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Insurance companies typically charge higher rates for drivers under 25 based on statistical data showing a significantly higher risk of accidents and insurance claims for this age group.
Senior drivers often enjoy lower insurance rates than younger drivers until around age 70. After that, Afilalo says, “rates can tick up for drivers in their 70s and 80s due to a slight increase ...
State. Average Monthly Rate: Minimum Coverage. Average Monthly Rate: Standard Coverage. Average Monthly Rate. Michigan. $151. $522. $481. New Jersey. $120. $390. $360
In 2019, drivers 65 years and older accounted for 8,760 motor vehicle traffic deaths, and 205,691 non-fatal accidents. [4] Due to their physical frailty, older drivers are more likely to be injured in an accident and more likely to die of that injury.
It is projected that car insurance rates will experience a further increase in 2024. If you're looking to reduce your car insurance expenses in 2024, there are several choices available.
More accidents, drivers going faster, ... What about homeowner insurance rates? The big 10 carriers in Ohio raised homeowner rates 3.8% last year, more modest than auto rates, but still the ...
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