Auto Insurance Rates by Age (2024)

It’s no secret that auto insurance for young adults is more expensive than coverage for older drivers, making it critical to compare auto insurance rates by age. Teens pay about $592 for full coverage, but rates decrease around 25. In addition, males typically pay higher rates than females.

We’ll break down auto insurance premiums by age, looking at cheap auto insurance companies by age. Keep reading to learn more about average car insurance rates by age and gender, how to find the best car insurance rates by age, and how age affects car insurance rates. Enter your ZIP code above to get started on comparing quotes.

Average Auto Insurance Rates by Age

Auto insurance rates fluctuate based on age. Young drivers pay higher average rates because they lack the necessary experience to avoid accidents. In addition, another reason why auto insurance costs more for young drivers is that they tend to take more risks, like distracted driving and speeding.

Insurance rates by age reflect the evolving risk profiles insurers consider, balancing experience and statistics to determine premiums

So now we know that car insurance rates can vary significantly based on age and gender, reflecting the varying risk profiles associated with different demographics. The average insurance rates by age and car highlight these differences. For younger drivers, particularly those under 25, premiums are often higher due to their limited driving experience and higher likelihood of accidents.

The cost of car insurance for 17-year-olds tends to be quite high due to the increased risk associated with young and inexperienced drivers. On average, insurance companies charge higher premiums to cover potential accidents. Specifically, the average car insurance rate for a 17-year-old female varies depending on factors such as location, type of vehicle, and driving record. Still, it remains significantly higher than rates for older, more experienced drivers.

For example, the average car insurance rates for drivers under 25 are notably high. Specifically, car insurance for a 23-year-old and car insurance for a 24-year-old tends to be expensive, though at slightly lower rates than for teenagers. The average car insurance rate for a 20-year-old female is generally lower than for males of the same age but still high overall.

AS drivers age and gain more experience, their rates typically decrease. Car insurance for a 28-year-old male and car insurance for a 30-year-old is usually more affordable than for young drivers.

For older drivers, car insurance for those over 50 years old and car insurance for drivers over 55 years old tends to be quite reasonable, as these drivers are often seen as more experienced and lower-risk.

Auto insurance rates for seniors and auto insurance for seniors over 65 can vary, sometimes increasing slightly due to age-related factors. However, car insurance for 60-year-olds often remains relatively low compared to younger age groups.

Overall, the cost of car insurance is influenced by various factors including age, gender, driving history, and the type of car being insured.

Auto insurance for men vs. women also has varying rates. Males typically pay higher rates because statistics show they take more risks. So, we’ll show you average car insurance rates by age and gender. In general, if you are wondering, “Which gender pays more for car insurance?”, statistically speaking, young male drivers tend to pay more for car insurance compared to young female drivers. Insurance rates do go up with age no matter your gender. 

However, not all states allow auto insurance companies to use age to determine rates. We’ll see how average car insurance rates by age per month compare below. Understanding average car insurance rates per month helps budget-conscious drivers plan their expenses wisely.

Cheapest Auto Insurance for 18-Year-Olds

Many 18-year-olds have a year or two of driving experience, so their rates aren’t the highest. However, rates are still significantly higher than average.

Why do young drivers pay more for car insurance? Auto insurance for teens is higher for various reasons, but the most significant is that they’re in more accidents than older drivers.

Check out this car insurance rates chart by age to see which of the top insurers have the best full coverage rates for 18-year-old drivers:

Teen Full Coverage Auto Insurance Monthly Rates by Provider, Age, & Gender

Insurance Company	Age: 16 Female	Age: 16 Male	Age: 18 Female	Age: 18 Male
	$608	$638	$448	$519
	$452	$456	$333	$371
	$778	$742	$573	$603
	$298	$312	$220	$254
	$716	$778	$528	$633
	$411	$476	$303	$387
	$801	$814	$591	$662
	$311	$349	$229	$284
	$709	$897	$523	$729

While USAA has the cheapest rates, it only offers car insurance to military members, veterans, and their families. So for this article, we’ll focus on insurers available to all drivers.

Geico offers the cheapest rates for all 18-year-olds, but males pay around $30 more monthly than females.

