Auto Insurance Rates By Age
Maturity and driving experience reduce the cost of insurance and age 25 is the inflection point.
Auto insurance rates by age. Typically drivers in their 40s and 50s pay the lowest rates. Costs continue to generally decline with each birthday with drivers in their 50s seeing the best rates. Teens cause more accidents than any other age group in the us. Your next price drop for car insurance comes between the ages of 22 and 25 where youll save another 1039 in premiums.
Your age plays a major role in the rate youll pay for car insurance. Car insurance rates vary greatly depending on age. Unfortunately this is the last major drop in annual car insurance prices. Your auto insurance premiums are impacted by more than just geography.
This is why you want to keep shopping for car insurance throughout your life so you ensure the best. Car insurance rates for drivers ages 22 to 25. Drivers 24 years of age and under often pay the highest insurance rates. 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.
Your rates will never again be as high as they are when you are a teenits a simple fact. Your car insurance rate may increase in your golden years. Teens are new drivers inexperienced at dealing with complex traffic patterns and bad weather and are. Here again allstate returned the cheapest quote for women in this age group at 849 a year.
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. Car insurance is expensive in montana. Your risk profile as a driver will change throughout your life so you may be eligible for discounts at some points in your life while other times you may see your car insurance price increase. 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.
Average car insurance rates by age. How age affects car insurance rates. According to a 2018 study commissioned from quadrant information services the average cost of car insurance varies significantly based on the drivers age. How gender affects car insurance rates.
The average car insurance rate in montana is 1615 per year 131 more than the us average. How much each gender pays also is significant. Auto premiums often start dropping after you turn 25. Insurance rates vary based on a number of factors but one of the most significant is age.