If you are 50 years of age and above, you are considered a senior. Insurance companies divide seniors into two groups. Seniors less than 75 years old fall under the low risk group while those aged 75 and above fall under the high risk group.
Seniors below 75 because they drive carefully, ever mindful of traffic rules, have the lowest accident rate among all drivers. Auto insurance for seniors belonging to this age bracket is also the least expensive. On the other hand, seniors above 75 are nightmares on the road. They drive too slow and oftentimes lose their concentration, inconveniencing other drivers. With most of their reflexes gone, they are accident prone. In fact, they have the highest accident rate. Insurance premiums for this group, expectedly, are expensive.
Auto insurance for seniors does not come automatically cheap or expensive. Keep in mind that the principal basis of assessing premium rates is your driving record. This rule applies to all age groups as well. This means you can be 75 or more, yet you can still be entitled to a low rate as long as you meet the insurer’s requirements. Aside from this, insurance companies offer potential customers all kinds of discounts to keep up with the competition.
Insurance companies put heavy emphasis on driving records. You can belong to the safest group and still get classified as a high risk driver. All seniors, 75 and above, have to do is keep their records clean. This may seem difficult given the physical limitations, but it is not exactly impossible. First, try to avoid driving during day time rush hours when accidents usually happen. Day driving seems to be the most hazardous hour for high risk senior drivers. Second, do not file claims that are not absolutely necessary. Insurance companies are happy to hear that despite your age; you have not been involved in serious accidents and will be willing to give you hefty discounts.
Auto insurance for seniors is not much different in content from the insurance of other drivers and car owners. Taking advantage of options available to others is quite possible. Going for a limited coverage over full coverage insurance to reduce premiums is ideal. Utilizing deductibles will be essential if the premium payments are the main consideration.
Just like any other insurance, auto insurance for seniors provides a service that all drivers cannot do without – protection against possible personal injuries and damages to properties during accidents. If you are a senior looking for an insurance that fits the bill, you can go for cheap online quotes.