| May 2, 2014

Sex, Age and Marital Status Matter to Save on Car Insurance

Want to cut your car insurance rates? Get married or get older. Here are other ways to save…

It doesn’t pay to be young when it comes to car insurance. Here’s some proof: A 25-year-old single male pays an average of 49 percent less for car insurance than a 20-year-old single male. It’s the same for women – a 25-year-old single woman pays 39 percent less than 20-year-old single woman. But your average car insurance rates fall each year until your 60.

That’s according to a new study by InsuranceQuotes.com. Sex and marital status also come into play.

Sex

The average single 20-year-old woman pays 23 percent less than the average single 20-year-old man for the same policy. That chasm shrinks to four percent by the age of 25 and from ages 30 to 65 a man’s premiums are actually lower than a woman’s.

Marital status

With car insurance it pays to get married when you’re young. The average married 20-year-old female pays 28 percent less for car insurance than the average single 20-year-old female. With men, a married 20-year-old man pays 24 percent less than a single 20-year-old man. By age 25 married women pay seven percent less than single women and married men pay nine percent less.

Save on car insurance

There are ways to save money despite your age, sex and marital status. Laura Adams, InsuranceQuotes.com’s senior analyst recommends the following…

“In addition to regularly comparing at least three quotes from different insurers, consumers should review potential discounts with their current insurer. This is even more important for younger drivers because they tend to pay the highest rates. Consider things like good student discounts, avoiding small claims and bundling your car and renter’s insurance policies with the same carrier.”

Gary Herman, President of Consolidated Credit, has another valuable tip, one that many people don’t know about…

“Most states in the U.S. allow car insurance companies to investigate something called your credit-based insurance score. The score analyzes specific elements of a person’s credit history to predict if a consumer will have an insurance loss. How much debt you owe and missed payments are just a couple factors calculated into this score. If you have a poor score your insurance rates could be higher. It’s just another reason why you should be vigilant with your finances.”

For more tips on how to reduce your transportation costs, visit Consolidated Credit’s section on cutting car costs.

 

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive