I heard insurance goes down as you age?

General
1

I do not have a driving record here because I am from out of state; back home, cars were considered luxury items and were subject to 100% tax. I am a 35-year-old man with a licence that I obtained in September of last year. I was quoted 255 a month for a new car this June, and I have no accidents, claims, or tickets. However, when I renewed my policy, Geico increased my premium by 10%. Why is that?

Since they only lasted a short while, I assumed they should at least remain where they were. I thought they should decrease as you mature. I tried Progressive and State Farm, and they all quoted more than $350 per month, so I suppose I would have to stick with Geico. I just wonder what the reason is for raising 10% for nothing. Location: Houston

Thank you so much

2

Auto insurance rates often decrease as you move out of high-risk age groups, particularly after age 25, provided you maintain a good driving record. Mature drivers are generally seen as less risky compared to younger, less experienced drivers.

3

All around the nation, rates are rising for everyone. 10% is actually pretty impressive; I’ve seen people rise from 50% to 100%.
In terms of age, you are still seen as having obtained your license recently, so although you may be older, you also have less experience. In general, I would say good job on receiving only a 10% rate rise; there are older, more experienced people who would be happy with a little 10%.