When motorists get into their mid sixties and beyond the chance of being in an accident goes up. This is because some studies have shown that statistically seniors’ perception on the road, reaction times, and hand to eye coordination diminish. Insurance companies know this and believe they are taking on more risk and therefore will increase car insurance rates for senior drivers. Here are some ideas to help elderly drivers:
- If you’ve retired make sure that your insurance company knows it as soon as possible. Let them know the adjusted amount of miles driven which is surely or even significantly less and therefore should help lower your premiums.
- As a senior looking to lower your auto insurance rates examine your deductible. Perhaps you’re only driving locally and have a good amount of savings it may be worth it to look at raising your deductible which will in turn lower your rates. *This is not a good option if you’re cash strapped.
- Joining AARP is worth a look. They are an advocate for folks 50+ and offer valuable services like a driver safety program and they can even provide auto insurance through The Hartford (which may or may not be the best choice).
- When its time to purchase a new vehicle choose one that has excellent visibility, you’re most comfortable in driving, has a good crash record and is reasonable to insure.
- Another possible factor in car insurance for seniors is health. Maintaining your health is not only good for feeling great but your insurance company may ask for records like checkups and vision tests etc.
- Insurance companies value customers with clean driving records no matter how old. If you find your current company is not being fair then it shouldn’t be hard to find a new insurer when you have a spotless driver record. Know matter how tempting it is to speed or be aggressive, avoid being a bad driver and it will pay off.
- Make sure to be aware of any state requirements to continue driving. Some require just a vision test while others require further testing.
- There will come a time when a senior will need to give up their keys and stop driving. For further reference I’ve provided a link to this excellent article.