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- Age is a top factor that insurers look at when deciding how much you’ll spend on car insurance every year. The reason young people pay more for car insurance is that they’re less experienced and more likely to get involved in a car accident than people older than 26.
- Insurance companies use statistics to assess the risk factors that a person will get into an accident or file a car insurance claim. As people get older, their auto insurance rates are affected by the time they have spent on the planet.
Influence of Driving Experience
- Inexperienced drivers generally pay more for insurance. Generally, the more driving experience you have, the less likely you are to get in a collision all other things begin equal. If you have a long history of safely driving on city roads, then the insurance company is going to look at you more favorably than someone who has 2 years of safe driving experience.
- Their car insurance premium will be declined regardless of age if they drive safely, don’t use their insurance for minor repairs, and install safety devices.
Age-Related Discounts and Benefits
- Many insurance providers offer discounts to drivers over the age of 50 who have a clean driving record.
- Some insurance companies may offer discounts for drivers who are over the age of 25 and have a good driving record. In order to get the best rate, it’s important for young drivers to shop around and compare prices. Some insurance companies may offer discounts to students who maintain good grades, or offer lower rates for those who have completed a driver’s safety course. By taking the time to compare quotes, young drivers can find the best rates available.
