Cheap Auto Insurance for Different Ages

Insurance companies consider the age of drivers when setting policy rates. Age is often associated with experience and risk. Younger drivers tend to have the least experience since they are new drivers which means they have to pay higher rates. Older drivers can pose a risk because of slower reflexes. As the chances of them being involved in an accident increase, so too might their premiums. Fortunately, it is still possible to find cheap auto insurance at any age.

Teen Drivers

There are several ways teen drivers can save money on insurance. Teen drivers with inexpensive vehicles get lower premiums. These vehicles cost less to repair and replace. Since insurers have to pay for repair costs and teen drivers have high accident rates, insurance companies reward teen drivers who drive cheap vehicles.

Being a good student can qualify teens for good student discounts with most major insurance companies. The exact grade point average (GPA) or other proof that is needed may vary depending on the insurer but this discount can result in a 25% reduction in premiums. As another option, teen drivers may be able to get cheaper coverage by being added to a parent's policy rather than getting their own.

Middle Aged Drivers

As you gain experience, your insurance rates will decrease provided you maintain a clean driving record. By avoiding accidents and abiding driving laws, you can get a good driver discount. As a middle aged driver, you probably qualify for cheap auto insurance because of additional discounts such a multi-vehicle or multiple-policy discount. These drivers often purchase life or home insurance and usually own more than one vehicle.

If you have to commute to work or are responsible for driving the kids to afterschool activities, you can add quite a bit of miles on your car. Instead of driving a new vehicle, consider an older one and purchase liability-only coverage to get lower premiums. Drivers who are on the road a lot can get additional discounts by completing a defensive driving class.

Senior Drivers

Drivers who reach the age of 60 without any tickets or causing accidents can pay less than a few hundred dollars annually for insurance. If you are in this group, you may be getting ready to retire or are already retired. Be sure to let your insurance company know when this occurs because your annual mileage is likely to drop and that means cheaper rates.

Consider buying pay-as-you-go insurance. You will be billed only for the miles you actually drive which can result in a cost savings of 50% or more on your annual insurance costs. This is the best way to get cheap auto insurance when you get older. Senior drivers who take refresher driving courses can get additional reductions.

Getting cheap auto insurance at any age is possible if you follow a few recommendations. See what type of discounts you can apply for to reduce your premiums. Always shop around by getting quotes from multiple insurance providers before buying a policy.

Discover the facts about cheap auto insurance including the benefits and disadvantages associated with this type of policy so you can make an informed choice when buying coverage.

The age of drivers is a major influence on the amount of premiums drivers pay. Find out how drivers of different ages can get cheap auto insurance even if industry standards dictate otherwise.

Whether you are moving abroad or simply there for vacation or a business trip, knowing how to get cheap auto insurance will help you save money you can spend in other ways.

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