The Best Car Insurance Companies for 50 Year Old Drivers

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50 year old man driving in the car

Finding the best car insurance can be challenging, regardless of age. While one insurer may offer great coverage, another may provide competitive discounts that have you second-guessing your decision. 

Drivers in their 50s are familiar with the routine search for car insurance, but this doesn’t mean they find it any easier. 50-year-old drivers generally have more road experience, meaning they are less likely to get into accidents. Although this is true, drivers in this age group may still find it reasonably difficult to find affordable car insurance rates.

If you’re a driver in your 50s looking for cheap auto insurance, you may wonder, “Which company is best?” This article will dive into some of the best car insurance companies for 50-year-old drivers. We’ll also discuss what life changes affect your policy and how you can save money on car insurance. 


Key Takeaways 

  • Auto insurance rates for 50-year-olds are cheaper than other age groups but vary between insurance companies.
  • Life changes such as taking kids off your policy, changes in annual mileage, or vehicle type can significantly impact rates. 
  • Defensive driving course discounts can help middle-aged drivers lower the cost of insurance premiums.

Best Car Insurance Companies for 50-Year-Old Drivers 

The best car insurance company for a 50-year-old driver depends on many factors. Each insurer has its pros and cons, and what works for one driver may not work for another. However, we’ve compiled a few great options for drivers in their 50s. 

Geico – Best Choice for Budget Drivers 

The first choice on our list, GEICO, is known as an affordable choice for drivers in their 50s, offering several discounts for drivers 50 and up. In addition, its unique Prime Time contract gives senior drivers guaranteed renewal when purchasing a policy with GEICO. The unique agreement prevents policy cancellations, even if you receive traffic violations before renewal. 

In addition, GEICO is an insurer with a good reputation among customers. For example, it ranked among the top three insurers in Texas, New York, and the Central and Northwest Regions in the J.D. 2022 U.S. Auto Insurance Study. 

Pros: 

  • Low rates for senior drivers 
  • Majority of coverage options available nationwide

Cons:

  • Not a good fit for drivers with poor driving records
  • Lacks gap or rideshare insurance

Ratings: 

  • Better Business Bureau: A+
  • J.D. Power Rating – 871/1000

Discounts: Geico has several auto insurance discounts, including:

  • Safety discount for having vehicles equipped with anti-lock brakes or anti-theft system 
  • Multi-policy discount when bundling homeowners, renters, or condo insurance through Geico 
  • Student discounts for good grades
  • Being an active or retired military member 
  • Completing a state-approved defensive driving course 
  • Five-year good driver discount for driving without accidents for five years 

Coverage:

Nationwide coverage 

Insurance coverage: 

  • Liability car insurance 
  • Collision insurance
  • Comprehensive insurance 
  • Personal injury protection 
  • Medical payments
  • Uninsured/underinsured motorist coverage 

Optional Coverage:

  • Emergency roadside assistance 
  • Rental car reimbursement 
  • Rideshare insurance 
  • Mechanical breakdown insurance

Nationwide – Best Choice for Low Mileage Drivers 

If you find yourself spending less and less time on the road, Nationwide might be the right choice for you. It offers a pay-per-mile program known as SmartMiles. The program calculates premiums on a per-mile basis, making it a cheap option for older drivers who don’t drive as much as they used to. 

However, drivers in Alaska, Louisiana, Massachusetts, and Hawaii don’t have access to coverage. It also lacks unique discounts to set it apart from other insurers.

Pros:

  • Variety of insurance coverage options 
  • High customer service ratings 

Cons:

  • Expensive premiums for drivers with DUI 
  • Not available nationwide 

Ratings: 

  • AM Best: A+
  • J.D. Power Rating: 829/1000

Discounts:

  • Multi-policy discount when bundling two types of Nationwide policies 
  • Automatic payment discount when enrolling in autopay 
  • Good student discount for drivers ages 16 to 24 who maintain a B average or better in school
  • Paperless discount for drivers who opt to receive statements online 
  • Accident-free discount for an accident-free driving record 
  • Safe Driver discount when drivers remain free of at-fault accidents or major violations 

Coverage:

Not available in Alaska, Hawaii, Louisiana, and Massachusetts 

Insurance coverage:

  • Liability car insurance 
  • Collision insurance
  • Comprehensive insurance 
  • Personal injury protection 
  • Medical payments
  • Uninsured/underinsured motorist coverage 

Optional coverage: 

  • Roadside assistance 
  • Vanishing deductible
  • Accident forgiveness
  • Gap coverage
  • Rental reimbursement coverage 

State Farm – Best Choice for Bundling 

One of the largest insurers in the country, State Farm offers generous discounts, making it an excellent choice for bundling. Drivers will save money by combining auto policies with renter’s, condo’s, or homeowner’s insurance. 

