LOS ANGELES, July 25, 2019 /PRNewswire-PRWeb/ -- Compare-autoinsurance.org has launched a new blog post that explains why drivers in their 50s are paying more or less on their car insurance premiums.
For more info and free quotes, visit https://compare-autoinsurance.org/what-are-the-car-insurance-costs-for-drivers-in-their-50s/
The period of a driver's life when car insurance is the cheapest is probably when that person is in his 50s. Many persons that are in their 50s are at the peak of their careers, they paid off their mortgage, and they are planning their retirement. Also, this is the period when most drivers consider that car insurance is the cheapest. However, not all drivers who are in their 50s pay cheaper car insurance premiums.
Car insurance might seem cheaper for drivers in their 50s for the following reasons:
- They have a good driving history. Everyone knows that a good driver can get a discount for having a clean driving record. Usually, insurers are offering the good driver discount that is between 10% to 30% to drivers that manage to keep a clean driving record for a period that is between 3 to 5 years. Most drivers that are in their 50s are responsible drivers and have many years of clean driving.
- Good credit score. The credit score can seriously affect the price of car insurance. Drivers who are in their 50s are likely to have a good or excellent credit score. Also, many of them have had a good job for several years and they don't have debts.
The reasons why car insurance is not cheaper for drivers in their 50s:
- Zip code. Drivers will pay more on insurance if they are living in an area with a high number of accidents, thefts, or vandalism. Even drivers with perfect driving records will pay more on insurance if they live in one of those areas.
- Gender. Men are more likely to be involved in a car accident, or in a traffic violation like speeding or drunk driving. Besides that, male drivers are more likely to drive riskier vehicles like sports cars, exotic cars, or trucks.
- Car Type. Drivers in their 50s have enough savings to afford to buy a nicer vehicle. However, newer car models are more expensive to insure.
- Adding a young driver to the policy. Most drivers that are in their 50s are having children that recently got their driving license. Adding a teen driver to a policy can make the insurance premiums to be doubled.
- Bad driving or poor credit score. Not all drivers who are in their 50s have a good driving record or an excellent credit score. For this reason, their insurance rates are higher.
For additional info, money-saving tips and free car insurance quotes, visit https://compare-autoinsurance.org/
Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
SOURCE Compare-Autoinsurance.org
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