Establishing which company has the lowest-priced insurance rates for drivers over age 50 will involve more work in order to find the best policy. Every auto insurer has a unique formula to set policy rates, so we need to take a look at the lowest cost insurance companies in Boston.
It’s important to know that Boston, MA insurance rates are impacted by many factors that may substantially change the price of coverage. Simply having a birthday, getting divorced, or getting a reckless driving citation can trigger rate changes resulting in some companies being much cheaper than others.
Best Cheap Insurance Rates for Age 50+
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | State Farm | $741 |
| 2 | National Grange Mutual | $823 |
| 3 | GEICO | $876 |
| 4 | OneBeacon | $885 |
| 5 | Commerce Group | $902 |
| 6 | Progressive | $999 |
| 7 | USAA | $1,034 |
| 8 | Norfolk and Dedham | $1,036 |
| 9 | Arbella | $1,040 |
| 10 | Amica | $1,142 |
| 11 | Quincy Mutual | $1,281 |
| 12 | Vermont Mutual | $1,297 |
| 13 | Safety Group | $1,312 |
| 14 | Travelers | $1,349 |
| 15 | MetLife | $1,397 |
| 16 | Hanover | $1,399 |
| 17 | Peerless | $1,399 |
| 18 | Plymouth Rock | $1,541 |
| 19 | Allstate | $1,738 |
| 20 | Liberty Mutual | $1,753 |
| View More Rates Go | ||
State Farm normally has some of the best car insurance rates in Boston at around $741 each year. National Grange Mutual, GEICO, OneBeacon, and Commerce Group also make the cut as some of the more affordable Boston, MA car insurance companies.
In the rate table above, if you currently have coverage with GEICO and switched to State Farm, you could realize savings of upwards of $135. Insureds with OneBeacon might save as much as $144 a year, and Commerce Group policyholders might lower prices by $161 a year.
If you would like to find cheaper car insurance rates, click here to start your free quote or visit several of the following companies.
Bear in mind that those prices are averages across all drivers and vehicles in Massachusetts and do not factor in an exact vehicle garaging location for drivers over age 50. So the company that has the cheapest rates for you may not even be in the list above. That is why you need to get auto insurance quotes using your own driver information and specific vehicle type.
The vehicle model you are trying to insure is one of the largest considerations when shopping for the best cheap auto insurance for drivers over age 50. Vehicles with lots of speed or power, poor crash test ratings, or high incidents of liability claims will cost significantly more to insure than more modest models. The next list showcases car insurance prices for some of the most budget-friendly automobiles to buy coverage for.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda Accord LX 4-Dr Sedan | $1,494 |
| Honda CR-V EX-L 4WD | $1,529 |
| Ford Escape XLT 4WD | $1,538 |
| Jeep Wrangler Sport 4WD 2-Dr | $1,543 |
| Ford F-150 XL Regular Cab 2WD | $1,552 |
| Hyundai Elantra SE Touring Station Wagon | $1,623 |
| Toyota Prius | $1,656 |
| Toyota Tacoma 4WD | $1,675 |
| Dodge Grand Caravan SE | $1,685 |
| Ford Explorer XLT 4WD | $1,675 |
| Ford Focus SE 4-Dr Sedan | $1,733 |
| Volkswagen Jetta 2.0T Station Wagon | $1,753 |
| Chevrolet Equinox LT AWD | $1,769 |
| Toyota Camry LE | $1,777 |
| Toyota RAV4 Sport 2WD | $1,769 |
| Chevrolet Malibu LS | $1,777 |
| Chevrolet Impala LT | $1,769 |
| Compare Rates Now Go | |
Table data represents single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Massachusetts minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, multi-policy, and claim-free. Price estimates do not factor in specific garaging location which can lower or raise auto insurance rates substantially.
Based upon these rates, vehicles like the Honda Accord, Honda CR-V, and Ford Escape will be a few of the most budget-friendly vehicles to insure for older drivers.
For older drivers, one of the more important things that are looked at to help calculate auto insurance rates is the neighborhood you call home in Boston. Areas with more people or more claims tend to have more expensive auto insurance rates, whereas areas with fewer weather claims and lower vehicle theft rates benefit from having to pay less for coverage.
The next table ranks the most expensive places in Massachusetts for drivers over age 50 in which to purchase auto insurance. Boston shows up at #7 with an annual cost of $1,752 for the average policy, which is about $146 monthly.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Revere | $2,192 |
| 2 | Brockton | $2,122 |
| 3 | Lynn | $1,998 |
| 4 | Malden | $1,936 |
| 5 | Springfield | $1,908 |
| 6 | Lawrence | $1,858 |
| 7 | Boston | $1,752 |
| 8 | Fall River | $1,700 |
| 9 | New Bedford | $1,698 |
| 10 | Worcester | $1,678 |
| 11 | Somerville | $1,665 |
| 12 | Medford | $1,638 |
| 13 | Quincy | $1,581 |
| 14 | Lowell | $1,527 |
| 15 | Chicopee | $1,470 |
| 16 | Cambridge | $1,446 |
| 17 | Framingham | $1,446 |
| 18 | Weymouth | $1,446 |
| 19 | Brookline | $1,442 |
| 20 | Haverhill | $1,438 |
| Compare Prices Now Go | ||
Annual rates are comparative as vehicle location can revise coverage rates substantially.
