Determining which insurers offer the cheapest auto insurance rates for seniors may require a little more sweat than just comparing rates from one or two companies. Each insurer has their own formula for determining rates in each state, so let’s look at the rankings for the auto insurance companies with the overall cheapest rates in Detroit, MI.
Cheap Insurance Rates for Mature Drivers
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $949 |
| 2 | GEICO | $1,033 |
| 3 | Safeco | $1,069 |
| 4 | MetLife | $1,324 |
| 5 | Chubb | $1,428 |
| 6 | MEEMIC | $1,450 |
| 7 | Pioneer State Mutual | $1,488 |
| 8 | Auto-Owners | $1,636 |
| 9 | Hastings Mutual | $1,643 |
| 10 | Frankenmuth | $1,662 |
| 11 | SECURA | $1,796 |
| 12 | Progressive | $1,904 |
| 13 | Wolverine Mutual | $2,126 |
| 14 | Allied | $2,240 |
| 15 | Grange Mutual | $2,322 |
| 16 | Allmerica | $2,362 |
| 17 | Hanover | $2,399 |
| 18 | Auto Club Group | $2,489 |
| 19 | Nationwide | $2,541 |
| 20 | Farm Bureau | $2,651 |
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USAA may have some of the best car insurance rates in Detroit at around $949 each year. GEICO, Safeco, MetLife, and Chubb also rank well as some of the more affordable Detroit, MI auto insurance companies.
As shown above, if you currently have coverage with Chubb and switched to GEICO, you might achieve a yearly savings of roughly $395. Insureds with MEEMIC could save as much as $417 a year, and Pioneer State Mutual customers might reduce rates by $455 a year.
These estimates are averages across all drivers and vehicles in Michigan and do not take into consideration a specific zip code for seniors. So the company that fits your needs best may not even be in the list above. That affirms the importance of why you need to quote rates from as many companies as possible using your own driver information and specific vehicle type.
For senior citizens, one of the largest factors that are looked at to help calculate insurance cost is where your residence is. Regions with more people or even just more weather-related claims are more likely to pay higher prices, whereas areas with less congestion receive better rates.
The following table lists the most costly cities in Michigan for seniors to purchase car insurance in. Detroit is listed at #1 having an annual price of $4,960 for the average policyholder, which is about $413 per month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Detroit | $4,960 |
| 2 | Dearborn | $4,123 |
| 3 | Southfield | $3,862 |
| 4 | Pontiac | $3,567 |
| 5 | Warren | $3,423 |
| 6 | Flint | $3,337 |
| 7 | Dearborn Heights | $3,207 |
| 8 | Taylor | $3,178 |
| 9 | Sterling Heights | $2,954 |
| 10 | Westland | $2,937 |
| 11 | St. Clair Shores | $2,819 |
| 12 | Livonia | $2,714 |
| 13 | Farmington Hills | $2,676 |
| 14 | Troy | $2,640 |
| 15 | Royal Oak | $2,562 |
| 16 | Saginaw | $2,557 |
| 17 | Novi | $2,514 |
| 18 | Rochester Hills | $2,492 |
| 19 | Lansing | $2,391 |
| 20 | Battle Creek | $2,354 |
| 21 | Kalamazoo | $2,282 |
| 22 | Kentwood | $2,250 |
| 23 | Wyoming | $2,216 |
| 24 | Grand Rapids | $2,208 |
| 25 | Ann Arbor | $2,065 |
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Premium costs are approximated as zip code location can lower or raise prices substantially.
Auto insurance rates are higher with tickets and accidents
In a perfect world, the ideal way to enjoy the most affordable auto insurance premiums in Detroit for senior citizens is to be an attentive driver and avoid accidents and violations. The illustration below demonstrates how citations and at-fault accidents drive up auto insurance costs for each different age group. The premiums assume a single male driver, full coverage, $100 deductibles, and no discounts are factored in.
The data charted above shows the average cost of car insurance in Michigan per year with no accidents or violations is $3,933. Add in two speeding tickets and the average cost surges to $5,228, an increase of $1,295 each year. Then add in two accidents along with the two speeding tickets and the annual cost of auto insurance for seniors jumps again to an average of $9,818. That’s an increase of $5,885, or $490 per month, just for not being more responsible behind the wheel!
Best auto insurance company in Detroit
Selecting the best auto insurance provider can be challenging considering how many companies sell coverage in Detroit. The ranking information in the next section can help you decide which coverage providers you want to consider when shopping insurance around for seniors. The rankings below are only made up of the companies with a significant amount of written premium nationwide, so companies that may only write in Michigan are not factored into these rankings.
Top 10 Major Auto Insurance Providers in Detroit Ranked by Customer Satisfaction
- The Hartford – 93%
- Progressive – 90%
- 21st Century – 89%
- USAA – 87%
- State Farm – 87%
- Safeco Insurance – 86%
- AAA Insurance – 86%
- Farmers Insurance – 85%
- GEICO – 85%
- American Family – 85%
The benefit of shopping around
Detroit auto insurance rates are impacted by many factors which can significantly increase or decrease the price of coverage. Simply having another birthday, getting divorced, or getting a DUI may prompt premium changes that can cause some rates to be cheaper than competitors.
Not only may things change on your end, but companies change their prices multiple times each year in order to protect their financial rating. Higher than usual claims may cause increased policy costs, while lower claim levels may cause lower-priced Detroit car insurance rates.
The graph below analyzes the cheapest car insurance in Detroit, MI for a 30-year-old male driver with no accidents, a clean driving record, and great credit. Based on his current risk profile, USAA has the lowest car insurance rates in Detroit at $2,301 per year. This is $92 less than the average price paid by Michigan drivers of $2,393. GEICO, Safeco, MetLife, and MEEMIC are the remainder of the cheapest Detroit, MI auto insurance companies.
The chart below compares rates after we give the driver from above a chargeable accident, poor credit, and a traffic citation. Because every insurance company has a different process for filing rates in each state, getting updated rate quotes may now present a completely different list of affordable companies as shown below.
GEICO now has the cheapest auto insurance in Detroit, MI with Pioneer State Mutual, Safeco, USAA, and Hastings Mutual completing the list. This example demonstrates why it is critical to compare as many rates as possible when trying to get the most affordable insurance quotes for seniors.
Insurance prices can be altered by many factors and change dramatically, so the cheapest rate the last time you shopped your coverage around may now be priced much higher than other options.