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Money7 tips to get cheaper car insurance for seniors

7 tips to get cheaper car insurance for seniors

Buying car insurance can be tricky as one has to consider several factors, such as the coverage level, tenure, and terms and conditions. Things get more complicated when purchasing a policy for seniors. With age, drivers face an increased risk of accidents, so companies charge a higher premium, making it difficult to find a plan within one’s budget. That said, seniors can do a few things to get the best car insurance rates.

1. Look for discounts

Some organizations dedicated to serving seniors have auto insurance programs that one can benefit from. For instance, the AARP provides members above 50 years up to 10% off on their auto premiums. Besides the AARP, many insurance companies roll out discounts to help one save. These may include pay-in-full discounts, autopay discounts, loyalty program discounts, and safety discounts. If a senior insures more than one vehicle via the same insurer, they may enjoy additional discounts and, thus, a cheaper car insurance policy.

2. Drive carefully

Many auto insurance providers offer safe driving discounts. As the name suggests, these discounts are for those who drive carefully and follow the road safety rules. Companies offer discounts to safe drivers because they are less likely to meet with an accident and file a claim. Seniors looking to buy car insurance can use these discounts to save. 

To be eligible for safe driving discounts, one must first improve their track record. This involves following a few best practices for a minimum number of years, such as driving within the speed limit, keeping the seat belt on, avoiding collisions, and avoiding fines and tickets. Besides lowering the car insurance rates for seniors, these practices can ensure the safety of the driver and other people on the road. Those unaware of how to avail of this policy can speak to an insurance agent and learn more about it. 

3. Drive less frequently

Seniors can also avoid expensive car insurance policies by driving less frequently. The less one drives, the lower their chances of being involved in a road mishap. That’s why insurance providers readily decrease their quotes for drivers who do not drive too often. Each insurer might have a specific mileage limit the driver might have to stay within, typically less than 7,500 to 8,000 miles per year. Seniors generally stay within this range, making them eligible for a discount. 

4. Shop around

An easy way for seniors to save on their car insurance policy is by shopping around. One can compare quotes from different insurers in the country and decide the option that suits them best. Seniors can even use online platforms to check the prices of different providers from the comforts of their homes. If comparing prices feels too difficult and time-consuming, one could hire an agent to do all the work for them and shortlist a few of the best options. 

When comparing prices, seniors should not look at the premium alone. One must also consider the kind of coverage each policy offers for their price. This includes the add-ons and deductibles. Some companies may offer affordable senior car insurance but provide inadequate coverage. Buying such a policy just because it is priced affordably isn’t a good idea.

5. Customize the policy

Most auto insurance companies let people customize policies as per their requirements. Doing so can help lower the cost in some cases. For instance, reducing the deductibles and agreeing to pay more out of pocket is one way to reduce the monthly premium amount. Seniors with access to emergency funds or huge savings accounts can customize their policy in this manner and save. That said, it is important to read the terms and conditions carefully when customizing an insurance plan.

6. Choose the right car

Car insurance rates can change based on the car one owns. Insurance companies generally charge a lower premium if the car is from a reputed brand and has all the necessary safety features. Similarly, the premium will be quite high if the vehicle lacks the necessary safety equipment. If one already has a car, they can consider adding a few safety systems, such as a rearview camera and additional airbags, before renewing their insurance plan to save money. Seniors buying a new vehicle can choose a model from a popular brand with adequate safety equipment to get the best insurance rates.

7. Enroll in defensive driving

Seniors who enroll in defensive driving courses can score great insurance deals. These courses teach people to drive safely, so they are less likely to get into a road mishap and, thus, file a claim. That said, signing up for a reputed course is important, perhaps the one offered by the state’s DMV. Seniors are awarded a certification on completing the course, which they can show the insurance company when buying a policy. The provider may offer a discount depending on their performance in the course. Generally, defensive driving courses can earn up to 10% discount for senior car insurance. Interested seniors can contact insurance providers or agents nearby to check which qualifying defensive driving courses can earn them cheaper quotes.

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