What age is car insurance most expensive?

Young drivers ages 16 to 24 often have the most expensive car insurance. Drivers in this age group are often inexperienced and are more likely to have car accidents and file insurance claims. As a result, auto insurance companies often charge young drivers higher premiums. In general, young drivers can expect to pay higher rates than older drivers, and around age 70, auto insurance rates start to rise again.

Because of trends and data on accidents, men are more at risk of insurance than women and often pay higher rates. If a specific vehicle model is more likely to cause damage in the event of an accident, the insurer may charge more for liability insurance. If you practice safe driving habits, maintain a good credit history, take advantage of discounts and compare prices annually, you can probably find a policy that easily fits your budget. While your gender will influence your car insurance rate (in most states), it doesn't necessarily mean that your premium is higher than the average cost of car insurance or that it's extremely expensive. Below, the tables show the average cost of car insurance by age for standard coverage sets when adolescence is in the rearview mirror.

Each qualifying factor, along with the type of coverage you choose, deductibles and discounts, influence the rate you'll pay for your car insurance policy. The amount you'll pay for car insurance depends on several very different factors, from the type of coverage you have, your driving record and where you park your car. Laura is an award-winning editor with experience in content and communications on auto insurance and personal finance. Generally speaking, younger drivers should see a gradual decline in their car insurance rates as they age, up to age 70. Regardless of your age and whether you're a man or a woman, you can save hundreds of dollars by comparing car insurance companies and finding the one that offers the best rates for you.

Insurers not only analyze how safe it is to drive a particular vehicle and how well it protects occupants, but also how much potential damage it can cause to another car. In addition, the state in which you live, your driving record, your credit rating, your claim history, and the types of coverage you choose can also affect to your cousin. Each insurance company follows its own rating system and method for calculating the risk of insuring a driver and determining rates. The NHTSA recommends that older drivers evaluate age-related changes in vision, fitness, attention, and their ability to react quickly to sudden changes.

And once you turn 80, there's another increase in rates starting at age 75 (an average increase of 9% for women and 12% for men)).

Elizabeth Unch
Elizabeth Unch

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