Senior Citizens Car Insurance

How to Find the Best Auto Insurance for Seniors

One of the advantages of being a mature driver is that insurance companies recognize your experience, and that experience can bring you better pricing in the form of safe driver and senior discounts. Let’s talk about how you can be rewarded for your longevity and wisdom through lower rates and discounts on your auto insurance policy

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Top Reasons to Find a New Mature Driver Auto Policy

  • You recently turned 50 or hit another “milestone” birthday
  • You have taken a safe driving course, and your current policy does not offer a discount
  • You have been “claim free” for two years or more but your rates remain high
  • You do not have a local agent who regularly reviews your insurance needs
  • You have had a recent life change such as getting married or losing a spouse

Factors that Affect Senior Auto Insurance Rates

There are a number of important factors that can affect your rates, and even how much insurance you need to buy. One factor that will make a difference in your policy and rates is the type of vehicle you drive. For example, if you switch from driving a high end car such as a Lincoln MKS to a standard family car like a Ford Focus, your rates will likely decrease.

How often you drive is a factor in determining your insurance rates, too. If you are paying the same rate you were when you were commuting daily to work now that you are retired, you are most likely paying too much. A daily work commute brings with it certain risks that are vastly reduced if you are driving less frequently.

Your driving record is a key factor in determining your auto insurance premium. Seniors tend to be safe and cautious drivers, though they may have lost confidence or have diminished vision, which can lead to mistakes. Many mature drivers have not refreshed their driving skills since they initially learned to drive many decades ago. Taking a driving course specifically for mature drivers can enhance your driving skills, which can help you remain safe on the road, and maintain your good driving record. It can also result in a discount, just for taking the course.

Finally, an important and often overlooked factor is whether you are paying for coverage you don’t need. One example is loss-of-use coverage and the damage to non-owned automobiles. The loss of use endorsement is used when you have been involved in an accident and need a car to drive to work while your vehicle is being repaired. The liability for damage to a non-owned vehicle is the coverage you would use if you wanted to rent a vehicle for the weekend.

If you and your spouse are both retired, and are listed on each other’s auto policy, you may not need this additional coverage. That being said, if you travel, you may want to call your agent and add the coverage onto one of the vehicles so you will have coverage abroad.

Senior Auto Insurance Discounts

You may qualify for a number of discounts, and it pays to ask about any potential discounts you may qualify for, including the following:

  • Age discount: Many discounts start at around 50 and increase every five years.
  • New business and customer loyalty: Many insurance agencies show appreciation for your business when you start a new policy, and will also reward your customer loyalty when you renew.
  • Low mileage: If you rarely use your vehicle, such as 5,000 miles per year or less, you may receive a special low mileage discount.
  • Multi-line discount: If you have multiple policies with the same insurer, such as your car, home and RV, you can typically qualify for a discount on the package.
  • Multi-vehicle discount: If you and your spouse each have a vehicle, or you have two cars, you can enjoy a multi-car discount.
  • Payment in full: Paying your entire premium annually saves on service charges and those savings are passed on to you.

Make sure you ask your agent for all available discounts. This is especially important because your agent may not be aware of a change in your status, such as retirement. Working with a local agent who takes the time to listen to your needs and provide personal assistance can make a difference, not only in your costs but also in the quality of your customer experience.

Senior Car Insurance Can Be Affordable

Your senior auto insurance does not have to break the bank. As you can see, there are many ways to save. Reviewing your coverage annually with an agent can help ensure that your policy fits your current needs and lifestyle and that you are paying only for the coverage you need.

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