Car Insurance Rates by Age Group

Car Insurance Quotes by Age Group

There are many factors that go into car insurance quotes, but if you have started doing your homework, then you know the first question you are asked when seeking car insurance quotes is your birthdate.  The reason for this is that your age is one of the most significant variables in determining your car insurance rates.  Find out here how all of that plays a role as we break down your car insurance quotes and estimates by age group!

Auto insurance rates for younger people

Teenagers (16-19) $3,000

Statistically speaking, car insurance rates are higher for teens because they get in more car collisions and accidents than any other age group.  This is due to their lack of experience on the road, and this has an effect on any teen’s insurance, no matter how good a driver they are or how responsible they are.  The average car insurance rate for drivers in the age group of 16-19 is approximately $3,000, and while that is just an estimate, it is fairly average across the board.  Parents who usually pay the brunt of this bill can cut their car insurance rates for their teens by adding their teenager onto their own policy as a secondary driver.

Young Adults (20-25) $2,000

At this point in the game of driving records, young adults have earned some more experience on the road and can expect to see their rates begin to decline.  However, this is the second most expensive age group when it comes to car insurance, because years of experience on the road are not abundant enough to reduce rates.  A 20-25 year old can expect to pay an estimated $2000 for car insurance, and this rate may be even higher for men.  The good news is if you have never been in a collision at this point, you may pay up to $500 less than someone in your age group who has.

Young Adults (25-29) $1700

If you were in a collision prior to this age period, you have probably seen some hikes on your insurance rate.  If the accident happened when you were a teenager, around now is the time you can expect to see those rates drop.  Men will also pay more in car insurance due to the fact that statistically speaking they are in more accidents.  Again, if you can stay on your parent’s policy, you will see lower rates, but by this point in your life you are probably wanting your own policy.  The average car insurance quotes for this age group are estimated at $1700, and this could vary depending on your gender and collision history.

Adults (30-39) $1600

Here you start to see the benefits of getting older, as by the time you turn 30, your car insurance starts to drop so long as you  have maintained a good driving record and are driving a sensible vehicle.  This is a good time to start quote comparison, as by this age, car insurance companies are getting competitive for your business with your good driving record.  The estimated car insurance rates for this age group with a good driving record are around $1600.

Auto insurance rates for older people

Adults (40-49) $1500

This is the point in your life when being a responsible driver will pay off financially. You can expect your rates to begin to drop every five years once you turn 40.  For good drivers in this age group, car insurance rates are estimated around $1500.

Adults (50-59) $1220

Once again, your good driving history is paying off, and this is often the biggest rate reduction age group.  Though these are estimates, you can expect to be rewarded with rates as low as $1220 by the time you turn 50.

Adults (60-64) $1,170

If you have maintained a good driving record, this time of your life will bring you the lowest rates on car insurance.  Estimates as low as $1170 for the 60-64 group who have no collision history.

Retired (65+) $1200
Once you hit retired years, your vision and reaction time begin to decrease, and this will play a role in your car insurance rates.  As you hit the retired age, your car insurance goes up a little as research shows the retired group also has a higher collision rate than other age groups.

As you can see, age plays a major role in your car insurance quotes.  You can also see how important your driving record is in these quotes as well.  Keep being a responsible driver, and as you can see, with time, you will see lower car insurance quotes.