The words “affordable” and “insurance” probably shouldn’t be used together, especially when you are shopping around for the lowest insurance prices for drivers over age 50. Let’s lead off by showing you a few of the things that significantly impact insurance prices, and see if you can lower the cost of your next policy.
The make and model of vehicle you are seeking coverage for is probably the largest consideration that determines if you can find the cheapest car insurance for drivers over age 50. Vehicles with economical engines, an excellent safety record, or a track record of few liability claims will cost significantly less to insure than fast, unsafe models. The next list outlines auto insurance premiums for the cheaper automobiles to insure in Nevada.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Ford Escape XLS 2WD | $2,587 |
| Honda CR-V EX 4WD | $2,645 |
| Volkswagen Jetta S 2.5 Station Wagon | $2,812 |
| Toyota Prius | $2,870 |
| Ford Explorer Eddie Bauer 2WD | $2,902 |
| Honda Odyssey EX W/Rear Entertainment | $3,011 |
| Ford Focus S 4-Dr Sedan | $3,018 |
| Chevrolet Malibu Hybrid | $3,069 |
| Nissan Altima 2.5 4-Dr Sedan | $3,079 |
| Toyota RAV4 Sport 2WD | $3,069 |
| Jeep Wrangler Unlimited Sport 2WD 4-Dr | $3,098 |
| Toyota Tacoma Double Cab TRD Sport Package 4WD | $3,127 |
| Dodge Grand Caravan Crew | $3,133 |
| Honda Civic LX-S 4-Dr Sedan | $3,174 |
| Hyundai Elantra SE 4-Dr Sedan | $3,232 |
| Ford Edge Sport 2WD | $3,237 |
| Toyota Corolla LE | $3,232 |
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Nevada minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Rate information does not factor in vehicle garaging location which can affect prices substantially.
By looking at the data, we can tell that models like the Ford Escape, Honda CR-V, and Volkswagen Jetta are most likely going to be some of the more affordable vehicles to insure for older drivers.
For older drivers, one of the largest criteria that are looked at to determine the annual cost of car insurance is where you live in Las Vegas. Regions with more people or even just more weather-related claims tend to pay more, whereas areas with fewer weather claims and lower vehicle theft rates have the enjoyment of a little cheaper coverage.
The next table shows the priciest cities in Nevada for drivers over age 50 to purchase car insurance in. Las Vegas ranks #5 with the annual price of $1,930 for car insurance, which is around $161 monthly.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Winchester | $2,094 |
| 2 | Sunrise Manor | $2,090 |
| 3 | Spring Valley | $2,060 |
| 4 | Paradise | $2,041 |
| 5 | Las Vegas | $1,930 |
| 6 | Enterprise | $1,927 |
| 7 | North Las Vegas | $1,900 |
| 8 | Henderson | $1,715 |
| 9 | Boulder City | $1,557 |
| 10 | Pahrump | $1,377 |
| 11 | Mesquite | $1,365 |
| 12 | Spanish Springs | $1,266 |
| 13 | Sparks | $1,265 |
| 14 | Reno | $1,256 |
| 15 | Sun Valley | $1,253 |
| 16 | Fernley | $1,149 |
| 17 | Gardnerville Ranchos | $1,138 |
| 18 | Elko | $1,125 |
| 19 | Carson City | $1,124 |
| 20 | Dayton | $1,097 |
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Premium amounts are estimated as zip code location can increase or decrease rates considerably.
Shopping around for cheap insurance is tough enough, and determining which companies quote the cheapest auto insurance rates for drivers over age 50 requires a little more work.
Each auto insurance company has their own unique process for establishing rates, so to begin we’ll rank the auto insurance companies with the most affordable rates in Las Vegas, NV. It’s important that you understand Las Vegas auto insurance rates are influenced by many factors that will increase or decrease the cost of a policy. Turning one year older, buying a home, or getting a ticket for running a stop sign may prompt premium changes that may make certain companies more affordable than before.
