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

GEICO offers the lowest rates for 50-year-olds, averaging $124 per month and $1,487 per year.

At what age is car insurance most expensive?

Car insurance is typically most expensive for teenagers and young drivers under 25 due to their higher risk of accidents.

Does insurance go down when you turn 50?

Insurance rates don't automatically decrease when you turn 50. Instead, drivers can see a yearly decline in rates if they maintain a clean driving record and other factors remain constant. Drivers in their 50s often enjoy lower rates due to their experience and potentially stable driving records, but rates pick up each year after 65.

Average Cost of Car Insurance for 50-Year-Olds

Name: Average Cost of Car Insurance for 50-Year-Olds
Item: Average Cost of Car Insurance for 50-Year-Olds
Author: Mandy Sleight

On average, a 50-year-old spends $1,768 per year on auto insurance. GEICO is the cheapest option at $1,487 per year. However, actual rates may differ depending on your circumstances.

ByMandy Sleight

Edited byJlyne Ubina

ByMandy Sleight

Edited byJlyne Ubina

Updated: April 15, 2024

Advertising & Editorial Disclosure

About Mandy Sleight

Mandy Sleight is a writer for MoneyGeek and has been an insurance agent since 2005. As a freelance writer, she uses her vast knowledge of the insurance industry to create informative, engaging and easy-to-understand content for consumers. Her work has been featured in Market Watch, Kiplinger and other major publications.

sources

AAA Foundation for Traffic Safety. "Rates of Motor Vehicle Crashes, Injuries and Deaths in Relation to Driver Age, United States, 2014-2015." Accessed January 18, 2021.
GEICO. "Car Insurance Discounts." Accessed January 18, 2021.