State Farm offers savings for safe driving, parents with students, and drivers with multiple vehicles. The company receives praise for its positive customer reviews. With coverage in all fifty states, seniors won’t need to worry about coverage if they choose to move as they age. 

Pros:

  • Positive customer reviews 
  • Generous discounts offered to drivers 

Cons: 

  • Complicated claims process 
  • Gap insurance unavailable 

Ratings:

  • AM Best – A++
  • JD Power: 848/1000
  • Better Business Bureau: A+

Discounts:

  • Multi-car discount by insuring two or more cars in your household with State Farm 
  • Multi-policy discount from bundling auto insurance with homeowners, condo, or renters insurance 
  • Accident-free discount is earned by staying accident-free for three years 
  • Good student discount lowers your premium by 25% when your student maintains a B average or 
  • Student away at school discount for students under the age of 25, living on a college campus, and not driving their vehicle
  • Anti-theft discount from equipping your vehicle with anti-theft devices 
  • Defensive driving discount after taking a defensive driving course to sharpen driving skills 

Coverage:

Nationwide coverage 

Insurance coverage: 

  • Liability car insurance 
  • Collision insurance 
  • Comprehensive insurance 
  • Medical payments coverage
  • Personal injury protection 
  • Uninsured/Underinsured motorist coverage 

Optional Coverage:

  • Roadside assistance 
  • Rental car reimbursement 
  • Rideshare insurance 
  • Travel expense 

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The Hartford – Best Choice for AARP Members 

The Hartford is known for being the best choice for drivers who hold AARP membership. It offers several discounts and perks for older adults. With over 200 years under its belt, The Hartford has plenty of experience providing excellent customer service to customers. All policies come with lifetime renewability, allowing customers to hold continuous coverage without worry. 

Pros: 

  • Offers additional coverage options for home insurance 
  • Additional benefits with AARP membership  

Cons:

  • Lackluster customer service 
  • Expensive rates for younger drivers 

Ratings: 

  • AM Best: A
  • Better Business Bureau: A+
  • JD Power Ranking: 842/1000 

Discounts:

  • Multi-policy discount saves you money when you bundle home and auto insurance together 
  • Pay-in-full discount ensures you get a discount for paying for your policy all at once
  • Anti-theft device discount for having a vehicle equipped with a locator or alarm
  • Defensive driver discount applies to drivers who send in a completed defensive driving course certificate
  • Electric/ Hybrid discount for drivers with fuel-efficient or electric cars
  • Driver training discount applies to younger drivers who take an approved driver course to sharpen their skills on the road 

Coverage: Available in 50 states to AARP members 

Insurance coverage:

  • Liability car insurance 
  • Collision insurance 
  • Comprehension insurance
  • Medical payments 
  • Personal injury protection (PIP)
  • Underinsured/Uninsured motorist coverage
  • Roadside Assistance 
  • New Car Replacement 

Optional coverage:

  • Deductible waiver 
  • Disappearing deductible
  • First accident forgiveness
  • $100 collision deductible reduction 

How Car Insurance Changes When You’re 50

50 year old woman smiling while driving her car

Getting discounts for concert tickets and coffee aren’t the only changes that start to happen when you turn 50. During your 50s, you’ll likely go through a lot of life changes. For example, you might go from having a busy home full of kids to an empty nest or finally hanging up your long-time job. These changes can affect your insurance policy and how much you pay for monthly coverage. 

Taking Kids Off Your Policy 

Many drivers in their 50s may start taking kids off their insurance policy. Your kids may head off to college, move out, or get married. Removing your children from your policy can provide savings on your insurance payments. 

You can qualify for discounts if you still need to keep your kids on your policy. Older drivers with kids still in school could save money based on good report cards or a high GPA. Contact your insurance agent to see what potential discounts.  

Changes in Annual Mileage 

As drivers age, they tend to spend less time on the road due to early retirement or working closer to home. Whatever the case may be, the amount of time you spend driving has a direct impact on your insurance premium. Depending on your annual mileage, you may even qualify for a low-mileage discount from your insurer. 

Changes to Vehicles

Planning to buy that fancy sports car you’ve always wanted? Changes in vehicle make and model will almost always impact your auto insurance cost. As a result, many drivers choose to check the cost of insurance premiums before purchasing a new car. 

Tools like Compare.com make it easy to see the average car insurance rates for your future car. Enter your zip code below to get the best car insurance rates. 


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The Average Car Insurance Cost for 50-Year-Old Drivers

While car insurance premiums are lower for drivers in their 50s, this isn’t the case for everyone. Some drivers may feel that their costs for auto insurance are sky-high. The cost of car insurance for 50-year-old drivers depends on factors like gender, location, driving history, or credit score.  

