At 40, a driver is firmly established in middle age. They will no longer see significant drops in their insurance rates each year like they did as a young adult, but the good news is, they will be getting much more affordable rates.
“When you reach this stage – in your 40s and 50s – insurance carriers have a lot of good data they can pull from,” says Jana Foster, owner of Nevada Insurance Agency Co., a full-service brokerage with offices in Carson City and Reno, Nevada.
“You’re in that sweet spot where you’re probably getting just about the lowest rates that you can.”
The average national car insurance rate for a 40-year-old driver is about $1,584 per year or $132 monthly for a full coverage policy. That’s about a $90 drop from what a driver would expect to pay at age 30, so not a significant gain, but a gain nonetheless.
Read on to learn more about car insurance for 40-year-olds and ways to save.
- For a full coverage policy, a 40-year-old driver pays an average of $1,584 per year or $132 monthly for car insurance.
- Unlike in their teens and early 20s, a 40-year-old male driver is assessed similarly to a female.
- Males pay an average of $1,583 for a full coverage policy, while females pay $1,586.
What’s the average cost for a 40-year-old?
Average car insurance rates for 40-year-oldsThe average car insurance rate for a 40-year-old at three coverage levels is as follows per year:
- State minimum liability coverage: $480
- Liability coverage with limits of 50/100/50: $602
- 100/300/100 liability with a $500 comprehensive and collision deductible: $1,584
What you pay will vary depending on many factors, including the insurance company you choose, where you live, coverage levels and the deductible you select.
The table below shows the cost of car insurance for males vs. females at various coverage levels in each state.
| State | State Minimum Female | State Minimum Male | Liability Only Female | Liability Only Male | Full Coverage Female | Full Coverage Male |
|---|---|---|---|---|---|---|
| Alaska | $345 | $336 | $435 | $414 | $1,349 | $1,359 |
| Alabama | $383 | $372 | $548 | $520 | $1,461 | $1,442 |
| Arkansas | $358 | $349 | $444 | $428 | $1,425 | $1,420 |
| Arizona | $460 | $452 | $662 | $636 | $1,476 | $1,484 |
| California | $578 | $578 | $853 | $853 | $2,110 | $2,110 |
| Colorado | $449 | $437 | $728 | $705 | $1,809 | $1,804 |
| Connecticut | $754 | $751 | $837 | $834 | $1,731 | $1,741 |
| Washington, D.C. | $585 | $577 | $673 | $663 | $1,833 | $1,858 |
| Delaware | $880 | $835 | $1,080 | $1,022 | $2,159 | $2,111 |
| Florida | $972 | $878 | $1,697 | $1,536 | $2,650 | $2,517 |
| Georgia | $519 | $504 | $646 | $626 | $1,585 | $1,555 |
| Hawaii | $389 | $389 | $519 | $519 | $1,306 | $1,306 |
| Iowa | $269 | $263 | $329 | $318 | $1,317 | $1,321 |
| Idaho | $295 | $294 | $356 | $352 | $1,038 | $1,052 |
| Illinois | $429 | $423 | $479 | $471 | $1,371 | $1,384 |
| Indiana | $354 | $346 | $413 | $400 | $1,184 | $1,184 |
| Kansas | $408 | $380 | $433 | $405 | $1,531 | $1,526 |
| Kentucky | $613 | $579 | $799 | $766 | $1,874 | $1,864 |
| Louisiana | $632 | $623 | $1,210 | $1,147 | $2,583 | $2,487 |
| Massachusetts | $534 | $534 | $653 | $653 | $1,528 | $1,528 |
| Maryland | $587 | $580 | $625 | $618 | $1,468 | $1,504 |
| Maine | $334 | $338 | $338 | $342 | $1,079 | $1,122 |
| Michigan | $731 | $731 | $778 | $778 | $2,158 | $2,158 |
| Minnesota | $493 | $475 | $529 | $511 | $1,444 | $1,482 |
| Missouri | $483 | $484 | $555 | $553 | $1,913 | $1,984 |
