How Much are Auto Insurance Quotes for Drivers Over Age 70 in Arkansas?

This would be a much quicker read if we could simply tell you the one company that is cheapest in Arkansas. Regrettably, it’s not quite that easy, as there are a ton of unknown aspects like if you have purchased a home, what level of deductibles you wish to have, and your choice of liability limits, that all have an effect on the price. In this article, we will cover these things and will give you some help in finding cheaper rates.

Shopping around for budget auto insurance is not easy, and finding out which company has the lowest-priced car insurance rates for drivers over age 70 involves even more work. Insurance prices will be slightly more expensive than the average rate in Arkansas due to the higher likelihood of claims that comes with selling insurance for older drivers, but economical insurance should be achievable if you compare enough companies.

Every auto insurer has their own unique process for filing rates in each state, so let’s take a look at the car insurance companies that tend to have lower prices in Arkansas. It’s important that readers know that Arkansas car insurance rates are impacted by many things which can significantly increase or decrease your annual premium. This price variability is why drivers need to spend some time comparing rates to get the best insurance quotes for drivers over age 70. Rates are made up of many different factors and change dramatically, so the best company the last time you shopped around may now be quite expensive.

Lowest Insurance Price Quotes for Age 70+

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USAA normally has some of the best car insurance rates in Arkansas at around $991 a year. Auto Club, Travelers, State Farm, and Southern Farm Bureau also are some of the best Arkansas insurance companies.

In this example, if you are currently insured with Auto Club and switched to USAA, you may realize an annual premium reduction of upwards of $14. Arkansas drivers with Travelers may save as much as $135 a year, and State Farm insureds might cut rates by $233 a year.

Be aware that those policy prices are averaged across all ages of drivers and types of vehicles and and are not figured with a rate surcharge for drivers over age 70. So the insurer that can offer the best rates for your situation may not even be shown in the company chart above. That underscores the importance of why you need to compare as many prices as possible using your own personal information and vehicle type.

The vehicle model to be insured is probably the biggest factor that determines if you can find the most affordable coverage for drivers over age 70. Vehicles with high performance, a lack of modern safety features, or a history of substantial liability claims will cost more to insure than more economical and safe models.

The next list ranks coverage prices for a handful of the most cost-effective automobiles to buy coverage for.

Price data assumes single female driver age 70, no speeding tickets, no at-fault accidents, $500 deductibles, and Arkansas minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in zip code location which can influence auto insurance rates considerably.

Based upon the table data, you can conclude that models like the Honda CR-V, Ford Escape, Hyundai Elantra, Chevrolet Traverse, and Honda Odyssey are likely to be the most budget-friendly vehicles to insure for older drivers. The price of auto insurance will tend to be higher just because there is more claim risk for drivers over age 70, but overall those models will probably have the cheapest auto insurance rates that you are likely to find.

When shopping for cheaper car insurance for older drivers, one of the many components that determine the amount you pay each year for auto insurance is where your car is garaged in Arkansas. Areas with more people or even just a higher incidence of claims like Little Rock, Texarkana, and Hot Springs will most likely pay more, whereas more rural areas have the benefit of cheap car insurance for drivers over age 70 in Arkansas.

The table below shows the most costly cities in Arkansas for drivers over age 70 to purchase a policy in.

Table data uses estimated as specific Arkansas zip code can revise rates greatly.

Insurance rate increases from tickets or accidents

The easiest method to earn the cheapest car insurance rates for older drivers is to drive cautiously and avoid traffic citations and accidents. The chart below shows how speeding tickets and fender-benders can affect auto insurance costs for different insured age categories. The costs are based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.

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In the previous example, the average cost of an auto insurance policy in Arkansas per year with a clean driving record and no accidents is $1,611. Add in two speeding tickets and the average cost rises to $2,214, an increase of $602 each year. Now add one accident along with the two speeding tickets and the annual cost of car insurance for drivers over age 70 jumps again to an average of $2,835. That’s an increase of $1,224, or $102 per month, just for a couple of infractions!

The example below illustrates how your choice of deductibles can change insurance costs when quoting cheap insurance for drivers over age 70. The premiums assume a single male driver, comprehensive and collision coverage, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 4567,4155,3705,3281],[‘Age 30’, 2345,2155,1931,1717],[‘Age 40’, 2335,2127,1897,1675],[‘Age 50’, 2121,1941,1733,1535],[‘Age 60’, 2047,1873,1675,1487],[‘Age 70’, 2485,2283,2063,1853]]);var options = {title: ‘Impact of Higher Deductibles on Car Insurance Rates in Arkansas’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

The chart above illustrates that a 30-year-old driver could pocket $438 a year by changing from a $100 deductible to a $500 deductible, or save $660 by choosing a $1,000 deductible. Younger drivers, such as the 20-year-old chart data, could possibly save up to $1,286 or more by choosing larger deductibles on their policy. When choosing a higher deductible, it’s a good idea to have additional savings on hand to cover the extra out-of-pocket expense that is associated with using high deductibles.

How to get cheap car insurance for drivers over age 70 in Arkansas

Here are a few penny-pinching suggestions that can help you quote cheap car insurance.

• Try to pay small claims out-of-pocket
• Maintain a safe distance and avoid accidents
• Raise comprehensive and collision coverage deductibles
• Remove physical damage coverage on older vehicles
• Be a cautious driver
• Look for cheaper rates once a year by shopping around

That last tip is extremely significant, as was discussed in this piece. Coverage rates in Arkansas adjust frequently, so don’t be tentative to buy from a different company if a cheaper rate is available. We understand brand loyalty, but it’s not a great idea if that devotedness results in you overpaying thousands of dollars over the life of your policy. It only take a few minutes to compare rates to find cheaper auto insurance for drivers over age 70.

Who has the cheapest insurance quotes for older drivers?

There are quite a few ways to quote cheap car insurance rates in Arkansas, but the three most common are through an independent agent, a captive (or exclusive) agent like State Farm or Allstate, or buying direct from a company like Progressive or Geico.

Each way is similar, but it’s important to understand the differences in how they function.

Independent insurance agencies write business for many companies and can provide price quotes from all of them. Agents of this type will give you more rate choices, which may give you improved chances of finding a lower rate. If they find a lower price, the agent simply finds a different carrier which requires no work on your part.

An exlusive, or captive, agency is contracted to one company like a Liberty Mutual or State Farm agent. They generally cannot provide prices from multiple companies, so if the price isn’t competitive there isn’t much they can do.

The final way is buying direct, which means you do not use an exlusive or independent agent and buy from a direct company like Esurance or Progressive. This option may be a decent choice drivers who do not have a lot of assets and have a decent understanding of what specific coverages and deductibles they need.

So comparing independent agents, exclusive agents, and direct, which one works best to buy cheap car insurance for drivers over age 70 in Arkansas? The majority of people assume that buying from a direct car insurance company saves money since no commissions are paid to an agent, but unfortunately, it’s not that cut and dried. We could also say that an independent agency is the best way to go since there are more companies to choose from, but that assumption is not true either. In some circumstances, the exclusive agents may have very competitive prices that cannot be beaten by either independent or direct companies.

Due to the fact that car insurance rates vary so much, really the only way to ensure you are not overpaying for car insurance is to do a thorough rate comparison. In a perfect world, youll get quotes from all three types in order to have enough rates to compare. For a list of companies with cheap rates in Arkansas, click here to view.