Average car insurance quotes by age
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Some things you can't controlSome costs are baked into your lifetime of car insurance. You will pay more when you are young. You will pay more if you continue to drive when you are very old. (If you drive to the ripe old age of 102, your lifetime of car insurance will cost you $131,000.) Surprisingly, being a woman doesn't pay a huge dividend over a lifetime when it comes to car insurance. Women paid about $1,000 less, according to the analysis.
Ultimately, though, the choices you make as a driver and consumer shape your insurance destiny.Where you live makes a big difference, largely because state laws and legal climates vary so much. Drivers in Arizona and Maine have the cheapest car insurance. The most expensive? Michigan and Louisiana. You may not move for bargain car insurance, but you can choose the right neighborhood. Insurance companies look at claims in your area as they price your coverage. (See how your ZIP code compares with CarInsurance.com's “ Nosy Neighbor” tool.”)
And some things you can"Driving safely, getting very few tickets and being involved in a minimum number of accidents over your lifetime will have a big effect on your premiums,” says Mario Morales, spokesperson for MetLife Auto & Home. “Managing your credit responsibly is also key." Bad drivers pay a penalty for their behavior. Get a ticket every three years and you will pay a total of $102,000. Good credit, on the other hand, can save you as much as $22,000 over your insurance lifetime. American Family spokesperson Janet Masters reiterates the importance of your credit rating, "There is very strong statistical evidence that credit history can help an insurer accurately predict the likelihood of insurance claims. Almost every insurance company currently uses credit-based insurance scores. Maintaining a solid credit history can lead to lower insurance costs." Both Masters and Morales advise drivers to carry the highest deductibles they can afford. Morales points out that while the standard deductible used to be $250 to $500 it has risen to $1,000 in recent years. (See “ Will higher deductibles save you money?”) It's not a bad idea to routinely double-check your savings and discounts eligibility, either.
That's too much! I'll give up driving!What else could you do with that $94,000 if you spent your life walking, taking public transportation or mooching rides?
- You could give a 16GB iPad to 188 of your closest friends, or an iPad Mini to 285 random strangers.
- You could buy a house in Niagara Falls, N.Y., where the average listing is $60,820. You will have almost $35,000 left over for furniture and improvements.
- You could buy yourself a Porsche 911 Cabriolet and still have a few hundred dollars left over.