The AAA Foundation for Traffic Safety reported that the crash rate of drivers aged 16-17 was nearly double that of drivers between the ages of 30 to 70. Further, drivers in their 50s were involved in 315 accidents, while younger drivers had a crash rate of 4.5 more, at 1,432. 

Insurance companies use statistics like these to determine the cost of insurance for older adults. Since older drivers are less risky to insure, they’ll generally see cheaper rates. 

Ways to Save on Car Insurance at 50 Years Old

No matter your age, there are measures you can take to enjoy savings on car insurance. Here are a few ways you can save on auto insurance at 50. 

Complete Defensive Driving Courses 

Taking a defensive driving course helps drivers save big. Drivers 50 and older can receive discounts for completing a state-approved defensive driving course in participating states. 

While some courses require you to complete them in person, several are available online. The discount awarded varies between states and insurers, so contact your insurance agent to see how much you can save. 

Re-examine Coverage Limits 

For some drivers, one of the best ways to lower your insurance premium is to reevaluate your current coverage limits. You may realize that you can reduce the amount of coverage on your vehicle or choose the state-minimum insurance limits. 

Let’s say you drive an older, paid-off car. However, the car’s value may be less than any compensation you would receive in an accident should your car be totaled. If you lower your coverage limits, you can save money to replace your vehicle or pay for a rental car. However, the downside is you’ll be losing out on valuable protection you have. 

Shop for Senior Discounts 

When it comes to discounts for age, many insurers offer senior discounts for 50-year-old drivers. Some insurance companies may only provide discounts once drivers reach 55, 60, or 65 years of age. 

As you shop for car insurance, look for discounts such as: 

  • Good student discount
  • Multi-car discount
  • Multi-policy discount
  • Paid in Full discount 
  • Paperless discount
  • Senior discount 
  • Anti-theft discount 
  • Safety discount 
  • Loyalty discount 

Raise Your Deductible

You’ll need to choose a deductible if you pay for collision or comprehensive insurance. Your deductible is the amount you pay out-of-pocket when involved in a crash. Raising your deductible increases this amount and can decrease the overall rate of your insurance premiums. 

If you choose a high deductible, make sure you can afford it. Otherwise, you might find yourself stuck with a car you can’t afford to repair. 

Maintain a Clean Driving Record 

One of the easiest ways to save money on auto insurance is to keep your driving record clean. Your driving record and history directly influence how much you pay for car insurance. 

A driver over 50 with no record of at-fault accidents or tickets will pay much less than a driver with incidents on their record. If you have accidents on your record, search for new insurance when they drop off your driving history. 

Shop Around and Compare Rates 

Shopping for car insurance each time your policy is up for renewal is one of the best ways to ensure you get good car insurance deals. When searching for auto insurance, look at discounts, pricing, and coverage offered. Although drivers in their 50s will pay much less for car insurance than other age groups, car insurance varies significantly between insurers. 

Take time to compare quotes from several companies. Instead of visiting each company’s website, save time using an online car insurance comparison tool. You’ll get access to dozens of auto insurance quotes at once. Sites like Compare.com make it easy for drivers to compare rates from multiple companies in one central location.

Just enter your zip code below to get started on your search


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Tips to Find the Best Car Insurance Company

Look into smaller insurance companies 

Don’t forget to look into smaller auto insurance companies while searching for auto insurance. These smaller companies will offer more competitive rates in many areas than their competitors. Since smaller companies are often more selective in the customers they insure, they can offer lower rates. 

Local insurers don’t always have the same advertising power as larger insurers, so you’ll need to seek them out. You can find several reputable companies listed in the JD Power Rating. 

Check the insurance company’s financial rating 

You want to make sure that the insurer you choose is financially secure. The last thing you want is to decide on a seemingly promising company, only for it to go under for over-insuring. You can use ratings by the Better Business Bureau, A.M Best, and the JD Power Rating to check the reputation of insurers. 

FAQs About The Best Car Insurance Companies for 50-Year-Old Drivers 

Do 50-year-olds pay less for auto insurance?

Yes, drivers in their 50s will pay much less for auto insurance than younger drivers in their teens and early twenties. 

How much do 50-year-olds pay for auto insurance?

Drivers in their 50s pay less than younger drivers for auto insurance. However, since each insurer uses a unique algorithm to determine rates, it uses factors like age, location, and driving history. 

What is the best car insurance company for 50-year-olds? 

Some of the best car insurance companies for 50-year-old drivers include Geico, Nationwide, State Farm, The Hartford, and USAA.

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