Car insurance coverage is more expensive as you age

There’s a direct link between the premium rates in car insurance quotes and your age. As a teen, new to driving, you will be treated as high risk, i.e. it is probable you will have an accident during your first years on the roads. Statistics show that the group with the highest accident rate are those aged between 16 and 24. But as experience increases, the risk of accidents reduces.

In the range of 25 to 54, drivers are in their prime. Their eyesight is excellent and their reflexes fast. This allows them to avoid problems on the road and take evasive action if something unexpected happens.

Although it should make no difference, some insurers start to increase premiums in the range of 55 to 64. It is easy to find cheap car insurance but you have to shop around a little more. But once the threshold is passed into the 65 to 74 range, premiums can begin to rise quite steeply. The only reason for holding down the rates is that most drivers in this range tend to drive more slowly and, if there is an accident, there‘s less damage to property and fewer injuries. Unfortunately, drivers aged 75 and above have the second highest accident rate after the youngest drivers.

Why are rates rising faster?

There are two factors at work. Medical science has improved at keeping more people alive for longer. Indeed, average life expectancy is inching up toward 80. Second, the Boomers are coming! There’s a wave of aging drivers who have the habit of driving everywhere. As they retire, this swells the leisure driving community. So, as a percentage of drivers on the road during the day, there will be an increasing number of seniors driving.

Finding cheap car insurance

While there was only a small percentage of seniors driving, they could be absorbed into the general pool of drivers and pay the same rates as everyone else. Now their numbers are increasing, they are being singled out for higher rates. To get the best deals, you therefore have to shop around. Use the search engine on this site to get the maximum possible number of car insurance quotes and ensure you are being quoted for all the discounts you are entitled to receive, e.g. driving lower-powered vehicles at off-peak times for reduced total annual mileages. With a little persistence, you should find cheap car insurance rates.