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

Establishing which company has the most affordable insurance rates for drivers over age 50 involves a little more sweat in order to find a policy that fits your budget. Each insurer uses a little different formula to determine premium rates, so let’s look at the rankings for the most competitive insurance companies in Nebraska.

Best Car Insurance Prices for Age 50+

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What’s the cheapest car insurance in Nebraska?
Rank Company Cost Per Year
1 Safeco $804
2 The Hartford $873
3 Auto-Owners $932
4 Allied $949
5 Farm Bureau Mutual $980
6 Farmers Mutual of Nebraska $989
7 Nationwide $1,027
8 State Farm $1,033
9 American National $1,054
10 General Casualty $1,092
11 USAA $1,116
12 American Family $1,246
13 California Casualty $1,257
14 Iowa Mutual $1,308
15 GEICO $1,322
16 MetLife $1,332
17 EMC $1,354
18 Progressive $1,445
19 Farmers $1,602
20 North Star $1,659
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Safeco has some of the most affordable car insurance rates in Lincoln at around $804 each year. The Hartford, Auto-Owners, Allied, and Farm Bureau Mutual also are some of the cheapest Lincoln, NE insurance companies.

As the example above demonstrates, if you are insured with Allied and switched to Safeco, you may see yearly savings of approximately $145. Insureds with Farm Bureau Mutual may save as much as $176 a year, and Farmers Mutual of Nebraska customers might reduce rates by $185 a year.

Bear in mind that those premiums are averages across all ages of drivers and types of vehicles and are not factoring in an exact zip code location for drivers over age 50. So the car insurance company that can offer you the best price may not even be in the top 24 companies in the list above. That’s why you need to get car insurance quotes using your own specific driver and vehicle information.

For older drivers, one of the largest things that are looked at to determine the annual cost of car insurance is your zip code in Lincoln. Cities with larger populations tend to have higher rates, whereas areas that tend to be more rural get the luxury of paying less.

The illustration below shows the highest-priced areas in Nebraska for drivers over age 50 to purchase a policy in. Lincoln ranks #24 costing $1,106 for car insurance, which is approximately $92 per month.

Car insurance prices in Lincoln
Rank City Annual Premium
1 Scottsbluff $1,374
2 Gering $1,343
3 Lexington $1,316
4 Alliance $1,300
5 McCook $1,279
6 North Platte $1,262
7 South Sioux City $1,251
8 Beatrice $1,235
9 Crete $1,234
10 Omaha $1,233
11 Blair $1,200
12 Kearney $1,200
13 York $1,191
14 Bellevue $1,190
15 Hastings $1,182
16 Seward $1,179
17 Nebraska City $1,176
18 Columbus $1,174
19 Norfolk $1,159
20 Grand Island $1,158
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Rates are comparative as the specific geographic location can lower or raise premiums considerably.

Discounts on Lincoln auto insurance

Insurance for older drivers in Lincoln, NEAuto insurance companies that provide coverage for drivers over age 50 may also give you price discounts that can reduce rates by 30% or more if you qualify for them. Companies and the discounts they provide are shown below.

The chart below shows the comparison of auto insurance rates with and without policy discounts. The rates are based on a male driver, no tickets, no at-fault accidents, Nebraska state minimum liability limits, comprehensive and collision coverage, and $250 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second shows the rates with claim-free, passive restraint, multiple policy, safe-driver, defensive driving course, and vehicle safety discounts applied. When drivers qualify for the discounts, theaverage amount saved on insurance for drivers over age 50 is 30% or $623.

Best insurance company in Nebraska

Ending up with the best insurance provider can be rather challenging considering how many choices you have in Lincoln. The company rank data below could help you analyze which insurers to look at when insurance shopping for drivers over age 50.

The ratings below include large, nationwide insurance companies, so companies without a large exposure are not included in the list. To compare prices from these and other top-rated companies, follow this link.

Top 10 Large Auto Insurers in Lincoln Ranked by Claims Service

  1. Progressive
  2. Travelers
  3. Liberty Mutual
  4. Nationwide
  5. USAA
  6. AAA Insurance
  7. Safeco Insurance
  8. GEICO
  9. Esurance
  10. The General

Top 10 Large Auto Insurers in Lincoln Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Liberty Mutual
  5. State Farm
  6. Allstate
  7. Safeco Insurance
  8. Travelers
  9. 21st Century
  10. Nationwide

How violations and accidents impact rates

A great way to get cheap insurance premiums for older drivers is to drive safely and avoid traffic citations and accidents. The chart below illustrates how speeding tickets and at-fault claims influence auto insurance rates for different ages of insureds. The information is based on a married male driver, comp and collision included, $500 deductibles, and no discounts are applied.

The data charted above shows the average cost of a car insurance policy per year with a clean driving record and no accidents is $1,324. Factor in one speeding ticket and the average cost increases to $1,519, an increase of $195 each year. Then throw in one accident along with the one speeding ticket and the annual cost of insurance for drivers over age 50 goes up to an average of $2,068. That’s an increase of $744, or $62 per month, just for not driving safely!