September 16, 2010

The Relationship Between Age Groups And Auto Insurance Quotes

Car insurance age groups are a major factor when getting a car insurance quote. Most people don't realize the connection between age groups and auto insurance quotes. Insurance providers analyze their risk data to figure the rates of premiums in a car insurance quote. Car insurance age groups are generally studied extensively and often times many providers isolate these car insurance age groups to directly target them in marketing for business. It is important to see the connection between car insurance age groups and car insurance quotes that exist so that the one seeking insurance can make informed choices about what will best benefit a particular insurance situation.

The highest rates among car insurance groups are those that are under the age of 25-years-old. Typically those under the age of 25-years-old are assumed to be less experienced, and statistically they have the highest liability to insurance companies. Those under the age of 25-years-old tend to have the most self caused collisions because of inexperience or just being reckless. Teen years and young adult years are times for learning lessons that are taught by questionable decision making. These lessons are reflected as high risk factors in insurance.

Another of car insurance age groups is the over 25-years-old age group. This is an ideal age group for insurance companies because people over the age of 25-years-old are normally stable and financially secure. Statistically this age group is less prone to causing collisions, unlike those in a younger car insurance group.

The final one of the car insurance age groups is the over the age of 50-years-old group. Statistics reveal to insurance providers that those who are over the age of 50-years-old are more unlikely to be involved in a claim. This is significantly less risk to the insurance company. Since the risk factor is lower, the car insurance quote sought by the client is generally lower. Rates lower as age rises, and if there is a history of safe driving, then this is the ideal group to be in if purchasing car insurance.

Car insurance age groups do exist and have a major impact on the car insurance quote. Car insurance age groups directly influence the risk factor in statistics that underwriters use to determine insurance premiums. As in most things, nothing is set in stone. If quoted high because of being part of a certain car insurance age group, then there are ways to separate one's self from the age group by proving to be the exception to the age group. Whichever of the car insurance groups an insured falls in, a thorough understanding of that age group will help in comprehending the reason for the pricing of the car insurance quote.