(EMAILWIRE.COM, May 11, 2013 ) San Francisco, CA -- The United States Census Bureau has released data that shows a college graduate will near $2.1 million dollars over his or her lifetime. While many leave little left to be used miscellaneously thanks to groceries, mortgage payments, and so forth, there are usually only pennies left over. Those many of those pennies likely go toward car insurance.
Over a standard assumed driving lifetime, aged 16 to 78, the average individuals will end up spending $94,000 on insurance, according to the current data. The analysis used over 200,000 drivers and car insurance quotes sorted by customers age, then additionally considering the cost of 62 years of road experience. The study used all times of credit histories and claim types in order to come up with the average.
While the $94,000 may seem like a lot at a first glance, the overall numbers for standard life items show that car insurance actually pales in comparison. The Center for Nutrition Policy and Promotion notes that raising a child to age 17 costs well over $200,000, with added possible
college funds increasing that number significantly. Smokers also will spend more money in their lifetime on the dirty habit, with an average cost of $5.25 a day causing a $115,000 total.
Even relatively cheap items add up. For instance, using an iPhone from age 21 to 75 is likely to cost an individual $72,000, while those who continually need upgrades and endless applications would pay much more. Those who drink coffee would be spending nearly as much as one does for car insurance. A $4 average daily drink price will end up costing $88,000 over 60 years.
Despite its relative middle-ground in the overall spending, trying to lower car insurance isn't a terrible idea, and there are some ways to go about doing so. "Driving safely, getting very few tickets and being involved in a minimum number of accidents over your lifetime will have a big effect on your premiums, says Mario Morales, spokesperson for MetLife Auto & Home. Managing your credit responsibly is also key."
Without surprise, bad drivers have to deal with higher prices. Getting a ticket every three years on average will bring forth a total of over $100,000 on average. Positive credit, on the other hand, can save one nearly $22,000 when all is said and done.
American Family spokesperson Janet Masters reiterates the importance of your credit rating, "There is very strong statistical evidence that credit history can help an insurer accurately predict the likelihood of insurance claims. Almost every insurance company currently uses credit-based insurance scores. Maintaining a solid credit history can lead to lower insurance costs."
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Over a standard assumed driving lifetime, aged 16 to 78, the average individuals will end up spending $94,000 on insurance, according to the current data. The analysis used over 200,000 drivers and car insurance quotes sorted by customers age, then additionally considering the cost of 62 years of road experience. The study used all times of credit histories and claim types in order to come up with the average.
While the $94,000 may seem like a lot at a first glance, the overall numbers for standard life items show that car insurance actually pales in comparison. The Center for Nutrition Policy and Promotion notes that raising a child to age 17 costs well over $200,000, with added possible
college funds increasing that number significantly. Smokers also will spend more money in their lifetime on the dirty habit, with an average cost of $5.25 a day causing a $115,000 total.
Even relatively cheap items add up. For instance, using an iPhone from age 21 to 75 is likely to cost an individual $72,000, while those who continually need upgrades and endless applications would pay much more. Those who drink coffee would be spending nearly as much as one does for car insurance. A $4 average daily drink price will end up costing $88,000 over 60 years.
Despite its relative middle-ground in the overall spending, trying to lower car insurance isn't a terrible idea, and there are some ways to go about doing so. "Driving safely, getting very few tickets and being involved in a minimum number of accidents over your lifetime will have a big effect on your premiums, says Mario Morales, spokesperson for MetLife Auto & Home. Managing your credit responsibly is also key."
Without surprise, bad drivers have to deal with higher prices. Getting a ticket every three years on average will bring forth a total of over $100,000 on average. Positive credit, on the other hand, can save one nearly $22,000 when all is said and done.
American Family spokesperson Janet Masters reiterates the importance of your credit rating, "There is very strong statistical evidence that credit history can help an insurer accurately predict the likelihood of insurance claims. Almost every insurance company currently uses credit-based insurance scores. Maintaining a solid credit history can lead to lower insurance costs."
About AlabamaCarIns.com
Alabama Car Insurance (http://alabamacarins.com) provides customers with quality information on how to find the best car insurance available. Use the easy search function that allows anyone to see great insurance pricing anyone can afford.
Customer Service
4156676545
admin@alabamacarins.com
Source: EmailWire.Com