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Measures To Minimize Your Car Insurance Premium Cost For Drivers Over 50 Years Old…

Senior discounts are available starting at the age of 50 and increasing every five years. If you are 50 or over with a clean driving record, you can get the best prices and discounts. Most insurance companies consider anyone over the age of 50 or 55 to be a senior. So, do not be hesitant to qualify, seize the savings. If you have a bad driving record, the fact that you are in your 50s will not help. So be a careful driver, no speeding tickets for the past 25 years and your rates will decrease. If you have a good driving record, auto insurance providers look positively at the long record and reward you with a lower rate. Seniors also get perks such as AARP membership, roadside support, household aid, and ride sharing credits if an injury happens as a result of an accident.

How to Find Lower Rates For Seniors Over 65

As you age, your auto insurance will increase — this typically happens after 65 years old. Senior drivers have more accidents than middle-aged drivers, according to statistics. According to the Center for Disease Control, 250,00 people aged 65 and above were treated in the emergency room for traffic accidents.

Since your insurance rates will certainly raise once you reach 65, here are some suggestions for lowering your auto insurance rates:

  • Shop for coverage – Get at least five quotes when you shop for rates and make sure you compare apples to apples in terms of coverage and deductibles. This is one of the greatest ways to reduce the cost of insurance. Different insurers estimate the risk differently and so the quotes may be dramatically different.
  • The number of times you drive – If you are retired and no longer travel daily, your prices should decrease. Always let your insurance company know you are not driving to and from work any longer. Ask them to re-run prices. You should see a reduction in your rates.
  • Defensive driving course advantages – Refresh your training as many insurers give discounts to senior drivers who pass a defensive driving course. Check with your insurance company and ask for a discount when you finish your training.

Ask your insurance company to examine your coverage so that all senior discounts are implemented.

Be Sure To Review The Coverage Options Available For Senior Drivers

Your car insurance needs change as you age.

You may choose to explore the following coverages as policy characteristics that were necessary when you were younger are no longer necessary.

  • Car rental coverage: Many times, if both members of the household are retired you will now only have one car. With that in mind, if the car is damaged in an auto accident you will surely want a rental car during the repair time.
  • If you have a new car: You may want new car replacement insurance. This endorsement will pay to replace your complete car with a comparable new vehicle, instead of paying the depreciated cost if you are in an accident.
  • Liability limits: If in your senior years you own more property and wealth than you did when you were younger, you may want higher liability limits to protect those assets if you have an accident.
  • At-fault accident forgiveness: This optional coverage will forgive one at-fault collision every 3 to 5 years and may help avoid raising your premium if an accident is caused.

Measures To Minimize Your Car Insurance Premium Cost

Older drivers get a lot of discounts, and you should seek everything that pertains to your situation.

Drive less: Savings can range up to 10% if mileage is taken into account.

Car insurance savings come with ‘Big Brother’: Your mileage and driving patterns such as acceleration, speed, and braking are recorded by a device installed in your car. You could save money in two ways, by driving safely and by driving less. Discounts may range up to 40% depending on the insurer.

Classes: As previously said, mature driving courses can save you 5 to 15 % on your insurance premium.

Safety features of your automobile: The most up-to-date features (rearview cameras, lane drift, collision warning systems, and parking assist) can help you avoid accidents and lower your premiums.

Bundle: Insuring your home and cars with the same insurance company can obtain you a savings of about 10%.

An Affinity Discount: This refers to when insurance companies offer discounts based on your membership to a common (and pre-approved) organization. These can be business organizations, clubs, fraternities, or sororities.

Auto insurance for seniors often costs more as senior drivers, as a group, are more accident-prone than their middle-aged counterparts. The reasons for this include age-related changes in hearing or vision, slower reflexes, health conditions, and medications. So, if you are a senior auto driver, be sure and check with your agent to get the best price available for you.

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