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Tips for Senior Car Insurance

There are some tips for senior car insurance that can help you as a senior driver to get the value out of your policy while also saving the most money. Every driver has to have car insurance. And every individual driver has different needs when it comes to the specifics of their personal auto insurance policy. While it is impossible to generalize and accurately convey what all of those needs might be for every senior, it is simple enough to come up with some suggestions that may be of general use for a large segment of this demographic. To save money and maximize value as a senior driver, be sure you are only buying insurance protection you really need. Think about raising your deductible if your monthly budget is tight enough that some breathing room is in order. And take advantage of extra coverage that can come in handy if you ever get into a jam.

Don't Buy Unnecessary Auto Insurance

When it comes time to renew your auto insurance policy, it is a good time to sit down and review the specifics of your plan and assess your insurance needs. It's a good idea to do this every six months or every time you renew, to make sure your insurance policy really reflects your insurance needs. Many agents will try to sell you a full coverage package of insurance protection. They do this to all customers, not just to seniors. And they are not doing it to be immoral, either. They have a responsibility to their companies to drive sales, and they have a responsibility to their customers to give them options and let them know what their choices are.

With that said, it is easy for a car insurance consumer at any age to get carried away right along with an agent who is trying to sell you a policy filled with great coverage to protect your vehicle. There is nothing inherently wrong with a car insurance plan that includes, say, great collision and comprehensive insurance. But there is something wrong with buying such a plan if it doesn't make sense in light of the vehicles you own.

If you have newer cars which are still worth quite a bit of money, or especially if you still have outstanding loans on your autos, you want to definitely include collision and comprehensive insurance in your stable of coverage, without a doubt. However, as your vehicle ages, the need and even the justification for this type of insurance dwindles. Collision and comprehensive insurance are great, but they are both predicated on the value of the vehicle being insured. The maximum compensation you could get in the event of a total loss would be roughly the blue book or cash value of your car minus the deductible.

If your car is not worth all that much money-if it is an older car you have owned for years-collision and comprehensive are generally not worth the money. Take the funds you would have spent on these types of insurance and increase your liability protection, or invest in extra medical payments insurance for yourself. Be sure you know what each portion of your auto policy is set aside for, and what the limits of coverage might be for all of them. Know when to accept and when to decline offers for elective coverage like collision and comprehensive.

Think about Raising Your Deductible

If you are in a very tight financial situation, you may not have even thought about including comprehensive and collision insurance in your policy. Maybe you're thinking that all you can afford is simple liability insurance, enough to get you on the road and driving legally. If this is the case, if you are on a fixed or otherwise limited income, you need to know all you can to save every possible penny.

If this scenario describes you-and truthfully, it describes a large portion of the senior driving population across the country-think about raising your liability insurance deductible, or deductibles if you have split-form liability insurance. If you raise your deductibles to, say, $1000, it will obviously increase your out of pocket cost for the policy if an accident should occur, but it keeps you insured and on the road, and it puts money in your pocket each month. You will still have the protection of an auto insurance plan to go to work on your behalf if the unexpected occurs, but in the meantime, you can save yourself some money and buy yourself a little breathing room financially.

People of all ages, not just seniors, are going through similar circumstances forcing them to make decisions just like this. In this situation, it is useful to recall that auto insurance is really more of a catastrophic policy than anything else, anyway. It is not like your health insurance, which you plan to use to go to the doctor for physicals and routine check ups. Ideally, you will never use your auto liability insurance. But it is there for when something does happen prompting you to have to make a claim.

Take Advantage of Extra Coverage

While all of us are surely looking to save money wherever we can, nonetheless, there remains a responsibility in all of us to take advantage of value whenever we see it. Failing to do so means letting a good deal slip away. This is hardly the mentality that got you through all these years of hard work and determination. No, if you are like most people in any age group, you need to grab good deals when you can get them.

In the area of car insurance, there are certain companies who try to set themselves apart by offering certain modes of protection above and beyond the standard fare. The example probably best worth highlighting for senior drivers is roadside assistance, because it costs little (sometimes it's free) and yet, it adds a great deal of value to your policy. It can make you feel safer and more at ease out on the road. And really, that's one of the things a good car insurance plan should do for every driver.

Roadside assistance includes towing service, of course; most people associate roadside assistance with towing and think the two are synonymous. However, there is more to most insurers' roadside assistance plans than just towing. Also often included are flat tire repair and fuel delivery. If you get a flat tire and are unsure of your ability to get it changed, especially in inclement weather, this service can be very helpful. And fuel delivery can save you in a pinch if your gas gauge has let you down or you just couldn't quite stretch out the tank far enough to get to the station.

Like all drivers, senior citizens have particular concerns and needs as drivers and car owners that are unique to them as a group, and some that are unique to them as individuals. Some of these basic tips may help a majority of seniors to get more value out of their insurance protection. Maybe not everyone will find them applicable. But every senior should get maximum value from their car insurance.

 

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