Yes, men pay an average of 6% more for car insurance than women. For example, a policy that fulfills state minimum coverage requirements for a 45-year-old woman costs $669 per year, while the same policy for a 45-year-old man costs $716. However, rates vary by individual driver and by age group. Male teen drivers typically pay over 10% more than female teens, while some older female drivers will pay more than their male counterparts.
In general, men pay more for car insurance than women in states where it is permitted because they are more likely to cost insurers money. Hawaii, California, Massachusetts, Michigan, Montana, Pennsylvania, and North Carolina have banned the use of gender in determining car insurance premiums.
Why Men Pay More for Car Insurance than Women
Men drive more than women, on average, and are also more likely to die in a car accident.
Speeding is more commonly a factor in fatal accidents where men were driving.
Men are more likely to die in a car accident while driving drunk.
Car insurance rates begin to go down for young female drivers at age 21, usually. When men or women turn 25, their statistical risk of being in an accident goes way down. However, many insurance companies begin to reduce premiums for female drivers four years earlier. From the ages of 21 to 25, female drivers’ rates gradually drop nearly 25%, according to studies. Women’s rates continue to decrease after age 25, but more gradually, until they level off between 50 and 60 years old.… read full answer
Between the ages of 65 and 75 (depending on your insurer), rates start to rise again for both women and men. Studies by the Centers for Disease Control and Prevention show that senior drivers have slower reflexes, which causes more crashes. Also, the risk of being injured or killed in an auto accident increases as you age. There is more risk of claims for your insurer, resulting in higher costs for you.
Although most female drivers in the U.S. will see their insurance costs rise and fall on this schedule, three states don’t allow insurers to use age as a rating factor—California, Hawaii, and Massachusetts. Even removing this significant factor doesn’t mean premiums will remain level over your lifetime, however. Changes in location, coverage levels, driving record, type of car, credit rating, and marital status are still likely to push your costs up and down over time.
Car insurance goes down by 15% for male drivers at age 25 and even goes down every year until age 25. Once men are in their mid-twenties, rates begin to decrease more gradually and plateau through middle age. Premiums won’t start going up again until men are about 65 to 75 years old. Seniors, like young adults, have a higher level of risk for accidents and pay more for insurance.… read full answer
Male and female drivers both tend to see rates change according to age on this schedule, but men under the age of 25 usually pay more for insurance than their female counterparts. In California, Hawaii and Massachusetts, however, neither men nor women will see rates change based on age. These states don’t allow insurers to use age as a factor for setting rates.
The following chart reflects rates for single male drivers in 10 zip codes for each state, with full coverage on a 2017 Honda Accord.
The average cost of car insurance for a 21-year-old is $104 per month, which is much higher than average compared to other age groups. Drivers who are 21 pay more for car insurance than older, more experienced drivers because insurers consider them to be high-risk, meaning they’re more likely to file a claim.… read full answer
Because the cost of coverage for 21-year-olds is so high, it’s important to shop around for multiple quotes before buying a policy. Some of the best car insurance companies for 21-year-old drivers are USAA, Travelers and Geico.
Cost of Car Insurance for a 21-Year-Old by Company
The exact cost of car insurance for a 21-year-old depends on a few factors, including their driving record, gender, and vehicle type. Additionally, whether a 21-year-old is buying their own policy or being added to their parents’ policy makes a difference.
Adding a 21-year-old to an existing policy will raise the premium by an average of 140% to 160%. But even with the added cost, it’s still a more cost-effective option than having the driver purchase their own policy.
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