Auto Insurance Rates By Age
Here again allstate returned the cheapest quote for women in this age group at 849 a year.
Auto insurance rates by age - Insurance rates vary based on a number of factors but one of the most significant is age. According to a 2018 study commissioned from quadrant information services the average cost of car insurance varies significantly based on the driver s age. The following example is the average cost of liability coverage of for a one year old honda accord based on rates offered by the 6 largest insurance carriers.
Teens are new drivers inexperienced at dealing with complex traffic patterns and bad weather and are. Average car insurance rates by age can vary widely. Your rates will never again be as high as they are when you are a teen it s a simple fact.
As car insurance companies calculate your premiums they may place a large stock in your age if you or another driver in your household is under 25 years old or over 65 years old. For a middle of the road full coverage policy you ll pay around 420 per month if you re a teen and 170 if you re in your 20s according. Teens cause more accidents than any other age group in the u s.
Your car insurance rate may increase in your golden years. Your age plays a major role in the rate you ll pay for car insurance. Unfortunately this is the last major drop in annual car insurance prices.
Your next price drop for car insurance comes between the ages of 22 and 25 where you ll save another 1 039 in premiums. While this may seem like age discrimination at first glance the policy is based on solid evidence that these age groups along with new drivers are more dangerous on the roads. Typically drivers in their 40s and 50s pay the lowest rates.
Average car insurance rates by age. Auto premiums often start dropping after you turn 25.
