Car Insurance Gets More Costly When You Reach This Age

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Unhappy senior driver
Ljupco Smokovski / Shutterstock.com

Adult drivers generally see their car insurance rates drift lower for decades — until they hit their 60s.

At that point, rates climb — and continue to do so for the rest of your life, according to the 2022 The State of Auto Insurance report from The Zebra.

Rates are highest when you are young. In fact, drivers who are 16 years old and have their own policies pay a jaw-dropping $6,034 a year for car insurance, on average. That is nearly twice what they will pay by the time they turn 20.

Things get better for drivers in their remaining teen years, but not by much.

The Zebra found that people in their:

  • Teens: Pay $4,796 per year for car insurance, on average
  • 20s: $2,010
  • 30s: $1,495
  • 40s: $1,435
  • 50s: $1,350
  • 60s: $1,361
  • 70s: $1,569
  • 80s: $1,831

It’s no secret why rates are higher at the beginning and end of your driving years: That’s when accidents are most likely to occur.

As Insurance.com has pointed out about senior drivers:

“Older, senior, drivers as a group are more accident-prone than their middle-aged counterparts. The reasons for this include age-related changes in hearing or vision, slower reflexes, health conditions and medications.

In addition, regardless of accident severity, older drivers suffer graver injuries and more fatalities than younger people. This makes seniors more expensive to treat following an injury. These factors can increase insurers’ claim costs, and those costs are passed on.”

Rates are rising

Sadly for drivers of all ages, car insurance rates are increasing in most states. The District of Columbia and 38 states recorded a rise in premium costs in the past year, and just 13 states saw rates fall.

Rates jumped highest in Louisiana, up a scorching 42%. On the other hand, Maryland led the way with the largest decline in car insurance costs, 9%.

Overall, rates are lowest in New Hampshire.

Getting lower car insurance rates

Regardless of your age, you can almost always get a better deal on car insurance if you look around and comparison shop. While you can do such shopping on your own, using a service like The Zebra might be easier. These services gather quotes for you so you can pick the best rate.

For more help in cutting auto insurance costs, be sure to read: