Who typically pays the highest auto insurance premiums?

Which group of people pay the highest auto insurance premiums?

Age and gender.

Teens are statistically more likely to get in accidents and file claims than any other age group due to their lack of driving experience and because of this, they pay the highest car insurance rates of anyone.

Do Asians pay more for auto insurance?

Asians pay approximately $820 per year for car insurance, on average, while the average American driver pays approximately $910 per year.

Who pays more for car insurance married or single?

On average, a married driver pays $160 less per year for car insurance than does a single, unmarried driver. While being married doesn’t necessarily make you a better driver, historical data show married couples are more likely to share driving responsibilities than single people.

Why do you think that 16 18 year old drivers pay so much more for auto insurance?

Young drivers are a statistical financial risk to insurers. The more likely young drivers are to get into accidents, then the more likely they are to cost the insurance company money.

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At what age does car insurance go down?

If you’re wondering what age car insurance goes down for male drivers, the answer is commonly 25. For the most part, female drivers pay less for car insurance than male drivers. This difference can be more pronounced among younger drivers than among drivers in their 30s and 40s.

Does age and gender affect insurance rates?

When it comes to buying car insurance, age and gender can impact rates. Women tend to pay less for car insurance than men. And it should come as no surprise that young drivers pay the most. Age correlates with driving experience and the risk of getting into a car accident.

Which of the following drivers would most likely pay the most for auto insurance?

Younger drivers, especially males, between the ages of 16 and 25 are more likely to get in accidents, and therefore pay higher insurance premiums.

Does race play a role in car insurance?

Yes. An analysis released in 2017 by Consumer Reports and ProPublica found that in California, Illinois, Missouri, and Texas, premiums are still higher in minority neighborhoods in general, not just predominantly Black neighborhoods.