The auto insurance rates can go up or down depending upon the risk that you represent for the auto insurance company. In other words, if you are more vulnerable to accidents and hence more likely to make auto insurance claims, then your auto insurance premium goes higher up. On the other hand, if you are a safe driver, then your auto insurance will be lower. For senior citizens there are a few factors that can work in their favor and some factors that go against them. Senior citizens are usually expected to drive less which means they can get discounts on their auto insurance.
Senior citizens might face a problem due to slowing reflexes that come with ageing. While this could lead to increase in the auto insurance premium, senior citizens can look for discounts on the auto insurance by taking driving certification classes. There are many driving schools that offer special driving certification for those older than 55 years. This also helps indirectly because by taking driving classes, senior citizens can learn a few tips for safe driving and understand the traffic and road signals better. This will help them avoid accidents and maintain a cleaner driving record.
Senior citizens can try to get a discount on their auto insurance premium by combining their auto insurance policy with the auto insurance policy of their spouse or children. Multiple auto insurance policies can make you a bigger customer for the auto insurance provider who will therefore provide you better discounts. If no one else has an auto insurance policy, you can even combine your auto insurance with your health or home insurance policies to get discounts. This will lower your overall auto insurance premium without really compromising on any aspect of the insurance protection.
Senior citizens can also use public transportation or car pooling in order to lower their mileage. They can get special mileage and driving pattern observation gadgets in their vehicles and get incentives from auto insurance companies in the form of discounts on their auto insurance premium. A lot of senior citizens are expected to have a high credit score and a reasonably long credit history. This will help them get a discount on their auto insurance rates. Those with good credit history are preferred by auto insurance companies due to their maturity and consistency in bill payments. Such customers therefore get auto insurance policy for lower rates.