Farmers offers the most expensive rates for 18-year-old females. However, Travelers has the most expensive rates for 18-year-old males, who pay over $200 a month more than females.

Read More:

• USAA Auto Insurance Review
• Farmers Auto Insurance Review
• Geico Auto Insurance Review

Cheapest Auto Insurance for 35-Year-Olds

Fortunately, drivers over 25 see lower car insurance rates. In addition, the gap between male and female rates decreases.

Car insurance age brackets categorize drivers into groups that insurers use to assess risk and determine premiums, reflecting varying levels of driving experience and statistical likelihood of accidents. The car insurance by age chart below illustrates how premiums vary differently across age groups.

This table shows average car insurance rates by age and gender for older drivers from top car insurance companies:

Full Coverage Auto Insurance Monthly Rates by Age, Gender, & Provider

Insurance Company	Age: 18 Female	Age: 18 Male	Age: 30 Female	Age: 30 Male	Age: 45 Female	Age: 45 Male	Age: 65 Female	Age: 65 Male
	$328	$378	$99	$103	$88	$86	$86	$84
	$448	$519	$168	$176	$162	$160	$158	$157
	$305	$414	$116	$137	$115	$117	$113	$114
	$405	$461	$125	$128	$114	$111	$111	$109
	$597	$629	$160	$167	$139	$139	$136	$136
	$220	$254	$90	$87	$80	$80	$78	$78
	$626	$626	$174	$200	$171	$174	$167	$170
	$283	$318	$87	$91	$78	$77	$77	$76
	$303	$387	$124	$136	$113	$115	$111	$112
	$591	$662	$131	$136	$112	$105	$109	$103
	$253	$292	$77	$79	$72	$71	$71	$69
	$229	$284	$94	$103	$86	$86	$84	$84
	$407	$469	$126	$133	$115	$113	$112	$109
	$530	$740	$99	$108	$98	$99	$96	$97
	$180	$203	$74	$79	$59	$59	$58	$57
U.S. Average	$416	$501	$128	$139	$119	$119	$117	$117

Rates continue to decrease until drivers reach 60. Then, many drivers see their rates creep back up, but they remain much lower than younger drivers. 

Cheapest Auto Insurance for 65-Year-Olds

Once drivers hit a certain age, health concerns outweigh experience behind the wheel. While most older drivers have decades of experience, some drivers face a loss of motor skills and slow reaction times.

For these reasons, auto insurance for seniors begins to get more expensive when drivers turn 60. However, the increase should be minimal if you’ve avoided accidents on your driving record.

Read More: Best Auto Insurance for Seniors

This table shows the average monthly car insurance rates for 65-year-old drivers:

Senior Full Coverage Auto Insurance Monthly Rates by Provider, Age, & Gender

Insurance Company	Age: 55 Male	Age: 55 Female	Age: 60 Male	Age: 60 Female	Age: 65 Male	Age: 65 Female
	$152	$153	$154	$150	$157	$158
	$92	$92	$89	$86	$95	$95
	$131	$132	$128	$120	$136	$136
	$76	$76	$74	$73	$78	$78
	$165	$162	$159	$148	$170	$167
	$109	$107	$104	$99	$112	$111
	$100	$106	$95	$92	$103	$109
	$82	$82	$76	$76	$84	$84
	$107	$109	$103	$101	$109	$112
	$94	$93	$90	$89	$97	$96

Geico provides the lowest rates for male and female 65-year-old drivers. However, Liberty Mutual offers the highest rates for 65-year-old drivers, which are more than double those of Geico. (Read More: Liberty Mutual Auto Insurance Review)

Average Auto Insurance Rates by Age and State

Navigating the average car insurance cost by age reveals how premiums evolve, reflecting drivers’ changing risk profiles and insurers’ pricing strategies. Your location also affects car insurance rates. As discussed above, some states don’t allow age to affect rates. However, all other states allow insurers to consider age when calculating rates.

This table shows the average car insurance cost per month by age and state:

Full Coverage Auto Insurance Monthly Rates by State & Provider

Monthly average costs by age and state vary, due to high crime rates or different insurance regulations by state. So, comparing average car insurance rates by age and state is critical to finding the lowest cost.