| Mississippi | $409 | $406 | $561 | $551 | $1,490 | $1,498 |
| Montana | $343 | $343 | $482 | $482 | $1,751 | $1,751 |
| North Carolina | $385 | $385 | $424 | $424 | $1,324 | $1,324 |
| North Dakota | $349 | $329 | $363 | $344 | $1,276 | $1,295 |
| Nebraska | $329 | $321 | $364 | $355 | $1,935 | $1,976 |
| New Hampshire | $401 | $395 | $436 | $430 | $1,270 | $1,266 |
| New Jersey | $1,072 | $994 | $1,215 | $1,134 | $1,947 | $1,910 |
| New Mexico | $390 | $372 | $575 | $546 | $1,524 | $1,509 |
| Nevada | $671 | $655 | $1,020 | $976 | $1,987 | $1,969 |
| New York | $965 | $875 | $1,053 | $960 | $2,124 | $2,020 |
| Ohio | $292 | $287 | $356 | $345 | $1,001 | $996 |
| Oklahoma | $339 | $329 | $542 | $509 | $1,708 | $1,692 |
| Oregon | $587 | $535 | $635 | $580 | $1,281 | $1,217 |
| Pennsylvania | $315 | $315 | $410 | $410 | $1,256 | $1,256 |
| Rhode Island | $608 | $593 | $755 | $736 | $1,716 | $1,717 |
| South Carolina | $658 | $628 | $842 | $793 | $1,910 | $1,894 |
| South Dakota | $273 | $267 | $297 | $289 | $1,524 | $1,581 |
| Tennessee | $337 | $329 | $423 | $409 | $1,314 | $1,311 |
| Texas | $529 | $509 | $665 | $630 | $1,799 | $1,794 |
| Utah | $524 | $501 | $652 | $619 | $1,442 | $1,414 |
| Virginia | $446 | $444 | $459 | $457 | $1,220 | $1,227 |
| Vermont | $280 | $285 | $309 | $315 | $1,059 | $1,102 |
| Washington | $461 | $443 | $612 | $584 | $1,223 | $1,203 |
| Wisconsin | $325 | $324 | $366 | $365 | $1,297 | $1,325 |
| West Virginia | $435 | $430 | $492 | $486 | $1,545 | $1,528 |
| Wyoming | $284 | $288 | $324 | $328 | $1,575 | $1,659 |
Note:
- State Minimum: State Minimum Liability Only
- Liability Only: 50/100/50 Liability Only
- Full Coverage: 100/300/100 is liability with comp/collision and $500 deductible.
Check out our detailed guide on the average car insurance rates by age
How much is car insurance for a 40-year-old each month?
The table below shows how much car insurance costs for a 40-year-old per month, on average.
| Coverage level | National average cost per month |
|---|---|
| Liability-only coverage | $40 |
| 50/100/50 coverage | $50 |
| Full 100/300/100 coverage | $132 |
How much is car insurance for a 40-year-old male?
At 40, a very minor but subtle change happens in the battle for the genders. Quite often, women begin to pay slightly more than men for insurance.
At age 40, men pay an average of $1,583 for a full coverage policy, while women pay $1,586. This is a big contrast compared to the teenage or early adult years when men pay substantially more than women.
Foster says what could very well be happening is that the risk premiums for men and women are now pretty much equal, but women may be driving more than men.
While not always the case, women are often responsible for shuttling kids to schools, between various sports and music classes, and doing most of the shopping for the household.
“You may have more young kids in the car, there’s a lot of distractions and more things happening in your life,” she says. “That gets reflected in the data the insurance carriers have.”
Compare that to a 20-year-old male driver who pays almost $470 more per year than a female for a full coverage policy.
| Coverage level | Average annual rate for a 40-year-old male |
|---|---|
| Liability-only coverage | $472 |
| 50/100/50 coverage | $591 |
| Full 100/300/100 coverage | $1,583 |
How much is car insurance for a 40-year-old female?
With a good driving record and credit score, 40-year-old female drivers will still get some of the best rates of their driving years.
