What car insurance discounts are available for 40-year-old drivers?

The best discounts for 40-year-old drivers will vary based on individual circumstances and which deals apply to you. For instance, telematics or pay-per-mile discounts could be a great fit for safe, low-mileage drivers — but if you live in a dense urban area, work the night shift or have a long commute, you might not save money with this discount. Homeowners discounts could save you money if you own your home; if you rent, you might be better off going with a bundled renters and auto policy.

What is the cheapest car insurance for 40-year-olds?

No single insurance company offers the cheapest rates to all 40-year-olds. That’s because so many individual rating factors go into setting the price of car insurance — from your personal age, driving record and credit history (in most states) to traffic and weather patterns in your area, not to mention your state’s insurance laws and regulatory climate. What’s more, not all insurance companies offer coverage in every state. For instance, State Farm — one of the cheapest insurers for many drivers — doesn’t currently write new policies in Massachusetts or Rhode Island. Super-regional carriers like Auto-Owners and American Family have a limited national footprint. The bottom line: To find the cheapest car insurance for your unique profile and situation, you’ll need to compare personalized rates.

What does full coverage car insurance include?

Full coverage car insurance means that a policy includes both comprehensive and collision coverage. Comprehensive insurance typically protects your vehicle against theft, fire, bad weather, vandalism and damage from striking an animal. Collision insurance typically covers your car if it is damaged or totaled in an at-fault accident.

How much car insurance is recommended for a 40-year-old driver?

How much car insurance you need will vary based on your individual circumstances. As a first step, your policy must meet your state’s minimum insurance requirements. However, you may want to consider purchasing higher liability limits to provide greater financial protection. If you have a loan or lease, you will likely be required to carry full coverage insurance. If you have a new vehicle, you may want to consider purchasing new car replacement coverage or gap coverage.

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Car insurance for 40-year-olds

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Updated Oct 23, 2024

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Cheapest car insurance for 40-year-old drivers

We began our research by choosing the most popular carriers by market share — that is, those accessible to the largest number of consumers — and broke them down based on average annual premium for full coverage insurance, using premium data from Quadrant Information Services. On top of these low rates, these companies offer a number of discounts that could apply to drivers in their 40s. We also assessed their J.D. Power customer service scores and AM Best financial strength ratings.

Based on Bankrate’s research, major insurers like Auto-Owners, USAA, Geico, Amica and State Farm made our list for offering cheap average rates to 40-year-olds.


Auto-Owners	$455
USAA	$565
Geico	$555
American Family	$886
Travelers	$545


American Family	$886
Auto-Owners	$455
USAA	$565
Geico	$555
Travelers	$545

Auto-Owners is a super-regional insurer serving drivers in 26 states. It offers gap and diminished value coverages that could help protect you financially in the event of a major loss. For the most robust coverage, some drivers opt for its Personal Automobile Plus package, which includes 10 coverage add-ons, including smartphone replacement and vehicle re-keying. Auto-Owners is represented by 46,000 licensed independent insurance agents and carries an A++ (Superior) financial strength rating from AM Best — the highest level possible.

USAA’s average annual minimum coverage insurance rate for 40-year-old drivers is among the lowest on our list. However, USAA car insurance is only available to active-duty military, veterans and their eligible family members. If you qualify for membership, you can benefit from coverage options that include accident forgiveness and rideshare insurance. For active-duty members, USAA offers a 60 percent discount off your premium if you are deployed and store your vehicle. The company carries an A++ (Superior) financial strength rating from AM Best, the highest level possible.

Available in all 50 states and Washington D.C., Geico provides generally affordable rates for minimum and full coverage car insurance. Tech-savvy drivers may be especially interested in the company’s highly-rated mobile app, which allows policyholders to make policy changes, make payments and download digital ID cards. When it comes to coverage, one of the most unique options from Geico is mechanical breakdown insurance, which generally can be purchased for leased or new vehicles less than 15 months old and with less than 15,000 miles. Once you add the coverage, car repairs are included for most everything except wear and tear with a $250 deductible. Geico is rated A++ (Superior) by AM Best.

American Family received a Bankrate Score of 4.2 out of 5, attributed to its competitive premiums for both full and minimum coverage and high customer satisfaction ratings. Although it lacks nationwide coverage, its financial strength rating from AM Best is A (Excellent). American Family offers standard auto coverage along with innovative features like KnowYourDrive, rewarding safe driving habits with potential discounts of up to 20 percent, and diminishing deductibles, providing policyholders with deductible reductions for each year of safe driving.

State Farm’s car insurance for 40-year-old drivers is available online or through the carrier’s exclusive network of 19,000 local agents (State Farm is the largest car insurance company in the U.S. by market share). State Farm agents live in the communities they serve, which means they could be more in tune with the unique needs of your local area. Additionally, State Farm customers might be able to bundle their auto insurance with other coverages, such as homeowners, renters and life insurance, as well as get access to financial products and investor services for maximum savings and convenience. The company is rated A++ (Superior) by AM Best.