When a male turns 21 does the cost of their auto insurance go down?
J. S asked:
He has had no accidents or tickets, but does need full coverage because he’s paying on his car. Thanks
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Possibly, but most insurance companies are more concerned with how long you’ve been driving (and how many accidents you’ve had and how long since the last one) than they are with age.
Fortunately as you get older, you’ve generally got more time behind the wheel.
IIRC it’s something like 5 or 7 years where you’ll see a significant decrease.
I think the magic number is 25.
yes. both males and females rates go down when they turn 21, then it goes down again when they turn 24 or 25 (i cant remember which one)
The “big” rate decrease comes at the age 25. You may see periodic rate reductions at other ages still
In the UK its 25 for most companies to reduce premiums. On higher performance cars/ bikes it can be 35.
Yes.. Well if you are from New Zealand then yes..A lot actually… there is a high insurance rate for people under 21 because they are seen as more of a risk on the road, and may cause more accidents.
Hope my answer helps,
Dr. C
Yes,it is true for both men and women but it will decrease more at the age of 25 years.
depends on how many accidents you have had. but……..
my partner and i own an Evo 9, he is 23, on the other hand his friend owns a Subaru Impreza WRX, he is also 23
we pay less than his friend, wholely and solely because not as many people (in Aus) own Evo 9’s so therefore there are not as many people crashing in them but for the WRX every young rev head has got 1 mainly because they are more affordable. (well they actually dont make evo 9 anymore) but yeah.
Usually at age 25
Possible, but the big drop comes at age 25. Why? Statistics say that is the age when drivers get safer.
you need to carry liability insurance all the time, and if you’ve paid off your car you don’t need the full coverage, its up to you.
No. Usually it’s 25 or so.
No, it usually goes down at age 25.