What age does car insurance go down?





What age does car insurance go down?

Penalties for not having car insurance


This may not seem fair, but age is the biggest factor in car insurance rates. Statistics show that some age groups are more prone to accidents or violate traffic rules.

Drivers between 20 and 24

Car insurance rates begin to fall at around age 20. As long as it depends on a variety of factors, including how long you drive, and the history of being involved in accidents or committing traffic offenses. If you are a new driver aged 20 or older, you can still expect to pay more for car insurance than someone of the same age who has driven a car for several years.

Drivers from 25 to 65 years old

This is the age range in which car insurance premiums eventually become more affordable. Using the same example of a 20-year-old male driver paying $ 1,129 a year for standard minimum liability insurance, we can see that the premium falls to $ 552 at age 30. That’s a drop of over 50 percent!

Drivers over 65 years old

The situation begins to reverse after reaching the 60s. From this moment, car insurance premiums begin to increase slowly. Not so much older drivers are more reckless, but rather age-related physical changes have an impact on their driving.

Regardless of age, you should look around to find the best car insurance rates. Each company offers its own benefits and value, so you decide what you need from your insurer.



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