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The cheapest auto insurance for 50 can be found in USAA for an average of $85 per month or $125 per year for a fully covered insurance policy.
Auto Insurance Companies Near Me Cheap
Finding the best auto insurance company can mean getting the right coverage for your situation or saving hundreds of dollars a year on your policy or, ideally, both. The best car insurance for 50 years can be under $100 a month from companies like USAA and Erie.
Car Insurance Costs By State
We on the Home Media review team have compared the lowest auto insurance rates from dozens of providers to find the best options for those over 50. Read on to find the best auto insurance coverage and find out how to save money.
Why Trust Our Team The in-house media review team is committed to providing reliable information to help you make the best possible insurance decision for your vehicle. Our researchers, writers and editors are dedicated to researching suppliers and analyzing customer feedback and information so you can choose with confidence.
According to our estimates, 50-year-olds pay an average of about $1,658 a year or $138 a month for full coverage auto insurance. This is slightly cheaper than the national average of $1,730 per year or $144 per month for 35-year-old married drivers.
Compared to other age groups, car insurance for 50 is not expensive. Teen drivers are at the highest risk of having an accident, so they can pay three to four times the national average cost for auto insurance. On the other hand, the 50 years pay on average or a little less.
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Over 50s have more driving experience than younger drivers and often practice more cautious driving habits. A good driving history can help you get the best car insurance rates and discounts available.
Below, you can see how car insurance accident rates change by age group according to the AAA Foundation for Traffic Safety.
Car insurance rates closely reflect the likelihood of accidents for different age groups. You can see this in the chart below, which breaks down the cost of car insurance by age.
USAA offers the cheapest auto insurance for 50 years, at $85 per month on average. Erie is the cheapest regional provider, with average rates of $98 per month, and Geico is the cheapest mass market insurer with rates of $103 per month.
Michigan Auto Insurance Refund Checks Sent Out This Week
The location is one of the factors that significantly influences car insurance quotes for 50 years. For this reason, car insurance companies charge different rates based on your situation. Other factors such as your driving history and credit score can also affect the price you pay for auto insurance.
*Auto insurance estimates are based on comprehensive coverage policies with $50,000 personal injury per person, $100,000 personal injury per accident and $50,000 property damage per accident. Estimates also include a $500 deductible for collision coverage and comprehensive coverage.
The best auto insurance for 50 years varies by state. Below, you can see the cheapest provider for drivers over 50 in each state.
Our estimates show that 50-year-old drivers in Maine pay less for auto insurance than drivers in other states.
Cheapest Car Insurance Companies
Our top picks for auto insurance for 50s include Geico, USAA, and Erie Insurance. We've calculated the best car insurance for this age group by looking at coverage options, costs, reputation, customer experience and availability.
Overall, we recommend Geico as the best car insurance for over 50s because it is available nationwide and has affordable prices. Insurer rates are about 26% lower than the national average for drivers of this age. Geico has an A+ rating from the Better Business Bureau (BBB) and is ranked in the top three providers in Texas, New York, and the Central and Northwest regions in the JD Power 2022 US Auto Insurance Study℠.
If you are a military or veteran, you can find car insurance rates with USAA. According to our estimates, USAA coverage costs about 38% less than the national average for 50-year-olds. This is a significant difference. USAA also receives high customer satisfaction ratings in several JD Power studies.
Erie Insurance can be a smart choice for many drivers in their 50s. Our estimates show that 50 year olds pay about 29% less with Erie than the national average. The company offers some unique coverage options through its Erie Auto Plus ® add-on, such as increased lockout cost allowance and additional transportation cost coverage. Erie is available in the following 12 states, plus Washington, DC:
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For drivers in their 50s, State Farm is another great option available nationwide. With State Farm, 50-year-olds pay about 13% less than the national average. State Farm is the largest auto insurance company in the country and has a superior financial strength rating from AM Best. This means you can easily manage your complaint obligations.
Hartford offers discounted auto insurance to AARP members age 50 and older. Our estimates show that Hartford's average rates are slightly above the market average, but that doesn't take into account the 10% discount that AARP members receive.
The company has a good reputation for customer service and scored 905 out of 1,000 in the JD Power 2021 US Auto Claims Satisfaction Study℠. AARP membership benefits include discounts on travel, hotels, technology, wellness and more.
Not all 50-year-old drivers pay the same amount for car insurance. In addition to age, your driving record, credit score, vehicle and location can all affect rates. You will also find various rates from different car insurance companies when you shop. Here are some tips for finding the best auto insurance for your 50s.
What Is The Best Car Insurance Company In My State?
The simplest thing you can do to find a car insurance rate is to shop around every time your policy needs to be renewed. Fifty year olds pay less than many other age groups for car insurance, but car insurance prices can still vary greatly from driver to driver. Take a few hours and compare car insurance premiums from several companies. It is recommended that you compare the rates of at least three companies to find the best car insurance for 50 years.
Increasing your deductible increases the amount you have to pay out of pocket in the event of an accident. Your insurance company will reimburse you for your overall rate. However, make sure you can afford to pay the deductible in the event of an accident.
You can save money by limiting what the insurance company pays for coverage, such as personal injury liability or collision coverage, as long as you still meet the minimum state coverage requirements. If you own your car outright, you can also consider eliminating collision and comprehensive coverage to save more.
Your driving record greatly influences the cost of your automobile policy. Having zero accidents, tickets, or misdemeanors in your recent history can keep your rates low.
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Almost all auto insurance companies offer several discounts and some can help you save a lot of money depending on your situation. Considering age, some auto insurance companies offer senior discounts for those in their 50s, while others offer discounts for senior drivers aged 55, 60 or 65.
We also recommend checking out usage-based safe driving discounts like State Farm's Drive Safe & SaveTM or Progressive's Snapshot®, especially if you drive less than 12,000 miles a year. Telematics insurance programs like these offer discounts based on driving, and safe drivers can save a significant amount.
We've looked at the lowest car insurance rates for drivers over 50 and broken down the costs by state. We have also outlined the average costs for this age group and the factors that can affect car insurance premiums. Our top 50 auto insurance recommendations include Geico, USAA, and Erie Insurance
When it comes to auto insurance, you'll want to compare auto insurance quotes from multiple companies to find the best option.
Personal Auto Insurance
After age 50, annual car insurance rates drop slightly until age 55, averaging about $49. 75-year-old drivers pay a few hundred dollars more per year than 50-year-old drivers.
The best auto insurance companies for drivers over 50 are Geico, USAA, Erie Insurance, State Farm and The Hartford.
On an older car, you may carry the minimum coverage required in your state. This includes personal injury liability, property damage liability and sometimes uninsured motorist coverage. Full coverage is generally not required for older vehicles whose value has decreased. Make sure you can afford to repair the car in case of an accident or replace the car if it is totaled.
By far, teenagers have the highest auto insurance rates in general. Our estimates show that 16-year-olds pay about $6,912 a year for full-coverage individual insurance policies, and 17-year-olds pay an average of $5,612 a year. The risk of an accident is higher with young drivers, so they pay more.
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Drivers between the ages of 50 and 65 usually have the lowest auto insurance rates. That said, everyone ages 35 to 65 pays about the same for coverage.
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