The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, especially when trying to find the lowest insurance rates for drivers over age 50. In an attempt to save some money, let’s open your eyes to some situations that influence car insurance premiums, and find some ways to lower the price of the next policy you buy.
The type of vehicle needing coverage is a large factor in finding the most affordable auto insurance for drivers over age 50. Vehicles with high performance engines, a lack of modern safety features, or a track record of large liability claims will cost quite a bit more to insure than safer models. The information below estimates insurance premiums for some of the most affordable automobiles to insure.
|Vehicle Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V EX-L 4WD||$903|
|Honda Accord EX-L 4-Dr Sedan||$956|
|Ford Escape Limited 4WD||$965|
|Ford Explorer Eddie Bauer 2WD||$992|
|Ford F-150 XL Regular Cab 4WD||$999|
|Jeep Wrangler Sahara 4WD 2-Dr||$992|
|Toyota Tacoma 4WD||$997|
|Chevrolet Impala LS||$1,027|
|Ford Edge Limited 2WD||$1,035|
|Honda Civic DX 4-Dr Sedan||$1,027|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,033|
|Toyota Camry LE||$1,046|
|Nissan Altima 2.5 4-Dr Sedan||$1,055|
|Chevrolet Silverado LT Extended Cab 4WD||$1,046|
|Toyota RAV4 Sport 2WD||$1,052|
|Chevrolet Equinox LT 2WD||$1,046|
|Dodge Grand Caravan Hero||$1,051|
|Hyundai Elantra Blue 4-Dr Sedan||$1,082|
|Honda Odyssey EX-L||$1,101|
|Toyota Corolla S||$1,108|
|Hyundai Sonata GLS 4-Dr Sedan||$1,121|
|Nissan Rogue S 2WD||$1,128|
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Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Information does not factor in zip code location which can change prices greatly.
Looking at the rates, cars like the Honda CR-V, Honda Accord, Ford Escape, Toyota Prius, and Ford Explorer should be some of the more affordable vehicles to insure for older drivers.
Buying affordable insurance is not the easiest thing to do, and determining which insurers offer the cheapest car insurance rates for drivers over age 50 takes more quotes for comparison.
Each auto insurer uses a slightly different approach to set premium rates, so let’s begin by taking a look at the car insurance companies that tend to be cheaper in Corpus Christi, TX. It’s important that you understand Corpus Christi, TX car insurance rates are influenced by many factors which can substantially decrease or increase your annual premium. Improving your financial situation, moving to a different location, or getting a speeding ticket can cause premium changes that may make certain companies much higher than others.
Find Cheaper Auto Insurance for Age 50+
Travelers generally has some of the cheapest car insurance rates in Corpus Christi at around $1,010 per year. USAA, Texas Farm Bureau, Germania Mutual, and Esurance would also be considered some of the cheapest Corpus Christi, TX auto insurance companies.
In this example, if you have coverage with Germania Mutual and switched to USAA, you might see yearly savings of around $198. Texas drivers with Esurance may save as much as $337 a year, and California Casualty insureds might reduce rates by $354 a year.
To get a quick, customized rate comparison, click here to start a quote or visit any of the companies below.
Be aware that those policy rates are averages across all drivers and vehicles and and are not figured with an exact location for drivers over age 50. So the company that can offer you the best rate may not even be in the top 23 companies shown above. That illustrates why you need to get car insurance quotes using your own specific driver and vehicle information.
For older drivers, one of the big things that determine the amount you pay each year for auto insurance is where you live in Corpus Christi. Areas with high crime rates or more dense population tend to have more expensive car insurance rates, whereas areas that tend to be more rural have the luxury of cheap car insurance rates.
The following table shows the highest-priced areas in Texas for drivers over age 50 to purchase car insurance in. Corpus Christi shows up at #18 with a yearly cost of $1,636 for the average insured, which is around $136 per month.
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Annual rates are comparative as the specific zip code location can increase or decrease coverage prices considerably.
Price comparison of only insuring for liability
Lowering the price of car insurance should be important to most people, and an easy way to pay lower rates for insurance for drivers over age 50 is to not buy full coverage. The example below illustrates the comparison of car insurance rates with full coverage and liability only. The rates are based on no violations or claims, $1,000 deductibles, single marital status, and no other discounts are factored in.
As an average, comp and collision coverage costs $2,131 per year more than carrying just liability coverage. A very common question is if you should buy full coverage. There is no specific rule to stop paying for physical damage insurance, but there is a broad guideline. If the annual cost of having full coverage is 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
The diagram below shows how choosing a deductible can affect insurance prices when quoting cheap insurance for drivers over age 50. Data assumes a married male driver, full physical damage coverage, and no discounts are applied to the premium.
The chart above illustrates that a 40-year-old driver could lower rates by $358 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $540 by switching to a $1,000 deductible. Young drivers, like the 20-year-old category, can cut as much as $1,206 or even more by selecting a higher deductible.
If you do decide to increase your deductibles, it will be required to have additional savings on hand to enable you to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.
Best car insurance in Corpus Christi
Picking the best insurer is hard considering how many different companies sell coverage in Corpus Christi. The company information shown below could help you choose which auto insurance companies you want to consider when buying insurance for drivers over age 50.
These ratings are only made up of the largest auto insurers in America, so companies without a large exposure are not factored into these rankings. To compare price quotes from these and other companies in Texas, click here.
|Company||Value||Customer Service||Claims||Customer Satisfaction||A.M Best Rating||Overall Score|
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Data Source: Insure.com Best Car Insurance Companies
Comparing rates can save you money
Corpus Christi, TX car insurance rates are calculated based on many things which can substantially change the price you pay. Simply having a birthday, getting divorced, or having an at-fault accident can trigger price changes that can cause some rates to be more affordable than the competition. Not only may your risk profile change, but insurance companies amend pricing without warning to reflect underwriting profits or losses. Heavier than normal losses can cause price increases, while long-term profits can result in lower-cost Corpus Christi car insurance rates.
To help illustrate this point, the graph below shows the cheapest car insurance in Corpus Christi, TX for a 35-year-old female driver with no accidents or violations, and a good credit rating. If we look at prices based on her current situation, Travelers offers the best car insurance rates in Corpus Christi at $1,111 per year. This is $793 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are the remainder of the best Corpus Christi, TX auto insurance companies.
The next chart shows rates after we give the driver from above an accident surcharge, poor credit, and a speeding citation. Since each auto insurer has a different process for setting prices, comparing insurance quotes could now result in a different set of the cheapest companies as shown below.
State Farm now has the lowest car insurance rate in Corpus Christi, TX with Mercury, USAA, Nationwide, and Safe Auto now being in the top five. This shows why it is crucial to spend some time comparing rates when trying to get the lowest car insurance quotes for drivers over age 50. Auto insurance prices are influenced by many different factors and change substantially, so the cheapest company when you last compared rates may now be one of the higher cost companies.