Car Insurance Costs for 50-Year-Olds (and Those Over 50)
State Farm has the cheapest full coverage and minimum coverage rates for most 50-year-olds.
Progressive and Travelers are also cheap, while Farmers and Allstate tend to be expensive. Full coverage costs a lot more than minimum coverage but gives you protection for damage to your own car.
Find Cheap 50-Year-Old Auto Insurance Quotes
How much is car insurance for a 50-year-old?
A 50-year-old pays an average of $183 per month for full coverage car insurance.
State Farm has the cheapest full coverage and minimum coverage rates for 50-year-olds. USAA is an even cheaper option, but it's not available to most people. You can only get USAA if you're a veteran, military member or qualifying family member.
Full coverage
Minimum coverage
Full coverage
Minimum coverage
Find Cheap 50-Year-Old Auto Insurance Quotes
Just because a company has cheap rates overall, that doesn't mean it'll be the cheapest or best company for you. It's always a good idea to shop around and compare quotes from different companies. That lets you find the cheapest rate for your specific needs.
Cheapest car insurance companies for 50-year-old drivers
Full coverage
Minimum coverage
Company | Editor's rating | Monthly rate | |
|---|---|---|---|
| State Farm | $134 | |
| Progressive | $147 | |
| Travelers | $160 | |
| Geico | $189 | |
| Farmers | $273 | |
*USAA is only available to military members, veterans and their families.
Full coverage
Company | Editor's rating | Monthly rate | |
|---|---|---|---|
|
| State Farm | $134 | |
|
| Progressive | $147 | |
|
| Travelers | $160 | |
|
| Geico | $189 | |
|
| Farmers | $273 | |
*USAA is only available to military members, veterans and their families.
Minimum coverage
Company | Editor's rating | Monthly rate | |
|---|---|---|---|
|
| State Farm | $59 | |
|
| Progressive | $62 | |
|
| Travelers | $81 | |
|
| Geico | $82 | |
|
| Farmers | $114 | |
*USAA is only available to military members, veterans and their families.
How much is car insurance for a 50-year-old compared to other ages?
On average, 50-year-olds pay $20 less each month for full coverage compared to 30-year-olds.
Because most 50-year-olds have years of driving experience, their rates tend to be lower than rates for younger drivers. Rates tend to be fairly steady for most people after age 45.
Car insurance rates for drivers over 50
Car insurance rates decrease as you age and get more driving experience. For most people, rates start to level out and stay fairly steady between 45 and 65.
However, car insurance rates start to increase again when you reach your 70s. That's because senior drivers may have a higher risk for getting into accidents.
Age | Monthly rate |
|---|---|
| 50 | $183 |
| 55 | $177 |
| 65 | $181 |
| 75 | $217 |
| 85 | $265 |
Full coverage rates are for an individual policy for drivers living in Illinois, New York, Pennsylvania and Texas, four of the most populated states in the U.S.
How do car insurance prices differ for 50-year-old men and women?
At age 50, men and women usually pay the same amount for car insurance.
Men often pay more than women at younger ages, but by age 30 that gap has closed. Past age 30, men and women usually pay about the same amount for car insurance until age 75 and beyond.
Age | Male monthly rate | Female monthly rate | Difference |
|---|---|---|---|
| 20 | $367 | $338 | 9% |
| 30 | $203 | $203 | 0% |
| 50 | $183 | $183 | 0% |
Car insurance costs for 50-year-olds by state
Car insurance rates change depending on where you live.
Your rate might be higher if you live in a high cost-of-living area, for example, because it's more expensive to repair or replace cars. Rates are also often higher if you live in an area where accidents are more common.
State | Average rate |
|---|---|
| Illinois | $163 |
| New York | $205 |
| Pennsylvania | $156 |
| Texas | $206 |
Average monthly full coverage rates for a 50-year-old.
Find the Cheapest Insurers for Drivers in Your State
How to find the cheapest insurance for 50-year-olds
Your car insurance will probably be cheaper at 50 than it was at younger ages, but there are still things you can do to get a lower rate.
Shop around
Car insurance companies set their rates differently, which means rates can vary by hundreds of dollars per month depending on the company you choose. Shopping around and comparing car insurance rates can help you find the lowest rate for the coverage you need.
While you're comparing quotes, it's a good idea to compare customer service ratings, too. Choosing a company with good service can make a big difference, especially if you have to file a car insurance claim.
Review your discounts
While you're shopping for a new car insurance policy, it's a good idea to look at the discounts a company offers. Even if you already have a policy that you're happy with, reviewing the discounts you're getting and the discounts your company offers can help you find additional savings.
The biggest discount is usually for bundling your car and home, condo or renters insurance together. You might also save by paying your full six-month or annual rate in full, going paperless and not having claims on your record.
Practice safe driving
Driving safely can help you avoid rate increases for filing claims, which means it keeps your rates down over time. Plus, you might get a discount if you don't have any accidents or tickets on your record.
Frequently asked questions
How much is car insurance for a 50-year-old per month?
On average, 50-year-olds pay $183 per month for full coverage car insurance and $133 per month for minimum coverage. Rates change depending on the car you drive, where you live, the coverage you need and more.
What is the cheapest car insurance for people over 50?
State Farm tends to have the cheapest rates for most people age 50 and older. If you're a military member or a direct family member of someone in the military, you should get quotes from USAA, too. USAA often has cheap rates but it's not an option for most people.
Does car insurance go down at 50 years old?
Car insurance rates stay fairly steady through adulthood. Your rate might go down a bit, especially if you haven't filed any claims or gotten any tickets. But you probably won't see a big drop in your rate for turning 50.
Methodology
To find the average cost of car insurance and the cheapest rates for 50-year-olds, ValuePenguin got quotes from four of the most populated states in the U.S. The rates are for 50-year-old men and women with a 2015 Honda Civic EX, good credit and no history of accidents or tickets.
Minimum coverage rates are for just state minimum required coverage. Full coverage rates include higher liability limits as well as comprehensive and collision coverage:
- Bodily injury liability: $50,000 per person and $100,000 per accident
- Property damage liability: $25,000 per accident
- Uninsured and underinsured motorist bodily injury: $50,000 per person and $100,000 per accident
- Personal injury protection (PIP): Minimum, when required by state
- Medical payments: $5,000
- Comprehensive and collision deductible: $500 deductible
ValuePenguin's experts got quotes from seven major insurance companies. Not every company was available in every state.
The rates in this article come from Quadrant Information Services, which sources rates from publicly available insurance company filings. Your rates will likely be different from what is shown.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.