Car insurance is a legal requirement in almost every state, regardless of your age and how frequently you drive. If you’re about to turn 40 or recently celebrated your 40th birthday, it’s a good time to review your car insurance policies and reassess your needs. Plus, some 40-year-old drivers might be able to get a lower car insurance rate by getting new quotes.
The average car insurance premium for someone in their 40s is around $1,700 per year.
If you’re in the market for good car insurance for 40-year-olds, here are a few things you should know, including what types of coverage you might need, how much you can expect to spend, and how you can potentially get a cheaper premium.
Our rates are based on public rate filings obtained by analytics company First Interpreter. While we may partner with some of the carriers you see on our site, we maintain editorial independence and it does not affect the rates you see. Read more about our rating methodology or see our rigorous editorial policy.
The average car insurance premium for someone in their 40s is around $1,250 per year. This rate is for a full coverage policy for a single male with a clean driving record. Below you can see the average rate in your state.
Annual rates for a male driving a 2023 RAV4, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024.
It’s important to remember that the price you will pay depends on a variety of personal factors. In addition to age, car insurance rates may be impacted by your location, credit score, gender, marital status, driving record, and claim history. In addition, your insurance company, the car you drive, and your chosen policy limits will also impact your premium.
Because the price of car insurance for 40-year-olds can vary, it’s important to get a few car insurance quotes from multiple insurers before buying a policy. That’s one of the best ways to make sure you’re getting the cheapest rate for the type and amount of coverage you want.
The best car insurance company for you may be different than the best company for your neighbor or friend. If you’re looking for a place to start your search, Nationwide, State Farm, Progressive, Geico, and Auto-Owners Insurance are popular companies that offer coverage in a large portion of the US.
A 45-year-old male can expect to pay around the rates below at each company.
| Company | Average Annual Premium |
|---|---|
| USAA | 1,366 |
| Progressive | 1,386 |
| Nationwide | 1,482 |
| Auto-Owners Insurance | 1,559 |
| Geico | 1,605 |
| Travelers | 1,713 |
| State Farm | 1,904 |
| Allstate | 2,219 |
| Farmers | 2,251 |
Annual rates for a male driving a 2023 RAV4, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024.
Your rates will be different depending on where you live, your driving record and credit score, and the vehicle you drive.
It’s also a good idea to compare rates from local companies as well that aren’t included in the above rates.
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Car insurance is not a one-size-fits-all product. Insurance companies sell dozens of car insurance policies, some required (depending on where you live), some optional.
In most states, vehicle owners are required to carry personal liability insurance, which covers bodily injury and property damage. If you cause an accident, this policy compensates the other driver for their losses, including medical bills if they get injured and their vehicle’s repairs. Each state requires a minimum amount of liability insurance, with a per-person and per-accident policy limit.
In no-fault states, drivers are typically required to carry personal injury protection (PIP). If you live in a no-fault state and you get into an accident, your PIP policy covers your medical bills if you get injured, regardless of which driver caused the accident. PIP also covers your passengers if they get hurt in a crash.
In addition to the required policies, there are a variety of optional car insurance coverages that 40-year-old drivers can benefit from. These add-ons will provide higher levels of protection, typically for a higher premium. Some of these add-ons include:
Collision Insurance
When you cause an accident, collision insurance pays for your vehicle’s repairs, minus a deductible. Collision insurance reimburses you based on the actual cash value (ACV) of your vehicle, which accounts for depreciation.
Comprehensive insurance
Comprehensive insurance is often called “other than collision” insurance. It pays for your vehicle’s repairs after a non-accident event, like theft, vandalism, fire, flood, hail damage, or falling objects. Like collision insurance, comprehensive coverage covers your vehicle based on its ACV.
Gap insurance
If you lease or finance your vehicle, having gap insurance can be beneficial. If your car is totaled, gap insurance covers the difference between your car’s value and what you still owe.
Accident forgiveness
Accident forgiveness waives your first at-fault accident, so it won’t impact your premium. This policy may only apply to minor accidents where the total losses are under a specific amount. In addition, some insurers will only offer accident forgiveness if you have a clean claim history.
Roadside assistance
This endorsement covers certain roadside repairs, like fuel delivery, battery replacement, flat tire repairs, and towing if your car breaks down.
There are plenty of ways to find affordable car insurance for 40-year-olds. Here are some ways to save money on your policy:
Drop coverages you don’t need:
If you think you’re paying too much for car insurance, consider dropping policies you no longer need. For example, if your car is only worth $1,000, it might not make sense to keep collision or comprehensive insurance.
Find discounts
Most insurance companies provide discounts to help drivers lower their rates. You can often find discounts for bundling an auto and home insurance policy, insuring multiple vehicles, taking a defensive driver course, having certain safety features in your vehicle, having a clean driving record, and driving infrequently.
Improve your credit score
In most states, insurers check your credit score when calculating your rate. Drivers with good credit get rewarded with a lower premium because they’re viewed as less risky. Improving your credit score can help you save money on your monthly car insurance premium.
Raise your deductibles
For policies with a deductible, like collision and comprehensive insurance, your premium is affected by the deductible you choose. If you want to save money on your monthly premium, selecting a higher deductible will lower your rate. However, you should only raise your deductible to an amount that you can comfortably pay out-of-pocket should you need to make a claim.
After you turn 40, you should consider shopping around for new car insurance policies. Common reasons you may want to switch car insurance include:
If you’re unhappy with your current car insurance company, you can also think about switching providers. For example, if there are certain endorsements that your current insurer doesn’t offer, you might find a provider that has a better selection of additional policies. If you’re hoping to get more personalized customer service, you can think about switching to a smaller, local carrier.
Finding the right insurance company can be challenging, as there are hundreds of companies on the market. Before you start shopping for new policies on your own, take our short survey to find the best insurance carrier for your needs.
Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive.
For the data on this page, we made the following assumptions: a single male with a clean driving record and Good credit score, driving a 2023 RAV4. We adjusted this profile by age to determine the rates you see on this page.
These rates are not actual quotes and should be used only for comparative purposes. Your rates can vary significantly based on your unique driver profile.
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