The average national cost of a full coverage insurance policy for a 40-year-old female with a $500 comprehensive/collision deductible is $1,586, a savings of about $79 from what they would pay if aged 30.
| Coverage level | Average annual rate for a 40-year-old female |
|---|---|
| Liability-only coverage | $487 |
| 50/100/50 coverage | $613 |
| Full 100/300/100 coverage | $1,586 |
What’s the best car insurance for 40-year-old drivers?
Start with liability car insurance, which pays for others’ injuries and damage you cause to their property in an accident. Typically, the state minimum coverage isn’t enough – particularly as you accumulate assets, such as a house. Medical costs can quickly escalate if significant injuries follow an accident and property damages.
If you’re financing a vehicle, states usually require comprehensive and collision coverage. If you paid off your car, you decide to continue with these coverages, which cover your car following a crash and for damage due to fire, hail, vandalism and animal strikes.
As adults reach their 40s, they might become accustomed to purchasing new cars more frequently – and buying more expensive or roomy vehicles. In that case, they will likely want to include comprehensive insurance and collision coverage. If you have a higher deductible, you can lower your rate but will have to pay for minor repairs following an accident.
Kevin Lynch, an assistant professor of insurance at The American College of Financial Services in Bryn Mawr, says adults in this age category will often have more than one vehicle. That drives up the overall amount you will pay for insurance, but at the same time, carriers can offer you multi-car discounts.
Lynch says you may want to consider increasing your liability insurance around this time. It will cost a little more, but not a lot more, and offer better protection for your growing assets.
“It’s very, very cost-effective coverage,” he says. “This is also the stage when you might want to consider increasing your deductible. I carry a $1,000 deductible because I can afford to cover minor repairs.”
Car insurance discounts for 40-year-olds
The three most significant factors anyone can have in terms of getting the lowest insurance rates is to stay accident-free, have a clean, infraction-free driving record and maintain a good credit score.
After that, it pays to look for various discounts and affiliations that could bring further savings.
Take advantage of discounts for establishing paperless billing and paying your premium upfront.
If you’re working in a trade, or for a sizable company, check to see if your trade association has a discount arranged with an insurance carrier or if your company has a partnership. Many professional associations, from doctors to lawyers, accountants, dentists and others, may also be eligible for discounts from certain carriers.
Also, take advantage of bundling. If you have your home insurance, car insurance and maybe even boat, trailer or recreational vehicle insurance with the same carrier, you likely will receive an attractive discount.
It’s not always the case, so it pays to shop around.
Guide: How to lower car insurance in 2023
Final thoughts on car insurance for 40-year-olds
You’re very fortunate if you’ve managed to get through to your 40s with no accidents and a spotless driving record.
But odds are you are likely to have been in at least one, and if it’s been recently, you can expect your car rates to go up. However, you may be able to take steps to lessen the blow.
Lynch says he was recently involved in a car accident and saw his rates spike. His insurance agent suggested he install an in-car monitoring device to help lower them.
The device monitors his driving speeds, such as fast accelerations and hard braking, and sends the data back to the insurance carrier. As long as he exhibits safe driving tendencies, his rates should be reduced.
“I find it to be really non-intrusive,” Lynch says. “But I am conscious of the fact that that little device is recording what I’m doing. It makes me more mindful of the way I’m driving.”
When shopping for car insurance, compare rates from different insurers using an online calculator.
You might also be interested in Car insurance for teens:
- How much is car insurance for a 16-year-old?
- How much is car insurance for a 17-year-old?
- How much is car insurance for a 18-year-old?
- How much is car insurance for a 19-year-old?
Car insurance for young adults:
- How much is car insurance for a 20-year-old?
- How much is car insurance for a 21-year-old?
- How much is car insurance for a 22-year-old?
- How much is car insurance for a 23-year-old?
- How much is car insurance for a 24-year-old?
- How much is car insurance for a 25-year-old?
Car insurance for adults:
Car insurance for seniors:
Resources & Methodology
Sources
Insurance Institute for Highway Safety, Highway Loss Data Institute. “Fatality Facts 2020, Males and Females.” Accessed May 2023.
Methodology
CarInsurance.com commissioned Quadrant Information Services in 2023 to field rates for auto insurance for 40-year-olds at various coverage levels and for males and females by gender.
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