ALIAS Insurance

How Age Affects Car Insurance Prices for Men and Women?
Last Updated on February 27, 2024 by admin

When teenagers start driving, their car insurance is way more expensive than what older folks pay. Like, three times more! Also, Men usually pay about 6% more for insurance than Women.

For example, if a 16-year-old wants full coverage insurance, it’s around $613 each month. But a 60-year-old person might only pay about $158 for the exact same coverage.

It’s like how you might pay more for a cool new game, but your older sibling gets it cheaper. Insurance works kinda like that!


When insurance companies decide how much to charge for car insurance, they really care about your age. If you’re younger, they might charge more because you haven’t been driving for long.

People under 25 usually have to pay the most for car insurance. And it goes up again after you turn 60.

Some companies, like Travelers, State Farm, Geico, and USAA, have cheaper rates for both teens and older drivers.

Oh, and your gender matters too. On average, guys pay about 6% more for full coverage car insurance than girls. It’s just one of those things insurance companies look at.

Average car insurance rates by age

Sure thing! So, when it comes to car insurance, younger and older drivers usually pay more than those who are in the middle age.

Imagine a 16-year-old, they pay about $613 each month for full coverage insurance. That’s way more than what a 25-year-old pays—like, three times more!

But when you hit 60 years old, the rates go down. A 60-year-old driver pays about $158 each month for full coverage. After 60, though, the prices start going up again. So, a 75-year-old pays about 19% more than a 60-year-old for car insurance. It’s kind of like a rollercoaster for prices!

Usually, Men end up paying more for car insurance than Women, especially when they’re young. On average, Men pay about 6% more for full coverage car insurance than Women. And guess what? Between 16 and 20 years old, Men can end up paying even more—like 9% to 11% more than Women of the same age.

But hey, there’s some good news! As you get more practice driving, the cost of insurance starts to go down. For example, a 19-year-old pays about 24% less for full coverage insurance than an 18-year-old. And between ages 20 and 21, the rates drop by 17%. So, the longer you drive, the less you might have to pay for insurance. Cool, right?

Why does age affect car insurance rates?

Let’s break it down. So, young drivers pay more for insurance because, well, teens haven’t been driving for as long. Less experience means they might be more likely to get into accidents compared to older folks.

Check this out from the Insurance Institute for Highway Safety:

  • Between 16 and 19 years old, you’re like four times more likely to be in a car accident compared to older drivers.
  • Drivers from 15 to 20 years old are responsible for 7% of all fatal accidents, even though they only make up 4% of all drivers.

So, insurance companies figure that since young drivers might have more accidents, they charge them more. Makes sense, right?

Now, when you hit your mid-30s to late-50s, your rates can go down. That’s because by then, you’ve got more experience and road smarts, leading to fewer accidents.

But here’s a heads up: once you hit your 60s, rates start to slowly go up again. Age can impact driving, like slower reflexes. An 80-year-old might pay about $209 per month for full coverage, just $10 more than a 25-year-old.

So, in a nutshell, insurance looks at how likely you are to have accidents, and that’s why rates can change with age.

How gender affects car insurance rates as you age

Sure thing! So, here’s the deal with gender and car insurance: Men usually end up paying about 6% more than women over their whole life, but it changes as they get older.

Before turning 21, men pay about 10% more than women for full coverage insurance. But as they get older, that difference starts to get smaller. After hitting 30, guys actually start paying 1% less than girls, and it stays that way until they’re 50. So, it’s like a bit of a seesaw – goes up and then down as you get older!

How to save money on car insurance at any age

Let’s talk about how both young and older drivers can save money on car insurance. Here are some tips, and it’s like a shopping list of ways to save!

  • Shop around: It’s like comparing prices when you’re getting a new game. Check out at least three different insurance companies to see who has the best deal. You can do this online, and it’s super quick.
  • Look for discounts: Just like getting a discount on your favorite snacks, you can get discounts on car insurance. If you’re a teen, keeping good grades and taking defensive driving courses can save you up to 10%. And if you’re a senior, there are special discounts, like Allstate’s “55 and Retired” discount.
  • Join your parents’ policy: If you’re 18, it’s actually way cheaper to join your parents’ car insurance than getting your own. Yeah, it might bump up their rate a bit, but overall, it’s still way less than having two separate policies. It’s like sharing a video game—you both get to play, and it costs less!

So, think of these tips like a game plan to save some money on car insurance.

Cheapest insurance companies for young drivers

Got it! So, if you’re under 25 and looking for affordable car insurance, Travelers is the go-to. It’s like $273 per month for full coverage, which is 6% less than Geico and 9% less than State Farm.

Choosing the right insurance company can make a big difference, saving you more than $300 per month. It’s kind of like picking the best deal on your favorite stuff—makes a big impact on your wallet!

If you’re a young driver, you might discover lower prices from smaller companies like Erie, Farm Bureau, and Auto-Owners.

Take Erie, for instance—full coverage is $191 per month, but it’s only in 12 states and Washington, D.C.

Here’s the deal: what’s the best option can change every year. So, when it’s time to renew your policy, check out quotes from a few companies to see which one works best for you. It’s like comparing different game options each time you play.

Cheapest car insurance for senior drivers

State Farm, Travelers and USAA offer the cheapest rates for senior drivers. Those three companies have below-average rates for drivers 65 and older.

For older drivers, State Farm, Travelers, and USAA have the best prices. They offer rates that are lower than what most people in their 65s and up pay.

But here’s a tip: it’s also good to check out quotes from smaller companies like Farm Bureau, Erie, Auto-Owners, and Country Financial if they’re around where you live.

Farm Bureau, for example, has the cheapest full coverage at an average of $118 per month. But remember, the options can vary depending on where you live, and there might be a membership fee to get their policy.

Think of it like picking the best spot to get your favorite snacks—it’s good to check out a few places to get the best deal!

Frequently asked questions

Who pays the most for car insurance?

Young drivers under 25 pay the most because they’re kinda new to driving. Since they’re still learning, there’s a higher chance they might make a mistake on the road.

Who gets the cheapest car insurance?

People around 60 get the cheapest rates because they’ve been driving for a long time. Between 30 and 65, the prices are pretty reasonable. But after 60, it starts going up a bit because people might get slower reflexes.

Do guys or girls pay more for car insurance?

Guys usually pay 6% more over their whole life. The difference is bigger when they’re under 21, with guys paying 10% more than girls on average.

Why is car insurance so pricey for young drivers?

Well, young drivers are kinda new to the road, and they might take more risks. Insurance companies think they’re more likely to cause accidents, so it costs more to insure them. Also, young drivers often have other things going on, like renting an apartment, parking on the street, or not having the best credit score, which can make insurance more expensive.

Andy Walker

Andy Walker is a freelance content writer who specializes in writing for insurance and finance related niches. He has years of experience in this field and has written extensively on a variety of topics. Andy's work is always highly polished and well-researched, ensuring that his clients are always happy with the results.