Average car insurance rates by age will vary widely depending upon the age of the driver. When all other factors are the same or equal, older more experienced drivers pay much lower car insurance premium rates than younger drivers.In order to better illustrate how age affects car insurance rates, here is a sampling of rates collected from CarInsurance.com for a 2004 Honda Civic LX. For the purposes of this comparison, the vehicle has been paid off (no loan) and has a manual transmission. The vehicle is driven an average of 40 miles per day.
Coverage for our comparison includes a full comprehensive and collision policy, that offers limits which are considered to be standard coverage limits in most states.
Police Coverage Limits
- Bodily Injury Liability Coverage: $100,000 per person, $50,000 per accident
- Property Damage Liability Coverage: $50,000 per person, $50,000 per accident
- Medical Payments Coverage: $10,000 per person, no accident cap
- Uninsured Motorist Bodily Injury Coverage: $50,000 per person, $100,000 per accident
- Uninsured Property Damage Coverage: $50,000 per accident
- Uninsured Motorist Deductible: $500
- Comprehensive Deductible: $250
- Collision Deductible: $250
Policy also includes coverage for towing and standard rental car coverage. Driver has no tickets or infractions in 5 previous years, and has average credit score.
Drivers Aged 24 Years and Younger Averages
For drivers under the age 24, rates for this automobile for a 6 month policy are as follows:
- Travelers Insurance: $1948
- Direct Insurance: $1954
- Esurance: $2339
- Safeco Insurance: $2921
Drivers Age 25 to 29
For drivers age 25 to 29, the average rates for the same 6 month coverage, for the same vehicle are:
- Travelers Insurance: $649
- Direct Insurance: $1117
- Esurance: $1200
- Safeco Insurance: $1485
Drivers Age 30 to 39
For drivers age 30 to 39, the average rates for the same 6 month coverage, for the same vehicle are:
- Travelers Insurance : $566
- Direct Insurance: $1003
- Esurance: $1147
- Safeco Insurance: $1249
Drivers Age 40 to 49
For drivers age 40 to 49, the average rates for the same 6 month coverage, for the same vehicle are:
- Travelers Insurance: $536
- Direct Insurance: $943
- Esurance: $1082
- Safeco Insurance: $1188
Drivers Age 50 to 59
- Travelers Insurance:$480
- Direct Insurance: $868
- Esurance: $1032
- Safeco Insurance: $1058
Senior Citizen Policy Considerations
When drivers reach the age of 60, pricing for car insurance starts to make less sense. Some companies reward our most experienced drivers with lower rates, while some choose to start charging senior citizens higher premiums. Premium prices for seniors are something where there seems to be no good explanation as to how rates are determined. Here are the rates for the same coverage as above.
- Travelers Insurance: $529
- Direct Insurance: $838
- Esurance: $1022
- Safeco Insurance: $1053
As you can see, Travelers Insurance charges about 10 percent more for seniors than it does for drivers in their 50s. The other three companies offer very minimal reductions in premium rates charged to senior citizens.
Women's Policies are Cheaper
All of the above price comparisons are for male drivers. Women drivers always enjoy slightly lower rates for the same coverage. This is because women are considered to be safer drivers than men overall. Until Age 55 or so, women usually enjoy a 10% rate reduction versus men. After age 55, the gap closes to only about 5% cost difference.
Related Questions and Answers
Does Car Insurance for a Senior Citizen Automatically Go Down, or is it Only AARP Discounts?
There are discounts to be found in senior citizen car insurance if you maximize the opportunities. While AARP is the most well-known senior car insurance discount, there are others available. Other memberships, include AAA, offer discounts. Other opportunities include enrolling in and passing a defensive driving course, maintaining a good driving record and evaluating if less miles are being driven. Some seniors may find they're spending less time on the road and this can make them eligible for a discount. Deals for senior citizens vary by insurance companies, so ask your insurance carrier about the discounts available for senior drivers.
Do You Need to Add Your Child to Your Car Insurance Coverage When They Get a Learner Driving Permit?
When your child gets a learner driving permit, there is a special form of insurance you can add to your policy. It's considered a temporary policy and has specific restrictions. Each state is different, but generally if your teen is driving your car and your car is insured, you may not have to add them to the policy. If you teen has divorced parents and potentially access to drive two different vehicles, both parents need to check about adding their teen to their individual policies. Always check with your specific insurance provider before allowing your teen to hit the road.