All About Auto Insurance Age Brackets

People with Different Age Brackets having Auto Insurance

You are wondering how your age affects auto insurance prices? Learn about auto insurance age brackets and how they determine how much you pay for insurance.

When it comes to car insurance, age isn’t just a number. While it may not seem fair that your car insurance rates are affected by your age, it’s actually the most significant factor when getting a quote from an insurance company. When comparing auto insurance vs age, age is a measure of accident risk and moving violations along with driving experience. 

If you’re wondering, how does age affect auto insurance rates, read on. In this article, we’ll discuss auto insurance age brackets and how they determine how much you pay for car insurance.

Auto Insurance Age Ranges: Who Pays More?

Generally, the more experience drivers have, the less likely they are to get into an accident. That’s how insurance companies see it. In other words, experienced drivers are less likely to submit a claim, so it costs less to insure them.

Below are auto insurance age groups and generalized insurance rates:

  • Younger than 18: This high-risk group will pay an average of almost $7000 a year, depending on gender. New drivers pay a lot more than other drivers.
  • Ages 18-21: Once a driver turns 18, car insurance rates go down. However, drivers will still pay an average of $4000 per year. 
  • Ages: 22 to 25: During these ages, a driver will enjoy the last significant drop in insurance prices for many years. Men will still pay more than women, and drivers should expect to pay an average of $3000 per year. 
  • Ages: 26 to 30: The average cost of car insurance for this age group is about $2500 annually. 
  • Ages 31 to 35: This age group will pay about the same as the group above. 
  • Ages 36 to 45: Premiums for these ages increase just a bit – expect to pay around $2550 for annual car insurance.
  • Ages 46 to 55: This age group begins to see savings again. Annual premiums average at $2500 per year.
  • Ages 56 and older: These drivers will pay the cheapest rates because auto insurance companies consider this group like low risk. They have more driving experience, so they’ll pay an average rate of $2400 per year.

Other factors that affect your auto insurance rate include the kind of car you drive, how much you use your vehicle, and your driving record. If you have a lot of traffic violations and accidents on your record, expect to pay more.

What Age Do You Stop Paying Your Child’s Auto Insurance?

Most states require that drivers have their auto insurance at age 25. So, the time to take your child off your policy is when they turn 25 or sooner, depending on the circumstances. 

If you’re asking, how much should I be paying for car insurance, InsureOne can help. Whether you’re looking for the best rates for drivers under 18 or auto insurance for seniors over 80, we find you the best coverage at the best price. Call us or stop by a local office today to get a free car insurance quote.