average car insurance rates by age and gender per month
While your gender undeniably has an impact on your car insurance rates, it's far from the biggest factor when an insurance company decides your premium. After you retire, the average cost of car insurance starts to pick up a bit. You need at least a Single Account to use this feature. Average monthly car insurance rates by state are outlined in the chart below. (May 21, 2020). What Else Impacts Auto Insurance Premiums? Your age, location, and vehicle are all part of the equation. As you can see, the average car insurance rate in relation to age goes down very quickly for our example driver. RED Auto Protection: A Deep Dive Into The Fine Print, Average Car Insurance Rates By Age And State, https://www.motor1.com/reviews/394962/average-car-insurance-rates-by-age/, Auto Insurance Provider Comparison By Driver Age. Rates are based on buying a full coverage policy, assuming good credit and a clean driving record. The average price of car insurance in the UK is £478 per year, according to the Association of British Insurers (ABI). Drivers who are 80 years old or more will pay around $170 per year. Average car insurance rates by age can vary widely. Gender: Age affects car insurance rates more than gender. The risk of an accident is highest among brand new drivers as well. When shopping locally, see if you can find customer reviews from a source besides the company website. That provides bodily injury coverage of $25,000 per person and $50,000 per accident, as well as $25,000 for property damage. Car insurance policies are affordable in Minnesota. ValuePenguin. After that, average monthly prices are between $100 and $140. Car insurance cost statistics show that those aged between 26-30 pay an average of over $2,500 and drivers over 56 an average of around $2,400 per year. Please create an employee account to be able to mark statistics as favorites. Your Age Is Calculated into the Average Rates. In some situations, a no-fault system can drive up insurance costs. Average car insurance rates by age can vary widely. 16-year-olds are 50 percent more likely to crash than 18- and 19-year-olds. Esurance auto insurance has the best discount for seniors out of the companies we reviewed. Car insurance premiums are calculated based on everything from your zip code to your driving history to your age, credit score and the type of car you drive. New Jersey drivers pay the most for car insurance, according to Insurance Information Institute data, at about $1,309 per year. Driving history, age, gender and location are among the most important determinants of insurance premiums. Accessed November 30, 2020. https://www.statista.com/statistics/555842/auto-insurance-costs-usa-by-age-gender/, ValuePenguin. According to the National Highway Traffic Safety Administration, 85-year-old men are 40 percent more likely to get into an accident than 75-year-old men. According to a 2018 study commissioned from Quadrant Information Services, the average cost of car insurance varies significantly based on the driverâs age. As soon as this statistic is updated, you will immediately be notified via e-mail. For example, the average car insurance rates in Ontario are $1,920 per year, but annual insurance premiums are only $912 in Quebec and $1,092 in Nova Scotia. It’s also important to know that state minimum coverages probably won’t protect you in the case of a catastrophic accident. You can only download this statistic as a Premium user. ", ValuePenguin, Average auto insurance expenditure per year for an 18-year old in the United States in 2020, by gender (in U.S. dollars) Statista, https://www.statista.com/statistics/555842/auto-insurance-costs-usa-by-age-gender/ (last visited November 30, 2020), Average auto insurance expenditure per year for an 18-year old in the United States in 2020, by gender, Property and casualty insurance in the United States, Leading property and casualty insurance companies in the U.S. 2019, by revenue, Leading U.S. writers of property/casualty insurance in 2019, by market share, Leading writers of commercial lines insurance in the U.S. 2019, by direct premiums, Leading writers of private passenger auto insurance in the U.S. 2019, by premiums, Market share of leading U.S. private passenger auto insurers 2019, by premiums, Leading writers of U.S. commercial auto insurance 2019, by direct premiums written, Market share of commercial auto insurance companies in the U.S. 2019, by premiums, Gross premiums written by property and casualty insurance in the U.S. 2004-2019, Net premiums written by property and casualty insurers in the U.S. 2004-2019, Distribution of net premiums written by U.S. P/C insurance companies 2018, by line, Leading writers of property/casualty insurance in the U.S. 2019, Leading U.S. property/casualty business reinsurers in 2018, by gross premiums written, Average annual car insurance expenditure in the U.S. 2020, by gender, Annual motorcycle insurance premium in the U.S. by state 2020, Leading writers of homeowner insurance in the U.S. 2019, by direct premiums, Value of homeowner multiple peril insurance net premiums in the U.S. 2006-2019, Number of U.S. homeowner insurance claims paid due to lightning losses 2008-2019, Insured property losses in the U.S. 2004-2019, Most expensive hurricanes in the U.S. as of 2020, by property losses, Incurred losses for auto insurance in the U.S. 2011-2019, Incurred losses for private passenger auto insurance in the U.S. 2012-2019, by type, Incurred losses for homeowner insurance in the U.S. 2012-2018, Incurred losses for commercial insurance in the U.S. 2012-2018, Profit of leading property/casualty