For older drivers, one of the big criteria that determine the cost of insurance is where you call home. Regions with larger populations or more claims like Burke, Arlington, and Alexandria likely pay more, whereas areas with less crime or weather claims profit from lower rates.
The following table sorts the most expensive areas in Virginia for drivers over age 50 in which to buy car insurance.
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Table data uses approximated as the specific geographic location can impact price quotes substantially.
The type of vehicle you are trying to insure is one of the largest considerations when trying to find cheaper car insurance for drivers over age 50. Vehicles with lots of horsepower, poor safety ratings, or high incidents of liability claims will cost much more to insure than more economical and safe models.
The data below outlines insurance costs for the cheaper vehicles to buy coverage for.
|Vehicle||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$467|
|Honda Accord EX 4-Dr Sedan||$473|
|Ford Escape Limited 2WD||$477|
|Ford F-150 XLT Regular Cab 2WD||$513|
|Dodge Grand Caravan SE||$524|
|Ford Explorer XLT AWD||$532|
|Chevrolet Impala LS||$544|
|Volkswagen Jetta SE 2.5 Station Wagon||$548|
|Chevrolet Malibu Hybrid||$554|
|Toyota Camry LE||$563|
|Chevrolet Equinox LS AWD||$554|
|GMC Sierra SLE Crew Cab 2WD||$561|
|Toyota RAV4 2WD||$554|
|Toyota Tacoma Double Cab 4WD||$565|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$570|
|Toyota Corolla XLE||$584|
|Hyundai Elantra GLS 4-Dr Sedan||$590|
|Nissan Altima 2.5 S 4-Dr Sedan||$584|
|Ford Edge Sport AWD||$590|
|Hyundai Sonata GLS 4-Dr Sedan||$593|
|Nissan Rogue S AWD||$600|
|Ford Fusion SE 4-Dr Sedan||$594|
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Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Virginia minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Table data does not factor in Virginia location which can change premium rates significantly.
Looking at the rates, vehicles like the Honda CR-V, Honda Accord, Ford Escape, and Ford F-150 will be the more affordable vehicles to insure for older drivers.
Illustration showing the impact of accidents and violations
The easiest method to obtain the most affordable car insurance prices in Virginia for older drivers is to be an attentive driver and avoid accidents and traffic citations. The example below shows how violations and at-fault collisions can increase yearly insurance costs for each different age group. The premiums assume a single female driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.
The data charted above shows the average cost of an auto insurance policy in Virginia per year with a clean driving record and no accidents is $1,291. Add in two speeding tickets and the average cost jumps to $1,728, an increase of $437 each year. Now get one accident along with the two speeding tickets and the 12-month cost of car insurance for drivers over age 50 in Virginia jumps again to an average of $2,167. That's an increase of $875, or $73 per month, just for being a less-than-perfect driver!
The example below illustrates how your choice of deductibles can influence yearly insurance costs when quoting cheap insurance for drivers over age 50 in Virginia. The premiums assume a single female driver, full coverage, and no discounts are applied to the premium.
The data above shows that a 50-year-old driver could cut expenses by $284 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $428 by choosing a $1,000 deductible. Even younger drivers, such as the 20-year-old example, can cut as much as $726 or more just by choosing higher deductibles. If you make the decision to raise deductibles, it will be necessary to have enough funds in savings to satisfy the extra out-of-pocket expense associated with higher deductibles.
How to find economical insurance for drivers over age 50 in Virginia
Below you'll find a few money-saving solutions that can help Virginia drivers buy cheaper coverage.
- Pay for small claims rather than turning them in to your insurance company
- Increase your comprehensive and collision deductibles
- Increase your credit rating
- Full coverage may not be needed on older vehicles
- The safer your car, the less it costs to insure
- Multi-policy discounts save money
- Comparison shop at least every other year
That last tip is extraordinarily important, as was pointed out in this article. Car insurance prices change constantly, so don't be tentative to buy a different policy if a more affordable price is available.
Being loyal to a particular company is commendable, but it's not a good idea if that dedication is costing lots of hard earned cash every month. In just a couple of minutes you could compare prices and find cheaper auto insurance for drivers over age 50.