Drivers in their late teens and early 20s have the highest accident rates among all U.S. drivers. Naturally, young drivers typically have to pay more for their auto insurance in North Texas. Fortunately, young drivers will start to see their rates go down as they age. But when exactly does this rate reduction start? Here’s what you need to know.
Typically, drivers see the most significant insurance rate decrease when they turn 25. But are there opportunities to save before then? For instance, many drivers wonder if they will gain access to savings when they turn 21.
Fortunately, most auto insurers will gradually start to drop your premiums as soon as you exit your teens. This means that drivers will start to see small rate drops at age 20-24, with the most significant drop happening at age 25. Please keep in mind that these rate reductions only happen if you do not get into an accident, receive a moving violation, or file a claim during this time. Auto insurers will only reward responsible and safe drivers.
Because males are more likely to file a claim or get into an accident than female drivers, they tend to see less significant rate decreases. This is true even if the male driver has no history of reckless driving or insurance claims. Unfortunately, young male drivers will have to wait until they turn 25 to see a notable drop in their premiums.
This is what you need to know about saving on your auto insurance as you get older. Do you have further questions regarding your auto insurance in Carrollton, Texas? If so, then contact the experts at Mike Leonard Insurance Agency. Our dedicated team is eager to find you the right coverage from one of our many carriers including: Kemper, MetLife, Nationwide, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance.