Average car insurance rates by age
With age comes wisdom, and lower car insurance rates, up to a point. This bears out when you look at average car insurance rates by age.
Car insurance for people under 25 years of age is typically quite high. Teens and young drivers are inexperienced behind the wheel and statistics show they, as a class in whole, are more likely to be in accident than other age groups, which makes them a high risk to auto insurance providers. High risk equals high rates.
As you’ll see in the “Average car insurance by age” charts below, in general, rates are cheapest for drivers in their 40s, 50s and 60s, and then increase again a bit at age 70. CarInsurance.com analyzed rates for nearly every ZIP code for six age groups and three coverage levels. Here you see average car insurance rates by age, for men and women, for the following coverage sets:
- State minimum — what you need to drive a car legally in your state
- Liability car insurance — $50,000 limit to cover bodily injury you cause to others in an accident, up to $100,000 per accident, with $50,000 to pay for damage you cause to another car or property
- Full coverage — liability with a $100,000 limit to cover bodily injury you cause to others in an accident, up to $300,000 per accident, with $100,000 to pay for damage you cause to another car or property, plus comprehensive and collision insurance, with a $500 deductible.
Full coverage 100/300/100 with $500 comprehensive collision deductible
To see average car insurance rates for teens, see the following articles, that feature rates by age, state and gender:
Age is just one factor that car insurance companies assess when deciding how much you pay. Other factors that affect car insurance rates include:
- where you live
- what model car you drive
- marital status
- your driving record
- your credit history
- your annual mileage
Each of these rating factors, among others, along with type of coverage you choose and with what limits, influences the rate you’ll pay for your car insurance policy.
And don’t forget that what car insurance company you choose makes a difference in the car insurance rates you’ll be offered. That’s because insurance companies assess risk differently, and each use their own formulas to calculate the price you pay. So the price for a policy will vary signigicantly among insurance companies.
Whatever age and whether male or female, you can save hundreds, if not thousands, of dollars depending upon the insurer you chose. For this reason, it s a must to compare car insurance companies and find the one that offers the best rates for your particular set of rating factors.
Tell us your thoughts
- Dallas Worrell April 21, 2017 at 11:11 PM
Thank you for such informative post. The downside of auto insurance is that owners have little knowledge about the coverage required for the insurance and they end up spending more than what they need to. By knowing your needs, and the mandatory laws regarding cover you can already start choosing low cost auto insurance. Though the age factor does affect the coverage cost for the insurance. Before you decide on purchasing insurance it is important to look at some aspects to getting cheaper insurance.
So interesting to see how the rates change as a driver gets older and more mature.
This helped me with an Algebra 2 project! Thanks so much! Great info.
This is pretty helpful for if you are just starting out shopping for car insurance :) Thanks, Penny for the great estimate!
Thanks! Helpful because this was the only site I’ve found that has a specific average listed. And I’ve been looking around everywhere for this information.
The only site I found that gave a specific average cost. Thanks!
Give me a chart with the actual prices of all car insurance place in dollars NOT percentages.
Thanks, this website is very helpful!
I agree there should be prices.
I would like it to state some prices!
Great information. Thanks!
Having an insurance calculator that actually calculated your average insurance rate using general questions as points of reference would be nice.
It can sometimes be very difficult to define the amount of coverage a person needs to be protected from accidents.
quite helpful. :) i like chicken nuggets
Everyone knows women are a liability regarding drvivng!
I have recently had 5 car accidents and no severe injuries but carinsurance.com has helped me through everything! I am so pleased!!
go car insurance
Well it is not you alls fault. The statement about males being more aggressive behind the wheel is completely false. Every female I know have heavy feet, and so does everyone knows this is true. They also almost all of the time let go of the wheel immediately when something goes wrong.