Traffic statistics clearly show correlations between age and car accidents. Automobile insurance firms use different data to generate premiums based on the specific age of the customer holding a policy.
Teenage Drivers Young drivers have to pay the highest premiums for auto insurance. Teenage motor vehicle operators are at the highest risk of getting into accidents and causing other types of property damage. Bad habits, such as talking on the mobile phone while driving, make young inexperienced drivers major liabilities for automobile insurance agencies. Nearly all insurance companies evaluate teens as risky policy holders. However, teenagers should work to keep a safe driving record in order to prevent any spikes in the monthly bills for vehicle protection. (See related article: Teen Driving Awareness Month in Duluth, GA)
With Age Comes Responsibility Most auto insurance companies follow a general rule of thumb regarding an age at which premiums are reduced. 25 seems to be the golden age when it comes to significant reductions in monthly bills on vehicle insurance. At this point of life, most young adults show levels of responsibility beyond just driving. Statistics indicate that drivers in their late twenties are at a much lower risk of getting into a car crash compared to teenagers. Most insurance companies directly inform young adult customers about the standard reductions for premiums.
Middle Age & Beyond Middle age drivers tend to pay the lowest auto insurance premiums than any other age group. At this stage of life, most adults are married and already have children. Additionally, middle age motor vehicle operators show responsibility because they most likely commute to work. The bottom line is that auto insurance companies evaluate people in their 30’s, 40’s, and 50’s as very reliable policy holders with little risk involved. However, senior citizens are risky drivers because of their physical and sensory limitations that come with aging. (See related post: Auto Insurance and Safety of Older Drivers in Roswell, GA)