Car insurance companies make their risk assessment on every driver by comparing him/her with the perfect driver to determine how much risk you pose to them. Usually women drivers pay 50% less than their male counterparts for car insurance as they are considered as safe drivers in the US. In the young drivers category males are considered to belong to the high risk category than females. So if you are a male less than twenty five in all probability you must be prepared to pay higher rates.
Car insurance is probably a significant part of your budget. If you own or drive a car you could be paying very high rates because of the ages of the drivers in your household. Drivers under the age of twenty five and those over the age of sixty are considered to present a higher risk than other drivers, which usually leads to higher car insurance rates. In the under 25 category males are considered to belong to the more risky category than females do. So if you are a male less than twenty five years of age you should be prepared to pay higher rates.
Age of the driver and Car Insurance
It is understood that the driver’s age factor plays a very vital role in the car insurance rate. It is very difficult to get cheap rates, when you are in the age group of 16-24. Premiums for young drivers under twenty-five are double or even more. The reason is the common belief that young drivers are rather inexperienced and aggressive and, therefore, present a higher risk. Senior citizens are also at increased risks, because of their age and health. Seniors also drive very less miles, the fact that contributes to low risk factor for insurance providers and they get lower premium rates for their car insurance. Insurance companies rate the drivers above 25 to be safe as they are more responsible towards their families.
The drivers of the young age group should take the advantage of all available opportunities to reduce the car insurance rate to the maximum extent. The various driver training courses help them to get automatic discount off insurance rates. They also help the young drivers how to avoid crashes and tickets so that they can avoid the insurance rate going very high against their age group.
Both age and sex factors play a vital role in fixing the car insurance rates. The best way for drivers to save money is to shop for car insurance online, to find very attractive rates based on their driving track record and availing the most number of discounts.