The words “low-priced” and “insurance” really should not be used together, specifically when you are looking for the best car insurance rates for drivers over age 50. Let’s go over a few of the factors that have an effect on insurance prices, and see if we can help you reduce the price of your next policy.
For older drivers, one of the more important components that determine the annual cost of car insurance is where you keep your car. Cities with larger populations or higher claim trends tend to have higher auto insurance costs, whereas areas with less crime or weather claims receive better rates.
The next table shows the highest-priced areas in Indiana for drivers over age 50 to purchase car insurance in. Indianapolis makes the list at #6 with the yearly price of $1,092 for the average policy, which is around $91 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Gary | $1,388 |
| 2 | Hammond | $1,275 |
| 3 | Merrillville | $1,139 |
| 4 | Portage | $1,104 |
| 5 | Lawrence | $1,099 |
| 6 | Indianapolis | $1,092 |
| 7 | Evansville | $1,045 |
| 8 | Terre Haute | $1,045 |
| 9 | Kokomo | $1,041 |
| 10 | New Albany | $1,039 |
| 11 | Jeffersonville | $1,038 |
| 12 | Anderson | $1,031 |
| 13 | Bloomington | $998 |
| 14 | Elkhart | $995 |
| 15 | South Bend | $985 |
| 16 | Fishers | $974 |
| 17 | Carmel | $957 |
| 18 | Columbus | $955 |
| 19 | Fort Wayne | $947 |
| 20 | Mishawaka | $945 |
| 21 | Richmond | $944 |
| 22 | Muncie | $937 |
| 23 | Greenwood | $931 |
| 24 | Noblesville | $930 |
| 25 | Lafayette | $890 |
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Information shown are approximated as specific location information can revise prices substantially.
The car, truck, or SUV you are insuring is probably the largest consideration that determines the availability of the best cheap insurance for drivers over age 50. Vehicles with high performance engines, a lack of advanced safety features, or a high likelihood of having liability claims will cost much more to insure than safer models. The next list ranks insurance costs for a selection of the cheapest vehicles to insure in Indiana.
| Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,104 |
| Ford Escape XLT 4WD | $1,110 |
| Toyota Prius | $1,193 |
| Chevrolet Impala LS | $1,252 |
| Honda Odyssey EX | $1,259 |
| Ford Edge Limited 2WD | $1,252 |
| Toyota Tacoma 2WD | $1,258 |
| Toyota RAV4 Limited 4WD | $1,278 |
| Chevrolet Equinox LS AWD | $1,288 |
| Jeep Grand Cherokee Laredo 4WD | $1,278 |
| Ford Explorer Eddie Bauer AWD | $1,302 |
| Chevrolet Malibu LT | $1,307 |
| Dodge Grand Caravan Crew | $1,302 |
| Ford Focus SEL 4-Dr Sedan | $1,318 |
| Jeep Wrangler Unlimited Sport 4WD 4-Dr | $1,321 |
| Ford F-350 XL Super Cab 2WD | $1,328 |
| Hyundai Elantra SE 4-Dr Sedan | $1,344 |
| Toyota Camry SE | $1,349 |
| GMC Sierra 2500HD SLE Extended Cab 4WD | $1,368 |
| Toyota Corolla XRS | $1,373 |
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Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Indiana minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Rates do not factor in zip code location which can decrease or increase coverage prices significantly.
Looking at the numbers, you can assume that vehicles like the Honda CR-V, Ford Escape, and Toyota Prius are going to be a few of the cheaper vehicles to insure for older drivers.
Trying to find reasonably-priced insurance is not most people’s favorite thing to do, and figuring out which company offers the cheapest car insurance rates for drivers over age 50 will involve a bit more work. Each insurance company uses slightly different criteria to set their prices, so first let’s look at the rankings for the car insurance companies that tend to be cheaper in Indiana.
It’s a good idea to know that Indianapolis, IN car insurance rates are calculated based on many things that control the price of coverage. Simply having a birthday, buying a different vehicle, or getting a few speeding tickets may prompt premium changes that can now make some companies cheaper in comparison to the competition.
