Average Car Insurance Rates by Age

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
16-19 $2,999
20-24 $2,040
25-29 $1,707
30-34 $1,591
35-39 $1,610
40-44 $1,603
45-49 $1,478
50-54 $1,284
55-59 $1,214
60-64 $1,169
65-69 $1,244
70-74 $1,187
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. ;)

















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7 Comments
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  1. Wow, I think we have a really good rate. My wife and I together pay $1,200 a year total (2 drivers on 2 vehicles). The average rate for one in our age group is $1,707, so we smoke it!

  2. Curious about your idea of “bundling” homeowner, auto, etc with a single insurer. I do this and it saves a lot. The problem is that they don’t expire at the same time, so switching is more complicated.

  3. Wow, these rate averages are a good measuring tool! I live in Boca Raton, FL so I think our rates are naturally a little higher, but I will definitely look into some more insurance companies soon.

  4. Wife and I pay about $1,200 a year, 2 drivers 2 vehicles, full coverage. $500 collision dedubtible, $250 comprehensive.

  5. I remember paying $4,500/year for full-coverage when I was in the 20-24 age bracket! I guess that’s what happens when you live in Jersey.

  6. So if you’re 17 and you ride the bus until you are 25, and start driving on your 25th birthday, somehow magically your driver risk dropped $1200/year on your birthday?

    • @Terry, The actuaries do all that work and get paid nice money to figure out the averages – while they surely aren’t perfect, insurance companies depend on those figures to come out profitable…

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