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The best car insurance for 50-year-olds in 2024

As you get older, it’s important to assess your car insurance needs. If you recently turned 50 or are about to turn 50, now is an excellent time to review your current policy.

For example, if your kids are off to college, it might be time to remove them from your coverage. If you’re an empty nester who is getting ready to move, you should start shopping for policies in your new state. In addition, 50-year-old drivers may be newly eligible for certain car insurance discounts, like a defensive driver discount or discounts associated with AARP.

If you’re in the market for good car insurance for 50-year-olds, here’s what you need to know.

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Why you can trust Rate Retriever

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. 

Written by Alyssa DiCrasto

Reviewed by Rob Deming

Last updated: February 26th, 2024

How much is car insurance for 50-year-olds?

By age 50, most drivers will be paying consistent car insurance rates, meaning your premium shouldn’t dramatically increase or decrease, assuming you are a safe driver with good credit. The national average car insurance cost for individuals in their 50s is between $1,000-3,000, depending on where you live. 

To give you an idea of what you might pay for car insurance as a 50-year-old, these are the average rates in each state for a single 57-year-old male

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. 

Remember, the price of car insurance for 50-year-olds is based on your personal situation, so you could pay more or less than average. When you apply for a car insurance quote, some of the factors that will contribute to your rate include: 

  • Location 
  • Credit score (in some states) 
  • Gender 
  • Driving record 
  • Insurance claims history
  • Vehicle age 
  • Vehicle make and model 

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

Like the rates you’ll pay, the best car insurance company for you will depend on a variety of factors, so it’s best to compare rates from a few different variety of companies. If you’re looking for a place to start this search, Nationwide, State Farm, Progressice, Geico, and Auto-Owners Insurance are popular companies that cover a large portion of the US and provide lower rates for 50-year-olds. 

The below rates show what a single 57-year-old male would pay on average at some of the most popular insurance companies in the US. 

Company Average Annual Premium
Progressive 1,282
USAA 1,294
Nationwide 1,354
Auto-Owners Insurance 1,459
Geico 1,509
Travelers 1,560
State Farm 1,773
Farmers 2,073
Allstate 2,096

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 a good idea to compare rates from local companies as well as national ones to see who will give you the best rates.

What are the types of car insurance for 50-year-old drivers?

Car insurance is a legal requirement in almost every state for all vehicle owners, regardless of their age. In most states with mandatory car insurance, 50-year-old drivers must carry personal liability insurance, which includes bodily injury and property damage coverage: 

  • Bodily injury liability: This coverage takes effect when you cause an accident, and the other driver gets injured. It pays for their medical bills up to the policy limit. Bodily injury liability insurance has a per-person limit and a per-accident limit. 
  • Property damage liability: This coverage applies when you hit another driver and their vehicle gets damaged, or you damage someone else’s property. It compensates the other driver based on your property damage policy limit. Property damage liability insurance only has a per-accident limit. 

In addition to liability insurance, there are a variety of optional car insurance policies that can be beneficial, as well. Here are some types of optional car insurance that 50-year-old drivers might want to consider: 

  • Collision insurance: Collision insurance covers the cost of your vehicle’s repairs after an accident you cause. Collision insurance is usually purchased with a full coverage policy, and it provides coverage based on the actual cash value (ACV) of your vehicle. 
  • Comprehensive insurance: Comprehensive insurance is sometimes called “other than collision” insurance. It pays for your vehicle’s repairs after a non-collision event, such as theft, vandalism, fire, flood damage and weather-related damage. Like collision insurance, it also provides coverage based on the ACV of your car. 
  • Gap insurance: If your car is leased or financed, having gap insurance can be beneficial. If your car is totaled, gap insurance pays the difference between your car’s diminished value and the remaining loan balance.  
  • Roadside assistance: Roadside assistance pays for basic roadside repairs, like flat tire changes, fuel delivery, a new car battery and towing up to a certain mileage. 
  • Accident forgiveness: Accident forgiveness waives your first minor accident, so it doesn’t affect your car insurance premium. However, some insurers will only sell you accident forgiveness after you have been claim-free for a certain number of years. 

Car insurance for 50-year-olds

Why shop for car insurance once you turn 50?

When you turn 50, it’s a good idea to shop around for car insurance, especially if your needs have changed. For example, you may be able to find a cheaper rate from a different carrier if you recently had a claim, moved states, or added or removed drivers from your policy (like kids or a spouse). 

