Average Car Insurance Rates by Age & Gender | The Motley Fool

How much do auto insurance rates vary by age?

good car policy companies are not looking to sock it to young drivers, but it ‘s unmanageable to overestimate the rate of experience. According to the Centers for Disease Control ( CDC ), adolescent drivers between the ages of 16 and 19 are about three times deoxyadenosine monophosphate likely as drivers over 19 to be in a black collision. As the board showing median car insurance cost by old age indicates, older drivers benefit by paying lower premiums. Our findings show that the average national pace for a adolescent driver is barely shy of $ 6,000 per class, or $ 500 a month. even the cheapest car insurance for teens is much higher than the rates quoted for more experience drivers. That said, these numbers reflect the cost of a adolescent having their own car indemnity policy. It ‘s less expensive to keep them on their parent ‘s policy. And if the adolescent in question gets good grades or is away at college, discounts on car insurance can help drive the price down. While car insurance rates are significant, they pale compared to the gamble of losing a child. For parents with a adolescent at home, it ‘s important to know when adolescent drivers are at the greatest risk :

• Nighttime and weekends: Per the CDC, 40% of motor vehicle deaths among teen drivers and their passengers occur between 9 p.m. and 6 a.m. Meanwhile, 52% occur on Friday, Saturday, or Sunday.
• Teens and young adults have the lowest seat belt use rates of all drivers, a fact that increases their risk of injury if an accident occurs. Among teens who died in car crashes in 2019, almost half were not wearing a seatbelt at the time of the crash.
• Distracted driving can be deadly. According to a Youth Risk Behavior Survey, 39% of U.S. high school students reported texting or emailing while driving.
• Speed kills. Results show that 30% of male drivers between the ages of 15 and 20 and 18% of female drivers of the same age were speeding when involved in a fatal crash.
• Alcohol plays a role. In 2019, of the 15- to 20-year-olds who died in car accidents, 24% had a blood alcohol concentration (BAC) of 0.01 or higher, and 82% of those drivers had a BAC of 0.08 or more.

There is no denying that car indemnity for an 18-year-old is expensive. But whether or not a rear decides to keep their child on their insurance policy, parents should go over these gamble factors with their young drivers .

How does gender affect your car insurance rate?

here ‘s a sober think regarding sex and driving habits : An Insurance Institute for Highway Safety ( IIHS ) study showed that in closely every year from 1975 to 2019, men died in car accidents doubly a much as females. In 2019, 71 % of all car crash deaths were male.

placid, it does not constantly hold true that men pay more for car indemnity than women. While young males pay importantly more than young female drivers due to the statistical odds of a male being involved in an accident, men either pay the like rate as women or slenderly less by the clock time they ‘ve hit middle historic period. And by the time they ‘re old enough to begin shopping for car indemnity for seniors, women are frequently storm to learn that they are expected to pay more.

The reason women end up paying more at any point is unknown. In fact, some states have started to take steps to eliminate gender as a rate consideration. Unless there is a statistical reason to believe one sex is involved in more accidents than the early, it makes no sense to charge one more. Things may be changing already. When we compared the average price to insure a 35-year-old female against the price to insure a 35-year-old male, there was only a $ 26-a-year deviation, with females paying slightly less. Given the swerve number of good car insurance companies included in our analysis, $ 26 per year ( or $ 2.16 per calendar month ) may be as conclude to even as is fair to expect. Today, when one looks at median car policy rates by age and gender, it ‘s easy to see that old age makes a much bigger difference than sex .

Average car insurance rates by age and gender

As the cable car policy rates by age chart showed, unseasoned drivers pay more for insurance than older drivers with uninfected drive records. What ‘s interesting is how different combinations of circumstances impingement rates. For case, how do the rates of a young driver with a cleanse drive record comparison to the rates of a middle-aged driver with an accident on their record ? here, we ‘ll look at the average national rates for different age and gender combinations .

Car insurance for 35-year-old male and female