What Car Insurance is Cheapest for Drivers Over Age 50 in Phoenix?

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.

How much is auto insurance in Phoenix, AZ?
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
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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+

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Rankings for the cheapest Arizona auto insurance companies
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
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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.

Best Auto Insurance Companies for Drivers Over Age 50 in Arizona
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
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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.

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.