Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insuran...

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Chris Harrigan has an economic degree from Limestone College and an MBA from Clemson University. He previously managed auto insurance claims for Enterprise Rent-A-Car. Currently, he is using his business and insurance expertise to provide insurance data analysis and visualizations to enhance the user experience.

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Reviewed by Chris Harrigan
Former Auto Insurance Claims Manager Chris Harrigan

UPDATED: Nov 3, 2020

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Key takeaways...

  • If you’re over the age of 50, you should compare insurance rates for drivers in your demographic
  • If you’re retired or nearing retirement, you may start to see your rates climb because of your age
  • Some carriers target experienced drivers by offering customers in an older age bracket better rates
  • You can get discounts for three years if you take a Mature Driver Course that’s approved by your insurer
  • As you age, you may start to qualify for more discounts by limiting your miles and your vehicle usage

Not only do you get wiser with age and experience, you also become a better driver.

When you’re first licensed, you pay a significant amount of money for an insignificant amount of coverage. Even though your premiums were high, you had to find a way to cover the expense if you wanted to legally drive. Fortunately, those days are over.

If you’re 50 or older, you’ll never have to worry about being charged the rates that inexperienced drivers do.

In fact, for many years, aging will work to your advantage because you’ll get more experience behind the wheel. The more that you prove that you’re a good driver, the better your rates will be.

Unfortunately, there will come a time where your rates will begin to climb again after your 50th birthday. Here’s a guide to help you choose the right insurance.

if you want to go ahead and start comparing auto insurance rates, try our FREE online quote tool! Enter your ZIP code above to begin!

Why is age so important?


Everyone matures at their own pace. Some individuals take longer to develop their skills quickly, and others are a bit slower at learning from life experiences.

It doesn’t matter which category that you fall into because insurance companies consider how age affects your probability of filing a claim by looking at statistics.

So many different factors influence how often drivers file claims. Where you live, what you drive, and how often you drive are all considered.

These factors can change based on your lifestyle, but one factor that’s out of your control is your age. To insurance companies, how old you are will dictate how much time you’ve had to become a skilled driver.

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What does data say about age and driving?

No one is really surprised to learn that teen drivers who have just recently been licensed have the most accidents. Their inexperience coupled with the fact that teens act on impulse, make them significant risks when they are driving without supervision.

Drivers who are under 19 will pay the highest rates.

Over the years, you’ll earn discounts and gain experience that will help reduce your rate. Turning 25 is a big milestone, but you’ll still get more credits even after that age.

While every company has a different rate set in place, the sweet spot for age falls between 55 and 59 for both women and men. From 60 on, rates through the standard insurer will start to climb again.

Why is it so important for consumers over 50 to shop around for insurance?


You shouldn’t be penalized by your insurer for aging when you have a clear record and a good insurance history. Unfortunately, all insurers have a specified age where everyone’s rates will go up and it’s unavoidable.

The only way that you can postpone the increase in your rates for as long as possible is to shop around.

When you’ve been loyal to your current agent for years or decades, the thought of switching to a new carrier feels like a betrayal. What many don’t know is that staying loyal to a carrier can cost you if you’re not shopping around.

When you shop around, you can identify which companies are priced rate for drivers in your risk group. Not all companies want to do business with young drivers and the same goes for drivers over 50.

Since the company can’t discriminate, they will use a pricing tactic so that people in undesirable age groups will steer clear of the company’s products.

Should drivers over 50 take a driving class?

If you just turned 50, you don’t need to take a driving class just yet. As soon as you turn 55, you can look around for different classes that you can enroll in to qualify for insurance discounts.

Most states require licensed insurers to offer senior drivers discounts and one of these discounts is offered for taking defensive driving classes.

You can’t take any type of driving class or traffic school and get a discount. In order to be eligible, you’ll have to take a class through a provider that’s approved by your insurer.

AAA, AARP, and other driving associations have quality classes that cost as little as $20. Once you complete the course, show your certificate and you’ll get a discount for the next three years.

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Do seniors who drive less get lower rates?

In your 20s or your 30s, you drive as much as you need to have a steady balance between work and play. As you age, you appreciate spending more time at home and less time in your car.

When you drive less, you wind up paying less for your coverage. Changes in usage can affect your driving habits ratings and mileage ratings.

Usage doesn’t automatically go down when you turn 50. A lot of factors will play a role in how your usage will change over the years.

If you have extra cars in your home, you start to reduce your hours in the office, or you retire, your usage is going to go down. Just be sure to update your policy to pleasure usage as soon as you’re not commuting on your cars.

When will you qualify for a low-mileage discount?


Driving strictly for pleasure is bound to reduce how much you drive throughout the year.

When you cut out just a 10-mile commute five days out of the week, it reduces your mileage by approximately 2,600 miles per year.

It could be the difference between being an average mileage band and a low-mileage rating band.

How do you update your mileage estimates?

Since your annual mileage is taken into consideration, updating your estimated mileage for the upcoming term can translate into savings in your current term. You’ll have to update your rating information for your rate to be modified and the low-mileage discount to be applied.

Not all companies are going to just take your word for it. It might sound odd that you’ll have to prove that you’re going to drive less, but the insurer just needs some documentation.

The insurer might ask you to give an oil change receipt or an official document with an odometer reading and the date so that the carrier can later verify that you’ve driven less.

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Are you a daytime driver?


Only seniors are eligible for daytime driver discounts. Since many elderly drivers have issues seeing at night, driving in the dark can pose a major risk.

To try and encourage seniors to drive in the safer daylight hours, some carriers will offer a daytime driver discount.

The only drawback to opting in to receive the daytime driver discount is that the carrier could deny a claim if it happens at nighttime.

There are usually exceptions if there is an emergency. You should check with your agent to see if the discount is available and how it works.

Should you buy a different car?

Your car could be the reason behind your huge rate hikes. You don’t want to be an elderly driver who’s paying rates to drive a high-risk sports car with a turbo-charged engine.

Cars that have a high rate of accidents also carry high premiums.

It’s in your interest to go to the lot, trade in your car, and find a safer model with safety features that help prevent accidents.

You should also consider how a car performs in crash tests and how it’s been graded by associations like the Insurance Institute for Highway Safety.

You’ve been a budget-minded consumer for years, but that doesn’t mean that you’re paying the lowest insurance rate that you could be. Before you make any purchasing decisions when you’re over 50, you should shop around.

You may have extra time now, but you don’t want to spend it comparing rates. Use an online quoting tool and compare prices fast.

Try our FREE online quote tool and start comparing auto insurance rates. Enter your ZIP code below to begin.