Statistics state that drivers over the age of 50 have lower accident involvement risk than ages under 50. The main reason behind this is that these people have more driving experience.
Experts state that older drivers tend to drive less and that their house has a garage. These people are most likely to live alone or with their spouse making their policies lighter since there are no young drivers added to theirs. Their consciousness on road safety increases as they age. They also drive at minimum speed to avoid sudden impacts and get variety of security devices on their cars in fear of theft. Others say that they often prefer to get out of the busy streets of the city and settle in towns or countries where car accidents and car thefts are less likely to happen.
These circumstances affect their premiums which are relatively lower than that of drivers younger than them. Insurance companies state that the factors that affect their premium are the type of the car being driven, where the car is kept, the use of the car and type of coverage the driver needs. The lesser the risk, the lower will be the premiums.
Experts claim that not all drivers over 50 have lesser risk, therefore cheaper premiums. Statistics state that the graph of accident risk in relation to age does not go diagonally, that is the older someone gets, the higher the risk. The graph makes a sharp turn when it comes to the range of drivers with an age over 70, forming a curve. This means that drivers over 70 have a high risk of getting involved in accidents.
Drivers at this age have a 13% possibility of making a claim than drivers within the age range of 40 – 50. Reasons for the heightened risk are mainly related to health changes. As people get older, the eyesight deteriorates and driving tends to get more risky. Furthermore, reactions can get slower making people of this age more exposed to the dangers on the road. A study from Kansas State University has once reported that older drivers get involved in crashes more at road intersections. With the risk heightened, so are their premiums. Rare drivers over 80, on the other hand, are commonly not granted with insurance policies to discourage them to get behind the wheel and on the roads.
Concerns about senior driving are also raised over the years and this triggered researchers and insurance companies to continually advise their senior customers to take caution for every sign of danger on the road. Road safety signs are also set up in giant characters and images to aid the drivers be prepared for any turns and stops. Law enforcers are also assigned in the streets to keep sight of driving behavior and traffic flows. Younger generations, usually their children or grandchildren, often offer to drive their elders around while advising those who aren’t suppose to drive to stop driving.
