Car Insurance Over 50

Affordable car insurance over 50 is not hard to find; in fact, car insurance over 50 is cheaper than average. Drivers 50 and older can stack insurance savings by participating in driving course programs like the State Farm accident prevention course. The average cost of auto insurance for a 50-year-old driver is $1,305 per year or $108 per month. When you're eligible for other discounts you can save even more on car insurance. Get car insurance over 50 quotes now. Continue reading to learn more.

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Car Insurance Over 50

Affordable car insurance over 50 is not hard to find; in fact, car insurance over 50 is cheaper than average. Drivers 50 and older can stack insurance savings by participating in driving course programs like the State Farm accident prevention course. The average cost of auto insurance for a 50-year-old driver is $1,305 per year or $108 per month. When you're eligible for other discounts you can save even more on car insurance. Get car insurance over 50 quotes now. Continue reading to learn more.

Marissa Hayes is a technical editor and contributing writer for Insurantly.com. She holds a Bachelor’s Degree in history, and she was the editor of the literary...

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance...

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Reviewed byDaniel Walker
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UPDATED: Sep 22, 2020

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  • Car insurance for 50-year-old drivers is cheaper than teen driver insurance.
  • State-approved driving courses and accident prevention courses may be required to receive a discount.
  • Some auto insurance companies don’t have senior discounts, but they lower premiums for older drivers.
  • Drivers can save money on car insurance as they get older.

Car insurance over 50 years old is much cheaper than when you were younger. But you can save even more with programs like State Farm Accident Prevention course discount. To qualify for auto insurance discounts, you’ll need to take a defensive driving course or accident prevention course. These courses are hosted by your home state and can help you save money on auto insurance.

In this guide, we’ll explain everything you need to know about car insurance for 50 and older. Start comparing car insurance quotes right now to get affordable car insurance over 50. Enter your ZIP code in the FREE comparison tool above to find car insurance over 50 quotes in your area.

Getting Cheap Car Insurance For Drivers Over 50

If you’ve over age 50 or 55, age may have some privileges when it comes to your auto insurance rates. Car insurance over 50, for females or males, is more affordable. Before we move onto more details, let’s examine the average auto insurance rates for drivers 50 and older.

Average Car Insurance Rates For Drivers 50 and Older
Insurance CompanyAverage Annual RatesAverage Six-Month RatesAverage Monthly Rates
USAA$908$454$75
Geico$1,086$543$90
State Farm$1,182$591$98
Nationwide$1,240$620$103
Liberty Mutual$1,354$677$113
Progressive$1,408$704$117
Farmers$1,426$713$118
Allstate$1,834$917$152
Average$1,305$652$109
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USAA, Geico, and State Farm provide the cheapest auto insurance rates.

In some states, auto insurance discounts for drivers over 55 are mandated if they take a state-approved class and meet other requirements. You can take the course online in some states, but others require classroom attendance. After completing the class, you get a certificate to bring to your insurer as proof of completion. You may have to take the course every three years to maintain the discount.

Most states leave it up to the insurer to determine the discount you’ll receive, but it’s usually five to ten percent. But even if your state doesn’t mandate this pricing break, some insurers offer it anyway, and some offer discounts beginning at age 50.

Are there car insurance over 50 deals? As you turn 50, check with your auto insurance company to see if your rate may be lowered based on your age and if so, if you have to meet any additional requirements. It’s also an excellent time to shop around to make sure you’re getting the best coverage at the best rate.

Geico Auto Insurance Over 50

The benefit can vary according to the state in which you live, but a typical discount from Geico is ten percent for drivers 50 and older. You won’t find a Geico mature driving course online, but you can take a mature driving course in the state where you live.

Drivers who complete a state-approved defensive driving course is eligible for Geico’s driver safety course discount. Also, Geico has a guaranteed Prime Time renewal plan for drivers 50 and older.

To qualify, you must have no drivers under 25 using your car, have no violations or accidents in the previous three years, and not use your vehicle for business. If you meet these requirements, your policy will be a guaranteed renewal.

Nationwide Auto Insurance Over 50

Nationwide offers a 10 percent discount to drivers over 55 who completed an approved driver safety course. As with other companies, the amount and eligibility vary by state.

Progressive Auto Insurance Over 50

Progressive offers a mature driver discount of 5 percent for drivers over 55 who have passed a state-approved accident prevention course. Although car insurance rates are cheaper for drivers 50 and older at Progressive, you won’t receive a Progressive, mature driver discount. Progressive is one of many companies that don’t offer senior driver discounts.

State Farm Car Insurance Over 50

State Farm reduces premiums by five percent for drivers over 55 who have taken an accident prevention course within the previous three years. The program is known as the State Farm Accident Prevent Course discount. If you’ve taken a driving safety course approved by your state, you’re also eligible for State Farm Driver Safety Course discount (also called Defensive Driving Course Discount).