The information below shows how choosing a deductible can raise or lower premium costs when researching cheap insurance for drivers over age 50. The prices are based on a single male driver, comp and collision included, and no other discounts are factored in.
In the chart above, a 30-year-old driver could lower their car insurance rates by $310 a year by increasing from a $100 deductible up to a $500 deductible, or save $466 by selecting a $1,000 deductible. Younger drivers, like the Age 20 category, could possibly save $902 or even more just by choosing higher deductibles when buying full coverage. When using a larger deductible, it is a good idea to have spare funds to enable you to pay the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.
Choosing the highest-rated auto insurance company is hard considering how many choices you have in Massachusetts. The company rank data in the lists below could help you select which coverage providers to look at putting your business with.
The rankings below are for companies that insure vehicles nationwide, so companies that have a smaller presence are not taken into consideration for this list. To compare prices from these and other top-rated companies, just click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| The Hartford | 88 | 96 | 91 | 93% | A+ | 92.6 |
| Progressive | 84 | 94 | 99 | 90% | A+ | 92.4 |
| Travelers | 84 | 93 | 100 | 87% | A++ | 92.3 |
| State Farm | 84 | 93 | 95 | 87% | A++ | 91 |
| Farmers Insurance | 87 | 92 | 90 | 85% | A | 90.6 |
| Safeco Insurance | 85 | 91 | 87 | 86% | A | 88.4 |
| USAA | 71 | 93 | 98 | 87% | A++ | 88 |
| GEICO | 73 | 93 | 95 | 85% | A++ | 87.1 |
| Liberty Mutual | 72 | 91 | 97 | 83% | A | 86.4 |
| AAA Insurance | 85 | 85 | 88 | 86% | A | 85.8 |
| Allstate | 69 | 92 | 92 | 83% | A+ | 84.4 |
| American Family | 77 | 96 | 80 | 85% | A | 83.8 |
| Esurance | 70 | 80 | 89 | 77% | A+ | 79.2 |
| Compare Rates Now Go | ||||||
Data Source: Insure.com Best Car Insurance Companies
Types of discounts on Boston insurance
Insurance companies that offer cheap quotes for drivers over age 50 may additionally offer price discounts that could reduce prices by 40% or more if you meet specific eligibility requirements. Popular insurance companies and some of the premium reductions they offer can be found below.
- State Farm offers discounts for accident-free, passive restraint, Steer Clear safe driver discount, multiple policy, anti-theft, safe vehicle, and driver’s education.
- American Family has discounts for defensive driver, bundled insurance, early bird, multi-vehicle, TimeAway discount, and accident-free.
- AAA may offer discounts for anti-theft, multi-policy, pay-in-full, good student, and good driver.
- GEICO policyholders can earn discounts including membership and employees, air bags, anti-theft, federal employee, and seat belt use.
- Mercury Insurance includes discounts for annual mileage, multi-policy, anti-theft, professional/association, and good driver.
- Farmers Insurance offers discounts including business and professional, good student, mature driver, distant student, early shopping, electronic funds transfer, and multi-car.
- Progressive may include discounts for homeowner, online signing, multi-vehicle, multi-policy, continuous coverage, and good student.
The example below compares annual premium costs with and without discounts. The information is based on a male driver, no violations or claims, Massachusetts state minimum liability limits, full physical damage coverage, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The lower bar shows the rates with defensive driving course, passive restraint, multiple vehicle, vehicle safety, homeowner, and multiple policy discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on insurance for drivers over age 50 is 29% or $757.
How to find economical insurance for drivers over age 50
Below you’ll find many money-saving suggestions that can help Boston drivers get cheap auto insurance.
- Increase your credit score
- Buy your homeowners policy from the same company as your auto insurance
- Get cheaper liability coverage by choosing a safer vehicle
- Do not get into accidents that are your fault
- On older vehicles, drop full coverage
- Compare prices frequently to find the best deal
The last suggestion is very crucial, as was pointed out in the prior article. Prices charged by auto insurers adjust often, so don’t be hesitant to buy a different policy if a lower-cost policy is available.
Loyalty to a specific company is fine, but it isn’t a good idea if that inflexibility results in costing you money that could be going to better use. Spend a few minutes and compare rates and find cheaper auto insurance for drivers over age 50 in Boston.