Just making this change can drop your annual premium by up to $89 or more. Updating your status from single to married can significantly lower your premium. Once you get married, if you haven't already added your spouse to your policy, call your insurance company and add them. To exclude your roommate from your policy, depending on the insurer, you might have to provide documentation showing that they have their own insurance policy. To cover yourself and your roommate, you can add each other to your policies. If your roommate is not listed, you might have to exclude them in writing. To do this, they often require roommates who share a vehicle to have all parties listed on the policy. Insurance companies often assume that roommates allow each other to drive their vehicles and want to make sure this extra risk is covered. How Do Life Events Affect Auto Insurance Premiums?Ĭertain life events can either raise or lower your insurance rates, especially if you are under 25. The average 6-month premium for young male drivers from the top insurance companies You can start with GEICO, but remember to look at other companies' rates to make sure you are getting the best possible premium. Here is a list of the top companies to use as a starting point for your search for cheaper car insurance. When you look at the top five auto insurance companies, GEICO offers the cheapest premium rates for male drivers who are between 20 and 25 years old. Here's a look at some companies that offer the c heapest car insurance for under 25 male drivers, and some tips for finding additional discounts. As they get older, the differences in the premium amounts even out, but it is more difficult for young male drivers to find cheap auto insurance. Because insurers consider males high risk, they pay higher premiums than female drivers in the same age group. Young male drivers between the ages of 20 and 25 pay an average of $386 more every six months than any other driver in the U.S. What Is The Cheapest Car Insurance For Male Drivers Between 20 and 25 Years Old? The average 6-month premium for young adult drivers varies depending on the insurance company. Insurance rates and premiums are confusing, so here are some tips for sorting it all out. Whether you have your own policy or remain on your parents', companies will often lower premiums when you reach 20. The Best Car Insurance For New Drivers Age 20-25Īccording to the auto insurance industry, drivers in their 20s are less of a risk than teen drivers. To find the cheapest car insurance for drivers under 25, you might have to do some research and take advantage of any available discounts. While age does not affect the type of car insurance you can get, it is a factor when it comes to the premium.
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