How Much is Car Insurance for a 50-Year-Old?

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Written by
Bob Phillips
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Welcome to this thorough guide to auto insurance coverage for 50-year-olds. You’ve come to the right location if you want accurate and current information to help you make intelligent decisions about safeguarding yourself financially as a driver.

I previously worked as a licensed property and casualty insurance agent, and I had the opportunity in that role to help many people of all ages navigate the process of finding the right car insurance. Through this guide, I’m here to help you find the right auto insurance policy as a 50-year-old motorist.

As you read this guide, we’ll delve into the average expenses of auto insurance for a 50-year-old. We’ll look at the things that impact these expenses and provide actionable advice on ways you can possibly reduce these expenses. I’m not here to sell you insurance. I’m here to give you the information you need to make an informed decision about car insurance coverage.

Don’t forget that the figures I’ve listed below are average figures to give you an idea as to costs. Actual costs relevant to you will depend on your location, credit score, driving history, the insurer, and other factors.

Key Takeaways

  • 50-year-olds can purchase minimum coverage for $1,315 annually

  • The most essential factor in purchasing auto insurance is comparing more than one quote

  • There are various ways for a 50-year-old to cut their auto insurance expenses

How much is car insurance for a 50-year-old?

How much you pay for car insurance as a 50-year-old will depend on things like driving history, coverage type, and gender. On average, a 50-year-old motorist can expect to pay in the range of about $1,315 annually for liability only coverage to $2,701 annually for full coverage.

Figuring out the cost of auto insurance for a 50-year-old is vital since it can considerably impact your cash flow situation. It’s essential to keep in mind that insurance premiums are not uniform and depend on multiple things like driving history, coverage type, and gender.

The big difference between liability only and comprehensive coverage insurance expenses underscores the necessity of knowing what you’re getting in a policy. Liability only coverage might seem like the right choice since it’s cheaper than comprehensive coverage.

But you won’t get the type of protection with a liability only policy that you will with a comprehensive policy. Comprehensive coverage will safeguard you in the event of collisions, damage stemming from natural disasters, and vandalism.

You’ll be glad to know there are effectives strategies for reducing your monthly costs. Maintaining a good driving record and taking advantage of discounts offered by insurers can greatly reduce your monthly costs. It also makes sense to get quotes from different insurance providers so you unearth the right deal for you.

How much is car insurance for a 50-year-old by gender?

Understanding what goes into car insurance costs is vital for any motorist. Multiple things influence costs, and one of the most important ones is gender.

On average, men pay more than women for auto insurance rates, and this is because men are more likely than not to get into trouble on the road. But at the age of 50, the tables are turned since women that age pay a tad more than men that age. Let’s examine the specific expenses connected to auto insurance coverage for 50-year-old male and female motorists.

Coverage Type Annual Cost for Male Annual Cost for Female
Minimum Coverage $1,385 $1,392
Full Coverage $2,648 $2,703

How much is car insurance for a 50-year-old – by state?

Auto insurance prices can vary considerably, and that’s the case whatever age you are. Factors like the state you live in can influence your premiums significantly. Based on my experience and research, I’ve put together an extensive comparison chart detailing the average vehicle insurance premiums for a 50-year-old by state.

State Annual Full Coverage Premium for 50-year-old Drivers
Alabama $946
Alaska $916
Arizona $2,003
Arkansas $911
California $1,533
Colorado $1,104
Connecticut $892
Delaware $1,112
Florida $1,902
Georgia $1,168
Hawaii $1,002
Idaho $645
Illinois $987
Indiana $774
Iowa $817
Kansas $838
Kentucky $1,081
Louisiana $583
Maine $593
Maryland $886
Massachusetts $1,901
Michigan $1,452
Minnesota $1,032
Mississippi $893
Missouri $733
Montana $815
Nebraska $1,035
Nevada $1,114
New Hampshire $682
New Jersey $1,230
New Mexico $891
New York $1,285
North Carolina $982
North Dakota $675
Ohio $748
Oklahoma $953
Oregon $938
Pennsylvania $1,115
Rhode Island $928
South Carolina $685
South Dakota $1,141
Tennessee $793
Texas $1,121
Utah $871
Vermont $713
Virginia $822
Washington $820
Washington, D.C. $997
West Virginia $833
Wisconsin $715
Wyoming $746


The numbers in the chart above are averages to give you a ballpark figure about what you can expect to pay. Your actual premiums will depend on different factors.

How much is car insurance for a 50-year-old by credit score?

While exact rates by credit score aren’t usually published by insurance providers, it’s widely known that credit scores influence car insurance premiums. A lower credit score can mean higher premiums, while a higher credit score can mean lower premiums. According to Forbes, auto insurance prices can climb on average by 76% due to credit scores.

Credit Tier Annual Premium for 50-Year-Olds
Poor $2,649
Fair $2,271
Good $1,435
Very Good $1,389
Excellent $1,135

Cheapest car insurance companies for a 50-year-old

When looking for cost-effective auto insurance for 50-year-olds, several companies stand out due to their affordability and thorough policy options. As a mature driver, you’ll find it easier to get great rates than will a teenager or someone in their early 20s. You need to balance cost and comprehensiveness for the best protection.

Don’t forget that your premium will depend on different things, including your credit score, driving record, and the type of vehicle you drive.