State Farm driving course program require its policyholders to take a state-approved driving course to be eligible for the discount.

However, drivers 50 and older will not receive a discount for being a senior. Although State Farm auto insurance rates are cheaper for older drivers, there isn’t a State Farm mature driver discount.

Allstate Car Insurance Over 50

Allstate has a 5 percent mature driver discount to drivers who complete a driving course. Based on the car insurance rates above, Allstate is the most expensive company for drivers 50 and older. However, drivers who are at least 55 years old can receive a 10 percent senior driver discount. If the senior driver has a clean driving record and good credit, you can save even more auto insurance.

How is credit relevant to car insurance savings? According to the Federal Trade Commission, the insurance industry issue lower rates for consumers with good credit scores because they’re less likely to file a claim than those with a poor credit score.

Farmers Car Insurance Over 50

Drivers who are 55 and older can earn a discount for taking a state-approved Safe Driver Program within the previous three years. Why three years? Car insurance companies look back at a customer’s driving record every three years, which is the same amount of time a speeding violation or other traffic violation stays on your driving record.

USAA Car Insurance Over 50

USAA is known for its affordable rates for customers. Only members of the U.S. Armed Forces (active and retired) and their immediate families are eligible for USAA insurance. For mature drivers, a discount of at least five percent is offered in some states who complete a safe driving course.

Other Ways for Older Drivers to Save

In addition to qualifying for mature driver discounts, you may also be able to save money on car insurance in the following ways as you age. Check out our guide that lists seven tips for car insurance policy discounts.

You’ve Retired

If you’ve retired, let your auto insurance company know. You may be driving fewer miles, particularly in congested traffic, so your rates may be lowered. Also, if you used your car for business purposes, you’ll probably be able to reduce your rate once you retire. Watch this video to learn more about car insurance for retirees.

Knowing your options and how to save on auto insurance can managing your finances so much easier, especially in situations where you’re on Medicare or have a retirement plan.

Your Kids Are No Longer Teens

If you’ve had a teen driver on your policy, you may have faced some increased rates. But when you reach age 50 or 55, your child may have moved beyond his or her teen years. If they’re in college or have moved out of your house, you may be able to lower your car insurance rates. Even if they’re still at home, you may be able to lower your rate as they get older and gain more driving experience.

You’re probably wondering why insurance for teens so expensive. You may have guessed that teens are less experienced drivers, and that’s why rates are so expensive, which is true. However, car insurance companies examine the statistics of teen drivers per year.

One of its sources is the Center for Disease Control (CDC). According to the CDC, fatal car crashes are the leading cause of teen deaths in the United States. Car insurance companies want to be prepared for any possibility and issue higher rates for teen drivers because they have a higher rate of getting into an accident.

Your Parents Who Live With You No Longer Drive

You may have an older parent who lives with you and no longer drives. If that’s the case, you may be able to exclude him or her from your coverage and save some money.

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Does car insurance go down as you get older?

Although your insurance rates can fall when you’re 50 or 55, they can start to rise again as you age further. Some insurers can raise rates as you turn 65 or 70, since you may be more likely to have age-related cognitive functioning issues and a decline in vision. Also, you’re more susceptible to injuries from an accident, and they’re likely to be more severe.

It pays to check your coverage and take steps to reduce your rates. Many companies will reduce rates for drivers of any age who complete a defensive driving course. Also, make sure to let your insurer know of any changes, such as a reduction in the number of miles you’re driving, that could reduce your rates.

As you turn 50 or 55, shop around to ensure that you’re receiving the coverage and service you need for the best possible price. Ask your current insurer about any mature driver discounts they may offer and shop around to compare multiple car insurance quotes.

Frequently Asked Questions: Car Insurance Over 50

Let’s recap what you’ve learned in this guide by answering frequently asked questions related to car insurance for drivers over 50. These answers will give you more insight into auto insurance companies and more confidence in making a final decision on what company you want.

Ready to buy car insurance over 50? Compare car insurance over 50 rates in your area by entering your ZIP code in the FREE online quote tool below.

#1- Who has the cheapest car insurance for seniors?

USAA, Geico, and State Farm have the cheapest auto insurance for seniors. This could vary by state. Use our online comparison tool to find affordable rates near you.

#2 – Is over 50s car insurance cheaper?

Yes. Seniors are bracket where they pay the least for auto insurance.

#3 – What is the best car insurance for seniors?

While Geico and USAA are the cheapest for seniors, Allstate provides the most discounts for senior drivers.

#4 – Who is the cheapest car insurance?

The cheapest car insurance company is USAA.

#5 – Why is Progressive Insurance so cheap?

Progressive is one of the cheapest companies because they provide several discounts that help cost-efficient drivers.


References:

  1. https://www.consumer.ftc.gov/articles/0152-credit-scores
  2. https://www.cdc.gov/motorvehiclesafety/teen_drivers/teendrivers_factsheet.html

 

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