Discover car insurance discounts and estimate your rates once you've moved beyond young driver status.
The average 30-year-old pays $770 for a six-month car insurance policy. This is slightly less than average auto insurance rate for all American drivers ($777, or about $126 per month). Let's highlight some cheap car insurance companies for drivers in their 30s and evaluate the important policy decisions you should make as you age.
If you qualify, USAA has the cheapest rates for drivers in their 30s. USAA caters to military members and their families, and is not available to everyone. GEICO's premiums for 30-year-old drivers are approximately $10 more per month than USAA's, and don't come with stringent membership requirements.
|Insurer||Average Rates (Six Months)|
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One question you'll need to answer when purchasing a car insurance policy is how many years of driving experience you have. Because your driving experience is a major insurance rating factor, most companies charge inexperienced drivers more to offset the additional risk of insuring them. In the estimation of an insurance company, the less experience a driver has, the more likely they are to get into an accident and require a claim payout. As you gain more experience behind the wheel and keep a clean driving record, your rates will become more affordable. Below are some tips for first-time drivers seeking affordable car insurance.
Auto insurance premiums may vary significantly by insurance company. Although no company will see your lack of driving experience positively, not all will charge you equally. The only way to ensure you're getting the best rate with your driving record is to shop around every time your policy renews (typically every six months).
The general rule of thumb in the insurance world is if you can pay for damages yourself, do it. Your insurance company will add a surcharge to your premium for three to five years after an at-fault accident. While it varies by state and by the company, the average three-year surcharge for an at-fault is $1,700. You can determine if you should file a claim using our guide here.
If your vehicle is worth less than $4,000, you may not need to add collision and comprehensive coverages to your insurance policy. These coverages are designed to protect the value of your vehicle but are expensive coverage options. If your vehicle isn't worth much, you are paying for coverage you do not need. Use online resources such as Kelley Blue Book and NADA online to determine the value of your vehicle.
As you mature and complete new life events, your car insurance rates change. Adding new vehicles, drivers, or new lines of insurance comes with policy implications. Let's explore.
While no one takes the same path in life, many people in their 30s get married, and this can impact your premium for the better. When a single person marries, his or her annual premium drops statistically by about 5.6% or around $74 per year. That’s because insurance companies have found that married people file less claims than single people. Moreover, they see that married people are sharing the responsibility of driving which, in essence, cuts driving time of individual cars in half.
|Marital Status||Average Annual Premium|
Find additional information on car insurance for married couples here.
Upgrading from renting a place to buying your own home can save you around $138/year, for a couple of reasons. We’re assuming that you bundled your home and auto insurance into the same company. This not only makes things a little easier: your business goes through one agent or company, but bundling can also earn you a profitable multi-policy discount. Insurance companies look at those who own a home to be more financially stable and thus statistically less likely to file a claim.
|Homeowner Status||Average Annual Savings on Car Insurance|
|Renter w/ Multi-Policy||$77|
|Condo Owner w/ Multi-Polcy||$120|
|Homeowner w/ Multi-Policy||$138|
Unless your child is of driving age, simply having a kid won’t impact your premium. However, if you upgrade your two-door sedan to a minivan with additional coverage, your insurance premium might change. If you were to trade-in your Honda Civic (car) for a Honda Odyssey (minivan) in order to accommodate kids, your average annual premium would drop by $210. If minivans aren’t your thing, you can still expect your premium to decrease by an average of $139 when you swap out your car for a family-friendly SUV.