The cheapest age for automobile insurance
Insurance corporations love you for your wrinkles.But it isn't solely concerning your age. It's concerning the house you've got bought, the married person you had got, and also the bills you've got paid.
That's why you are within the sweet spot for the most effective automobile insurance rates from most corporations if you are between the ages of forty and sixty, says Penny Gusner, client analyst for Insurance.com.
"These drivers have usually settled down, have a family and drive responsibly, and are responsible with their finances," Gusner says. (See "How your insurance rates change.")
A two-year analysis of nearly 200,000 quotes delivered through CarInsurance.com's online comparison engine showed that 16-year-olds saw an average rate of $4,075. By age 21, that average fell by half. And by age 50, it fell by half again.
Older drivers are more likely to be contending with slower reaction times behind the wheel and worsening eyesight. Those risks overcome greatly reduced mileage to result in rates that begin rising again after age 65.
