How you can save on your car insurance as you get older.
Drivers in their teens and early twenties get into more auto accidents than any other demographic of drivers. As a result, young drivers typically pay more for auto insurance than older, more experienced drivers. Fortunately, young drivers will see their rates drop as they get older. Here’s what you need to know about age-related car insurance savings.
- Car Premiums Decrease with Age
Most auto insurers will gradually start to drop your premiums as soon as you exit your teens. This means that drivers will start to see small rate decreases between ages 20-24, with the most significant drop happening at age 25. Please keep in mind that these rate reductions only happen if you do not get into an accident, receive a moving violation, or file a claim during this time. Auto insurers will only reward responsible and safe drivers.
- Male Versus Female Drivers
Because males are more likely to file a claim or get into an accident than female drivers, they tend to see less significant rate decreases. This is true even if the male driver has no history of reckless driving or claims. Unfortunately, young male drivers will have to wait until they turn 25 to see significant auto insurance savings.
This is what you need to know about age-related auto insurance savings. Do you have more questions regarding your car insurance? If so, then contact the experts at Pierce Insurance Group. We are ready to assist you with all your coverage needs today.