Car insurance companies in the U.S. do not offer dash cam discounts. Insurers in other countries provide dash cam insurance discounts, but dash cam technology is still relatively new, and insurance companies in the U.S. do not factor it in to premiums.
Insurance companies might begin offering dash cam discounts in the future. For example, New York’s legislature is considering a bill that would require insurers to give non-commercial vehicles with dash cams a 5% discount. And many dash cam companies argue that the cameras promote safe driving, decrease insurance fraud, and prevent crimes like theft, vandalism, and hit-and-run.
Even though dash cams don’t lead to a direct discount, a dash cam could still be a good investment if you live in a particularly high-risk area or are worried about insurance fraud. Similarly, evidence from dash cams could support your case if you’re disputing a ticket or trying to prove that another driver caused an accident.
You can get a good student discount for car insurance by being a high school or college student with at least a B grade point average. All of the 10 largest insurance companies offer a good student discount, and qualifications are typically the same between insurers. Exact discount amounts may vary by company and state, however. For example, State Farm's good student discount can help you save up to 25% on your premium.… read full answer
Geico does not currently offer a dash cam discount. Geico has discounts for cars with certain safety features, but a dash cam is not one of them. Features like air bags, anti-lock brakes, anti-theft systems, and daytime running lights earn discounts on various coverage types. Anti-lock brakes, for example, could save you 5% on collision coverage.… read full answer
No major U.S. insurance company has a discount for drivers with a dash cam in their car. Instead, insurers are using telematics technology. This electronically monitors certain driving habits, usually through a smartphone app. Geico launched its telematics program in 2019 and is currently testing the app in limited markets.
Geico’s DriveEasy app offers feedback about your driving and gives an overall score to set your discount. Right now, the app monitors distracted driving, hard braking, time of day, and total miles logged. The information from the app won’t be used to raise your rate, but your discount can be lowered based on your score. Geico can also use the app to help investigate any claims.
The cost of car insurance typically goes down the most between the ages of 18 and 19, when rates drop by about 25% on average. Car insurance premiums generally continue to go down each year until age 25, when rates begin to level off for the next few decades. When drivers turn 25 years old, they can expect a discount of about 14%.… read full answer
Note: The table above shows average annual rates for minimum coverage across all 50 states.
Around middle age, rates may begin to creep back up. This is because middle-aged drivers tend to insure newer, nicer cars and begin to add their children to the policy, increasing the average rate for this age range overall. Individual rates also start to go up again between the ages of 65 and 75 because senior drivers have a higher risk of accidents than middle-aged drivers.
Why Age Affects Car Insurance
Age affects car insurance rates because it’s an indicator of a driver’s risk to an insurance company. Young drivers are statistically more likely to get into a car accident than older, more experienced drivers. As a result, they’re considered high-risk and are more expensive to insure.
The risk for the insurer and the cost for the insured then generally decline as drivers age and gain experience. Once drivers pass the age of 65, however, their risk starts to go up again. Not only are senior drivers more likely to get into an accident than middle-aged drivers, but they’re also more likely to be injured as a result.
States Where Age Does Not Affect Rates
Although most people in the U.S. will find their prices change according to this timeline, there are a few states in which insurers can’t use age to determine your rate. In California, Hawaii, and Massachusetts, age won’t have a direct effect on how much you pay for car insurance. Other factors will still have an impact, though. Your driving record, credit score, and marital status can all affect your final premium.
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