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Auto Insurance 25 Year Milestone Analysis Revised

Posted By Jim On 11/21/2005 @ 4:09 pm In Insurance,Personal Finance | 2 Comments

We’ve all heard that the twenty-five year old milestone is the biggest deal in auto insurance. On that day you magically become safer and actuaries have tables and statistics proving this fact, otherwise auto insurance companies wouldn’t be giving you a discount. I invite you to review two posts in which I detail my insurance prices a month before I turned 25 [3] and the insurance prices a month after I turned 25 [4]. Essentially I concluded that you can expect somewhere in the realm of ten percent until I opened up my next Geico bill. My six month fee fell even more from $377.10 to $348.30 (7.6%) for a total fall of over 20%.

I didn’t comparison shop with other insurance companies because I felt they may give me the same results, no reason why they wouldn’t, and because it would take a while to compile the data.

Company Coverage Pre-25 Price Post-25 Price + 3 Months % Diff
Geico No C/C $436.60 $348.30 -20.2%
Full $959.50 $745.50 -22.3%

20% drop in auto insurance for turning twenty five (and waiting two months) would fall into the category of “big drop” in my book.


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[2] Email: mailto:?subject=http://www.bargaineering.com/articles/auto-insurance-25-year-milestone-revealed.html

[3] insurance prices a month before I turned 25: http://www.bargaineering.com/articles/car-insurance-milestone-at-age-25.html

[4] insurance prices a month after I turned 25: http://www.bargaineering.com/articles/auto-insurance-the-25-milestone.html

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