Understanding How Insurance Prices Change With Age

Whether you’re a young driver, middle-aged, or still getting behind the wheel in your golden years, it will have a significant impact on your average monthly premiums. Depending on your age, years of experience driving, and whether or not you still have the quick reflexes needed to avoid an accident, your insurance company will evaluate your potential risk and adjust the price for the coverage they offer you accordingly. Although there’s nothing you can do to change how old you are, there are steps you can take to lessen the impact of how much your age may increase your car insurance rates.

Car Insurance and Young Drivers

If you’re a young driver, then we have some bad news: before the age of 25, you will be paying some of the highest car insurance premiums that you will ever pay over the course of your life. Your inexperience behind the wheel has a higher potential to result in an accident. Also, because your brain is still developing, you may not yet have the cognitive skills to make the best decisions; this can lead to risky behaviors behind the wheel such as speeding, allowing electronic devices to distract you, and even taking the risk of driving while intoxicated. Statistically speaking, most teenagers get into their first claim-worthy accident when:

  • They have been driving for less than a year
  • At night, or during other conditions which limit disability
  • If they have poor grades
  • When driving around for fun (as opposed to driving to school or work)
  • On the weekend, especially to and from social events
  • If they’re driving while their cell phone is on and within reach

The more effort you put into avoiding any and all of the above circumstances, the less likely you are to get into an accident – and, in turn, the more likely you are to get a better rate on your car insurance.

Average Rates of Younger vs. Older DriversLegend: Average Car Insurance Rate16 Years Old 26 Years Old 36 Years Old15 30 45 60 75 90 105 120 135 150 165 180 195$205$109$98

In addition to the behaviors above, you can earn further discounts by being smart – literally. Things like earning good grades, taking driver’s education classes, and leaving your vehicle at home while you are at college can lead to some pretty decent discounts.

Average Rates of Older vs. Elderly DriversLegend: Average Rate35 Years Old 55 Years Old 75 Years Old 85 Years Old15 30 45 60 75$66$63$77$89

Car Insurance for Older Drivers

To the credit of senior citizens, their many, many years of driving experience help them avoid paying auto insurance premiums which are as expensive as a teenage drivers. However, past a certain age, premiums for older drivers will begin to rise. This has to do with an increasing lack of physical capabilities, such as deteriorating eyesight, lack of muscle coordination, and slower reflexes. If you have trouble seeing, if you have trouble operating your vehicle, and if you are less able to react to sudden threats on the road, you’re more likely to get into an accident. This means you’re more likely to cost your insurance company money, and they will compensate for this risk by charging you a higher premium.

Young Driver Insurance Premiums With and Without DiscountsLegend: Young Driver Discounts Without DiscountsMissouri Florida California20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 500$125 $194$237 $316$405 $515

Again, there’s nothing you can do to turn back time and find a way to reduce the physical symptoms of aging. But there are some steps you can take to make sure that your body doesn’t keep you from being a safe driver, such as:

  • Exercising regularly to keep your mind and your physical coordination sharp
  • Cognitive exercises to improve awareness and reaction time
  • Eating a healthy diet
  • Getting regular health check-ups, especially eye exams
  • Occasionally brushing up on your knowledge with defensive driving and other driver education courses
  • Keeping your license current

Whether you are young, old, or somewhere in between, your age will have a noticeable effect on how much you pay each month for your car insurance premiums. Taking the advice above to heart can help you get a better deal – but so can comparison shopping! If you only get quotes from one or two different providers near you, there’s a good chance you may not be getting the best deal. But we can help you compare multiple quotes quickly and easily. If you’re ready to get the best deal possible, put your zip code in our quote generator now and get ready to save.