Car Insurance for drivers over 50

Getting older definitely has its downsides, but there are a few perks as well. Paying less for car insurance can be one of them, as insurers recognize your experience on the road and driving history.

If you’re in your 50s and it’s been some time since you last reviewed your car insurance, it could be worth comparing other options on the market to see what’s out there.

Our top pick: The AARP Auto Insurance Program from The Hartford

Drivers over age 50 can enjoy low rates and perks designed for mature drivers, plus freebies and AARP member perks like free replacement cost coverage.

• Free replacement cost coverage
• Disappearing deductibles and lower deductibles for not-at-fault accidents
• Exclusive AARP member benefits that increase over time
• Perks like $2,500 for home services after an accident

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What discounts are available for drivers over 50?

No matter how old you are, it’s always worth considering each aspect of an insurance policy. Over 50s and retirees in particular might want to look for the following:

• Loyalty bonus. Look for policies where you can take your no-claims bonus and accident forgiveness with you when switching car insurance carriers.
• Mature driver savings. Many insurers will offer savings for safe drivers or drivers who take a defensive driving course.
• Limited use discounts. If you aren’t driving as much as you used to, there’s no reason to be paying as much as you were. Limited use or pay-as-you-drive policies can make an exceptional difference for those who don’t drive much.
• Pay monthly at no extra cost. Paying annual premiums in one large sum is often the most cost-effective choice. But for many retirees on a pension or fixed income it isn’t an option. You can specifically look for policies that let you pay premiums monthly, without paying more in total.

7 steps to pay less for your over-50 car insurance policy

With the increase in competition among car insurance brands, more and more providers are offering a wide range of discounts and bonus offers to keep existing customers and to get new ones.

1. Shop around after major life events. Review your policy after reaching a milestone to make sure you aren’t paying more than you need to. Check for cheaper insurance when you turn 55, trade in your car, see your kids off to college, move to a new house or any other significant change.
2. Look for discounts. You could save by paying premiums up front, being a homeowner, bundling cars and policies and more.
3. Sign up online. With comprehensive policies, you can get discounts — sometimes as much as 25% off — simply by signing up online instead of over the phone.
4. Restrict drivers. Many insurers will let you choose to restrict drivers. If you have teenage kids at home but they won’t be driving your car, make sure you specify this. If you don’t, then you might be paying more than you need to.
5. Set your deductible. Select a higher deductible for lower premiums, or choose a lower deductible for easier claims if you don’t mind higher premiums.
6. Qualify for your no-claims bonus. You can take this discount with you when switching to a new insurer, which means it’s worth growing over time. Comprehensive policies can help you grow this more easily, as they can include options for making no-fault or broken glass claims without losing your no-claims bonus.
7. Pass a safe driving course. Some insurers will reduce prices for good drivers that have passed an approved road safety course. Look for a safe driver or mature driver discount.

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What types of coverage are available for over-50 policies?

Almost everyone has the same coverage options. Picking the right policy involves finding that balance between cost and coverage to get the best value that still meets your needs.

Minimum coverage car insurance

Basic car insurance requirements differ by state, but you’ll typically need liability, personal injury protection and uninsured motorist coverage. New Hampshire and Virginia are the only two states without these requirements.

Turning 50 doesn’t exclude you from needing basic coverage, so you’ll still likely want to have:

Additional car insurance coverage

Mishaps on the road can be expensive — especially if you’re on a fixed income. The following optional coverages can help buffer those costs if you can afford the premium:

Driver’s license requirements for over 50

There are no special licensing requirements when you turn 50, and you can start accessing lower premiums by simply comparing quotes and switching car insurance as normal.

But be aware that for drivers who turn 70 or 75, special conditions may apply based on your license type and state.

Bottom line

Once you hit your 50s, you’ll often enjoy cheaper car insurance based on your driving experience. But you can always save on your car insurance at any age by comparing rates to find the best policy for you.

Common questions about over-50 car insurance

• Is insuring an RV the same as insuring a car?

  Not quite. Insuring an RV is typically categorized as a specialty insurance line, rather than auto insurance. Many auto insurance companies offer RV policies.

• Can I bundle my car and RV insurance?

  If your insurer offers both, you probably can. You may even be able to score a discount.

• Will retirement affect my car insurance rates?

  Employment on the whole doesn’t typically affect car insurance rates, and that includes retirement. But other factors, like how much you drive in your newly freed up time, will.

Learn more about car insurance for drivers over 50

• Cheap car insurance at any age
• Why mature drivers pay less for car insurance
• Seniors car insurance discounts