Who Has the Cheapest Auto Insurance for Drivers Over Age 50 in Los Angeles?

You have surely seen all the catchy commercials from auto insurance companies like Liberty Mutual and The General that say if you switch you’ll get huge savings, so drivers just need to pick the company with the cutest commercial, right?

It’s just not that easy, however, as there are a whole bunch of unknown aspects like how high your deductibles should be, citations or tickets, the miles you drive each year, and if you are married or single, that all help calculate your car insurance rates. We will touch on the best ways to avoid paying too much and should give you a good beginning to your quest for cheaper car insurance in California.

The vehicle requiring insurance is a large consideration when comparing quotes for the lowest-priced car insurance for drivers over age 50. Vehicles with average performance, a great safety record, or low incidents of liability claims will cost much less to insure than adrenaline junky models.

The next table illustrates coverage premiums for a selection of the most economical vehicles to buy insurance for.

Cheapest Vehicles to Insure in Los Angeles, CA
Vehicle Insured Estimated Cost for Full Coverage
Honda Accord LX 4-Dr Sedan $2,006
Honda CR-V LX 4WD $2,016
Ford Escape Limited 2WD $2,054
Ford F-150 XL Super Cab 2WD $2,204
Toyota Prius $2,227
Jeep Wrangler Sahara 4WD 2-Dr $2,252
Chevrolet Impala LS $2,332
Ford Edge Limited 2WD $2,342
Toyota RAV4 2WD $2,380
GMC Sierra SLE Regular Cab 2WD $2,385
Jeep Grand Cherokee Laredo 2WD $2,380
Chevrolet Malibu LS $2,385
Dodge Grand Caravan Hero $2,380
Toyota Tacoma Double Cab 4WD $2,425
Ford Explorer Eddie Bauer AWD $2,433
Hyundai Elantra GLS 4-Dr Sedan $2,508
Toyota Camry XLE $2,518
Toyota Corolla S $2,508
Volkswagen Jetta 2.0T 4-Dr Sedan $2,553
Chevrolet Equinox LTZ 2WD $2,558
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Price data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and California minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, multi-vehicle, and claim-free. Prices do not factor in specific location which can decrease or increase premium rates considerably.

Based on these rates, we can infer that vehicles like the Honda Accord, Honda CR-V, Ford Escape, and Ford F-150 are going to be a few of the most budget-friendly vehicles to insure for older drivers.

Figuring out which companies quote the cheapest car insurance rates for drivers over age 50 will involve a little more work than just comparing a company or two. Every insurance provider uses their own formula for determining prices, so we’ll go over the car insurance companies with the most affordable rates in California.

Keep in mind that Los Angeles, CA car insurance rates are calculated based on many things which can substantially decrease or increase the price of your policy. Simply turning a year older, increasing deductibles, or getting into an accident can trigger price changes that can cause some rates to be more affordable than others.

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Cheapest California car insurance ranked by price
Rank Company Cost Per Year
1 USAA $1,121
2 Wawanesa $1,181
3 Century National $1,190
4 CSAA $1,198
5 Nationwide $1,226
6 21st Century $1,379
7 Grange $1,433
8 Mercury $1,488
9 Allstate $1,497
10 Progressive $1,542
11 GEICO $1,559
12 Allied $1,603
13 MetLife $1,606
14 The Hartford $1,639
15 State Farm $1,699
16 Unitrin $1,699
17 Esurance $1,705
18 Bristol West $1,795
19 Travelers $1,842
20 Farmers $2,006
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USAA offers some of the most affordable car insurance rates in Los Angeles at around $1,121 per year. This is $530 less than the average price paid by California drivers of $1,651. Wawanesa, Century National, CSAA, and Nationwide would also make the list of some of the cheaper Los Angeles, CA auto insurance companies.

As shown above, if you are a customer of Nationwide and switched to Wawanesa, you could realize annual savings of about $45. Customers with 21st Century might save as much as $198 a year, and Grange customers might lower prices by $252 a year.

If you would like to find cheaper car insurance rates, click here to start a quote or click several companies below for low rates.

Understand that those prices are averaged across all drivers and vehicles and and are not figured with an exact zip code location for drivers over age 50. So the insurer that has the lowest price for you may not even be in the list above. That emphasizes why you need to compare as many prices as possible using your own driver data and vehicle information.

One of the more important considerations that are looked at to determine the annual cost of car insurance is where your residence is. Regions with more people or even just more weather-related claims are more likely to have higher rates, whereas areas that tend to be more rural have the benefit of cheaper car insurance.

The following table rates the most costly cities in California for drivers over age 50 to buy an auto insurance policy in. Los Angeles ranks #1 having an annual price of $2,168 for the average policyholder, which is around $181 monthly.

