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Auto Insurance at Any Age

The expenses associated with auto insurance are something we fight with as drivers from the time we first get the keys as teenagers to the time we give them up for the last time in our later years. Each age group in the driving population has unique challenges to face when it comes to their auto insurance needs and the prices they pay for their policies. Each separate demographic has different things working against them in their struggle to keep their costs down. Different strategies and opportunities exist for members of each age group to help keep their auto insurance affordable. Whether you are a teen or young adult driver, a middle age driver, or an elderly driver, there are some things that could help you get the most out of your auto policy while you also work to save money on your premiums.

Teen Drivers

When it comes to car insurance premiums, teen drivers are probably the single age group most closely associated with high premium rates. Teenagers have been shown to be involved in more accidents per mile driven than any other age group. In simple terms, this can be explained by their lack of experience. While they are learning the rules of the road, while also picking up on the nuances of handling an automobile, they are bound to make some mistakes that could end up costing them in the way of higher premiums.

To begin with, before you ever get behind the wheel as a teen driver, you are already facing higher premiums than any other age group, simply owing to your age. Until you reach age 25, you will likely pay a substantial surcharge for your age and inexperience. With this being said, there are ways for teen drivers to cope with the economic side of things in the first few years of their driving careers. One smart move is to drive cheap cars. Unless you can afford a huge insurance bill, keeping it simple will keep your premium costs low. Drive a cheap car and just pay for liability insurance.

If you are listed as the primary driver on that cheap car, you still may be listed as a secondary driver on your parents' vehicles. This gives you access and protection to borrow those cars for nice dates, like prom or homecoming. As a general rule, it is much less expensive for a teen driver to be added to an existing family auto insurance policy than it is to get one by herself. Save all the money you can by getting on your parents' policy. Even if you pay them the difference in their premium, it will still be cheaper than having to buy your own plan, in all likelihood. Also, look into good student discounts to minimize the impact of your presence on your parents' policy.

Middle Aged Drivers

Established middle aged drivers are usually in the midst of their careers, whether in the workforce or at home raising the children and keeping house. This age group tends to put a lot of miles on vehicles, many of them highway miles in commuting to and from work every day. These commutes can lead to a great risk of accidents at rush hour or in bad weather leading to poor road conditions or visibility. Stay at home parents do not tend to drive as many miles as their working spouses, although today's homemaker does drive more miles on average than in previous years. More stay at home moms and dads either work part-time or go to school, giving them longer trips to make than just to town to get groceries, run errands or drop off the kids at school.

Middle aged drivers do not face an age-based surcharge on their premiums as teens do, but they do tend to drive nicer cars, which can make their insurance more expensive. To keep your costs down as a middle aged driver, it is imperative to stay on top of both your credit rating and your driving record. Both are extremely important to keep you qualified for lower cost preferred driver auto insurance policies.

There are other ways to save money on car insurance as a middle aged driver today. Property ownership gives you a significant advantage in this way, as it is seen by insurers as a sign of stability, and thus a positive mark on your insurance profile. As mentioned before, a clean driving record is also critical. Stay free of accidents and other claims to keep your rates low. Multi-driver auto insurance policies are of particular use to middle aged drivers, who often have two spouses and maybe even a few teens all on one policy. Each additional driver can help drive down the cost of the policy on a per-driver basis.

Purchasing multiple policies from the same carrier can also give you an opportunity for savings. If you carry your home and life insurance, for example, with the same company providing your auto insurance, you can potentially save a significant percentage off the top of all three. It can be expensive paying for auto insurance at this age, with several cars and drivers in the house to cover, but trying to take advantage of as many discounts and other strategies as possible can make the bill less painful.

Elderly Drivers

Unlike middle aged drivers, who tend to drive the most miles of any of these three age groups, elderly drivers usually drive relatively few miles, particularly after retirement. As they get older the mileage they put on their vehicles tends to continue dropping, until they get to a point when they no longer drive at all. No two seniors get to this point at the same time, so there is no rule for hanging up the keys at a certain age. Each driver must assess this for themselves, in consultation with family members if possible.

After a driver gets beyond a certain age, even one accident will tend to raise premiums at a rather steep rate. This is due to an assumption insurers make about elderly driver losing their skills and alertness behind the wheel as time goes by. As you age and your coordination and eyesight start to give you troubles, you may find that you are only comfortable driving shorter distances, and then only at night. It is up to you to decide when to quit driving altogether, but ideally, this decision can be made with the love and support of your family.

Pay as you drive car insurance or low-mileage insurance can help elderly drivers save money on their premiums as their mileage begins to dwindle. The older you get, the more you will likely get used to driving less, since you will probably not be working any more, and you will have of a need to drive long distances each day.

Just like middle aged drivers, teens and elderly drivers have their own unique set of challenges to work through when it comes to getting their car insurance straightened out and trying to find affordable premiums. Auto insurance can be a challenge at any age, no matter how old or young you might be.



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