FRIDAY, JANUARY 18, 2013
 Insurance premiums paid on most covers usually increase as you grow older this is especially true for covers such as health insurance. However, when it comes to auto insurance things seem to go the other way. The insurance premium paid on most auto insurance covers gradually drop as you grow older.
Insurance firms rely on statistics from past data to determine the amount of premiums that should be paid by different age groups. The higher the number of accidents experienced by people in a certain age group the more the insurance premiums charged for people in that age group.
The age group charged the highest insurance premiums is the 16 to 18 age group. This is simply because most fatal accidents are caused by people between the ages of 16 and 18. After all, they are the youngest drivers on the road and have the least amount of driving experience.
The next age group is the 18 to 25 age group these drivers have relatively more driving experience hence a slightly lower premium is charged. A noticeable drop in premium occurs when you are between the ages of 25 and 40. Most people in this age group are considered experienced drivers, hence the significant drop in insurance premiums.
The lowest insurance premiums are paid by people between the ages of 40 and 60. Statistically, they cause the least number of accidents, as they have many years of driving experience and their bodies haven’t started to deteriorate due to old age.
Though insurance premiums drop with age, there are several things younger drivers can do in order to pay lower insurance premiums. The first thing you can do to pay lower insurance premiums is to maintain a good driving record. Insurance firms charge more insurance premiums for people with a bad driving record taking into account things like the number of traffic tickets, moving violations and the number of past accidents.
The second thing that could significantly lower auto insurance premiums for young drivers is a good student discount. Some insurance firms offer discounts on premiums for students with good grades in school. This is because they consider being a good student a sign of responsibility hence lowering your accident risk factor.
For more information on how age affects your Stafford VA car insurance premiums call Tabitha E Walker Insurance Agency now at 540-657-5633.
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