September 5, 2010

How Auto Insurance Rates Can Be Modified For Senior Drivers

Senior drivers often face an uphill battle when trying to find low auto insurance rates. This is due to insurance company actuarial tables; as senior drivers tend to be involved in more car insurance claims, their premiums are higher than those of drivers in other age groups. Of course, many senior drivers have very good driving records and are extremely careful on the road, but insurance companies are driven by statistics. Nevertheless, there are a number of ways for older drivers to control the cost of their car insurance policies, even when the statistics aren't in their favor.

Every senior driver should look carefully at the amount of coverage that he or she is buying, as this is an easy way to quickly cut car insurance rates. Many seniors don't spend as much time on the road as they do at home, and public transportation and other options become more manageable after retirement. Seniors who don't drive very often don't need extremely large amounts of coverage. Of course, it's still important to keep yourself protected, so keep deductibles low and make sure that insurance is sufficient to keep you financially protected after an accident. If you're a senior driver and you drive relatively safe routes on an infrequent basis, though, you should consider lowering your coverage if it's at all a feasible option.

Senior drivers can also look into discount programs for lower car insurance rates. Insurance companies don't offer senior discounts, of course, but they do offer discounts for drivers who complete special courses and low mileage drivers. Ask your car insurance agent about these discount programs, and take the necessary steps to take advantage of them. You should also use the competitive nature of the car insurance market to your advantage; look online for car insurance quotes, and find the lowest car insurance rates possible given your driving history and age group. There are a number of car insurance aggregate websites that make it easy for senior drivers to view and compare quotes from major insurance companies. Get a few quotes and call your insurance agent to discuss them, and you'll likely find lower premiums.

Age-based insurance rates may seem unfair, but they're not as bad as many drivers think. While senior drivers usually pay more for insurance than other age groups, controlling the cost of a policy often takes a bit of simple common sense and a good driving history. By re-thinking coverage levels, by using insurance discounts, and by controlling their risks, senior drivers can actually end up paying less for their auto insurance rates than younger drivers who don't take these actions.