Auto insurance is a unique monthly expense for many reasons. One of the most obvious reasons this expense is unique is because it is often required by state laws in order to operate a vehicle. It is one of the few expenses we are mandated to take on each month. Another unique thing about auto insurance is that the cost of insurance can vary greatly from person to person. We do not often see this with many of our other monthly expenses. Factors such as age can have a huge effect on your monthly auto insurance. At Kingdom Tree Insurance Group, serving Tallahassee, FL, we want to help you better understand your auto insurance so that you can make the best insurance choices. Keep reading to find out how age affects auto insurance. 

How Auto Insurance Works

Auto insurance rates are based on risk factors. Insurance companies assess risk factors by compiling data of millions of drivers across the country. This data allows the insurance companies to determine which types of drivers pose the greatest or least risks. Auto rates are then set based on consistent trends concerning age and even gender. 

How Does Age Affect Auto Insurance 

Generally speaking the younger the driver the more of a risk they pose when they are on the road. For this reason, insurance rates for young drivers are usually much higher. As a driver ages and matures, these rates will slowly start coming down. Most drivers see their lowest rates around the age of 30-40.

As drivers begin to age, however, data shows that risk factors begin to go up again. For this reason, aging drivers will begin to see their rates start to rise. 

The best way to combat this is by always keeping a great driving record. Good individual drivers can always get a great deal on their auto insurance. 

If you would like to learn more about auto insurance, please call our staff today at Kingdom Tree Insurance Group, serving Tallahassee, FL.