Average auto insurance rates by age group range from $716 per year for 45-year-old drivers to $3,343 per year for 16-year-old drivers. Auto insurance rates are higher for teens and older adults, on average, because they are considered high risk due to a higher chance of accidents and costly claims.
National Average Auto Insurance Rates for Key Ages
For more information on average car insurance rates by age and state, see the full tables below.
average car insurance rates by age
note: averages reflect annual costs, based on data from quadrant information services.
Each driver pays a different amount of money each year, depending on what your insurance company decides is a good cost for your risk profile. A wide variety of factors come into play, including your driving record, ZIP code, and the amount of coverage you purchase.
however, age is ultimately one of the most important factors. Its effects on auto insurance rates can be seen from state to state, with younger drivers paying the most for coverage.
average car insurance rates by age and state
Note: Averages reflect annual costs, based on Quadrant Information Services data.
Does age affect car insurance rates more than other factors?
Age isn’t the only factor that has a big impact on auto insurance rates. Fortunately, some of the others are actually under your control.
Age vs. Location: Age affects auto insurance rates more than location. Young drivers pay significantly more than older drivers, and regardless of where the driver lives, their rates will steadily decline as they age.
Age vs. Vehicle Type: Age affects auto insurance rates more than vehicle type as long as the driver is young, between 15 and 25 years old. after that, the driver’s choice of car affects his premium. more noticeably than her age. You could end up paying 70% more for car insurance than your co-worker, just because they drive a minivan and you drive a Tesla. The cost of car insurance is influenced by its safety ratings, how likely it is to be stolen, and average repair costs for that car model, among other factors.
age vs. Gender: Age affects car insurance rates more than gender. Male drivers under the age of 18 pay more than any demographic group – nearly 50% more than female teen drivers. but 16-year-olds of any gender pay an average of 80% more than older drivers. and when men and women are 30, they pay comparable rates.
Age vs. Driving History: A person’s driving history affects their auto insurance rates more than their age. even the youngest and most inexperienced drivers are not as problematic as drivers with a dui. high-risk drivers with a poor record may see a 50% to 300% increase above standard costs for their age group.
Age vs. Credit Score: A driver’s age affects their car insurance rates more than their credit score. In some states, it’s actually illegal for companies to use your credit score as a factor in your insurance costs.
how much should i pay for car insurance?
A good rule of thumb is to buy as much auto insurance as you can afford. you may be tempted to skimp and buy only the minimum auto insurance for your state. But many optional forms of auto insurance are worth considering, often providing benefits that are worth much more than the amount they add to your premium.
Comprehensive insurance and collision insurance are not required, but both are smart choices. Comprehensive insurance covers damage from non-collision accidents, such as vandalism or theft. without it, you are obligated to pay all the bills if, for example, a tree falls on your car during a storm. and collision insurance takes care of your car repair bills, even if you caused an accident. You might also consider purchasing health coverage if your health insurance has a very high deductible.
Finally, whether you’re 16 or 65, be sure to shop around for the best deal on whatever coverage you decide to buy. ultimately, this will allow you to pay higher coverage limits.