When insuring an automobile there are certain factors that determine the terms as well as the premium of insurance. Age of the driver and the car owner is one such factor. Auto insurance for seniors is costlier than that provided for younger drivers. This is because senior drivers fall in to the most risky categories of drivers who have a higher tendency to meet with accidents due to age related problems.
Steps to get the best rates
- AARP and AAA are some of the popular companies that specialize in auto insurance for seniors. The first step towards purchasing auto insurance for seniors is to get a comparative auto quote. These quotes are available online and there are insurance agents who too can supply auto insurance quotes of different companies.
- Previous employers or local church associations sometimes offer group insurance policies for senior citizens that can prove to be beneficial in saving money for the senior citizens.
- Senior citizens are advised to take on a defensive driving course that would serve two purposes. Firstly the insurance company gets a quantitative knowledge of the driver’s skills and secondly a good score will help the elderly driver get a discount from the insurance company.
- Senior citizens should lower their deductibles when purchasing an auto insurance plan. As the cars driven by seniors are often old so a higher deductible might cost more than what the car is worth of. A higher deductible is advised only when a new car is purchased and used.
- Senior citizens are also advised to choose cars that have lesser complicated features and parts. The more complex a car gets the higher will be the cost of its parts and this would increase the insurance bill. Cars with safety measures like air bags and auto locks are also some of the features that should be mandatory for senior citizens.
- Before purchasing auto insurance, elderly must get their old car repaired. A car with good maintenance and features will help in attracting discounts.
- The rates for car insurance depend upon the zip code of a country. If the elderly has two addresses then he must mention the zip code that offers the best car insurance rates.
- Senior citizens with cars are also advised by insurance agencies to hire drivers who can drive the car more safely and so will be less prone to accidents.
Insurance companies anticipate higher rates of accidents by senior citizens and therefore charge higher monthly premium rates from elderly to make up for the potential loss that might be incurred by them.
