The Average Car Insurance Cost By Age

Car insurance premiums vary according to your age, with younger drivers paying more than older drivers. Gender also plays a role. This article shows how age affects your car insurance prices.
Written by Cheryl Knight
Reviewed by Carrie Adkins
The amount you pay for car insurance varies depending on your age and your gender. And while you can shop around at
various companies
to find better premiums, younger male drivers tend to pay more than their female counterparts.
Find out below how much males and females pay, on average, for
car insurance
according to their age. Plus, take a look at what factors make car insurance so high for younger drivers.
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How much does car insurance cost by age?

As you get older, your car insurance premiums tend to go down, hitting their lowest between age 50 and 60 before rising again after age 65.
Additionally, car insurance premiums vary according to the gender of the driver, with female drivers paying less per year on average, for the most part, compared to male drivers. Here are the average car insurance costs for drivers based on age and gender.
Age
Men State Minimum Liability
Men Full Coverage
Women State Minimum Liability
Women Full Coverage
20
$1,129
$3,097
$996
$2,599
30
$552
$1,451
$573
$1,458
40
$538
$1,355
$547
$1,369
50
$517
$1,297
$513
$1,278
60
$508
$1,258
$494
$1,221
70
$567
$1,369
$542
$1,316

Which drivers pay more for car insurance?

Age and gender play a big factor in how much you pay for car insurance.
Younger drivers
pay more for car insurance mainly due to the fact that they are more apt to have an accident, get a ticket, or commit some other kind of traffic violation.
Insurance companies consider males, in particular, a higher risk when driving. Some stats that led to this conclusion include the following:
  • Men tend to have more accidents than women, to the tune of 1.7 million more, according to the National Highway Travel Safety Administration (NHTSA).
  • Men tend to drive more aggressively and take more risks when on the road.
  • According to the Federal Highway Administration, men drive more than 6,000 miles more than women per year.

How to reduce your car insurance premiums

In order to reduce your car insurance premium, you have some other options in addition to driving more safely. The following information details what else you can do to reduce your car insurance premiums.
  • Shop around: Occasionally shopping around for more affordable car insurance represents one of the easiest ways to save money. If you notice your premiums starting to creep up and you haven't had an accident recently, then start getting quotes from other insurance companies. Make sure any policy you switch to has the same amount of coverage as your old policy for a cheaper price.
  • Bundle policies: You could also bundle policies, such as car, home, or renters insurance. This should give you a decent discount on each of the policies you have with the company. You can also have a
    multi-car policy
    , which should save you even more.
  • Discounts: Many insurance companies offer a variety of different discounts for policy holders. The most common include loyalty discounts for staying with the insurer, good driver discounts for drivers who keep a clean record, and discounts for paying your policy amount on a quarterly, annual, or biannual schedule as opposed to monthly.
  • Higher deductible: You can also opt for a higher deductible, which should lower how much you have to pay on your premiums. Don’t raise your deductible too much or you could end up paying more than you want. A deductible of $1,000 represents a good amount, though many policy owners choose to go with a $500 deductible.
Having an idea of how much you can expect to pay in car insurance premiums allows you to look for deals among the various car insurance companies. While you can’t change your age or gender, you can strive to keep a
clean driving record
and shop around for insurance if you notice your premiums going higher than you want.
If you’d rather leave the hard work of gathering quotes to someone else, use
Jerry
. The Jerry app can collect quotes from 50+ top insurance companies, like Travelers, Nationwide, and Progressive, in seconds! They even help cancel your old policy once you’ve made your pick.
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