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Your insurance rate is partly based on your age. Find out why age matters and at what age you can pay the most and least for car insurance.
Car Insurance Rates For Teens
Laura is an award-winning editor with content and communications experience covering auto insurance and personal finance. He has written for various media, including the USA Today network. He most recently worked in the public sector for the Nevada Department of Transportation.
Top 15 Factors That Affect Car Insurance Rates
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Car insurance rates are based on various factors, age being one of the most important. After all, according to the CDC, teen drivers between the ages of 16 and 19 are nearly three times more likely to be involved in fatal crashes than drivers who are 20 or older.
The average cost of car insurance for people under 25 years old is relatively high. Teenagers and young drivers are mostly inexperienced behind the wheel and are more prone to accidents, which poses a high risk to car insurance providers. Higher risk equals higher rates.
The editors have broken down the average cost of car insurance for ages 16 to 75 in each state. Here’s what you can expect to pay for car insurance at any age.
How To Find Cheap Car Insurance For Teens
California motor insurance rates by zip code Enter zip code average rate. Then enter age, gender and level of coverage for a custom rate.
State Minimums: The liability coverage required to drive legally in your state. Some states require additional coverage such as personal injury protection, uninsured motorist, underinsured motorist coverage. 50/100/50 Liability Only: $50,000 per person / $100,000 maximum per accident for bodily injury. Pays $50,000 in financial damages for liability for injuries/damages you cause to others. Full coverage 100/300/100: $100,000 per person/$300,000 maximum per accident for bodily injury. $100,000 for financial damages; Comprehensive coverage and dealing with a $500 deductible. Liability pays for injuries/damages you cause to others. Comprehensive and accident pays for the damage to your car.
Quadrant Information Services has commissioned a report on the average car insurance rates for the 2017 Honda Accord for nearly every zip code in the United States. We calculated rates using data from up to six major carriers. The default result averages are based on a 30-year-old male driver’s monthly insurance for state-required minimum liability coverage. Average custom rates are based on age and gender of drivers for the following coverage levels: minimum liability determination, 50/100/50 and 100/300/100 liability with a $500 deductible on comprehensive and collision. These supposed drivers have clean records and good credit. Average rates are for comparison purposes. Your own rate depends on personal factors and your vehicle.
In the graphs below, you can see the average car insurance rates based on age for the following coverage sets:
Guide To Adding Your Child To Your Car Insurance
As you can see in the car insurance rates by age chart below, rates are cheapest for drivers in their 40s, 50s, and 60s. The average cost of car insurance for teenagers is high, but decreases by the age of 20.
Once you hit your 20s, your rates start to drop, but you’ll still be paying more than most drivers until you’re 26. The charts below show average car insurance costs by age for standard coverage packages when your teenage years are in the rearview mirror.
For a 20-year-old male, the cost is $1,159 per year. For a female driver, the same policy can cost an average of $1,058 per year for the state’s minimum policy. Here is a breakdown of insurance rates for different levels of coverage:
For a 21-year-old male, the average cost is $917 per year, and for a female driver, the same policy can cost about $850 per year for the state minimum policy. See the chart below for a breakdown of insurance rates for different levels of coverage:
Cheap Car Insurance In Pittsburgh, Pa.: Affordable Rate (2023)
For a 22-year-old male, the average cost is $819 per year, and for a female driver, the same policy can cost about $769 per year for the minimum state policy.
For a 23-year-old male, the average cost is $755 per year, and for a female driver, the same policy can cost about $717 per year for the minimum state policy. See the chart below for a breakdown of insurance rates for different levels of coverage:
For a 24-year-old male, the average cost is $705 per year, and for a female driver, the same policy can cost about $676 per year for the state minimum policy. Here is a breakdown of insurance rates for different levels of coverage:
The cost between a woman and a man is about the same at age 25, $612 a year for men and $605 a year for women for the state policy minimum. Here is a breakdown of insurance rates for different levels of coverage:
Tips To Reduce Teen Driver Insurance Rates
See the chart below for average car insurance costs by age and state for full coverage. Enter your state in the search box to see what you can pay.
Select your state below to see average auto insurance rates by age for a full coverage policy
Age is only one factor that car insurance companies consider when deciding how much you will pay. Gender is another, although some states do not allow gender to be used as a factor in calculating rates – California, Hawaii, Massachusetts, Michigan, North Carolina and Pennsylvania.
Each rating factor, along with the type of coverage you choose, excesses and discounts, will affect the rate you pay for your car insurance policy.
Finding The Cheapest Car Insurance For Teens
Regardless of age, male or female, you can save hundreds of dollars by comparing car insurance companies and finding the one that offers the best rate for you. Our guide to the best cheap car insurance for seniors shows how much drivers aged 65, 75 and 85 can save.
Car/home package discounts averaged 13 percent savings, and for younger drivers, out-of-home student discounts averaged 16 percent savings. A good student discount saves drivers an average of 14%, and the discount for being married is 8%.
Senior managers can also cut costs. Drivers over the age of 65 who have completed a senior driver training course can save an average of 4%.
Quadrant Information Services determined auto insurance rates for the 2022 Honda Accord LX at various levels of coverage for a driver with a clean driving record in all zip codes in every state.
Cheap Car Insurance For Teens And Young Drivers
Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience, first directly in the insurance industry at Farmers Insurance and then as a writer, researcher and insurance buyer trainer, writing and managing content for websites such as ExpertInsuranceReviews. .com and InsuranceHotline. .com, now at .
Nupur Gambhir is a content editor and life, health and disability insurance specialist. He has extensive experience bringing brands to life and has created award-winning travel and technology campaigns. His insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and The End-of-Life Planning Service.
✓ Thank you, your message has been received. Our team of car insurance experts usually respond to inquiries within five business days. Note that due to the volume of questions we receive, not all may be answered. Due to a technical error, please try again later. The average monthly cost of car insurance for 17-year-olds is $489, which comes to $5,864 per year. Car insurance for a 17-year-old is cheaper than a 16-year-old just hitting the road, but it’s still more expensive than most drivers pay for coverage.
COUNTRY Financial has the cheapest car insurance rates for 17-year-olds, while State Farm is the cheapest provider nationally for 17-year-old drivers. Both companies offer auto insurance coverage for 17-year-olds that is thousands of dollars cheaper per year than average.
How Much Is Car Insurance For A 16 Year Old?
The average cost of car insurance for a 17-year-old is $489 per month. Because of their less experienced drivers compared to older adults, we found that 17-year-olds pay $4,212 more per year than mature drivers (ages 30, 35, and 45).
It is still possible to get cheap car insurance for 17-year-olds. We found COUNTRY Financial has the lowest average car insurance rates for 17-year-old drivers. Because COUNTRY doesn’t work everywhere, State Farm has the cheapest rates for 17-year-olds among the major auto insurance companies.
The difference in cost between the company with the cheapest and most expensive car insurance rates for a 17-year-old is $921 per month. This means that without comparing the cost of coverage before you buy, you risk paying thousands of dollars more than you should for coverage each year.
While car insurance is usually very expensive for 17-year-olds, it’s actually the most expensive for 16-year-old drivers because they’re completely new.
