A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products, including home, life, auto, and commercial, and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, mainly in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers Insurance CSR 4 Years

UPDATED: Oct 18, 2021

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Important facts to know...

  • Teens are one of the most expensive demographics to insure
  • Various factors go into the cost of insurance
  • Seniors are responsible for a large number of accidents on the road

When you get car insurance quotes, your age is a factor. Car insurance premiums vary by age. They start off high when drivers are in their teens and then level off. Eventually, the rates begin to increase with age.

You have to know when the rates are at their best and what can be done to lower your cost of insurance.

Comparing car insurance quotes from several companies will help you find the best deal for the coverage you need. Enter your zip code above to compare today for free.

The Cost of Insuring Teen Drivers

Teen drivers are relatively expensive to insure. They are one of the largest demographics to be involved in car accidents. According to the CDC, motor vehicle crashes are the leading cause of death among U.S. teens.

Insurance companies calculate the cost of car insurance based upon risk. The higher risk a driver is, the higher the cost of insurance.

Based on the statistics, teen drivers are riskier.

While there are other factors, car insurance premiums are going to be high for teens. The only way to overcome this is to get older. As teens mature and spend more time on the road, they learn more about being defensive.

They also spend years proving to the insurance companies to show that they have what it takes to be safe on the roads.

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The Cost of Insuring Senior Drivers

There are more drivers over the age of 70 than ever before. Seniors will often have various health problems that make it difficult for them to drive, or at least to dedicate their full attention to the roads.

Some issues include:

When doctors notice problems with their patients, they might alert the DMV. The DMV could require specific endorsements on the license or revoke a person’s driving privileges entirely. Otherwise, a person has to know and admit when they are unable to drive any longer.

Additionally, as a person ages, they become frailer. The frailty is what leads to many injuries and deaths. An older person is less likely to survive a severe crash in comparison to a younger person.

While there are always exceptions to the rule, car insurance premiums will increase as a person gets older. Many times, the premiums don’t start to rise until a person hits the age of 60 or 70.

This increase often depends upon the state a person resides in as there is mandatory retesting in some states at a specific age. This testing could include vision and driving exams.

How to Impact the Cost of Insurance

Various factors go into the cost of car insurance. This means that there is a way to counteract the rise of car insurance premiums as you get older.

Insurance companies will need to know various things when getting a car insurance quote together, such as:

  • The kind of car you drive
  • How much you drive
  • Your age
  • Your gender
  • Your location
  • The total level of coverage

All of this information is used to determine what the cost of your insurance premiums will be. As you age, car insurance premiums will start to rise because of being frailer and less aware on the roads. However, this does not mean you have to spend a fortune on insurance.

There might be new ways for you to overcome the higher cost of insurance.

While you cannot do anything about your age or gender, you can choose the type of car you drive as well as how often you drive it.

You might want to think about getting a newer car with more safety features.

Additionally, if you are retired and don’t spend a lot of time on the road, you might qualify for a low-mileage discount.

Some car insurance companies will require you to install a monitoring device on your car to prove your mileage, but it could be worth it to save money on your premiums.

Car insurance premiums are more expensive for teens and seniors. This means that there is a large period of time where insurance is more affordable because of hitting the sweet spot in age.

Although premiums do increase with age, there are ways to keep premiums affordable. It’s important to take the time to get quotes from multiple insurance companies. Enter your zip code below to compare car insurance quotes.