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Best Prices for Auto Insurance at Different Age Groups

Here's what you need to know...
  • Teens have the highest risk of having accidents, so they have the highest car
  • People over 60 tend to lose reflexes and tend to slow in reaction times, so their premiums will rise with age
  • Those in the 50-65 year age group pay the least for car insurance
Your age is an important factor in determining your auto insurance rate. Your age helps determine how much experience you have behind the wheel. Drivers with more experience tend to be safer drivers who get into fewer accidents.

However, there is a limit to how old you can be before it starts to work against you. What age group has the most affordable coverage?

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Drivers Aged 50-65 get the Best Rates

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Insurance companies believe that drivers in this age range provide little to no risk of getting into an accident. Drivers at this age tend to be cautious of other drivers on the road. They also understand traffic laws and take fewer risks while driving.

Reacting to different situations on the road can be easier when you can anticipate them coming. For example, it is easier to avoid an accident when you know the signs of a drunk driver coming your way.

Knowing how a driver behaves is the first step toward avoiding a dangerous situation. Car insurance for drivers over 50 is typically cheaper than any other age group.

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Drivers Younger Than 50

Drivers who are under the age of 50 can still get good rates. Once a motorist turns 26, most insurance companies are willing to give discounted rates.

This is because having up to a decade of experience driving gives them long enough to prove they are safe drivers. Staying out of accidents, avoiding tickets and never filing a claim will ensure good rates.

Individuals between the ages of 16-25 will often see the highest rates on the market.

This is mostly due to their inexperience behind the wheel. Drivers in this age group also tend to have higher rates of accidents compared to other age groups.

Younger drivers should take defensive driving courses to get discounts on their policies. Here are some tips on how to get affordable car insurance for drivers over 25.

Drivers Over 60 May Still Get Good Rates

adobestock_51609063-1600x1600Statistics show that drivers over the age of 60 start to show a decline in their reflexes behind the wheel. Anticipating a situation before it happens may still not allow enough time to take corrective actions to avoid an accident.

However, older drivers tend to be slower and more cautious while driving.

Having a long history of safe driving will also work in their favor. Safe driver discounts should be readily available to anyone in this age group who has gone without an accident or traffic ticket.

Consult your insurance agent if you think you qualify for the discount.

The age of a driver won’t really start to impact his rates until the age of 73. This is the age where it might be a good idea to start shopping around. Each insurance company will judge the risk you age potentially poses differently.

We have more information on car insurance for people over 60.

Your Life Situation Plays a Large Role

The type of vehicle driven by a 50-year-old may also be a reason for lower rates. People at this age may still be raising families. Family cars tend to come with modern features designed with safety in mind.

Newer cars are equipped with the following:

  • Anti-lock brakes
  • Airbags
  • Security devices

It should come as no surprise that these features are going to lower the rate paid by the driver.

Bundling your insurance policy is also much easier when you have a home to go with your car.

Auto insurance becomes much cheaper when you also have a homeowners policy to bundle with it. Bundling your insurance policy can save 10 percent on your insurance.

Drivers between the age of 50-65 also tend to have better credit scores than drivers who are younger. Having more time to pay off a mortgage lowers the amount of debt they have.

Older people tend to be more frugal with their spending as they save for retirement. These spending habits make it likely that their credit score is going to be almost perfect. Having good credit is another way to lower your risk in the eyes of the insurance company.

Getting a good rate on your car insurance policy is all about lowering your risk to the insurer. Having a history of safe driving, owning a safe vehicle, and having good credit all equal a lower rate. Drivers between the age of 50-65 tend to have all three of these qualities.

This doesn’t mean that a driver younger than 50 cannot get a good rate. It also doesn’t mean a driver over 65 cannot get a good rate.

The best thing to do at any age is to shop around for the best prices. Comparing quotes can save any driver money on their auto insurance policy.

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