Age Groups That Pay The Least For Auto Insurance

Motorists are legally required to possess auto insurance to operate a vehicle. If a regrettable car accident transpired, an auto insurance company would help pay for any injuries or damages that resulted from the misfortune. Additionally, auto insurance may help cover the expenses of repairing or replacing your vehicle if it is either damaged or stolen. Car insurance rates are determined by many factors. Some determinants for car insurance rates are a driver’s credit history, occupation, gender, area of living, and the make and model of a motorist’s vehicle. However, another vital determiner is a driver’s age. Drivers between the ages of 50 and 65 generally receive the preeminent auto insurance premiums available on the market.

Auto insurance companies usually divide drivers into three categories to ascertain the amount that they will charge in premiums. Provided that they own a good driving history, auto insurance premiums are the least costly for drivers in the age group of 26-73. Drivers in the 26-73 age group receive reduced auto insurance premiums because they are experienced motorists that have proven over time that they can operate a vehicle in a safe manner. On the contrary, individuals in the 16-25 age group pay the highest premiums because they are inexperienced drivers that are deemed high risks on the road. Statistics indicate that drivers in the 16-25 age group are accident prone and they have historically filed the most insurance claims. Sandwiched between the 26-73 and 16-25 age groups are drivers age 74 and above. These drivers will face premiums that are a tad lower than the most risky 16-25 age group. Drivers 74 and above are considered minimal risks to auto insurance companies because some of their reflexes behind the wheel may have diminished with age.

Personal auto insurance is mandated to lawfully operate a motor vehicle. Auto insurance premiums can be quite expensive in some instances. To locate the most affordable personal auto insurance, drivers are strongly advised to seek the best insurance quote that they possibly can. Conducting research and shopping online are simple ways to find the most economic auto insurance premiums obtainable. With due diligence, online consumers can discover the foremost auto insurance premiums offered.

Many factors are considered when an agent establishes an auto insurance quote. Unfortunately for some motorists, age is of primary importance to auto insurance companies. Young and inexperienced drivers are viewed as liabilities on the road. Conversely, elderly persons are also reckoned to be perilous drivers on the road. Data has shown that drivers between the ages of 26-73 are the safest individuals to operate a motor vehicle. In particular, dependable drivers between 50 and 65 are offered the lowest auto insurance quotes.

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