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When Does Car Insurance Go Down for Males?

There are certain milestones that come up in every person’s life. First birthday, sweet sixteen, getting your driver’s license, voting for the first time, being able to legally drink, etc. These are all considered major events in a young adult life. Once a person reaches the age of 21 however, there is typically little to celebrate in terms of perks to reaching a certain age.

Some people like to look at turning 25 into a mild milestone. What happens at 25 you say? Well typically, your car insurance will go down. Wow! What an exciting day to look forward to, the day your insurance premiums might go down! I know right, you can barely contain the excitement. According to the folks over at insurance companies, 25 is a solid age to get out of the riskiest of risky drivers’ category. You have been out in the wild driving without your parents for quite a few years now. This should mean you are a more responsible and safe driver. Is that accurate? And does it mean your insurance will really be cheaper?

Not All Milestones Are Created Equal

This one is for the fellas out there. Perhaps you are a male, sitting there wondering what about for me? Is there a time when my insurance will go down, on account of being a man? It is worth noting that just by being male, you will be taxed much higher earlier on in your driving career. It is dependent on the policy and driver first but secondly based on gender. A new male driver will on average, pay higher premiums than a female. Insurance companies deem females to be safer drivers, with less risk-taking attributes. This is of course over a wide spectrum, with insurance companies casting a huge data network to make decisions.  So, a young male driver can expect their insurance to be a bit pricey. Especially over the ages of 16-24. A young male driver (16-24) in a similar city, driving a similar car, with the same policy coverage, can expect to pay up to 25% more than similarly aged females. Is there anything that can be done to close this gap in cost? It turns out that there is something that men can do, to get their car insurance rates down. Go ahead, take a guess. What could that thing be? Here is a hint, it takes a little time. Still don’t have it? OK, they need to turn 25!

So, Turning 25 Really Matters?

It is true, that men see a huge drop in rates after they turn 25. If you analyze insurance data, you will see a drop from the age of 16 to 25 on premium rates for male drivers. How large? Some industry data points to an almost 3-4 times drop in the total premium prices, for male drivers once they turn 25. A policy that cost a man $6,000 when he was 16, might only have cost a woman $5,000. Once that man turns 25 however, that same policy might only cost $1,500. Every insurance company will have specific policies based on the driver and the situation. The most important thing regardless of gender is to be a safe, cautious driver. Because men have seemed such risky drivers when they first start, it can be quite an additional expense to deal with. Luckily, once a certain age is reached the playing field gets level and you start to see prices level out with the driving ladies of the world.  One thing that binds us all entering the age of 25, is that our wallets will thank us no matter the gender.