Many senior citizens cry “age discrimination!” in outrage when they see that they are quoted high premiums by insurance companies. Yet with just a little patience and persistence, those in their golden years can find that there are auto insurance plans that are suitable for them – and that they can sign up for them at a lower cost.
Insurance companies recognize that the seniors market is a very lucrative one. There are many more elderly people driving their own automobiles today, and everyone – young and old – is required in almost every US state to carry personal liability coverage. Senior citizens should be aware of the ways in which they can lower their insurance premiums because their advanced age is no reason for them to pay higher rates.
While it is true that many senior citizens may have slower reflexes and perhaps an impairment in their driving abilities, this is not the case with a number of them. Some auto insurance companies give discounts to certain old-timers who pass a safe-driving course and who meet the right age requirements. One example of such a course is the 55 ALIVE of the American Association of Retired Persons (AARP). Many insurers offer discounts to policy subscribers who have completed this course.
Some other criteria for lowering insurance rates apply to drivers of all ages. For instance, the less you drive your car, the lower your premium is likely to be. You should keep your driving record as clean as possible; traffic violations and accidents are apt to make an insurance company increase your rates. A driver should also maintain a clean financial score because insurers are wary of a person with a checkered financial past; indications of late or missed payments in your previous financial transactions will raise a red flag and your insurer might take this to mean that you’ll be just as derelict in your payments with them.
One more thing: take the type of car you’re driving into consideration if you want to lower your insurance rate. Some types of vehicles, such as sports cars and sport utility vehicles (SUV) command higher insurance premiums. Also, where you use your car is one of the considerations insurers look at when determining rates.
Senior auto insurance plans can vary widely among insurers and states. To find one that suits you the best, ask other senior citizens for their feedback of their own insurers. Look at insurers’ websites, or talk with their agents to find out all about their senior auto insurance plans, their corporate stability, and the ways they can help you save on car insurance costs.