Why Older Drivers Will Sometimes Pay More For Their Auto Insurance

An auto insurance quote for older drivers may be higher than for a younger individual. Auto insurance quotes are based on several different factors about the driver, including age. There are many reasons why older drivers are charged higher insurance rates, including their health and potential for being involved in a serious auto accident.

There is no particular age after which an individual is considered too old to drive. Many states require yearly hearing and vision tests, but none insist that a senior’s license to be turned over at a specific age. This does not, however, mean that all older drivers should be driving. While there are many good senior drivers there are just as many bad senior drivers, and it is on the bad ones that insurance companies focus. Therefore, a senior driver in good health with a perfect driving record may be given a higher auto insurance quote because there are other senior drivers that have made the insurance company wary about providing coverage to senior drivers.

As individuals age, vision and hearing capabilities decline. Comprehension and reaction times, too, may be affected. Each of these senses is required to be a safe driver, and having even one problem with either sense can make an individual an unsafe. Insurance companies are aware of this risk, and protect themselves against the likelihood of needing to pay for damages or medical expenses resulting from an accident by charging senior drivers higher rates.

Similarly, older drivers tend to be involved in more serious accidents. Statistically, drivers 75 years of age are nine times more likely than other drivers to cause a fatal accident. In 2008, drivers 65 years and older were responsible for 15% of fatal accidents. Thirty-nine percent of the time, it was the driver who died during the accident. The seriousness of these accidents often means that medical bills and other expenses associated with it are higher. Here again, insurance companies protect themselves by charging higher insurance rates.

Seniors often require more extensive medical treatment after an accident. An older driver may be less healthy than other drivers and also may have serious previous medical conditions. Older drivers require more post-accident medical treatment, and it is the insurance company that will pay for that care. When combined with the likelihood that the senior driver will be involved in an accident, this fact often leads to insurance providers having higher auto insurance quotes.

Seniors are often charged more for auto insurance than other drivers because of the risk they pose to other drivers. The potential – and probability – for injuring themselves while driving and the cost of their medical treatment also makes auto insurance more expensive for older drivers.


3 Ways That Senior Citizens Can Keep Their Auto Insurance Quotes Low

With advances in medical and vehicle technologies, people are driving later and later into life. Senior citizen auto insurance is a booming industry, full of loopholes and standards designed to keep auto insurance quotes for the elderly relatively high. If you or a loved one is over the age of 60 and still driving, there are a few simple ways you can ensure you’ll get the lowest rate available when shopping for auto insurance quotes. The three following steps help you use the fact that you’re a senior to your advantage.

Consider bundling your homeowner’s insurance and senior citizen auto insurance with the same company. Many insurance providers offer special discounts, sometimes upwards of 25%, to customers who retain multiple policies within their company. As many elderly people have owned the home they live in for years, often this discount goes overlooked when shopping for auto insurance. Contact your homeowner policy provider to inquire about any combination deals they may have, and even if they offer any special concessions they may make for long-term customers.

Drop your coverage or deductible requirements. Seniors often drive older model vehicles, most of which may not require the same amount of collision coverage as a newer model. To lower rate quotes, ask what your state’s minimum coverage requirements are, then decide if you require any additional protection. Another surefire way to lower rate quotes is to increase the amount of deductible you’re willing to pay in the event of an accident. A higher deductible means lower monthly payments, which can work out to be a great deal in the long run, particularly if you are not prone to accidents or repairs.

Make yourself a safer driver. With age comes inevitable loss of hearing, reflexes, and decision making skills. A decrease in these functions can mean an increased risk of accidents, so if you have any concerns about staying on the road, be sure to speak with a doctor or family member. The safer driver you are, the fewer accidents you are likely to be a part of. Fewer accidents on your record, both previous and current, mean a lower initial auto insurance rate. Not only will you enjoy the benefits of a lowered monthly payment, you’ll be more confident on the road.

While many seniors believe their age is a detriment to their insurance company, the real truth is that being a citizen can, in effect, qualify you for lifestyle discounts that other drivers may not have access to. Speak to your current insurance provider about how they can lower your rates, and be sure to shop around often to see who can provide you the best coverage at the lowest cost.


Senior Citizen Auto Insurance Discounts

Senior citizens can save money on auto insurance by taking a few simple steps. One of these steps is taking a defensive driving course for seniors. Senior citizens can earn a discounted rate on auto insurance by completing a driving safety course designed for mature drivers. In some instances, the completion of these courses can earn senior citizens up to 15% savings on auto insurance.

Senior citizens can also save money on auto insurance by altering their coverage. For instance, an elderly driver may want to have auto insurance with a high deductible. This will help maintain lower monthly premiums. A senior citizen can modify an auto insurance policy by discontinuing unnecessary coverage. If the car is an older model, comprehensive and/or collision coverage may not be needed. Seniors can save money by dropping one or both of these coverage options.

Other ways for senior citizens to save money on auto insurance include inquiring about discounts given for safety features on vehicles, as well as determining if the senior is eligible for a discounted rate from a former employer.

Senior citizens also have the ability to save money on auto insurance by comparing auto insurance quotes. Auto free insurance quotes are available online, and obtaining one is simple and convenient. Senior citizens can get a free auto insurance quote by checking the rates from companies that serve the local area. Rates may differ depending on what type of coverage is needed. When comparing rates, senior citizens can determine if specific discounts will truly allow them to save more in the long run.

There are auto insurance companies that offer coverage plans specifically for individuals within a certain age group. Most senior auto insurance policies are available to those drivers who are fifty and older, but a few are available for drivers who are 49. Some of these discounted policies save mature drivers 10% on car insurance, while others may offer higher discounts. It’s best to review all the information and ask questions if you are looking for the best discount available.

When searching for senior citizen auto insurance discounts, the easiest way to begin is looking online. There are many websites that offer free auto insurance quotes. Rates are typically based on age, location, driving history, and coverage needed. Discounts may be available depending on age, vehicle safety features, driving safety courses completed, and driving record.

If you are a senior citizen interested in obtaining auto insurance discounts, request an auto insurance quote online. You can also speak to an auto insurance representative to get more information about plans and discounts for seniors.