Who typically pays the highest auto insurance premiums?
Younger drivers typically pay more for auto insurance. The highest rates are assigned to drivers between the ages of 16 and 25. Experienced drivers receive lower rates until about age 55, when rates rise slightly again.
What factors influence the rate someone pays for their car insurance?
- Age. Age is a very significant rating factor, especially for young drivers.
- Driving history. This rating factor is straightforward.
- Credit score.
- Years of driving experience.
- Insurance history.
- Annual mileage.
What drives the cost of insurance?
Some factors that may affect your auto insurance premiums are your car, your driving habits, demographic factors and the coverages, limits and deductibles you choose. These factors may include things such as your age, anti-theft features in your car and your driving record.