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1. PEMCO Insurance
PEMCO is the cheapest car insurance provider for the average driver over 50 with rates around just $860 a year. A Northwest based insurance company, drivers in this region can enjoy the company’s low premiums. PEMCO has been in business since 1949 and now provides insurance policies for homes, cars, boats, and more.
2. Alliance Insurance
Coming in second place for cheapest comprehensive coverage for mature drivers is Alliance Insurance Group. With rates around $875 annually, it’s an extremely affordable company for this age group. The company of Alliance itself has over $70 million in premiums and upholds high standard of service for large corporations and individuals.
3. Frankenmuth Mutual
Separated by just $0.31, Frankenmuth Mutual is a close third for cheapest auto insurance premiums for mature drivers. With average annual rates for this age group just around $876, insurance coverages with Frankenmuth are a great value.
4. Erie Insurance
Erie auto insurance has some of the cheapest auto insurance rates for drivers over 50. It’s also known as a stand-out company for its insurance shopping experience having won first place out of all other insurance companies, based on JD Power scores. Erie only covers drivers in 12 states and Washington D.C. currently, but if you live in the following areas, you can call for a policy and save big time: Illinois, Indiana, Kentucky, Maryland, Washington D.C., New York, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and Wisconsin.
Read more about Erie Insurance–it’s average premiums per driver type, customer reviews, and market share on its profile page.
4. Allied Insurance
Allied Insurance is fifth in line as a cheap car insurance provider for drivers over 50. With rates hovering around $915 annually, this age group can still find a pretty inexpensive auto policy from this company. To make it seem even cheaper, that’s just around $76 a month for auto coverage.
Allied offers many a la carte coverage options for auto insurance policies so you can really customize your coverage. The company is also part of a Fortune 500 company. So you can count on a strong financial backing to support your insurance policies.
Cheapest 25 Insurance Companies for Drivers 50 and Over
| Average Annual | |
|---|---|
| PEMCO | $860.27 |
| Alliance Insurance | $876.38 |
| Frankenmuth Mutual | $876.69 |
| Erie | $897.58 |
| Allied | $918.89 |
| USAA | $1,016.99 |
| Travelers | $1,024.36 |
| Plymouth Rock | $1,084.59 |
| Safeco | $1,181.95 |
| CSAA | $1,223.34 |
| State Farm | $1,257.44 |
| The Hartford | $1,428.69 |
| Chubb | $1,439.70 |
| The Hanover Insurance Group | $1,451.26 |
| Progressive | $1,532.94 |
| The General | $1,545.71 |
| Titan | $1,649.77 |
| Nationwide | $1,687.64 |
| Mercury | $1,692.28 |
| Allstate | $1,702.20 |
| MetLife | $1,742.02 |
| AAA | $1,932.71 |
| Liberty Mutual | $1,958.09 |
| Dairyland | $1,985.60 |
| Esurance | $2,062.63 |
Where Can You Find The Best Rates with An Insurance Agent?
If you’re shopping for auto insurance, you can run quotes online in minutes. Many sites have made the process more intuitive. So you just have to answer a few easy questions to get a quote. Some people still prefer talking to an agent who can review your case and make sure you get all applicable auto insurance discounts.
Whatever you’re looking for, make sure to get a few different quotes for comparison. Then choose the insurance policy that makes sense for your needs.
Our Methodology:
We started with averages from 166 companies across the country. We took out brands that were only provided regional coverage options. For example, IMT’s average rates for drivers over 50 is $341.80–but it only serves six states. We recommend finding your state in our cheapest insurance by location resource pages.