October 18, 2011

Car Insurance Myths

Car insurance has many factors that lower your premiums after a certain age. Quotes often become cheaper after the driver turns 30 years old. However, the main factor is their driving record.
Most drivers will see an insurance rate drop at 25 with preferred discounts that can reduce their premium cost per month.
Although at any given age, a policyholder can see an instant rate reduction, prices are not based on age, but on the amount of years they’ve been licensed. For example, a 25-year-old who just got their license and purchases a policy are more likely to be quoted a higher rate than someone younger, say 22, who has been driving since the age of 16.
Once a driver hits three years licensed, they usually get a discount, since they can qualify for a “good driver discount” given that their license is clean, meaning no violations. If there is something to look forward to as a young driver, hitting three years licensed should be it. Auto insurance can significantly go down with the application of a good driver discount since it can range in the area of 20 percent.
So does it really get cheaper for your car? Each provider is different, and you can get lower rates based on your driving experience. It really doesn’t have anything to do with how old you are, but how safe of a driving record you have.

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