What age do you get cheaper car insurance?

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Asked March 16, 2016

1 Answer


While there are obviously a few major factors that can significantly influence your overall insurance rate, the biggest factor dealing with age starts to occur at roughly age 25. Not only is this the time when you can rent a car and start to see more responsibility in the world (welcome to adulthood), but you are also seen as someone with between half of a decade and a full decade worth of experience.

Car driving is a simple idea that most people don't think about from a risk point of view. But, when you consider the fact that you are propelling hundreds or thousands of pounds of metal and explosive fuel forward at speeds up to one hundred miles per hour, it can be a fairly significant eye opener. When you hit around twenty five years old, it is assumed you are not only more mature but you also have more experience behind the wheel. Both of these factors make you less of a risk, and that's why actuaries will charge you less for your insurance.

Insurance risk evaluation is difficult to know as well. When you consider that a policy with one million dollar limits is actually the amount that the company is legally obligated to pay out in a worst case scenario point of view, it starts to make sense why you wouldn't trust one million dollars worth of damage in the hands (or feet) of a teenage who hasn't graduated high school yet. However, as an individual continues to transition and becomes mentally and emotionally older throughout the process of aging, the insurance companies are more likely to drop rates quicker as you continue to age.

Every company may quote just a bit differently, but when you hit roughly twenty five you should start to see it on your bill.

Answered March 17, 2016 by IntricatelySimple

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