Best Auto Insurance Prices for Age 50+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $939 |
| 2 | Allied | $949 |
| 3 | Capital | $978 |
| 4 | Oregon Mutual | $1,193 |
| 5 | Progressive | $1,226 |
| 6 | American Family | $1,230 |
| 7 | GEICO | $1,269 |
| 8 | Nationwide | $1,282 |
| 9 | USAA | $1,297 |
| 10 | Safeco | $1,346 |
| 11 | Farmers | $1,452 |
| 12 | MetLife | $1,615 |
| 13 | Country | $1,619 |
| 14 | State Farm | $1,681 |
| 15 | Mercury | $1,771 |
| 16 | Victoria | $2,031 |
| 17 | Liberty Mutual | $2,227 |
| 18 | Bristol West | $2,407 |
| 19 | Allstate | $2,408 |
| 20 | Encompass | $2,604 |
| Get a Custom Quote Go | ||
Travelers normally has some of the most affordable car insurance rates in Las Vegas at around $939 per year. This is $635 less than the average price paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and Progressive also qualify as some of the more affordable Las Vegas, NV insurance companies.
As depicted above, if you currently have coverage with Progressive and switched to Allied, you may realize a yearly savings of around $277. Insureds with American Family may save as much as $281 a year, and GEICO policyholders might reduce rates by $320 a year.
To find out how your current rates compare, click here or click through to the companies below.
Bear in mind that those premium estimates are averaged for all insureds and vehicles and do not factor in an exact location for drivers over age 50. So the auto insurance company that has the lowest price for you may not even be in the top 20 companies in the list above. That helps illustrate why you need to compare rates from as many companies as possible using your own individual information.
The information below highlights how deductible choice can influence insurance premiums when researching cheap insurance for drivers over age 50. The premiums are based on a married male driver, full physical damage coverage, and no other discounts are factored in.
A 50-year-old driver could lower their car insurance rates by $214 a year by increasing from a $100 deductible up to a $500 deductible, or save $324 by choosing a $1,000 deductible. Youthful drivers, like the age 20 example, could possibly save $714 or even more by using higher deductibles when buying full coverage. If you do make the decision to raise your deductibles, it is a good idea to have enough spare savings to be able to cover the extra out-of-pocket expense, which deters some drivers from choosing higher deductibles.
Get discount Las Vegas car insurance
Insurance companies that provide policies for drivers over age 50 may also provide policy discounts that could lower prices by as much as 35% or more if you are eligible to receive them. The best auto insurance companies and their possible discounts can be read below.
- The Hartford discounts include anti-theft, good student, air bag, bundle, defensive driver, and vehicle fuel type.
- American Family may offer discounts for multi-vehicle, defensive driver, mySafetyValet, Steer into Savings, and early bird.
- Progressive offers discounts including multi-policy, good student, online quote discount, continuous coverage, and online signing.
- Travelers includes discounts for new car, driver training, continuous insurance, payment discounts, and hybrid/electric vehicle.
- Farmers Insurance offers premium reductions for pay in full, bundle discounts, youthful driver, mature driver, and alternative fuel.
- USAA has savings for vehicle storage, defensive driver, multi-vehicle, family discount, loyalty savings, and safe driver.
- Liberty Mutual offers discounts for safety features, new vehicle discount, new graduate, good student, new move discount, and newly retired.
The diagram below shows the difference between annual premium costs with and without discounts applied to the policy premium. The data assumes a male driver, no claims or violations, Nevada state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows the price with no discounts. The second shows the rates with vehicle safety, marriage, anti-theft, multiple vehicle, defensive driving course, and claim-free discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on auto insurance for drivers over age 50 is 29% or $572.
Cost comparison with and without full coverage
Reducing the cost of auto insurance is probably important to most vehicle owners, and a great way to reduce the cost of insurance for drivers over age 50 is to not insure for full coverage. The illustration below illustrates the comparison of annual premium costs with liability coverage only compared to full coverage. The data assumes no violations or accidents, $500 deductibles, drivers are single, and no additional discounts are factored in.
Averaged for all ages 20 through 70, physical damage coverage costs $1,455 per year more than just buying liability only. Many of you may wonder if you should buy full coverage. There is no specific rule of when to stop paying for full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.