Find the Cheapest Car Insurance for Age 50+
Travelers offers some of the cheapest car insurance rates in Indianapolis at around $614 a year. This is $626 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve also make the cut as some of the most economical Indianapolis, IN car insurance companies.
As shown above, if you are a customer of Cincinnati Insurance and switched to Travelers, you could see savings of approximately $44. Indiana drivers with USAA could save as much as $73 a year, and Erie insureds might reduce prices by as much as $119 a year.
To discover how much you can save, click here to begin a quote or feel free to get quotes from the companies below.
Bear in mind that those policy rates are averages across all drivers and vehicles in Indiana and and are not figured with a specific zip code for drivers over age 50. So the insurer that fits your age and vehicle best may not even be in the top 36 companies shown above. That is why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
Selecting a good quality car insurance company can be rather challenging considering how many companies are available to choose from in Indianapolis. The rank data listed below may help you decide which auto insurance companies to look at when comparing rates. The rankings below only include insurance companies that insure vehicles in the majority of U.S. states, so smaller companies that only insure vehicles in Indiana will not be included in the list.
Top 10 Major Auto Insurance Companies in Indianapolis Ranked by A.M. Best Rating
- USAA – A++
- GEICO – A++
- Travelers – A++
- State Farm – A++
- Allstate – A+
- Progressive – A+
- Erie Insurance – A+
- The Hartford – A+
- Nationwide – A+
- Esurance – A+
Top 10 Major Auto Insurance Companies in Indianapolis Ranked by Value
- USAA
- GEICO
- AAA Insurance
- Erie Insurance
- State Farm
- Liberty Mutual
- Safeco Insurance
- Allstate
- 21st Century
- Travelers
The chart below demonstrates how deductible levels can influence insurance costs when getting quotes for cheap insurance for drivers over age 50. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The data above shows that a 50-year-old driver could lower rates by $230 a year by increasing from a $100 deductible to a $500 deductible, or save $348 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old, could lower their rates as much as $756 or more just by choosing higher deductibles.
If you make the decision to raise deductibles, it will be important to have plenty of discretionary funds to be able to pay the extra out-of-pocket expense, which is the main drawback of higher deductibles.
The agents shown below are willing to aid you in deciding which coverage meets your needs best, since lots of drivers aren’t clear which coverage they need and would like to have a professional recommendation when comparing insurance rates for older drivers. It can be challenging to find the best coverage on your own, so getting professional guidance from a licensed agent can give satisfaction knowing you have suitable coverage if you ever need to use it.
To find an Indianapolis insurance agent by location nearest to you, click the link after the list or click here to compare prices now.
- Sarah Holtrup – State Farm Insurance Agent
1480 W Southport Rd c – Indianapolis, IN 46217 – (317) 888-5200 - A-1 Insurance Agency
2929 E 96th St Suite A. – Indianapolis, IN 46240 – (317) 844-3049 - A1 Insurance
4030 S Emerson Ave E – Indianapolis, IN 46203 – (317) 787-4995 - Dalessandro Agency Inc.
4255 Lafayette Rd – Indianapolis, IN 46254 – (317) 290-2055 - Brandon Libunao – State Farm Insurance Agent
1014 Prospect St – Indianapolis, IN 46203 – (317) 783-3391
Find an Indianapolis, IN insurance agent near you
How to find budget-friendly car insurance for drivers over age 50
It’s not impossible to find cheaper rates, and here are many penny-pinching ideas that can help Indiana drivers find cheap coverage.
- Do not get traffic citations
- Staying accident-free helps keep rates low
- Older vehicles may not need full coverage
- Try to not file small claims
- Raise your deductibles
- Compare rates and switch if you can find a better deal
That last idea is especially valuable, as was discussed in the article above. Car insurance prices vary greatly, so don’t be hesitant to buy a different policy if a cheaper price is available.
Being loyal to a particular company is commendable, but it’s not a great idea if that loyalty ends up costing money that could be used for better things. In just a couple of minutes you could compare rates and find cheaper car insurance for drivers over age 50 in Indianapolis.