Affordable Auto Insurance for Senior Citizens

Senior citizens are some of the most experienced drivers on the road, but sometimes, older drivers have difficulty finding affordable car insurance. However, senior citizens should never pay more than they have to, which is why these tips can come in handy. In this post, you will learn some valuable tips and information about finding affordable auto insurance for seniors.

Senior Driver: Definition

Most people are not aware that insurance companies have specific criteria for who qualifies as a senior. In most settings, anyone who is 65 or older is typically considered a senior citizen. However, in terms of car insurance — senior drivers are those who are at least 55 years old or more. In addition, drivers who are 75+ years in age qualify for an entirely different division of car insurance.

Senior Driver: Rates

Insurance companies understand that lifestyles and driving habits change as people age. Statistics have shown that older drivers are generally, more patient and careful drivers than their younger counterparts are. Typically, senior citizens do not get tickets for speeding or reckless driving. In addition, most seniors do not drive fast or expensive sports cars, either.

Therefore, insurance rates for seniors are calculated, accordingly. Insurance rates for senior citizens are based on several different factors including their age, the type of vehicle they drive and their driving history. Therefore, drivers who are younger than 75 that have a good driving record will pay lower than average insurance rates. Unfortunately, due to factors such as, slower reflexes and deteriorating sight — drivers over 75 will be placed in a high-risk group, which typically results in an increase in their premium.

Tips for Finding Affordable Auto Insurance for seniors

  • Senior Discount – Some insurance companies offer it, some don’t. However, the only way to find out if your current company offers a senior discount is to call and ask. If your current insurance provider doesn’t offer a senior discount or you think you might be able to find a better rate with another insurance company — try the next money-saving tip.
  • Compare Quotes – This is one of the best ways to find affordable car insurance for seniors or any age group, for that matter. There are two ways to compare rates: over the phone or online. Seniors can contact multiple companies, individually (via telephone) or get a rate quote comparison for several different companies, at the same time (via the internet).
  • Other Discounts – There are multiple discounts that seniors can take advantage of — if they are aware of them. For example, seniors who don’t drive very often can qualify for low mileage discounts through some insurance companies. Other discounts for seniors include loyalty discounts (for maintaining a policy through the same insurance company for an extended period of time), good driver discounts (for maintaining a clean record for a set amount of time) and discounts for vehicle safety features (e.g. – anti-lock brakes, air bags and stabilizer control), as well.

Getting older definitely has its advantages, especially when it comes to cheaper rates on car insurance.

Leave a Reply