Everyone driving an automobile on road needs auto insurance, irrespective of their age. Although statistics show that the senior citizens are more prone to accidents while driving, they are safer drivers and have clean driving records. Insurance companies cannot deny the insurance based on the age factor, but senior citizens are charged more premiums because insurance companies look at them as bigger risks.
There are some measures that a senior citizen looking to purchase an insurance policy can take, in order to avoid high premium rates:
- Clean driving records will help in reducing the premium rates. Insurance companies will have special discounts for senior citizens based on their impeccable driving records.
- Defensive driving classes are another way to decrease the insurance rates and decrease the premium amount. Senior citizens can take up driving classes to get training in defensive driving, which will reduce the high risk that insurance companies take. This will automatically qualify them for lower premium rates and special discounts if any.
- Updating the insurance policies when other companies give special rates and discounts for senior citizens can work out to be more economical. Many insurance companies offer attractive rates if people change their policies to their companies.
- Senior citizens can also install safety equipment and other precautionary equipment onto their cars which will give them some additional discounts. The safer the car is, the lesser the insurance rates and monthly premium. Installing devices like automatic seat belts, anti lock brakes, tracking devices can all help in reducing the monthly premiums.
- Senior citizens can enroll themselves into group insurance policies, which will enable them to obtain additional discounts and lower premium rates. There will be a minimum number of people required to enroll as a group.
- Low mileage discounts can also be of help, if the policy holder does not use the car very often.
- Insurance policy packages will usually have specialized rates and additional discounts. Even combining two to three policies together in the same insurance company can work out more economically.
Many insurance companies offer senior citizen discounts knowing that they will need more coverage and policies to safeguard them and their vehicles. Doing some research and comparing different quotes from various insurance companies will give a good idea about policy rates in the market. There are many sites on the internet that provides comparison charts for insurance policies available in the market today. Searching for a good policy on one of those sites can be a good starting point.
