Best Car Insurance for Over 50s: Cheap Companies (2022)

Finding the best auto insurance company can mean finding the right option for your situation or saving you hundreds a year on your policy – or both. The best 50 year old auto insurance can be under $100 a month from companies like USAA and Erie.

We at the Home Media review team have compared it cheap car insurance prices from many suppliers to find the best selection of 50 year olds. Read on to find out good auto insurance Studying and learning how to save money.

How Much is Car Insurance for a 50 Year Old?

According to our estimates, 50-year-olds pay an average of $1,658 per year or $138 per month for all auto insurance. This is slightly cheaper than the national average of $1,730 per year or $144 per month for family drivers aged 35 and over. Generally, seniors between the ages of 35 and 65 pay the cheapest car insurance rates.

What’s the Cheapest Car Insurance for 50 Year Olds?

USAA offers affordable auto insurance for over 50s, at $85 per month approximately. Erie is the cheapest in the county, with average prices $98 per monthand Geico is the cheapest insurance on the market with rates of $103 per month.

Below are 11 popular car insurance companies rated by the cost of drivers over the age of 50.

*Car insurance rates are based on total policy coverage of $50,000 per person, $100,000 personal injury per accident and $50,000 property damage per accident. The estimate also includes a $500 collision deductible and comprehensive coverage.

Best Car Insurance for 50 Year Olds

Our top picks for auto insurance for over 50s are Geico, USAA and Erie Insurance.

*All figures apply to regular driving while the scheme applies to drivers over 50 years of age.

#1: Geico

Overall, we recommend Geico as the best 50-year-old car insurance company because it’s available nationwide and has affordable rates. Insurance rates are about 26% cheaper than the national average for drivers of this age. Geico has A+ rating from the Better Business Bureau (BBB) ​​and is among the top three in Texas, New York and the Central and Northwest states JD Power 2022 US Auto Insurance Study℠.

Continue reading: Geico insurance review

#2: USA

If you are a member of the military or a veteran, you can get cheaper insurance rates with USAA. According to our estimates, USAA coverage costs about 38% more than the national average for 50-year-olds. That’s a big difference. USAA also receives high customer satisfaction rankings in many JD Power studies.

Continue reading: USAA insurance review

#3: Erie Insurance

Erie Insurance can be a smart choice for many drivers over the age of 50. Our estimates show that 50-year-olds pay about 29% less with Erie than the national average. The company offers some unique ways to learn through its own Series Auto Plus® additional costs, such as increased closing costs and transportation costs. Erie is found in the following 12 saysincluding Washington, DC:

  • Illinois
  • Indiana
  • Kentucky
  • Maryland
  • new York
  • North Carolina
  • Ohio
  • Pennsylvania
  • Tennessee
  • Virginia
  • West Virginia
  • Wisconsin

#4: State Farm

For drivers over 50, State Farm is another great option that is available nationwide. With State Farm, 50-year-olds pay about 13% more than the rest of the country. State Farm is the nation’s largest auto insurance company and has a High cost of economic power from AM Best. This means that it can easily handle its complaints.

Continue reading: State Farm insurance review

#5: The Hartford

Hartford offers affordable health insurance to AARP members age 50 and older. Our estimates show that The Hartford’s median prices are slightly higher than the market average, but this is not the case 10% discount AARP members get it.

The company has a good reputation for customer support and has scored 905 out of 1,000 on the JD Power 2021 US Auto Claims Satisfaction Study℠. AARP membership benefits include discounts on travel, hotels, technology, health and more.

Is Car Insurance for 50 Year Olds Expensive?

Compared to other age groups, car insurance for a 50-year-old is not expensive. Young drivers are at a higher risk of accidents, so they can pay three to four times the national cost of car insurance. Fifty-year-olds pay about the same or slightly less, on the other hand.

50-year-olds have better driving skills than younger drivers and often drive more cautiously. A good driving record can help you get the best car insurance rates and discounts.

Below, you can see how car insurance accident rates change according to the age group AAA Foundation for Traffic Safety.

Car insurance rates largely reflect the likelihood of different types of accidents. You can see this in the chart below, which breaks down the cost of car insurance by age.

How To Save On Car Insurance Over 50 Years Old

Not all drivers over the age of 50 will pay the same amount for car insurance. Apart from age, your driving history, credit scores, car and location can affect prices. You will also get different rates from different car insurance companies when you shop around. Here are a few tips for finding the best 50 year old car insurance.

Shop Around

The easiest thing you can do to get the best car insurance rates is to shop around every time your policy is renewed. Fifty-year-old policyholders pay less than most other groups of car insurance, but auto insurance rates it can still vary from driver to driver. Take a few hours and compare car insurance quotes from several companies. We recommend comparing the rates of at least three companies to find the best 50 year old car insurance.

Raise Your Deductible

Raising your deductible increases your out-of-pocket expenses in the event of an accident. Your insurance company will pay you by reducing your total cost. Make sure you can afford the deductible in case of an accident.

Adjust Funding

You can save money by reducing what your insurance company charges as an injury or collision premium – as long as you meet the state’s requirements. If you have your own vehicle, you may also consider dropping collision and comprehensive coverage to save more.

Maintain a Good Driving Record

Your driving record affects the value of your car to a large extent. Having zero accidents, tickets or defects in your recent history can keep your rates low.

Check for Discounts

Almost all auto insurance companies offer multiple discounts, and some can help you save more money depending on the situation. Considering age, some car insurance companies offer higher discounts for 50-year-olds while others offer discounts for older drivers aged 55, 60 or 65.

When shopping, be careful car insurance discount such as:

  • Discounts (more cars, more orders)
  • Student is in school (for family policies)
  • Military discount
  • Military deployment
  • Low mileage
  • A defensive driving style
  • Government employees or a professional body
  • Safe driver discount
  • Homeowner
  • Big discounts

We also recommend checking out discounts for using car safes like State Farm’s Drive Safe & SaveTM or Progressive Image®especially if you drive less than 12,000 kilometers a year. Telematics insurance Programs like these give you discounts based on your driving, and safe drivers can save you a lot of money.

Lowest Car Insurance for 50 Year Olds in Every State

The best 50 year old car insurance varies by state. Below, you can see the cheapest rates for drivers over 50 in each state.

10 cheapest countries for 50 year olds

Our comparison shows drivers over 50 in Maine pay significantly less for car insurance than drivers in other states.

The 10 Cheapest Countries for 50 Year Olds

According to our estimates, Michigan has the most expensive car insurance rates for 50 year olds.

Our Way

Because consumers rely on us to provide accurate and up-to-date information, we’ve developed a comprehensive review system to create our rankings of the best auto insurance companies. We collected the information of many car insurance providers to find companies for different reasons. The result was the total score for each provider, with insurers scoring the most points at the top of the list.

Here are the things our ratings take into account:

  • Price (30% of total score): Auto insurance comparisons by Quadrant Information Services and discount options are all considered.
  • Access (30% of total score): Companies that offer a variety of insurance options can meet the needs of consumers.
  • History (15% of total score): Our research team considered market share, ratings from industry experts and years of business to provide this information.
  • Attendance (10% of total score): Auto insurance companies with a large presence in the state and low eligibility requirements have been the best in this category.
  • Customer Experience (15% of total score): This is based on the number of complaints reported by NAIC and customer satisfaction reported by JD Power. We also considered the responsiveness, effectiveness and support of each group of insurance companies based on our consumer analysis.

*Data correct at time of publication.