Have you ever wondered how insurance companies calculate car insurance rates? An insurance company factors in many details when calculating a quote, and one of these factors is age. Your age will play a role in the amount you pay for your insurance, and there is nothing you can do to change this. Here are several things you should understand about age and its effects on auto insurance rates.
Different ages have different risks
Insurance companies are great at calculating risk for drivers, and one of the factors used for this purpose is age. By using statistical information, insurance companies have determined that age has a lot to do with risk, and there are certain categories of age groups that have much higher risk levels. Because of this, insurance companies always factor in a person's age when they are asked for a quote for coverage.
There are two high-risk age categories
There are two high-risk age categories insurance companies use, and the first is people under the age of 25. The other high-risk age group is people over the age of 65. If you are 25 to 65 years old, you are in the lowest-risk category for auto insurance rates when it comes to age.
People who are under 25 are considered inexperienced drivers, and they are more likely to get into accidents than people who are over this age. People who are over 65 are considered high-risk drivers for different reasons, yet they are also at a higher risk for getting into accidents. Some reasons for this include impaired vision and poor reflexes.
Maximize the control you have for getting lower rates
There is not a lot you can do about your age, but there might be other things you can do to lower your payments. One of the best things to do is drive safely. If you are a safe driver and can avoid getting tickets and getting into accidents, you will be able to keep your driving record clean. This will help you save money on insurance. You may also be able to cut your costs by taking a driver's education course, and there are other options too. You can talk to an agent to learn more about these.
While there is nothing you can do to instantly change your age so you are in a lower-risk category, but there are other ways you can keep your rates low. Contact an insurance company today if you would like to learn more about auto insurance quotes.
For more information, you will want to check out a website such as http://www.coastcompins.com.