Most people know that drivers in their youth and in the early 1920s pay some of the highest car insurance premiums. However, with age it may turn out that car insurance is gradually decreasing to more affordable premiums. Does car insurance go down at 21?
In general, car insurance premiums decrease with age, decreasing after the age of 25. The theory is that you become a more experienced driver and you are less likely to claim. As long as you keep your driving record clean, your car insurance premiums should gradually fall from 20 to 25 years.
The more experience you have, the less you can expect to pay for car insurance. For example, if you received your driving license on the day you were 16 and kept a clean record, you may notice a significant decrease in premiums after you are 21 years old. If you have obtained a driving license at the age of 18, by this time you only have three years of driving experience, you will be 21 years old, so the premium decline may not be as significant.
Do you want to save today?
If the above information surprised you, don’t worry. There are several ways to lower your car insurance rate regardless of age.
The first thing you can do is call your current insurer or agent and ask you to check your policy to see if any missing or missed discounts (good driver, good student, hybrid discount, etc.) are missing.
If the answer to this question is ‘no’, ask to purchase the policy from many different carriers. This only works if you have an independent insurance agent.
Assuming you use an agent in captivity, you’ll only be able to lower your bonus by reducing range or increasing your deduction, which is not recommended.
So if you’ve just turned 21, look around and take advantage of several insurance offers to make sure you get the best deal.
Gender also plays a role
Age is not the only physical factor affecting car insurance rates. Women usually pay less for car insurance than men.
This is not a form of discrimination, but recognition of the statistical fact that men are more likely to accelerate and engage in serious accidents than women, especially at a young age. Men are more likely to commit traffic offenses and also participate in driving under the influence of alcohol.
In addition to actual driving behavior, men are more likely to have cars that are considered more risky – for example, sports cars.
But despite the higher premiums that men usually pay, this result is not necessarily universal. This is most evident among young drivers between 16 and 24 years old, where male drivers will pay 15 percent or more than women. Premium rates are slightly more expensive for women aged 30 and 40. This may be due to pregnancy and the likelihood of driving with small children and the distractions they form.
As with celebrating birthdays or an offense falling from your insurance history, moving from company to company is another way to lower your auto insurance rates.