pretty much what the title says, I'm paying 503$ a month in car insurance for liability and comprehensive, I'm 20 and live in Canada Alberta, I heard from my father and friends when you turn 25 – 26 insurance becomes significantly cheaper, I am curious if this is because, at that point in life, I would have had spent enough years being insured that it would become cheaper or if it is simply due to my age, because if it's my age then I'm going to have my father insure my car for hundreds of dollars less a month and just have me on as a driver
Does auto insurance become cheaper at 25 from age or years spent insured
byu/Accurate-Drama-228 inInsurance
Posted by Accurate-Drama-228
4 Comments
Doubt it will be cheaper … insurance costs depends on age , where u live and type of car and of course any infractions
I don’t know about Canada. For my company in the USA specifically, it’s actually both. Long insurance history is always a plus, age is a plus for the most part until you become really old then you start going back down (like well past 75 iirc)
Mine gets more expensive every year
That’s what it did for me but my car had full coverage and I did drivers training. I was paying $450 a month and after 25 it dropped to $260. This was 15 years ago and I was the only one on the insurance. Find out if you do go on your Dad’s that it will help you when you go on your own. I pay the same now for basic insurance then when I had a full coverage vehicle in 2010. I have no claims or tickets either in 20 years of driving. It’s also going to come down to what you drive, where you live, if you have any claims or accidents. Shop around and talk to brokers. Companies are saying rates are going up because of their payouts. They need to make money right.