Car insurance prices in Los Angeles
Rank City Average Per Year
1 Los Angeles $2,168
2 Glendale $2,058
3 San Francisco $1,711
4 Oakland $1,687
5 Sacramento $1,669
6 San Bernardino $1,628
7 Santa Clarita $1,580
8 Long Beach $1,578
9 Stockton $1,556
10 Moreno Valley $1,551
11 Modesto $1,547
12 Fontana $1,519
13 Garden Grove $1,508
14 Santa Ana $1,497
15 Riverside $1,497
16 Anaheim $1,488
17 Fresno $1,457
18 San Jose $1,423
19 Fremont $1,403
20 Bakersfield $1,381
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Price information shown is comparative as vehicle location can alter premiums noticeably.

Liability only or full coverage

Saving money when shopping for car insurance should be important to the majority of vehicle owners, and one great way to pay lower rates for insurance for drivers over age 50 is to buy only liability coverage. The chart below shows the difference between car insurance costs with full coverage and liability only. The information is based on no driving violations, no at-fault accidents, $500 deductibles, single status, and no other discounts are factored in.

Averaged out for all age groups, physical damage insurance costs an additional $2,816 per year more than carrying just liability coverage. That proposes the question if it’s worth it to buy full coverage. There is no definitive guideline of when to phase out full coverage, but there is a general convention. If the annual cost of your full coverage insurance is about 10% or more of replacement cost minus your deductible, then you might want to think about dropping full coverage.

For example, let’s assume your vehicle’s claim settlement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, you would only receive $7,000 after the deductible is paid. If it’s costing you more than $700 a year for full coverage, then you may want to consider only buying liability coverage.

There are some cases where removing full coverage is not a good idea. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.

The diagram below shows how choosing a deductible can influence insurance prices when trying to find cheap insurance for drivers over age 50. The rate quotes are based on a single male driver, full physical damage coverage, and no discounts are factored in.

A 40-year-old driver could cut expenses by $362 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $546 by selecting a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could possibly save as much as $1,190 each year by choosing a larger deductible amount. When using a larger deductible, it is essential to have spare funds to be able to cover the extra out-of-pocket expense that is associated with using high deductibles.

Why you should be comparing rates

Los Angeles, CA car insurance rates are impacted by many factors which can substantially decrease or increase the cost of coverage. Simply having another birthday, marrying your spouse, or getting a few speeding tickets may prompt premium changes resulting in some rates now being more affordable than competitors. Not only may your risk profile change, but insurers modify rates without warning in order to offset underwriting gains or losses. Heavier than normal losses may cause rate hikes, while a better claims history can produce more affordable Los Angeles car insurance rates.

To illustrate this example, the graph below analyzes the cheapest car insurance in Los Angeles, CA for a 40-year-old female driver with no accidents or violations, and a high credit rating. When comparing rates based on her personal profile, USAA has the best car insurance rates in Los Angeles at $1,844 annually. This is $193 more than the average premium paid by California drivers of $1,651. Wawanesa, Century National, Nationwide, and CSAA are also on the list of the best Los Angeles, CA auto insurance companies.

The example below compares rates after we give the driver in the first example an accident surcharge, a lower credit rating, and an imperfect driving record. Because each company has their own guidelines to set premium rates, comparing insurance quotes will most likely result in a different set of companies as shown below.

Grange now has the best price in Los Angeles, CA with Allstate, Mercury, Progressive, and Allied also being competitive. This example demonstrates why it is critical to compare rates when trying to get the most budget-friendly insurance rates for drivers over age 50. Rates can be determined by many risk factors and can increase or decrease at any time, so the lowest-price company the last time you compared rates may now be priced much higher than other options.

Tips for buying cheaper auto insurance for drivers over age 50

Here are some money-saving solutions that can help Los Angeles drivers quote lower-cost car insurance.

That last tip is very necessary, as we stressed in the prior article. Prices charged by car insurance companies change constantly, so don’t hesitate to switch companies if a better rate can be found. Sticking with a specific company is fine, but is isn’t recommended if your bullheadedness ends up costing you a fortune every year. In less than five minutes you could compare rates to find cheaper car insurance for drivers over age 50 in Los Angeles.

The insurance agents in Los Angeles listed below can probably help you determine which coverages are best, as lots of drivers aren’t clear which coverage they need and would like to get help from a professional when shopping for the best coverage for older drivers. It can be hard to find the best policy yourself, and a professional agent can give you peace of mind knowing your coverage gives you sufficient coverage for your assets.

To locate a Los Angeles car insurance agency near you, click the link at the bottom or click here to compare price quotes now.

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