Ever wonder about average car insurance rates by age? Age is one of the most important factors car insurance companies use when calculating car insurance rates. An auto insurance company uses age as an indication of driving experience and accident risk. Generally speaking, the older you get and the more experience you have driving, the less likely you are to get into an accident and submit an insurance claim. A quick analysis of car insurance rates by age will show that a 16 or 18 year old has much higher insurance costs than any other age group because a new driver is simply more risky to insure.
After you understand the relationship between age and premiums, you may want to compare online quotes to see where you stand versus other drivers your age. Similarly, a price comparison can also help you gauge how much insurance costs for males versus females as first-time male drivers tend to be more aggressive as well. So whether you’re 16, 18, 20, 21, 25, 30 or beyond and want to know the cost of auto insurance for your age group, check out our guide below!
Average Car Insurance Rates By Age
Below, you will find a breakdown of average car insurance rates by age. As expected, premiums decrease significantly after the age of 25. Further research indicates that 15 to 20 year olds constitute about 6% of licensed drivers, but account for over 10% of fatal crashes. You will also notice that auto insurance costs start to trend upwards again as drivers become 60, 65, and 70 years old. This can be explained by poor vision and slower reflexes as a result of aging, leading to higher incidents of collision and claims.
For your convenience, we’ve also included a table that demonstrates the average cost of car insurance by age:
|Driver's Age||Average Cost Per Year|
Understanding how age affects auto insurance rates can help consumers compare quotes to find the best coverage with the cheapest car insurance company.