There is a reason why car insurance is generally more expensive for older drivers. Insurance companies perceive old people as a risk. They might get into several more accidents. So how is it possible to still save money on auto insurance as a senior driver? Continue reading to find out all the possible ways to save.
How age affects the premium cost
On the bright side, several states have mandatory discounts for drivers who are over the age of 55. People around fifty-years old have it better when it comes to premium rates. Companies consider people around 50 to be experienced, safe, and healthy drivers. You can expect a full-coverage to cost 560 dollars if you’re 55. The truth is the older someone gets the more costly car insurance becomes. This is how it’s been for a long time now.
Discounts and tips for saving
Consider driving less. If you’re retired, there is probably no need for you to drive regularly unless your lifestyle requires it. Staying put most of the time helps in something called the low mileage discount.
Take the time to talk to your agent about all available discounts available to you as a senior driver. This is important because you have the opportunity to inform your agent of any changes to your driving history your agent is not aware of, such as retirement.
Check with a new insurance company. Most insurance companies show appreciation for your business by giving you a cheaper rate than the one you are currently with when you start a new policy, and will also reward you customer loyalty when you renew.
Paying your entire premium every six months or annually saves on service charges and those savings are passed on to you.
You can also opt for a device that tracks your driving. There car insurance companies that offer such services. You only pay based on how much you are driving. It’s a great way to save for older drivers.
Taking classes on safe driving can also contribute to the trust your insurance provider has for you. There is no age limit to taking defensive driving courses. You probably have more free time to take classes like this.
If you have multiple drivers registered on your vehicles consider unlisting some of them or all of them. Maybe it’s about time the other family member gets their own car insurance.
Remember to review your coverage annually with your agent to help make certain that your insurance policy suits your current situation and that you are paying only for the coverage necessary.
Lastly, you can consider quitting driving altogether. If you’re at an age that doesn’t require driving everywhere consider just stopping. This might also be best for your safety as well. You can have someone else drive for you or if possible, commute.