How much is car insurance for 55-year-old drivers?

Younger drivers pay more for car insurance due to a lack of experience behind the wheel, and then rates go down with age and experience. On average, female 55-year-olds pay $1,728 a year for coverage. Male 55-year-olds pay an average of $1,747. However, factors such as location, driving record, and gender also significantly impact rates.

While age is a significant factor in determining car insurance rates, gender is also considered in most states. Males typically face higher insurance rates than females, largely due to a statistically proven tendency to take more risks and sustain more injuries.

If you live in California, Hawaii, Massachusetts, Michigan, North Carolina, or Pennsylvania, car insurance companies can't use gender to determine rates.

GenderAverage annual premiumAverage monthly premium
Male$1,747$146
Female$1,728$144

Average car insurance for 55-year-old drivers by company

Nationwide has the cheapest rates for 55-year-olds at an average of $1,380 a year, and Travelers is second at $1,441 a year.

While one insurance company may consider age the determining rate factor, another may consider driving records more critical. By comparing coverage and rates from multiple companies, you can find the best deal for 55-year-olds, helping to reduce your insurance costs.

The table below compares average car insurance rates for 55-year-olds by company.

CompanyAverage premiumAnnual premium for maleAnnual premium for female
Nationwide$1,380$1,391$1,369
Travelers$1,441$1,462$1,419
GEICO$1,670$1,658$1,682
Progressive$1,793$1,801$1,786
State Farm$1,838$1,838$1,838
Farmers$2,152$2,187$2,115
Allstate$2,314$2,326$2,302
USAA$1,274$1,284$1,264

Best car insurance for 55-year-old driver

We've compared top insurance companies to see which offers the best coverage for 55-year-old drivers. Our analysis shows that Travelers is the top pick overall with average rates of $1,441. Erie Insurance is our second pick.

Company nameAM BestNAICSurvey scoreAverage annual premiumInsurance.com score
TravelersA++0.524.41$1,4414.64
Erie InsuranceA+0.894.47$1,3264.62
Auto-OwnersA+0.544.42$1,4234.58
NationwideA0.634.52$1,3804.55
GEICOA++0.694.43$1,6704.44
State FarmA++0.794.52$1,8384.33
ProgressiveA+0.714.4$1,7934.24
American FamilyA0.343.99$1,6074.2
AmicaA+0.754.68$2,0834.12
FarmersA0.864.41$2,1523.85
AllstateA+1.14.36$2,3143.75
USAAA++1.184.71$1,2744.76

Average car insurance for 55-year-olds by state

States require different amounts of car insurance, which influences the cost of coverage. Because of this, 55-year-old rates can vary widely by location. Maine is the cheapest state of for male drivers at $1,129 a year. The most expensive state is Louisiana at $2,570 a year.

For female 55-year-old drivers Maine is the cheapest state at an average rate of $1,103 annually. Louisiana is the most expensive for females at $2,581 a year.

Check out the table below to see average car insurance rates for 55-year-olds in your state.

StateAverage annual male premiumAverage annual female premium
Alaska$1,521$1,505
Alabama$1,693$1,680
Arkansas$1,744$1,749
Arizona$1,645$1,642
California$2,313$2,314
Colorado$2,213$2,188
Connecticut$1,585$1,593
Washington, D.C.$2,015$1,991
Delaware$1,904$1,942
Florida$2,485$2,475
Georgia$1,827$1,805
Hawaii$1,517$1,517
Iowa$1,449$1,442
Idaho$1,295$1,255
Illinois$1,397$1,382
Indiana$1,353$1,343
Kansas$1,667$1,660
Kentucky$2,041$2,011
Louisiana$2,570$2,581
Massachusetts$1,614$1,614
Maryland$1,601$1,560
Maine$1,129$1,103
Michigan$2,105$2,105
Minnesota$1,681$1,680
Missouri$1,818$1,798
Mississippi$1,848$1,803
Montana$1,969$1,965
North Carolina$1,649$1,650
North Dakota$1,609$1,589
Nebraska$1,700$1,692
New Hampshire$1,186$1,161
New Jersey$1,767$1,740
New Mexico$1,892$1,896
Nevada$1,880$1,931
New York$1,759$1,729
Ohio$1,293$1,275
Oklahoma$1,964$1,930
Oregon$1,516$1,537
Pennsylvania$1,719$1,719
Rhode Island$1,904$1,883
South Carolina$1,855$1,833
South Dakota$2,053$2,008
Tennessee$1,522$1,475
Texas$1,958$1,849
Utah$1,648$1,677
Virginia$1,322$1,316
Vermont$1,173$1,156
Washington$1,494$1,506
Wisconsin$1,508$1,499
West Virginia$1,827$1,810
Wyoming$1,623$1,573

Average car insurance cost vs. teens

As you age and gain more driving experience, car insurance rates decrease. For example, rates for a 25-year-old are significantly cheaper than at 16 years old.

The table below shows average car insurance rates for various age groups, so you can see how rates for 55-year-olds compare to drivers at other ages.

Company GroupTeens (16-19)Young Adults (20-24)Adults (25-60)Seniors (65-75)
Allstate$7,437$3,754$2,509$2,477
Farmers$8,348$3,602$2,336$2,290
GEICO$5,049$2,647$1,776$1,787
Nationwide$5,285$2,556$1,533$1,456
Progressive$7,174$3,242$2,009$2,000
State Farm$5,368$3,179$1,985$1,858
Travelers$4,834$2,476$1,615$1,590
USAA$4,385$2,159$1,406$1,400