Auto Insurance Rates Lower for Older People
Statistics never lie, and one statistic that is confirmed over and over again is that younger drivers get into more accidents than older drivers. This is due to two major reasons, but the bottom line is that auto insurance rates will almost always be lower for older drivers.
Older Drivers More Experienced
One of the two big reasons that explains why auto insurance rates are lower for older drivers is that younger drivers by definition have been driving less, and are not as experienced. That lack of experience translates into younger drivers making the wrong driving decisions more frequently, and therefore causing more accidents. Younger drivers, therefore, are much more likely to cost an auto insurance provider money, and so their rates are going to reflect that.
Safer Driving Habits
The second big factor that makes auto insurance rates lower for older people is that they, unlike younger drivers, simply aren’t in it for the excitement and novelty anymore. A 50-year-old housewife is just no longer excited by the idea of driving, whereas a 17-year-old boy or girl still finds the whole endeavor novel and a bit of a thrill. Younger drivers also tend to drive much faster than older drivers, and higher speeds make accidents more difficult to avoid, and more damaging when they do occur.
Auto insurance rates are basically calculated by the amount of driving that a person has under his or her belt, along with several other factors that will also correlate to age. An older driver who has just recently started driving, for example, will have a higher car insurance quote than one of their peers who has been driving since they were 16.