Average auto insurance rates by age and sex

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Your age is one of the main factors in your auto insurance rates. Young male drivers tend to pay the most for auto insurance, with 18-year-old men paying an average of $ 5,650 per year for full coverage, according to data retrieved from Quadrant Information Services. In contrast, 40-year-old women pay some of the lowest auto insurance premiums, with an average cost of $ 1,532 per year for full coverage. For comparison, the national average annual cost of auto insurance in the United States is $ 1,674.

Although some states prohibit the use of gender as a rating factor, in most states your gender also plays a role in determining your rate. Bankrate has researched average auto insurance rates for different age groups and organized them by gender to help you understand how your personal pricing factors affect your premium.

Average auto insurance rates by age and sex

When determining your premium, your age plays an important role in how much risk an insurance company attributes to your driving habits. Due to their inexperience, younger drivers tend to have more accidents than older drivers. In many states, gender also plays a role in how much you pay for auto insurance, with men tending to pay higher rates due to an increased likelihood of accidents.

However, auto insurance costs vary due to several factors. The price you pay will reflect both your age and gender, but also the condition you live in, your personal driving history, and the types of coverage you choose.

The auto insurance rates by age and sex shown in the table below are national average annual rates for full coverage. While the rate you’ll pay will vary, these numbers can give you an idea of ​​what to expect.

Average annual premium for fully insured automobile insurance by age and sex
Age Average rate for men Average rate for women
16 years old* $ 2,783 $ 2,280
17 years* $ 2,612 $ 2,141
18 years old $ 5,650 $ 4,844
19 years old $ 4,487 $ 3,807
20 years $ 4,098 $ 3,492
21 years old $ 3,166 $ 2,769
22 years old $ 2,913 $ 2,578
23 years $ 2,733 $ 2,446
24 years $ 2,590 $ 2,332
25 years $ 2,183 $ 2,038
30 years $ 1,869 $ 1,832
35 years $ 1,813 $ 1,790
40 years $ 1,748 $ 1,532
50 years $ 1,601 $ 1,591
60 years $ 1,552 $ 1,537
70 years $ 1701 $ 1,670

* Rates for 16 and 17 year olds reflect the additional cost of their parents’ policy with the addition of the teenager.

How age affects your auto insurance rates

When you analyze the average auto insurance rates by age, you may notice a trend. Coverage is relatively expensive initially for adolescents and young adults. Over the years, premiums generally decrease as drivers gain more driving experience. But as drivers reach their third years of age, premiums can go up. In general, this is due to the risk factors associated with each age group.

  • Teens: Teenagers are considered some of the riskiest drivers to insure. Teenage drivers are three times more likely to have a fatal car crash than older drivers. Insurers often charge more to insure teen drivers to offset the higher costs associated with teen driving claims.
  • Adults: The cost of auto insurance coverage generally begins to drop by the time a driver reaches their twenties. At age 25, drivers could notice a fairly significant reduction in their premiums. Throughout adulthood – provided drivers have a history of safe driving and few insurance claims – premiums generally continue to decline as drivers gain more experience.
  • Elders: Unfortunately, the downward trend in insurance premiums usually ends when drivers reach the age of 70. Factors related to aging such as vision or hearing loss and slower response time could make older people more likely to have accidents. However, even though seniors may see their insurance premiums go up, they are unlikely to start paying the high rates for teenage drivers again, assuming their driving records are clean.

Most insurers understand that auto insurance can be expensive for certain age groups and offer discounts to help lower those premiums. Common discounts for young drivers include good discounts for students and discounts for driver training. Senior drivers can often get discounts for company loyalty or membership in organizations such as AARP.

How Gender Affects Your Auto Insurance Rates

In most states, gender is used as a scoring factor when determining auto insurance premiums. In general, men are statistically more likely to engage in risky driving behavior, but this does not automatically mean that men pay more than women for coverage. Whether the general premium trend shows that men pay more than women, it depends on many factors.

The condition a driver lives in and a driver’s age all affect the cost of auto insurance. For example, a 60-year-old man in Arkansas pays an average of $ 46 more per year for full coverage than a woman of the same age, but a 40-year-old man in Florida pays an average of $ 36 less for full coverage. than a 40-year-old woman.

There are currently seven states that do not allow the use of sex as an assessment factor: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, and Pennsylvania. In these states, the rates for males and females should be roughly equal if all other assessment factors – like age, type of vehicle, driving history, etc. – are the same.

Frequently Asked Questions

How do I find the best auto insurance for my age and gender?

The first step in finding the best auto insurance for your situation is determining the factors that matter most to you. Knowing whether you value a range of discount options or mobile tools, for example, will help you narrow down the list of auto insurance companies you might want to consider. Then, it may be a good idea to get quotes from several insurance companies. This way, you can compare premiums and coverage offers to find a policy that best suits your needs.

How do I get cheaper auto insurance if I’m a young driver?

Insurance companies understand that premiums for young drivers can be intimidating. Most companies offer discounts to help offset these costs, including good student discounts and driver training discounts. Maintaining safe driving habits can help keep your driving record free from tickets and accidents, which can also help keep costs down.

Besides age and gender, what factors do insurers use to set my premium?

Insurance companies take a number of factors into account when determining premiums. Each company has their own method, but you can usually expect companies to look at your annual mileage, vehicle, driving record, the coverages you choose, and in some states, your credit score.

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on male and female drivers ages 16 to 70 with voucher driving record, good credit and the following comprehensive coverage limits:

  • $ 100,000 liability for bodily injury per person
  • $ 300,000 in civil liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.

These are sample rates and should only be used for comparison purposes.

Age: The rates were calculated by evaluating our baseline profile with ages 16-70 (baseline: 40) applied. Depending on the age, drivers can be renters or owners.

Kind: the following states do not use gender as a determining factor in calculating premiums: California, Hawaii, Massachusetts, Michigan, Montana, North Carolina, Pennsylvania.

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