Car insurance for 40-year-olds

Cheapest car insurance for 40-year-old drivers

We began our research by choosing the most popular carriers by market share — that is, those accessible to the largest number of consumers — and broke them down based on average annual premium for full coverage insurance, using premium data from Quadrant Information Services. On top of these low rates, these companies offer a number of discounts that could apply to drivers in their 40s. We also assessed their J.D. Power customer service scores and AM Best financial strength ratings.

Based on Bankrate’s research, major insurers like Auto-Owners and USAA made our list for offering cheap average rates to 40-year-olds.

Car insurance rates by state for 40-year-olds

Car insurance rates by gender

In most states, gender has only a small impact on the cost of car insurance, and in six states — California, Hawaii, Massachusetts, Michigan, North Carolina and Pennsylvania — insurers are prohibited from using gender as a rating factor. However, in other states, women tend to pay slightly less for car insurance than men, thanks to a reputation for safer driving.

How 40-year-old drivers can save on car insurance

Once you hit your 40s, you’ll likely find that your car insurance rates are a little lower than they were in your 20s and even your 30s. But the average cost of car insurance is still high for most drivers, even those with clean motor vehicle records — so it’s worth knowing a few different ways you may be able to save money on this key expense. 

• Bundle your car insurance with a homeowners or renters insurance policy.
• Choose a carrier that offers accident forgiveness to help prevent your premiums from increasing after your first at-fault accident.
• Sign up for a carrier’s usage-based telematics program that tracks and rewards you with a premium reduction if you drive safely — but read the fine print before you commit because some programs could raise your rates.
• Shop for the best rate by getting several car insurance quotes to compare rates and coverages.
• Increase your comprehensive and collision deductibles, if your budget allows you to pay more out of pocket in the event of an at-fault loss. It’s important to note that while this may be an effective strategy, it’s important to choose a deductible amount you can easily pay with no warning; otherwise, you could be setting yourself up for financial hardship in the event of an at-fault accident or comprehensive claim. 

One savings strategy you may want to avoid: reducing coverage without speaking to an agent. While some drivers may be carrying more auto insurance than they need, it’s also possible that you don’t have enough — or that dropping coverage could leave you exposed to significant financial risk. If you’re thinking about cutting your coverage in order to find cheap insurance, start by consulting a licensed agent or broker. 

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze February 2025 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2023 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

These are sample rates and should only be used for comparative purposes. 

Gender: The following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, North Carolina, Pennsylvania.

Our 2025 Bankrate Score for auto insurance considers key variables that our insurance editorial team determined impact policyholders’ experiences with an insurance company. These factors include a robust assessment of each company’s cost of coverage, product availability, financial strength ratings, online capabilities and customer and claims support accessibility. We grouped these factors into three essential categories — cost and ratings, coverage and savings, and support — which we then weighted in a tiered approach. 

Bankrate Scores

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto insurance companies satisfy these priorities, our team analyzed quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the National Association of Insurance Commissioners (NAIC). 
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated the discount options listed on each company’s website.
• Tier 3 (Support): To encompass the many ways an auto insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored in a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.