Despite the myth that car insurance is more expensive for older drivers between the ages of 50 and 70 years old, however, there are many ways in which senior citizens can take advantage of discounts that may be applied to lower insurance policy premiums. Depending on state laws, terms of how individual insurance providers calculate risks, and advances in technology, the following tips can prove to be advantageous for lowering premiums for older drivers.
Clean Driving Record
Many insurance companies consider older drivers to be more experienced than teenagers just getting behind the wheel, while others consider senior citizens as high risk drivers. Regardless of age, however, having a spotless driving record is the best way to save on car insurance. Typically, any points incurred from traffic infractions remain on a driving record for three years. While some accidents can’t be avoided, consciously deciding to be a safe driver at any age offers numerous benefits.
Reduction in Miles Driven
Upon retirement, many senior citizens find themselves driving less miles each year than they once did while working. Insurance providers consider drivers travelling fewer miles annually to be less likely involved in an accident, and consequently filing a claim. For senior citizens requesting car insurance discounts, be sure to inform the agent of the fact as well as whether or not you’re driving back and forth to work. Also remember to maintenance your vehicle regularly, especially if it’s not used frequently.
Avoid Over-Insuring Vehicles
It’s important to have adequate car insurance. In fact, it’s legally mandatory to purchase at least liability coverage in the event you’re involved in an accident; however, it’s just as important not to over-insure your vehicle. If the vehicle is an older model and paid for in full, consider the depreciation value of the vehicle when opting for car insurance. For example in such cases, you may want to discuss your insurance agent about cancelling Physical Damage auto insurance coverage.
Vehicle Safety Equipment
Thanks to advances in technology, many newer vehicles come equipped with safety equipment which car insurance providers find striking enough to offer discounts to senior citizens opting to purchase newer models. One such equipment feature is a GPS (Global Positioning Systems) unit which can assist in providing navigational directions on unfamiliar routes. Another appealing safety feature is OnStar. The service provides roadside assistance, stolen vehicle tracking and an automatic crash response.
For additional car insurance discounts for senior citizens, consider purchasing a vehicle included on The Insurance Institute for Highway Safety annual list. Not only does the decision to purchase a safe vehicle result in savings, but it could potentially save lives in the event of an accident.
There are other available car insurance discounts for senior citizens. Contact your agent or senior advocacy programs such as AARP for additional ways to save on auto insurance coverage.
Car Insurance Reference:
http://www.carinsurance.com/discounts-for-senior-drivers.aspx
