You may wonder if you are paying too much for your car insurance or if yours is one of the average car insurance premiums average car insurance price for 25 year old. You may also wonder what factors affect your car insurance premiums. Type your ZIP code into on this page to compare car insurance rates now! Car insurance premiums are not black and white. There are many factors that affect rates including the following: vehicle type age gender marital status the state in which you reside credit scores driving records 1. Vehicle Type and Car Insurance Premiums Vehicle type plays a major role in determining car insurance premiums.
Another factor considered is who is driving the vehicle. Small vehicles are often purchased by young drivers, so although they are small, they cost more to insure than bigger vehicles, like minivans. The stereotypical driver of a small car is driving during busier times than the stay-at-home mom driving the minivan. Insurance can be as much as $2,800 a year, whereas a minivan or small sports utility vehicle will cost you approximately $1,000 a year. A small sedan’s average car insurance premium is about $1,300 a year. 2. Age and Car Insurance Premiums Age is a huge factor in calculating car insurance premiums.
are going to pay the most simply because of their lack of experience. Studies also prove that because of their inexperience, they are more likely to get in more car accidents than older drivers. Young drivers are going to pay almost double of what a middle-aged driver would pay in premiums. However, as our population continues to live longer, old age also becomes a factor in driving.
Premiums for the elderly are very similar to that of young drivers. In fact, often insurance companies drop coverage if a driver is over the age of 65. 3. Gender and Car Insurance Premiums Gender is another factor in determining car insurance premiums. Studies have shown that males ages 16 to 25 are more likely to get into a car accident, get DUIs, or receive traffic violations. The studies also reveal that males drive more than females and are often more aggressive and less fearful. Average are approximately 65% more expensive than for females. However, elderly women are considered to be a higher risk than elderly men.
4. Marital Status and Car Insurance Premiums Your marital status also plays a role in your premium. Married couples pay less than single individuals for car insurance. A married couple in California might pay $968 a year for car insurance for both individuals, but a single person pays $671 a year.
Studies have shown that individuals with good credit scores are less likely to be involved in accidents or to file insurance claims. Individuals with good credit scores can save up to 40% on their insurance premiums. 7. Driving Record and Insurance Premiums Driving record is one of the most important factors in determining your insurance premiums. The better your driving record is, the lower the premium because the lower the risk to the insurance company.