It can be a scary proposition as a parent of a teen driver ready to head out on the open road. As a teen driver it can be exciting but a bit scary as well. What can also be scary is the thought of having to pay for auto insurance for that young driver. If you are a young driver or paying for car insurance for a young driver, you are probably wondering at what age does car insurance go down. There is not a straight forward answer to this question as many other factors are involved, but one thing you can look forward to is that time will be your friend.
Car Insurance Rates Go Down if You Can Get Out of Your Teens Without a Scrape
In theory, your auto insurance rates will go down from the first day you get your license. That is, of course, if you stay out of trouble and avoid auto accidents. Each policy renewal that goes by in which you have no moving violations and no claims against your policy, will see you qualify as less risky driver. One issue with young drivers is that they have not yet built up any trust with a driving history. Show them that you are a careful driver and, as time goes by, you will see your rates decline.
Car Insurance Rates Drop Quicker for Males than Females
Male auto insurance rates generally decrease at a quicker pace than those for females. Of course, male, first-time, young drivers pay more for car insurance than females. It generally takes until about middle-age before the rates for males and females become virtually even. Rates will continue to
drop further for males to the point that average rates are less for older males than older females.
Being All-Grown-Up Will Show a Rather Drastic Drop in Car Insurance Rates
Because so many factors go into determining your rates, it is hard to say at what point you can see your premiums drop drastically. However, there are a few things that coincide with each other somewhat early in many adult lives that can quickly reduce your rates. Being all grown up generally means a steady occupation, marriage and children. Married couples with children generally pay less for auto insurance. Also, there are quite a few occupations that can get you a discount on your auto insurance premiums. Once you find yourself in a career, get married and have a child, those car insurance rates can drop considerably.
Tips to Make Those Car Insurance Rates Drop Even Quicker
There are a few things you can do to make those rates drop even faster. Of course, as already stated, a good driving record will make the biggest difference, but there are a few other things that can reduce your premiums further. If you are still in school and under the age of 25, most auto insurance companies offer discounts to students who get good grades. Join AAA. Being a member has its perks and some auto insurance companies offer discounts for members. Be more conservative in your vehicle purchase. Insurance companies are wary of young drivers in expensive, powerful vehicles. If you are renting an apartment and have renters insurance, then get auto and renters coverage through the same insurer.
Get Your Auto Insurance Quotes Yearly to Measure Your Progress