Car insurance for 50-year-olds

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

In most states, average car insurance rates decline as you age until you hit your 70s. In Hawaii and Massachusetts, insurance companies are not allowed to use age to deny a driver a new policy or as a car insurance rating factor (although Massachusetts carriers can use your years of driving experience).

The average annual cost of car insurance for a 50-year-old is $2,502 for full coverage, which is 7 percent less than the national average. For minimum coverage, 50-year-old drivers pay an average of $759 per year, according to Bankrate’s study of quoted annual premiums. Several factors influence your rates, including vehicle type, ZIP code (in most states), how many miles you drive and your coverage selections.

Best car insurance companies for 50-year-olds

We found that the best car insurance companies for 50-year-olds include USAA, Geico, State Farm, Erie and The Hartford. This list comes from extensive research using quoted annual premiums sourced from Quadrant Information Services and third-party rankings like the J.D. Power 2024 Auto Claims Satisfaction Study.

Other factors considered include financial strength, coverage options, available discounts and mobile and online accessibility. These metrics are considered when calculating each carrier’s Bankrate Score. Based on a five-point scale, the Bankrate Score may help auto insurance shoppers quickly compare companies during their search. Based on our research, 50-year-olds looking for the best car insurance may want to get a quote from these companies:

Cheapest car insurance for 50-year-old drivers

Along with other considerations like customer service and coverage options, price is a determining factor for many drivers when searching for auto insurance. To help narrow down your options, Bankrate has identified the cheapest car insurance providers for 50-year-old drivers based on our analysis of rates provided by Quadrant Information Services. Keep in mind that your costs will vary based on personal factors such as vehicle make and model, ZIP code, driving history and endorsements you may need.

According to our research, the following companies may be a good choice if you’re looking for the best cheap car insurance for 50-year-olds:

How 50-year-olds can save on car insurance

Cheap car insurance over 50 is already reasonably attainable based on the car insurance industry’s accident risk assessment of this age group, but why stop there? Whether you're shopping for a new policy or looking to save without switching carriers, here are some strategies that may help you save once you hit the half-century mark:

• Maintain a clean driving record: Avoiding moving violations and accidents may help you save on car insurance by avoiding surcharges and allowing you to access more incentives like safe driving discounts and accident forgiveness.
• Take advantage of discounts: Car insurance providers may offer several ways to save money on your car insurance premium, including discounts for maintaining loyalty, paying in full and having vehicle safety features. Depending on your profession and memberships to certain social organizations, 50-year-old drivers may find affiliation discounts especially appealing.
• Consider a telematics program: If you already practice safe driving habits, you may be able to earn more savings by taking part in a telematics program. These programs monitor your driving habits and may reward you for safe behaviors.
• Bundle multiple policies: Drivers may be able to save money when they bundle their car insurance with other policies, like home insurance. This may be a big savings opportunity for 50-year-old drivers with multiple products to insure.
• Insure multiple vehicles: If you own more than one vehicle, you may be able to save money by insuring them on the same policy. If you have a partner or children who reside in your household, adding their vehicles to your policy may earn your family a multi-line discount.
• Consider mileage-based policies: If you have a shorter commute, are retired or work from home, you may save with a policy based on miles driven.
• Increase your deductible: Your deductible is the amount for which you assume financial responsibility in the event of a claim. Increasing your deductible typically lowers your premium, but you will have to pay more out of pocket in the event of a covered incident. Most insurance professionals recommend approaching this strategy with caution as the price savings for a higher deductible may not outweigh the out-of-pocket costs if you file a claim.

Frequently asked questions

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. These are sample rates and should only be used for comparative purposes. Your quotes will differ.

Age: Rates were calculated by evaluating our base profile with the age 50 (base: 40 years) applied. Drivers are homeowners. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations.

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

Bankrate Score

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. 

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.