Age and Car Insurance Rates

Perhaps youth is wasted on the young—but when it comes to car insurance, teens and young drivers pay more in premiums, and if they are buying insurance for the first time, they are likely to receive high car insurance quotes. As drivers mature, they are more likely to pay less, because they are statistically better drivers.Unfortunately, if you are between the age of 16 and 25, you are statistically seen as a high risk by auto insurance companies. As a result, if you are looking to buy car insurance, you are more likely to face high auto insurance quotes if you fall within this age bracket.

Young male drivers face particularly high rates.  This is because young men—especially those who are 16—are responsible for most collisions in the country. It may not seem fair to young men who are great drivers (yes, they do exist) but companies are merely relying on statistics to come up with these quotes. Studies also show that young men are more likely to engage in risky behavior while driving.

Drivers over the age of 75 are also seen as a risk; in fact, people over 75 are seen as the second most risky age group—right behind those who are 16-25. Drivers over the age of 75 cause more collisions than those between 25 and 75.

Interestingly, drivers who fall between the ages of 40 and 50 are considered to be the best drivers, and as a result, they are often offered the lowest car insurance rates. The statistical disparity between the sexes when it comes to auto collisions also begins to close around this time, so men and women who are middle aged tend to receive similar rates.

As you can see, age plays an important role in what kind of car insurance quote you receive. However, it is only one factor. There are many others that go into what your insurance rates will be—including driving history, location, and the make and year of your vehicle.

Furthermore, if you fall within an age bracket that is considered “Risky,” there are things you can do to lower your rates. If you are a young driver under the age of 25 and are enrolled full-time in high school or college, you can get a Good Student Discount if you maintain a B average in your studies. Drivers of any age may also take a safe driving course, or a defensive driving course to lower their rates.

You should always ask your insurance provider if you qualify for any discounts, such as mature driver discounts, or military discounts. Remember the old adage, “Ask, and you shall receive. ”