How much is car insurance for 55-year-old drivers?
55-year-old male drivers pay $1,747 per year for coverage, while female drivers of the same age pay $1,728 per year. Location and driving record also play a major role in determining insurance rates. Younger drivers face higher car insurance costs because they lack driving experience, but rates go down as they gain driving experience and grow older.
While age plays a major role in determining car insurance rates, most states also consider gender. Men usually pay higher rates than women because statistics show they take more risks and experience more injuries.
If you live in California, Hawaii, Massachusetts, Michigan, North Carolina, or Pennsylvania, car insurance companies cannot use gender to determine rates.
| Gender | Average annual premium | Average monthly premium |
|---|---|---|
| Male | $1,747 | $146 |
| Female | $1,728 | $144 |
Average car insurance for 55-year-old drivers by company
Nationwide provides the lowest annual premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. for a 55-year-old driver at $1,380. The insurance company you pick has a significant impact on overall costs.
For 55-year-olds, the most affordable options are:
- Male drivers: Nationwide with an annual rate of $1,391
- Female drivers: Nationwide with yearly costs of $1,369
| Company | Average premium | Annual premium for male | Annual 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 reviewed leading car insurance providers to identify the best policies for 55-year-old drivers.
Our findings show:
- Travelers ranks first, offering average yearly premiums of $1,441.
- Erie Insurance stands out as the second-strongest option.
| Company name | AM Best | NAIC | Survey score | Average annual premium | Insurance.com score |
|---|---|---|---|---|---|
| Travelers | A++ | 0.52 | 4.41 | $1,441 | 4.64 |
| Erie Insurance | A+ | 0.89 | 4.47 | $1,326 | 4.62 |
| Auto-Owners | A+ | 0.54 | 4.42 | $1,423 | 4.58 |
| Nationwide | A | 0.63 | 4.52 | $1,380 | 4.55 |
| GEICO | A++ | 0.69 | 4.43 | $1,670 | 4.44 |
| State Farm | A++ | 0.79 | 4.52 | $1,838 | 4.33 |
| Progressive | A+ | 0.71 | 4.4 | $1,793 | 4.24 |
| American Family | A | 0.34 | 3.99 | $1,607 | 4.2 |
| Amica | A+ | 0.75 | 4.68 | $2,083 | 4.12 |
| Farmers | A | 0.86 | 4.41 | $2,152 | 3.85 |
| Allstate | A+ | 1.1 | 4.36 | $2,314 | 3.75 |
| USAA | A++ | 1.18 | 4.71 | $1,274 | 4.76 |
Average car insurance for 55-year-olds by state
States require different levels of car insurance, which affects the cost of coverage. As a result, 55-year-old rates can vary significantly by location.
For 55-year-old male drivers:
- Maine is the cheapest state, offering coverage at $1,129 annually.
- Louisiana is the most expensive state, where rates average $2,570 per year.
For 55-year-old female drivers:
- Maine offers the cheapest rates at an average of $1,103 a year.
- Louisiana is the most expensive at $2,581 per year.
Take a look at the table below to see the average car insurance rates for 55-year-olds in your state.
| State | Average annual male premium | Average 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
Car insurance premiums typically decrease with age and driving experience. For instance, a 25-year-old generally pays far less than a 16-year-old.
The table below shows average rates by age group, making it easy to compare costs for 55-year-olds with drivers of other ages.
| Company Group | Teens (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 |
Methodology
Rates are fielded in partnership with Quadrant Information Services across all 50 states and Washington, D.C.
Unless otherwise indicated, averages are based on our full coverage data set. This data set is based on:
- Bodily injury liability of $100,000 per person and $300,000 per incident
- Property damage liability of $100,000 per incident
- Comprehensive and collision deductibles of $500
- Honda Accord LX
- Good credit
- A clean driving record
- 12-mile commute, 10,000 annual mileage
Data is further filtered to reflect:
- Specific driver age
- Rates for a driver added as a third driver on an existing policy with two parents
Learn more about our data and methodology.
Auto insurance FAQs
What car insurance discounts are there for 55-year-olds?
55-year-old drivers can qualify for many car insurance discounts, including good driver, claims-free, paperless billing, bundling and usage-based discounts.
Why does age affect car insurance rates?
Age relates to experience because most drivers get their licenses in their teens. It also relates to responsible behavior because older drivers usually take fewer risks.
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