the cost of insurance for seniors is to only buy liability coverage. The chart below visualizes the comparison of car insurance rates with full physical damage coverage and with liability coverage only. Data assumes no claims or driving citations, $250 deductibles, drivers are not married, and no discounts are applied.

If we average all the age groups together, full coverage costs an additional $2,351 per year over having just liability coverage. That may make you wonder when is it safe to stop buying full coverage. There is no definitive guideline to eliminate physical damage coverage on your policy, but there is a general school of thought. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your vehicle’s replacement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $8,000 after paying the physical damage deductible. If you are paying over $800 a year for full coverage, then you may want to consider only buying liability coverage.

There are some scenarios where eliminating full coverage is not recommended. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest in the vehicle. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not remove full coverage.

Get discounts on Philadelphia car insurance rates

Discounts on car insurance for seniorsAuto insurance companies that offer coverage for seniors could also offer discounts that can lower rates by as much as 25% or more if you meet eligibility requirements. The best car insurance companies and some of their more popular discounts are outlined below.

The example below shows the comparison of insurance costs with and without discounts. The premium estimates are based on a female driver, no accidents, no driving violations, Pennsylvania state minimum liability limits, comprehensive and collision coverage, and $100 deductibles.

The first bar for each age group shows premium with no discounts. The second bar shows the rates with passive restraint, marriage, claim-free, anti-theft, homeowner, and multiple policy discounts applied. When these discounts are applied, theaverage amount saved on car insurance for seniors is 29% or $522.

Compare rates to save

Philadelphia car insurance rates are based on many factors which can substantially decrease or increase the price you pay. Improving your credit rating, buying a new vehicle, or getting a driving violation can trigger rate changes that can now make some companies more affordable than competitors.

Not only that, but insurance companies modify rates at least once a year to adjust for unexpected claims or profits. Significantly higher losses can result in higher prices, while better underwriting may result in cheaper Philadelphia car insurance rates.

The graph below shows a variety of companies that have the cheapest car insurance in Philadelphia, PA for a 45-year-old male driver with a good driving record, no prior claims, and solid credit. When quoting prices based on his current situation, General Casualty may offer the cheapest car insurance rates in Philadelphia at $1,667 each year. This is $10 more than the average premium paid by Pennsylvania drivers of $1,657. Erie, Travelers, USAA, and Penn National are also on the list of the best Philadelphia, PA auto insurance companies.

Now we will pretend the driver in the first example a chargeable claim, a lower credit score, and an imperfect driving record. Since each insurance company has a unique formula for filing rates in each state, comparing prices may result in a different set of the cheapest car insurance companies in Philadelphia as shown below.

Amica now has the best auto insurance rate in Philadelphia with Atlantic States, Donegal Mutual, Travelers, and GEICO now rounding out the top five. This shows why it is crucial to perform an extensive rate comparison when trying to find the cheapest insurance rates for seniors.

Car insurance prices are determined by many factors and can change without notice, so the best company a year ago may now be priced much higher than other options.