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Senior Car Insurance - How Senior Citizens Can Get the Best Rates

With the baby boomer generation gradually leaving the workforce, the senior citizen population is on the increase. More and more mature drivers are on the roads as the senior population continues to rise. All drivers have concerns about the prices they pay for car insurance, but seniors have concerns that are specific to them as a group. There are several ways senior citizens can work to get the best rates on their auto insurance, helping them to maximize their savings and limit their expenditures each month.

Look Online to Find the Cheapest Insurance Providers

Today's car insurance market is more competitive than ever, with new companies popping up all over the landscape to keep established companies honest in their policy pricing. Many online-only companies exist on very thin profit margins, counting on high volume sales to keep them in business. The online car insurance market is becoming the first place many shoppers turn to when they look to renew their policy or shop for new coverage. The convenience of online shopping as well as the great value it offers makes it a great place to start your search.

The process of finding automobile coverage to fit your budget is faster than it used to be thanks to advances in online technology. Seniors can shop and quote coverage at any time that's convenient for them, from the comfort of their home, any day of the week. As a customer, you are no longer bound by the restrictions of old-fashioned business hours when you take on a task like searching for car insurance. You can complete the task on your own time and on your own terms.

When you get online to search for senior citizen car insurance, you will quickly find that there are seemingly endless options to choose from. The wide range of choices among providers can be somewhat daunting, giving you the feeling that your search for affordable senior coverage may never end. Senior consumers should take heart when they stumble across sites like this one, which help them to manage their search by highlighting several great local companies to begin their search with. Focusing your search only on a pertinent list of senior citizen car insurance providers greatly limits the time you will end up spending on the process, and actually increases your chance of ending up with a top quality car insurance company offering coverage in your local area.

Find Discounts to Save Money on Coverage

Senior citizen drivers bring with them a specialized set of driving habits and histories that greatly influence the rates they pay for automobile insurance. Unlike younger drivers, they have a wealth of driving experience. A solid driving history with a clean citation and claims record will help seniors to end up with much lower rates for coverage. One strategy for maintaining affordable rates for your car insurance is to focus on your own driving and keep your record clean. Drive safely and defensively to reduce the chance of an accident, and always wear a seat belt and drive under the speed limit to prevent getting a ticket.

Another driving habit particular to seniors is the number of miles they drive. Many (but not all) seniors drive much shorter distances and put fewer miles on their cars than do drivers in the general population. If you typically do not put many miles on your car, you may be able to qualify for a low-mileage discount for your auto insurance. Each provider is different, and you should check with the different providers you are considering in order to find out if they offer a low-mileage discount and what their mileage requirements might be.

Senior citizens as a whole can also qualify for certain discounts regardless of specific driving habits. Many companies offer mature driver discounts for people over the age of 50 or 55, and some grant additional discounts for drivers over 65 or retirees. An important discount gaining in prominence among senior citizen car insurance carriers is the defensive driver discount. Taking an approved defensive driving course can not only help you sharpen your skills, it can also save you a great deal of money on your premiums. Over two-thirds of states across the country now require insurance companies to grant discounts for these types of courses [1].

Bundling your senior citizen car insurance coverage with other existing policies can also save you money on your overall insurance costs. Especially if you have an existing relationship with a provider, this may in some cases be your logical first step when you are putting together quotes for coverage. Sometimes multi-policy and customer loyalty discounts outweigh the lower process offered by competitors, making staying put your best bet. The bottom line is that while you should not merely renew your senior citizen car insurance plan just because you have been with a company for any number of years, it still behooves you to investigate this option to find out the best price you may be able to get taking this coverage route. It can give you a baseline price to work off of as you gather your quotes and compare them against one another.

Adjust Coverage to Get the Best Car Insurance Rates

Beyond searching for the best company to provide coverage and taking advantage of all the discounts you qualify for, you can also adjust your levels of coverage to reduce the cost of car insurance coverage. Senior citizens who own older cars outright may want to think about reducing their coverage, dropping comprehensive and/or collision coverage from their package to reduce the bill. If this is an option you are interested in looking into, you can find out from your provider what the state minimums are for car insurance coverage where you live. Be sure to take into consideration what will and will not be covered if you do choose to cut back your coverage before you make any decision.

Another option senior citizens have if they want to maintain full coverage is to take on higher deductibles in their policies. Increasing your deductible can result in significant savings on the cost of coverage, but also necessitates setting aside more money to cover your obligation in the event of a claim. This is something seniors should keep in mind when they are considering such an adjustment in coverage. Higher deductibles bring with them higher costs out of your pocket if you ever have an accident or have to file a claim against your car insurance coverage, but the risk of such expenditure may be justified by the upfront policy savings. Weigh both sides of the issue and decide for yourself whether increasing your deductible is something you want to do.

Senior citizens have car insurance needs that are in many cases different from those of the general population. Car insurance companies recognize this, and most offer policies with coverage options tailored to the needs of seniors. As a senior citizen car owner, you can get the best rates on your car insurance by taking advantage of these options, and working with your provider to design a policy that suits you.

[1] http://seniorjournal.com/NEWS/Discounts/2007/7-06-28-SenCitCanFind.htm Retrieved 2009-11-29.

 

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