March 17, 2010

What Age Groups Get The Lowest Average Auto Insurance Quotes

The process of looking for an auto insurance quote can be daunting. Understanding the factors that contribute to the cost of insurance can be helpful. You may wonder, for instance, how your age influences the car insurance quotes you are getting from different companies. Insurance costs are set by a combination of factors, including gender, location, driving record, and the type of car you drive. An auto insurance premium also takes into consideration the age of the driver. However, it is not just because a driver is a certain age that he or she has a higher or lower rate for auto insurance. Insurance companies use statistics of how many accidents each age group averages to set an auto insurance premium. The companies want to minimize their losses, of course, and using statistics on safe driving can help them to do that. If you are in a high-risk group, this process can seem unfair, but it actually makes a lot of sense. Insurance companies protect their interests while they also protect yours by insuring as many drivers as they can.

For a number of reasons, drivers under 25 tend to have more accidents and, therefore, have the highest average car insurance quotes. At the other end of the scale are drivers between the ages of 50 and 65 who tend to have the fewest accidents. These are the drivers who will likely get the lowest auto insurance quotes. Drivers of other ages fit somewhere along the cost continuum. Senior citizens tend to have slightly more accidents, so auto insurance costs tend to be higher after the age of 65.

You have to keep in mind, though, that your age, in combination with other factors, can make a big difference in your car insurance quotes. For instance, an unmarried male under 25 years of age has a much higher auto insurance premium than does a married man of the same age. Women under 25 years of age also have lower rates, but changing your marital status is easier than changing your sex!

There are things that are in your control and that can influence the cost of your auto insurance. The fewer accidents you have, the more favorably insurance companies will view you. Insurance companies value safe drivers and reward you for being a responsible driver. Always check with several auto insurance companies to get quotes. Different companies weigh generally favorable or unfavorable factors in different ways. Their different formulas can result in large savings for drivers of any age. Spending a little time online or on the phone speaking with agents, can make a difference in how much you pay for auto insurance.