Which age group pays most car insurance?
Asked by: Braden Rath | Last update: January 17, 2026Score: 4.9/5 (57 votes)
What age pays the most for car insurance?
Car insurance rates are highest for teens and seniors, on average, because they are considered high-risk due to an increased likelihood of accidents and expensive claims.
What group pays the most for car insurance?
While adult men and women pay about the same amount for car insurance, the gap changes as drivers get older. While all teens pay more for car insurance than older adults, teenage boys pay the most of all.
At what age do car insurance rates drop?
The biggest drop is typically from 18 to 19, when the average rate drops by around $1,595. Car insurance typically drops as you grow older, when you drive safely for three to five years following an accident or citation, and when you switch to a cheaper company.
Why do younger people pay more for auto insurance?
Younger drivers are less experienced and are more likely to cause an accident. There are tons of studies and statistics on this. That's why their insurance rates are higher.
At What Ages Does Car Insurance Go Down? - Car Performance Pros
Why is insurance so expensive for a 19 year old?
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.
Do cars get cheaper to insure as they get older?
In general, auto insurance for older cars may be cheaper than insuring newer vehicles of the same make and model if the used car is cheaper to repair or replace. A car depreciates in value over time, which lowers the maximum amount an insurance company would have to pay in the event of an accident.
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.
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.
Does car insurance go up at age 70?
Seniors: While retirement brings plenty of perks, lower car insurance rates aren't one of them. As drivers approach 70, age-related factors like slower reaction times and vision changes can increase the risk of accidents, leading to higher premiums.
What is the most expensive car insurance group?
Group 50 is the most expensive. The lower the car insurance group, the lower your car insurance premium is likely to be.
Which drivers generally pay more for car insurance?
Insurers generally charge more if teenagers or young people below age 25 drive your car. Your gender – Statistically, women tend to get into fewer accidents, have fewer driver-under-the-influence accidents (DUIs) and—most importantly—have less serious accidents than men.
What company will pay the most for your car?
Cars.com, Carvana, Peddle, and CarMax are some of the best places to sell a car online. Peddle is good for junk cars, Carvana is the most convenient, CarMax offers top value, CarGurus has a strong platform, and Vroom has an easy selling process.
Which group pays the most for 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.
What age group has the cheapest car insurance?
On average, drivers will see their premiums begin to fall around age 25. This reflects the lower risk posed by drivers in their mid-20s as they gain driving experience and maturity, compared to a 17-year-old who has just passed their test.
What is the cheapest car insurance for seniors over 60?
Nationwide — the most affordable company for seniors
At $77 a month, Nationwide is the cheapest car insurance company for drivers in their 60s and can cover all of your bases when it comes to coverage.
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.
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.
What age do insurance rates go up?
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.
When should you drop full coverage on your car?
For example, you might want to drop comprehensive coverage if: You park your car in the garage and protect it from animals, falling objects, and severe weather. You plan to replace your car next time it needs big repairs. Your car is worth less than the deductible on your comprehensive coverage.
What is the best insurance for old cars?
We've determined Hagerty, American Collectors, Grundy, Chubb and Safeco are among the best insurance companies for valuable older vehicles.
Why is my insurance so high on an old car?
Although they may have a lower value, older cars may also have expensive parts that could make repairs expensive. The older a car gets, the harder it may be to source these parts for repair, which can also drive up the cost of car insurance for older cars.