I recently saw this chart from Insurance.com that shows car-insurance rates by age and thought it was interesting, so I thought I would pass it along.
The rates shown below are for a one-person policy with coverage of $100,000 bodily injury per person per accident, $300,000 bodily injury for accident, $100,000 property damage per accident.
Collision and comprehensive coverage were not included.
Average Auto Rates By Age
|Age group||Average rate|
|75 and up||$1,203|
Where do you stand?
Looking at the average rates for my age, I am feeling pretty good. We are paying about half that. I wrote about how we saved $330/yr by switching our car insurance company and then 6 months later we saved another $200 – totaling a savings of $530/year.
The lesson I learned was it is a good idea to compare car insurance rates at least every couple years. But if you are 17 and trying to save money on car insurance – ride the bus.