PFS Insurance Brokers Blog
Age is one of the most significant factors when deciding your car insurance rates. Statistics suggest that injuries, or moving breaches, are more likely to occur in some age groups. Find out more about how the qualities of your auto insurance are affected by your age.
Why Age Matters
Age is affected by factors that impair driving performance, such as inexperience and immaturity for young drivers, limited mobility, and diminished cognitive ability for older drivers. The incidence and severity of car accidents in the US are strongly associated with age.
Young drivers have the highest accident frequency, but seniors over the age of seventy-five have the worst accident rate per kilometer driven when calculated for distance traveled.
What Your Age Group Mean for Auto Insurance
Some age groups are statistically more likely to be involved in collisions, such as young drivers and older drivers. For this purpose, insurance companies charge more for the rates charged by the groups in question.
Typically, teenage and young adult drivers pay the highest insurance rates because they are involved in more accidents statistically than motorists in other age groups. Once you reach 25 and above, rates will decrease and stop decreasing once you reach old age, then the rate will go higher.
At Pro Financials & Insurance Services, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (708) 233-8870. Get your free quote today by CLICKING HERE.