Auto insurance is an expensive necessity for all drivers, but can be more expensive for younger drivers and senior citizens. Unfortunately, statistically, senior citizens have a higher assumed risk than middle aged drivers do, which translates into a higher premium. The cost of a premium for senior citizens can vary depending on age, for instance, an individual in their 50′s will pay significantly less than an individual in their 80′s.
What kind of discounts should senior citizens look for?
• Outmoded driver discount- Drivers that are of a certain age will be able to apply for the mature driver discount, which is available on most auto insurance company.
• Qualified driver discount- Drivers who have a clean driving record, without many accidents, or moving violations will see a significantly lower auto insurance premium. This discount can be substantial for senior drivers since a proven track describe or safe driving will likely be continued.
• Multiple policy discount- The multiple policy discounts is available for any age driver, but drivers who are seniors have a good chance at having various insurance policies that younger drivers may not have. Combining auto insurance policies such as house, auto, and boat insurance will reduce your monthly premium significantly.
• Driving class discount- Completing a safe driver’s class is not only easy, but it helps save money annually on your insurance bill. From personal experience I can say that the driver’s class takes about 4 hours and is incredibly easy to complete.
Are there any auto insurance companies that are better than others for senior citizens?
Choosing an auto insurance company is a personal choice for the individual. The discounts offered for drivers of any age, especially senior citizens, will receive lower rates for their driving describe. The auto insurance premium for senior citizens will depend greatly on age, as mentioned earlier; the cost of the premium will vary greatly for senior citizens. I recommend completing a driving class since it shows the auto insurance company that you care about safe driving.
Overall
Overall, the cost of insurance for senior citizens will depend on the same factors as it does for individuals of any age. Senior citizens are entitled to the senior citizen or mature driver discount, but may face higher premiums based on age. Older drivers can receive discounts that younger drivers may not be entitled for, but since auto insurance companies vary there is no best company for seniors. However, the best company you choose will be based on your driving record and discounts that are available.
Sources:
Personal experience
Filed under Cheap Automobile Insurance by on Dec 15th, 2010. Comment. 
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Filed under Cheap Automobile Insurance by on Nov 10th, 2010. Comment.