If you have a perfectly clean claim history or an excellent credit score, for example, you might find that a different insurance company will reward you with a much lower rate than you’re currently paying. Plus, some car insurance companies will give you a discount simply for switching from a competitor.  

Before you purchase a new car insurance policy, consider your needs and take some time to compare providers. To simplify the process, you can fill out our short survey to find the best insurance carrier for 50-year-olds. We’ll match you with a few reputable providers in your area, then, you can get quotes to see which carrier is the cheapest for your situation. 

Car insurance FAQs for 50-year-olds

Will my car insurance rates go down as I get older?

Generally, car insurance rates can go down as you get older. This is because older drivers tend to have more experience on the road and are considered to be less risky to insure. As you age, you may also qualify for additional discounts or benefits from insurance companies. However, other factors such as your driving record, the type of car you drive, and where you live can also impact your rates. It’s important to regularly review your policy and shop around for the best rates to ensure you’re getting the best deal as you age.

Are there any benefits to bundling car insurance with other types of insurance?

Yes, there are benefits to bundling car insurance with other types of insurance. Bundling can often save you money by qualifying for a discount on your overall insurance premiums. It can also make managing your insurance policies easier, as you only have to deal with one insurance company for multiple policies.

How often should I review and update my car insurance policy?

It’s a good idea to review and update your car insurance policy at least once a year. But you should also make changes if you get a new car, move to a new place, need to add your child to your policy, or have any other major life changes. Checking your policy regularly can help make sure you have enough coverage and aren’t paying for things you don’t need. It’s always best to talk to your insurance provider for specific advice on updating your policy to fit your needs.

How do life changes such as marriage or homeownership affect my car insurance rates?

Life changes such as marriage or homeownership can often lower your car insurance rates. Insurance companies see married couples and homeowners as more responsible and less risky to insure, so they may offer you lower rates. You may also qualify for multi-vehicle and homeowners discounts and you could find further savings by bundling your home and auto policies. Be sure to notify your insurance company of any life changes so they can adjust your rates accordingly.

Are there any car insurance discounts or benefits available for long-term customers?

Yes, many car insurance companies offer discounts to customers who have been with them for a long time. These discounts can include lower rates, loyalty rewards, and special perks like accident forgiveness or roadside assistance. It’s a good idea to check with your insurance provider to see what discounts or benefits are available to you as a long-term customer. However, it’s still important to compare quotes from multiple insurance companies to be sure you’re still getting the best deal with your current provider.

How much does car insurance typically cost for a 50-year-old?

Car insurance for a 50-year-old can vary depending on factors like driving history, the type of car they have, and where they live. On average, a 50-year-old may pay between $100 and $200 a month, or $1,500 per year for car insurance. By shopping around and comparing quotes from different insurance companies, they may be able to find a policy that fits their needs and budget.

For 50 year olds, many insurance agents would recommend a full coverage policy, which includes enough coverage to satisfy your state’s minimum legal requirements as well as comprehensive and collision insurance to protect your own property. 50-year-olds who are homeowners or own multiple vehicles may benefit from bundling their insurance policies. Ultimately, the right coverage for you depends on your unique needs. It’s a good idea to talk to an insurance agent to determine the types and amount of coverage you need to be adequately protected.

Are there any specific discounts available for 50-year-old drivers?

Some car insurance companies offer discounts for 50-year-old drivers because they are seen as more experienced and less risky. These discounts can help save money on insurance premiums. To see if you qualify for any specific discounts, it’s best to contact your insurance provider and ask about available discounts for drivers over 50. Remember to provide accurate information and compare quotes from different companies to find the best deal.

Can I reduce my car insurance premiums by taking a defensive driving course at 50?

Yes, you may be able to reduce your car insurance premiums by taking a defensive driving course at 50. Insurance companies often offer discounts to drivers who complete these courses because they are designed to improve your driving skills and reduce the risk of accidents. By completing a defensive driving course, you may show your insurance provider that you are a responsible and safe driver, which could result in lower premiums. Be sure to check with your insurance provider to see if they offer a discount for taking a defensive driving course.

Are there any specific coverage options I should consider adding to my policy at 50?

As you get older, you may want to consider adding extra coverage options to your insurance policy. Some things to think about include increasing your liability limits, adding coverage for expensive belongings like jewelry or electronics, and getting umbrella insurance for extra protection. It’s a good idea to review your policy with an insurance agent to see what additional coverage options would be best for your specific needs at this stage in your life.

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Methodology

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. 

About Rate Retriever

At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results 

So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you. 

Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs.  

We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide.