There is a large amount of evidence that insurance companies use to make their price ratings. Typically, drivers under the age of 25 and over the age of 70 pay more for auto insurance. According to insurance companies, these drivers are in a higher risk category.
As for teen drivers and new drivers, their insurance rates are typically much higher than other drivers; this is because statistically, they are found to be less safe than more experienced drivers. Teenagers typically drive much fewer miles than most adults, but they also have much higher crash and death rates. Teens also have a greater tendency to speed, not realize the seriousness of a situation, follow too closely, and not wear their seatbelts.
Senior drivers, over the age of 70, typically have higher insurance rates due to impaired vision, poorer cognitive function, changes in physical function, and use of prescriptive medications. All of these things lead to higher costs of insurance. There are a few things seniors can do to maintain a reasonably priced insurance rate. Maintaining a clean driving record, taking a defensive driving class, changing the primary driver on your policy if you don’t drive often, and looking at senior car insurance discounts are all ways you can maintain affordable rates.
If you have any questions regarding your insurance rates and how age affects insurance, do not hesitate to contact an agent at Community Insurance.