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How your age affects your car insurance cost

Your age is one of the factors that insurance companies use to determine your auto insurance rates. Insurance companies consider age an indicator of risk, which is why young drivers typically pay more for car insurance than older drivers, and teen drivers generally pay the most. So, how will your age affect your car insurance cost? Read on to learn more about the average car insurance rates by age.  

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At what age do car insurance costs go down?

When teenagers first get their driver’s license at age 16, they will pay more for car insurance because insurance companies consider them high-risk drivers. Teen drivers are 4 times more likely to be in a crash than drivers 20 years old and older. This is often due to teenagers’ immaturity and likelihood to take more risks as well as their lack of driving experience.1   As you get older, your car insurance rate typically decreases, since you gain driving experience and are less likely to cause an accident. However, the age at which car insurance goes down is different for females and males.2 

At what age do car insurance costs go down for females?

The average female driver will see their car insurance rate decrease around age 20. By age 25, they will see the most significant percentage decrease in the cost of auto insurance.

At what age do car insurance costs go down for males?

Like females, male drivers will also see their car insurance rates drop around age 20. However, males pay more for car insurance overall than females, indicating that car insurance companies consider male drivers to be higher risks than female drivers. So while 20-year-old males will pay less than they did as a teenager, they will still be paying a national average of 10% more than their female peers.

However, the size of this difference changes with age as well, so by age 25, males only pay around 2.5% more than females nationally.

A breakdown of car insurance by age

When it comes to car insurance, there are many factors that determine your rates. Because age plays a significant factor in the cost of car insurance in most states, it’s important to understand how your age will impact the price you pay for car insurance.3
Young teen driver

Car insurance for teens

Teenage drivers between the age of 16 and 19 are generally considered the highest-risk drivers for insurance providers to insure. That means their age group also pays the most for auto insurance coverage, with the national average car insurance cost for teens exceeding $3,000.4

However, some insurance companies provide discounts on car insurance for teenagers, making them more affordable options for families with teen drivers.

Here are some of the most common discounts to look for when researching car insurance for teens:

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Teenagers in high school, college, or a vocational program may qualify for discounts if they have at least a B average in their classes. 

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Some car insurance companies offer discounts for teenagers attending college at least 100 miles away from their home. 

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Sometimes, insurance companies will offer a discount if a teenager goes through a Driver’s Education course.

These discounts typically apply to car insurance for students that are 17 or 18 years old as well.  

It’s important to note, however, that other factors in addition to age can impact your car insurance rates for teens, including the state you live in and the car you drive.

One of the best ways to be confident that you have the best insurance for a teenager is to compare car insurance quotes from multiple providers, since this will take into account their age and all other contributing factors.

For a deeper look into car insurance for teens, visit one of the guides below to see data, insights, and recommendations specific to the age you’re most interested in:

Car insurance for young adults

Once a driver reaches age 20, the cost of car insurance slowly decreases until they are 25, when they see the most significant price drop related to age. However, the best car insurance for 20-year-olds will also offer competitive rates and discounts.  

Here are some of the most common discounts to look for: 

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20-29 year old drivers in college or a vocational program may qualify for discounts if they have at least a B average in their classes.

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20-29 year olds attending college at least 100 miles away from their home may be able to receive a discount on car insurance. 

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Some car insurance companies offer Safe Driver Discounts, also known as Good Driver Discounts. These discounts are based on a driver’s record and are typically granted when a driver doesn’t have significant at-fault accidents, claims, or points. Some car insurance companies also offer discounts to those who agree to use devices that report on their driving to prove their safe driving skills.

Car insurance for 20-year-olds continues to drop in price until a driver reaches age 25. During this time, young adults can typically find auto insurance discounts to make their premiums more affordable.  

However, it is important to note that insurance prices are impacted by more factors than just your age, including other demographic information and the car you drive. To find the best car insurance, compare quotes from multiple providers to find an affordable policy for you. 

For a deeper look into car insurance for young adults, visit one of the guides below to see data, insights, and recommendations specific to the age group you’re most interested in:

Car insurance for 30-year-olds

Drivers with clean driving records may see a slight drop in their car insurance rate once they turn 30. Often by age 30, other factors – such as credit score, homeownership, and insurance history – might impact your car insurance rate as much as your age does, depending on provider. 

Drivers in their 30s can also typically benefit from car insurance discounts to receive an even better rate. When choosing the best car insurance for 30-year-olds, be sure to ask about Safe Driver, Defensive Driver, Accident-Free, and Low Mileage Discounts that may be available. 

Car insurance for 40-year-olds

At age 40, drivers may see a slight decrease in the cost of car insurance once again. However, the older you get, the longer your driving record becomes, so it may become a more important factor when car insurance companies determine your rate.  

For example, a driver with a good driving record may be eligible for discounts to decrease their car insurance cost even further. On the other hand, 40-year-old drivers with a poor driving record may find themselves paying more for auto insurance at this age than they had previously. 

Car insurance for 50-year-olds

The average cost for car insurance for 50-year-olds is slightly less expensive than 40-year-olds. Although drivers may have been with their insurance provider for a while by this age, it’s always a good idea to compare rates.  

Some car insurance companies may provide better discounts on auto insurance for 50-year-olds than others, so compare rates to find the best car insurance for you.  

Car insurance for senior drivers

In general, drivers will pay the least for their premiums in their 60’s than they have before. However, the cost of auto insurance increases slightly for elderly folks and seniors over the age of 70 because car insurance companies consider them riskier drivers due to age-related impairments such in vision, cognition, and motor skills.5 

Learn more about the best car insurance for seniors

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