For example, North Carolina offers male and female 18-year-old drivers the cheapest rates. On the other hand, Michigan has the highest average car insurance rates by age for the same group. In fact, Michigan’s rates are around three times as high as North Carolina’s. You can see in the chart that the average monthly car insurance cost in Wisconsin by age, isn’t too high either. Overall, the average car insurance cost by age varies per state and other factors.

How Age Affects Auto Insurance Rates

As we’ve seen, car insurance rates vary by age. So now, let’s talk about why different age groups receive different rates.

Young drivers have the least experience and are more likely to get into accidents. In addition, younger drivers are more likely to take risks like speeding and distracted driving.

If you’re wondering what age group has the most fatal crashes, according to the Insurance Information Institute, vehicle crashes are the second leading cause of teen deaths. Additionally, teen fatalities make up almost 9% of crashes, but teens only make up 5% of drivers.

However, starting in the mid-20s, insurers consider drivers more responsible and safer. The added responsibility of families and jobs causes many drivers to take fewer risks. Car insurance companies see this as a win and offer lower rates.

Once drivers become older, they may see an increase in car insurance rates. Typically, older drivers face medical concerns such as losing vision or hearing, slower response times, and other conditions. Thus, rates begin to rise as drivers age.

The average car insurance rate for an 80-year-old driver can range from approximately $1,500 to over $2,000, depending on various factors.

The average monthly car insurance cost for an 18-year-old driver, on average, is approximately $229 per month for full coverage. For a 20-year-old driver, the average monthly car insurance is about $252 per month for full coverage.

Fortunately, rates for older drivers shouldn’t increase to the significantly higher rates for young drivers. All drivers can reduce car insurance rates by maintaining a clean driving record and taking advantage of auto insurance discounts.

Drivers can also take advantage of discounts for their age group. For example, many insurers offer good student discounts for young drivers or membership discounts for drivers over 50 in AARP.

Other Factors Affecting Auto Insurance Rates

Many factors affect auto insurance rates alongside age. For example, while age and gender are significant factors that influence rates, they aren’t the only considerations.

Additional factors affecting car insurance rates include:

• Driving record: Driving records show car insurance companies how risky drivers are to insure. Drivers with accidents, tickets, and DUIs will likely cost insurers and see higher rates.
• Vehicle type: New or expensive vehicles are costly to repair or replace, so they see higher car insurance rates. Choose older or inexpensive vehicles to get the lowest rates.
• Coverage choice: More coverage equals higher insurance rates since the insurer is more likely to pay a claim. Drop unnecessary coverage and raise auto insurance deductibles to lower rates.
• ZIP code: Average auto insurance rates by ZIP code vary. Drivers who live in cities with a high crime rate and traffic volume see higher rates since their vehicles are more likely to get in an accident or be stolen.
• Credit score: You might be curious how credit scores affect auto insurance rates. Statistics show that drivers with a high credit score are more likely to avoid claims and pay for damages themselves. 

Although most car insurance companies look at these factors to calculate rates, they look at them differently. For example, one insurer may offer higher rates because of your speeding ticket, while another could overlook your first ticket and offer lower rates.

Understanding Average Auto Insurance Rates by Age

So, you might be wondering how age affects car insurance rates. Younger drivers with less experience behind the wheel pay the highest average auto insurance rates. Drivers with more experience see lower rates starting in their mid-20s.

🚗Drivers under 25 pay up to $5k more a year for insurance than those in their 30s.😲 Do you fall in this age range? 👉Price match here: https://t.co/TSq0vDEjME. Learn ways to save on auto insurance for young drivers: https://t.co/J43PJYIyTo pic.twitter.com/CkyAQkMKeN

— AutoInsurance.org (@AutoInsurance) February 16, 2023

However, drivers may see rates increase again once they hit 60. Car insurance companies understand that older drivers may have medical conditions affecting safe driving, such as vision and hearing loss.

Your state also affects your car insurance rates. For example, some states charge higher car insurance rates for the same age group due to the state’s regulations.

Since each car insurance company offers different rates, shopping around is essential to find the best car insurance by age. Compare multiple companies to see which offers your age group the cheapest rates.