If you are a senior you may have some special options available for you when shopping for insurance. Here is an article by Ferd Lynge about these possibilities.
How Seniors Can Save On Auto Insurance
The majority of senior citizens have stayed with their insurers for many years because quite simply, familiarity is reassuring. However, the auto insurance arena has become more competitive. Insurance firms compete for the patronage of seniors by offering discounts and low insurance premiums, without compromising coverage. Having said such, instead of staying on the same policy or provider, seniors may benefit from checking out deals offered by other firms.
How to get affordable auto insurance for seniors
Shop around
Looking around for affordable insurance products is not as difficult to do these days thanks to the Internet. Price comparison websites let you find insurance firms that offer sufficient coverage with a smaller cash outlay easily and quickly. If you are not very techno-savvy senior, ask a younger member of the family to do this on your behalf.
Look for discounts
Numerous auto insurance companies offer discounts for older drivers, especially those between 50 and 55 years old. Remember though that drivers 75 and older may face higher premiums because this group has one of the highest rates of deadly daytime accidents. To be qualified to receive discounts, much older seniors can enroll in senior driving lessons or drive infrequently.
Drive a low risk car
Some vehicles are more expensive to insure. If you drive a vehicle that is considered low-risk by insurers, you will spend less to insure your car. In addition, you can install safety or security features to your car to shave off a few dollars from your insurance cost.
Avoid tarnishing your driving record
Apart from your choice of vehicle, one of the most important determinants of the cost of your insurance is your driving record. If you are a responsible driver, you will get good driver markdowns. Infractions are assigned points to determine its severity and the risk of covering you. Points can take 3-7 years to diminish based on the seriousness of the violation.
Examine insurance needs
If you can afford it, pay higher deductibles to reduce your premium. You can also drop collision or comprehensive insurance if you own a car that is more than 5 years old or one that has high mileage. Although there are ways to reduce vehicle insurance expenses, as a senior, it would be smart to think about whether you really have to drive at all. If you are already enjoying your retirement, you may no longer have to drive frequently, and it may be better to use those funds elsewhere. Do not equate giving up driving as loss of independence, instead consider it as a means of making the most of your retirement funds.
Click here for more articles about auto insurance for seniors.
How to get affordable auto insurance for seniors
Shop around
Looking around for affordable insurance products is not as difficult to do these days thanks to the Internet. Price comparison websites let you find insurance firms that offer sufficient coverage with a smaller cash outlay easily and quickly. If you are not very techno-savvy senior, ask a younger member of the family to do this on your behalf.
Look for discounts
Numerous auto insurance companies offer discounts for older drivers, especially those between 50 and 55 years old. Remember though that drivers 75 and older may face higher premiums because this group has one of the highest rates of deadly daytime accidents. To be qualified to receive discounts, much older seniors can enroll in senior driving lessons or drive infrequently.
Drive a low risk car
Some vehicles are more expensive to insure. If you drive a vehicle that is considered low-risk by insurers, you will spend less to insure your car. In addition, you can install safety or security features to your car to shave off a few dollars from your insurance cost.
Avoid tarnishing your driving record
Apart from your choice of vehicle, one of the most important determinants of the cost of your insurance is your driving record. If you are a responsible driver, you will get good driver markdowns. Infractions are assigned points to determine its severity and the risk of covering you. Points can take 3-7 years to diminish based on the seriousness of the violation.
Examine insurance needs
If you can afford it, pay higher deductibles to reduce your premium. You can also drop collision or comprehensive insurance if you own a car that is more than 5 years old or one that has high mileage. Although there are ways to reduce vehicle insurance expenses, as a senior, it would be smart to think about whether you really have to drive at all. If you are already enjoying your retirement, you may no longer have to drive frequently, and it may be better to use those funds elsewhere. Do not equate giving up driving as loss of independence, instead consider it as a means of making the most of your retirement funds.
Click here for more articles about auto insurance for seniors.
Source: EzineArticles.com.
Thank you Fred! That was a very helpful article.
Nadav
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