What age is the most expensive car insurance?
Asked by: Dominique Hammes | Last update: November 12, 2025Score: 4.1/5 (7 votes)
At what age is car insurance the cheapest?
Experienced drivers are less likely to have accident claims, which means they cost less to insure. At Progressive, the average premium per driver tends to decrease significantly from 19-34 and then stabilize or decrease slightly from 34-75. At age 75, the average premium begins trending upward.
Why is insurance so high for a 20-year-old?
Insurance is about assessing risk. Young drivers have less experience, which puts them in a higher class of risk for insurers. As a result, car insurance rates for a 20-year-old are higher than those for a more experienced driver, though a 20-year-old driver is still less expensive to insure than a teen.
At what age do auto insurance rates go up?
Ages 70 to 80: Once drivers hit their mid-70s, car insurance rates typically go up, as this age bracket has an increased risk of being in an accident. Older individuals are also more prone to injuries if a car accident does occur, which can lead to costly medical expenses and other bills.
Is insurance more expensive for 22 year olds?
Even just a few extra years of driving experience can qualify you for lower premiums. An 18-year-old driver will pay an average of $3,000 more per year than a 22-year-old driver. The cost for a 25-year-old driver will decrease by an average of $1,000 from what a 22-year-old pays for insurance.
Insurance: Top 5 Cheapest & Top 10 Most Expensive Car Brands to Insure
Why is my insurance so high at 23?
Auto insurance companies view young adults as riskier to insure than older drivers since they do not have as much experience behind the wheel and have a greater accident frequency rate than older adults. To account for the added risk of insuring a younger driver, many insurers charge higher rates.
How much is car insurance for a 23 year old per month?
How much does car insurance cost for 23-year-olds? The average cost of car insurance for a 23-year-old is $237 per month for full coverage. Erie has the cheapest full coverage car insurance for 23-year-olds, at $155 per month. Erie offers rates that are 17% cheaper than an average insurer.
What age is most expensive to insure?
Key takeaways. 18-year-old drivers on their own policy pay the highest car insurance premiums out of the age groups Bankrate analyzed. The most significant difference in premiums by gender occurs at age 18. On average, 18-year-old males cost 9 percent less to insure than their female counterparts.
Does credit score affect car insurance?
How credit-based insurance scores work. Most U.S. insurance companies use credit-based insurance scores along with your driving history, claims history and many other factors to establish eligibility for payment plans and to help determine insurance rates. Again, except in California, Hawaii, and Massachusetts.
Which gender pays more for car insurance?
On average, young men pay much more for car insurance than young women. This is because car insurance providers find men to be riskier drivers than women, especially when they are younger. When they are older, women start to pay slightly higher rates.
Who normally has the cheapest car insurance?
Geico, Nationwide and Travelers are among the least expensive for car insurance. Americans are paying a lot for car insurance these days: Average annual rates for a full coverage policy are up to $2,638 per year, while minimum coverage averages $767 per year.
Can you get full coverage on a 20 year old car?
Yes. Full coverage is available for older cars. However, if your older car has a low market value, you won't get much from the insurance company if it's totaled or stolen. This is the main reason to drop full coverage for an older car with a low resale value.
At what age does insurance stop being expensive?
States Where Age Does Not Affect Rates
In the following states, insurance companies cannot take age into account when calculating insurance premiums: California.
What age group has the highest car insurance?
Young drivers ages 16 to 24 tend to have the most expensive car insurance. Drivers in this age group are often inexperienced and are more likely to get into car accidents and file insurance claims. As a result, car insurance companies often charge higher premiums to young drivers.
How much do rates drop when you turn 25?
The national average full coverage premium for 24-year-old drivers on their own policy is $3,391 annually. Considering the national average rate for a 25-year-old driver — $3,251 for full coverage — the average premium difference you might see between birthdays is 11 percent less per year.
Do single or married pay more for car insurance?
Does being married get me better car insurance rates? Yes, married couples typically pay lower premiums than single people. In general, insurance companies view married people as financially stable and safer drivers.
Does State Farm run your credit?
Most major car insurance companies like GEICO, Progressive and State Farm factor in your credit score when giving you a quote. Some smaller, regional insurers skip credit checks, though their coverage options (and available online information) can be limited.
What is a good credit score?
For a score with a range of 300 to 850, a credit score of 670 to 739 is considered good. Credit scores of 740 and above are very good while 800 and higher are excellent.
Does having bad credit make car insurance more expensive?
Drivers with poor credit (a credit score under 580) pay 97% more, on average, for full coverage car insurance premiums than do their counterpart drivers with exceptional credit (a credit score above 800), according to a study by Bankrate.
At what age does car insurance go up for seniors?
That said, based on Progressive's data on how age impact insurance rates, car insurance for seniors typically only starts increasing at age 75+. Even then, the average 75+ premium is still lower than premiums for the 45–49 range.
Why is insurance so expensive for a 19 year old?
The lack of experience and driving history plays a major role in determining insurance rates. Young drivers are seen as more prone to accidents due to inexperience, making them riskier clients for insurers. This can result in higher premiums and even difficulty obtaining insurance coverage.
At what age is car insurance cheapest?
Both male and female drivers see the biggest drop in average annual car insurance premiums between the ages of 18 and 19. This is because younger drivers are seen by most auto insurance companies as riskier to insure due to their overall inexperience behind the wheel.
What is a good 6 month premium car insurance?
The average 6-month car insurance premium is $947 per year, but some insurers offer lower rates; Nationwide offers 6-month car insurance at $774.
Why is car insurance so expensive for 25 year olds?
Young drivers have less experience, which makes them high risk, making their auto insurance premiums more expensive. Motor1 reports that the average cost of car insurance drops with each year of driving experience. For example, a 16-year-old driver pays an average of $6,912 per year.
Is car insurance cheaper if you own the car?
Is car insurance cheaper if you own your car? Car insurance premiums don't automatically go down when you pay off your car, but you can probably lower your premium by dropping coverage that's no longer required.