For seniors who still drive, you need to maintain an auto insurance policy intact. But, what’s enough, how much do you need, and how can you save? Let’s delve into these questions to help you determine the right policy, insurer, and level of coverage.
How much do you need?
This depends based on your state, how much you drive, and your age. If you’re in your 50s or 60s you might drive more than when you’re in your 70s. So, understand the minimum state requirements, what the coverage limits are, and how much protection you need for your vehicle. This will help you decide on the right policy and right insurer.
Your rates
What’s going to affect your policy rates? Several variables. First and foremost, if you have been with an insurer for several years, and have a clean driving record, this will keep your policy rates lower than if you haven’t had insurance for too long.
Apart from this, some ways you can reduce your premiums each month are:
- Take a driving course
- Remain accident free and don’t get moving violations
- Bundle (home, life, auto, etc.)
- Add more people to your policy (more drivers and vehicles equals a greater discount)
- Choose your car wisely (a 2020 Porsche will cost more to insure than a 2018 Toyota Corolla)
These are a few of the many factors that will be utilized by insurance companies to determine your rates. So, make sure you are doing what you can, that you are a safe driver, and that you keep a clean driving record, as these things will help keep your policy costs down.
Senior insurers
Some insurance companies are friendly to seniors. And, by joining AARP and other senior membership groups, you can find even greater discounts. So, look for these when you are deciding on the insurance premium you are going to purchase. Especially if you don’t already have an insurance company for coverage, you’re going to want to compare companies which are friendly to senior drivers, offer senior discounts, and other perks to help you save on your policy coverage rates.
Consider safety
Not you as a driver, but your car. Vehicles which have sensors, monitors, alerts, and safety cameras, tend to be safer for you to drive. They help you keep yourself in your lane and help you prevent accidents on the road. So, insurance companies offer discounts for drivers that own vehicles with these safety features built in. If you are going to buy a new car, make sure you consider these additions so that you can save on the price you are going to pay for your insurance premium as a driver.
Stop driving
This goes back to the first point, but the less you drive, the less of a risk you are on the road. And, this isn’t only for seniors, it is true for anyone who gets behind the wheel. So, if you do not have to drive much, you should limit it. Especially as you do get older, and aren’t as alert as you were when you were a bit younger. The fewer miles you are driving, the less you are going to pay for your insurance premium as a driver (at any age).
Shop around
Not only looking for senior-friendly insurers, but also for discounts and savings that are out there to be found. Alumni groups, membership groups, and other savings are offered to drivers, as well as to seniors. So, make sure you are inquiring about these savings, when you are choosing an insurance company to buy your auto insurance premium through. There are great savings out there, and ways in which you can reduce your policy rates, you just have to go out and look for them as a driver.
If you are still driving, that means you have to maintain an auto insurance policy. As a senior, you want to know what’s required in your state, and what the laws are about driving times as you get older. For those who want to find the right policy, the best rates, and want to maintain the right levels of coverage, these are some ways in which you can do that when choosing an auto insurance policy.
