Chart of the Week: Car Insurance Costs by Gender and Age

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Dec 19, 2018
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Insurance, Chart of the Week

From ValuePenguin

Questions:

  • How do you think auto insurance companies determine the premiums that they charge their customers? 
  • Why do you think 16 year old boys have insurance premiums that are $64 more per month than similarly aged girls? 
  • What is the percentage drop in premiums between the ages of 16 and 30 for men? for women? Why do you think there is such a large drop? 

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Looking for more charts for your students to analyze? Check out NGPF's Data Crunches! 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.