insurance providers (stock) in the U.S. 2019, Financial assets of U.S. property-casualty insurance companies 2000-2018, Value of investments of property and casualty insurers in the U.S. 2013-2019, Investments of property and casualty insurers in the U.S. 2013-2019, by asset type, Value of mutual funds held by property-casualty insurers in the U.S. 2000-2018, Average auto insurance expenditure in the U.S. 2004-2013, Least expensive cities for car insurance in the U.S. 2014, Most expensive cities for car insurance in the U.S. 2014, Preferred ways of saving money on car insurance in the Netherlands 2017, Car collision claim size for physical damage in the U.S. 2007-2019, Car insurance brands and companies considered when switching in the Netherlands 2017, Comprehensive car claim size for physical damage in the U.S. 2007-2019, Consumer attitude towards switching car insurances in the Netherlands 2017, Preferred ways of car insurance purchase in the Netherlands 2017, Car collision claim frequency for physical damage in the U.S. 2007-2019, Preferred consumer orientation methods for new car insurances in the Netherlands 2017, Gross accident rate in vehicle insurance in Spain 2005-2019, Car insurance brand preferences of Americans in the 1st half of 2016, by age, Comprehensive car claim frequency for physical damage in the U.S. 2007-2019, Americans' preferred auto insurance from February to April 2018, based on loyalty, Survey on Christmas gift whishes in Norway 2018, by gender, Planned additional vehicle expenditures in the United Kingdom (UK) 2017, Italy: attitudes around materialism 2016, by gender, Share of people who feel enough is being done to achieve gender equality by area 2019, Perceptions on ignorance of sexual harassment reports in India by gender in 2018, Private health insurance in the United States, Average auto insurance expenditure per year for an 18-year old in the United States in 2020, by gender (in U.S. dollars), Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. For drivers under the age of 24, rates for this automobile on a 6-month policy are as follows: Travelers Insurance: $1,948; Direct Insurance: $1,954; Esurance: $2,339; Safeco Insurance: $2,921; Compare Car Insurance Quotes >> Drivers Age 25 to 29. On the other hand, if you live in upstate New York, your policy will probably cost less than the state average. But the price of your policy will be unique to your situation. You can also see that the fatal crash rate for drivers above the age of 80 is almost the same as the rate for 16- and 17-year-olds. Fortunately, there are a number of other discounts that you might be able to capitalize on right now. The most common cause of a rate increase is filing a claim. This is $343 per year, or about $28.50 per month, cheaper than the state average. Male Average Car Insurance Rates by Age. How Age Affects Car Insurance Rates. Average prices by age Car insurance prices drop the most for 17-year-olds The cost of car insurance for 17-year-olds decreased by £140 (7%) in three months, to £1,911, on average. ... Once you reach age 30, car insurance premium rates become relatively stable, declining only slightly through age â¦ The average cost of car insurance in Ontario per month will vary based on the amount of your annual premiums. Profit from additional features by authenticating your Admin account. The average monthly auto insurance cost is $86 in the United States. However, your personal auto insurance rate depends on â¦ Here's a look at the average cost for state minimum coverage per age. Your auto insurance rates are impacted by factors aside from your location. The average cost of a car insurance policy is $937 per year, or $78 per month for a policy that meets the minimum requirements of each state. Please authenticate by going to "My account" → "Administration". How much is car insurance for a 20-year-old? Female drivers from age 16 to 24 pay, on average, around $500 less a year for car insurance compared to their male counterparts, according to Insure.com's rate analysis. At the age of 25, the driverâs average rate is less than half of the lowest rate â¦ On average, a married 20-year-old pays â¦ If you want to make this call short, you can get your quote online before you call in and discuss it with an agent. Graph Table Learn more about how Statista can support your business. As people get older, they start experiencing problems with vision and cognitive abilities, which are important for driving skills. The average car insurance cost in Minnesota is $1,258 per year â nearly 12% less than the national average. Bodily injury doesn’t just cover medical bills – it also covers lost wages. Get personalized rate quotes The average monthly car insurance rates in Ontario are between $125 to $158, depending on which part of the province you live in. Based on this trend, one could expect that the car insurance rate is â¦ The average cost of car insurance in the United States is $1,738 per year for full coverage. Average monthly auto insurance rates also vary according to your ZIP code. Average car insurance premiums by age and gender. However, you might find better rates through another company that doesn’t have a specific student or senior discount. Car insurance premiums take into account an array of factors, including your age, gender, marital status, credit rating, and driving history. Those aged 50 to 59 pay the least for car insurance, with all other variables constant. As a Premium user you get access to the detailed source references and background information about this statistic. Rates for drivers in their 80s get expensive again, though not as expensive as rates for new drivers.