How Much Does Car Insurance Cost for Drivers Over Age 50 in Texas?

The type of vehicle needing coverage is one of the largest considerations that determines whether or not you can buy cheap car insurance for drivers over age 50 in Texas. Vehicles with average performance, a great safety record, or a positive history of liability claims will cost much less to insure than higher performance models. The data below features coverage premiums for a number of the most affordable vehicles to buy coverage for.

Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in specific Texas garaging location which can modify premium rates considerably.

By looking at the data, we can tell that makes and models like the Honda Accord, Hyundai Elantra, Honda CR-V, and Jeep Wrangler are going to be the most economical vehicles to insure for older drivers.

When shopping for the cheapest insurance for older drivers, one of the many considerations that is used to calculate the policy price is where you normally keep your vehicle in Texas. Densely populated urban areas like McAllen, Houston, and Laredo tend to have higher auto insurance costs, whereas cities that are not as densely populated profit from lower rates.

The next table lists the highest-priced areas in Texas for drivers over age 50 to buy an auto insurance policy in.

Premium amounts are estimated as the specific Texas residence address can raise or lower auto insurance rates considerably.

Safe drivers pay cheaper rates

The common sense way to maintain cheap car insurance for drivers over age 50 in Texas is to be an attentive driver and avoid at-fault accidents and violations. The diagram below shows how violations and at-fault claims can influence insurance prices for different insured age categories. The rate quotes are based on a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.

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In the previous example, the average cost of an auto insurance policy in Texas per year with no violations or accidents is $1,649. Factor in two speeding tickets and the average cost jumps to $2,202, an increase of $553 each year. Then add two accidents along with the two speeding tickets and the annual cost of car insurance for drivers over age 50 increases to an average of $4,414. That’s an increase of $2,765, or $230 per month, just for not driving attentively!

The illustration below demonstrates how deductible levels can raise or lower annual premium costs when searching for cheap insurance for drivers over age 50. The prices are based on a married male driver, full coverage, and no discounts are applied.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3229,2951,2641,2345],[‘Age 30’, 1697,1549,1375,1211],[‘Age 40’, 1629,1493,1335,1183],[‘Age 50’, 1489,1367,1225,1087],[‘Age 60’, 1463,1341,1201,1067],[‘Age 70’, 1679,1547,1399,1257]]);var options = {title: ‘Comparison of Deductible Levels and Auto Insurance Rates in Texas’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

The chart above illustrates that a 40-year-old driver could lower their policy premium by $264 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $402 by using a $1,000 deductible. Even younger insureds, such as the 20-year-old example, could potentially save $884 or more by choosing larger deductibles on their policy.

When insureds make the decision to increase the deductibles on their policy, it is a good idea to have enough spare savings to be able to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Cheapest car insurance: Allstate, Geico, State Farm, or Progressive

When it comes to buying car insurance for older drivers in Texas, four of the best places to start are Allstate, Geico, State Farm, and Progressive. Each one has slightly different coverage options that you can choose from. The next table rates pricing and service ratings, as well as optional policy coverages that you can purchase from each one.