Does the Age of the Policy Holder Affect the Overall Premium of the Policy

Your auto insurance policy is going to be a tailor-made solution to insuring your vehicles and any drivers that might share the policy with you. Generally, one driver is designated as the policyholder and all other drivers on the policy are secondary policyholders or just drivers. For the main policyholder, their age does change the overall premiums for the entire policy. For those in the Greenwood Lake, NY area, the agents with Windermere Insurance can help to make your policy perfect.

The age of the main policy holder does, in fact, affect the overall premiums of the policy. A great example of this is an adult policyholder over the age of 50 with other drivers listed that are under the age of 25. Even though the drivers that are under the age of 25 are considered higher risk, the older driver’s age is going to help bring the overall cost of the policy down.

Even if the same drivers are listed, if the younger driver is listed as the main policy holder, the premiums for the same policy are going to be higher. You might have the same cars listed, the same drivers, and the same drivers, but the younger driver being listed as the main policy holder will drive up the premiums. This is just one reason that having younger drivers listed on their parent’s policy is far more cost effective than them getting their own policy when they get their license.

No matter what the situation, listing the older driver as the main policyholder is likely to help reduce overall premiums. For those that live in the Greenwood Lake, NY area, the agents with Windermere Insurance can help you sort your policy out to get the best rates possible.