At what age is car insurance most expensive?
18-year-old drivers pay the highest car insurance premiums out of the age groups Bankrate analyzed. Males may expect to pay $5,694 per year for full coverage, and females, on average, pay $4,964 per year.
Does car insurance premium decrease with age?
For third party, fire and theft plans, we found that insurers tend to charge the highest premiums for cars under the age of 10; premiums fall once cars hit 10 years of age, and then begin to slowly increase again as the car ages.
What age has the lowest premium rate for vehicle insurance?
Once drivers reach age 50, they'll see their best rates. Around age 60, however, auto insurance costs begin to increase and compare to what drivers see in their 40s.