Why Do Auto Insurance Rates Change With Age?

In this economy, you always want to make sure you are getting the best deal possible. Because the nature of car insurance makes it a legal necessity, it is especially important that you get a great deal on your car insurance. One of the tricky aspects of car insurance, though, is how rates can seem to change simply because of your age. At Gallina and Sons, serving Pittsburgh, PA, we know that you need solid insurance information in order to make solid insurance choices. Keep reading to better understand why insurance rates change with age. 

What’s Age Got to Do With It?

Insurance rates are determined based on risk factors. In order to understand risk factors, insurance companies must research a great deal of information concerning auto accidents and who is involved in those accidents. Over the year’s insurance companies have discovered that age is a very significant factor in car accidents. For this reason, age often plays a significant part in determining your risk factor and that risk factor will determine your insurance rate. 

What To Expect 

Based on years of research, insurance companies have determined that young drivers are the most at-risk drivers on the road. Insurance rates for this age group will often be much higher. With age and a good driving record, however, these rates will come down. Another age group which has been identified as higher risk is elderly drivers. For this reason, insurance rates will often start to rise again after age 50. 

In order to keep your rates as low as possible, it is important to always practice safe driving and avoid speeding and traffic violations.

If you would like to learn more about insurance rates, please contact our office at Gallina and Sons, serving Pittsburgh, PA. We will be happy to answer your questions today.