One of the more important considerations that are looked at to help calculate the price you pay for insurance is your zip code. More populated areas likely pay more, whereas less populated areas have the luxury of cheap car insurance rates.
The next table shows the priciest cities in Arizona for drivers over age 50 to purchase a policy in. Phoenix is ranked #1 with the annual price of $1,218 for coverage, which is around $102 per month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Phoenix | $1,218 |
| 2 | Glendale | $1,190 |
| 3 | Avondale | $1,174 |
| 4 | Tempe | $1,152 |
| 5 | San Tan Valley | $1,150 |
| 6 | Gilbert | $1,142 |
| 7 | Scottsdale | $1,129 |
| 8 | Peoria | $1,126 |
| 9 | Mesa | $1,125 |
| 10 | Buckeye | $1,122 |
| 11 | Maricopa | $1,107 |
| 12 | Goodyear | $1,098 |
| 13 | Casas Adobes | $1,082 |
| 14 | Chandler | $1,082 |
| 15 | Surprise | $1,080 |
| 16 | Catalina Foothills | $1,072 |
| 17 | Oro Valley | $1,062 |
| 18 | Tucson | $1,061 |
| 19 | Casa Grande | $1,057 |
| 20 | Yuma | $963 |
| Compare Prices Now Go | ||
Premium amounts are comparative as vehicle location can influence premiums significantly.
Establishing which companies quote the best auto insurance rates for drivers over age 50 calls for a bit more effort than just comparing a company or two. Every auto insurer uses different criteria for determining rates in each state, so we’ll take a look at the most competitive auto insurance companies in Phoenix.
Find Cheaper Auto Insurance for Age 50+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $836 |
| 2 | Auto-Owners | $888 |
| 3 | Safeco | $905 |
| 4 | Travelers | $1,075 |
| 5 | USAA | $1,113 |
| 6 | Progressive | $1,118 |
| 7 | GEICO | $1,131 |
| 8 | Ameriprise Group | $1,184 |
| 9 | Allied | $1,209 |
| 10 | CSAA | $1,213 |
| 11 | Safe Auto | $1,284 |
| 12 | Farm Bureau Mutual | $1,285 |
| 13 | Unitrin | $1,317 |
| 14 | State Farm | $1,377 |
| 15 | Farmers | $1,378 |
| 16 | American Family | $1,420 |
| 17 | Titan | $1,433 |
| 18 | Amica | $1,487 |
| 19 | MetLife | $1,521 |
| 20 | California Casualty | $1,522 |
| Quote Your Rates Go | ||
The Hartford generally has some of the best car insurance rates in Phoenix at around $836 annually. This is $592 less than the average premium paid by Arizona drivers of $1,428. Auto-Owners, Safeco, Travelers, and USAA would also make the list of some of the lowest-priced Phoenix, AZ insurance companies.
In the rate table above, if you have coverage with Travelers and switched to Auto-Owners, you might realize savings of around $187. Arizona drivers with USAA could save as much as $225 a year, and Progressive policyholders might see rate reductions of $230 a year.
It’s important to note that these estimates are averages across all types of drivers and the different vehicles they drive and and are not calculated with an exact vehicle garaging location for drivers over age 50. So the auto insurance company that can offer you the best rate may not even be in the top 28 companies in the list above. That helps illustrate why you need to quote rates from as many companies as possible using your own specific driver information and vehicle.
Does full coverage make sense?
Saving money when shopping for auto insurance is important to the majority of drivers, and one common way to buy cheaper insurance for drivers over age 50 is to not pay for full coverage. The illustration below shows the comparison of yearly insurance costs with and without full coverage. Data assumes no accidents or driving violations, $250 deductibles, single marital status, and no other discounts are factored in.
On average, physical damage coverage on your policy costs an additional $1,745 per year more than just insuring for liability. At some point, almost every driver questions if buying full coverage is worth the money. There isn’t a steadfast formula to exclude comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is about 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.
For example, let’s assume your vehicle’s replacement cost is $9,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $8,000 after the policy deductible has been paid. If you are paying over $800 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.
There are some cases where buying only liability insurance is not recommended. If you haven’t satisfied your loan, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage in place.
Choosing a high-quality insurer is difficult considering how many companies there are in Phoenix. The ranking information in the next section may help you decide which car insurance companies you want to consider when looking for cheaper rates. The ratings below are for the largest auto insurers in America, so smaller companies are not included in these rankings.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Titan Insurance | 90 | 87 | 91 | 95% | A+ | 89.6 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Mercury Insurance | 88 | 91 | 90 | 85% | A+ | 89.4 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Nationwide | 87 | 88 | 84 | 90% | A+ | 88.7 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Travelers | 80 | 87 | 87 | 83% | A++ | 85.2 |
| Farmers Insurance | 78 | 87 | 88 | 79% | A | 84.3 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
The example below shows how choosing a deductible can raise or lower insurance prices when researching cheap insurance for drivers over age 50. The rate quotes are based on a single male driver, comp and collision included, and no discounts are taken into consideration.
As shown above, a 50-year-old driver could lower their policy premium by $244 a year by switching from a $100 deductible up to a $500 deductible, or save $370 by choosing a $1,000 deductible. Youthful drivers, like the Age 20 category, could save up to $808 each year by choosing a larger deductible amount.
When raising deductibles, it is important to have enough savings to enable you to cover the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
How to find cheaper auto insurance for drivers over age 50
Here are many penny-pinching ideas that can help Phoenix drivers find cheap coverage.
- Discounts for being claim-free can be substantial
- Drive vehicles with five-star safety ratings
- At-fault accidents will increase rates
- Maintain a clean driving record
- Buy your homeowners policy from the same company as your auto insurance
- Compare price quotes at least once a year
The last suggestion is remarkably important, as we stressed in the article above. Prices charged by car insurance companies fluctuate constantly, so drivers shouldn’t be resistant to switch companies if a cheaper rate is available. Many drivers prefer to stick with one company, but is isn’t recommended if that dedication is costing a fortune every year. Now is a great time to compare rates and find cheaper car insurance for drivers over age 50 in Phoenix.