Company Monthly Rate
USAA $108
Erie Insurance $115
GEICO $145
Nationwide $155
Progressive $187
State Farm $194
Liberty Mutual $196
Allstate $199
The Hartford $215

How much is car insurance for a 50-year-old – by vehicle

As a 50-year-old, your rates will be much better than if you were a younger motorist. The type of car you drive can greatly influence your premiums. From safety ratings to repair expenses, different things impact how insurance companies calculate your premium. Knowing how what you drive impacts your insurance coverage costs will help you choose the vehicle you drive.

Vehicle Type Annual Premium for 50-Year-Olds
Sedan $1,446
Hybrid $1,517
Luxury $1,590
SUV $1,335
Truck $1,336
Van $1,488

How much is car insurance for a 50-year-old – by age

As demonstrated in the table below, young drivers tend to pay the most for car insurance due to their lack of driving experience and higher risk profile.

As drivers age and gain more experience, their insurance rates typically decrease, reaching their lowest point in middle age. However, rates begin to rise again as drivers reach senior age, reflecting the increased risk associated with older age.

Age Annual Premium for Minimum Coverage Annual Premium for Full Coverage
22 $3,356 $4,490
35 $2,775 $2,247
40 $2,120 $2,908
50 $1,685 $1,177
60 $1,732 $1,198
70 $1,954 $1,472

How to save money on your car insurance as a 50-year-old

As a 50-year-old, you’ll see that auto insurance can be quite reasonable. This is mostly because you’ll likely have lots of behind-the-wheel experience and a track record for being a driver who prioritizes good driving habits. But there are things you can do to get even lower premiums. Consider these five ways to lower your costs:

Maintain a Clean Driving Record

One of the best ways to lower your auto insurance is to have a clean driving record. Avoiding accidents, steering away from traffic citations, and being responsible by not drinking and driving will help. Insurance providers tend to extend discounts to people who don’t have a history of filing claims because such drivers are statistically low risk.

Take Advantage of Multi-car Discounts

If you have multiple cars or reside with someone who owns more than one vehicle, a multi-car discount might be available to you. Many insurers offer discounts to customers who insure multiple vehicles under a single policy.

Take a Defensive Driving Course

Taking a defensive driving course is a great idea, and it can lead to lower car insurance premiums. You’ll become a better driver—that much is for certain. But another benefit is that insurance providers will likely offer lower rates if you show proof of completing such a course. People who take defensive driving programs are less likely to get into trouble on the road.

Shop Around for the Best Premiums

Your best bet is to look around to see what different insurance providers request for auto insurance coverage. Each insurer has its own way to figure out rates, which means that the rates vary greatly from one insurer to another insurer. When you get multiple quotes from various insurers, you’ll be able to make an informed choice.

Regularly Review Your Coverage

As your life changes, you should look at your coverage. A review is in order at least once annually or whenever you experience a big life change like a new job, a move to another city, or a marriage. Doing this will ensure you always have the coverage you need while not holding onto coverage that you no longer need.

By following these tips, you can lessen your car insurance premium, leaving more cash in your wallet or purse. Keep in mind that the key to getting cheap car insurance is proactively showing insurance providers that you represent a low risk.

How to buy car insurance as a 50-year-old

Purchasing vehicle insurance can be tedious if you’re not sure how to do it correctly. But with the right information and strategy, it can be easier than you thought. Consider these seven steps to confidently get through the process of purchasing auto insurance as a 50-year-old:

Get Your Information Together

Before you start seeking out auto insurance coverage, get your ducks in a row by assembling the necessary information. So, gather your driver’s license number, details about your driving history, and your vehicle identification number.


Maintain an Impeccable Driving Record

Maintaining a good driving record is an effective way to earn a low car insurance rate. So, you’ll want to avoid at-fault collisions and traffic tickets since these things can cause your rates to skyrocket.


Choose What Coverage You Need

Different drivers have different requirements. That’s why it’s essential to figure out what coverage you require before looking for auto insurance. Look at things like the age of your vehicle, the worth of your vehicle, your budget, and your risk tolerance capacity.


Choose How to Shop for Auto Insurance

There are various ways to shop for auto insurance. You can purchase it online, buy it from a company representative, or buy it from an independent insurance agent. Each option has its pros and cons, so select the option that’s best for you.


Compare Quotes

It’s a mistake to choose the first quote presented to you. Get more than one quote from different companies so you know you’re getting the best deal. Remember, each insurance provider uses its own method to determine rates, so prices can vary substantially.


Purchase Your Policy

Once you’ve compared several quotes and chosen an insurer, you need to buy the policy. Before doing so, however, you need to read the entire policy to ensure you know what is and is not covered.


Regularly Review Your Coverage

Your insurance requirements may change in the future, so it’s vital to review it periodically. Ensure you’re not paying for things you don’t need anymore. Meanwhile, you want to ensure that you’re updating your coverage so that it keeps up with your needs at every stage of life.

By following these tips, you’ll see that purchasing auto insurance as a 50-year-old can be a simple and easy process. Don’t forget the secret to getting the best car insurance coverage is to shop around, get quotes from at least three insurers, compare and contrast the quotes, and choose the right one for your needs.



What is the best car insurance for a 50-year-old?

Using my personal experience as a licensed insurance agent, comparison charts, and client ratings, I believe GEICO offers an impressive balance of cost-effectiveness and full coverage. It goes beyond merely the numbers. Testimonials reinforce my opinion. GEICO offers great customer service, strong policy options, and big discounts for safe driving and safety technology.

At what age is car insurance the cheapest?

Based on my research, drivers who get the lowest-cost car insurance are those between the ages of 50 and 60. Drivers in this category have lots of driving experience, which insurers look kindly on because experienced drivers present a lower risk


  • Forbes – Effect of credit score on rates
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