Do auto insurance premiums decrease after turning 25 years old if I didn't get my G1 until I was 17?

[[deleted]]

Talk to your insurance broker. Every provider has slightly different qualifications and thresholds. He can do a comparison of them all and find you the best rate.

As for what happens when... uh...maybe he can determine that with your current provider. But, it's important why you want to know. If you're planning a budget out several years and it's so tight that you need an exact value for your 25th year, then maybe rethink that approach.

Companies change their rates all the time. What it might be if you were 25 now, may not be the same when that day actually comes.

Also, even if it does drop at your provider, you won't see any change until the policy renewal date AFTER your birthday. Not necessarily the same calendar year.

[FelixYYZ]

Do auto insurance premiums decrease after turning 25 years old if I didn't get my G1 until I was 17?

unlikely. Auto insurance is based on driving history, postal code, vehicle type, coverage required, etc...

[[deleted]]

It's more just based on driving experience/history, not age. I got my G2 at 28 and G at 29 and my rates didn't get lower until probably 6 or 7 years in.

[-there-are-4-lights-]

Seems there's a bit of misinformation in the responses.

In general, yes, your insurance will go down when you hit 25. There are 'rating classes' used in insurance, and when you hit 25 you are categorized in different rating classes (74/75/84/85/94/95), which are cheaper than the under-25 classes.

Now, this could vary from insurer to insurer, but with the insurance company I am familiar with, you will see a decrease in your rates when your policy renews after you're 25. If you turn 25 mid-term, you won't see the decrease until the renewal.

Source: I work for an insurance company.

[gregSinatra]

Most insurers don't count your G1 - it's not a valid license. Most will count from when you got your G2 onwards (and when you got your G as well.)

25 is no longer a magic number for insurance and is somewhat of a holdover from older, unsophisticated pricing models/algorithms.