Car Insurance For Seniors

Just like any other driver on the road, senior citizens need auto insurance that is not only affordable but offers good coverage. Senior drivers have years of experience behind the wheel. While their age may be concerning for car insurance companies, there are still ways to get Affordable rates on Car Insurance for seniors.

Do Car Insurance Rates Increase with the Age of the Driver?

Companies tend to increase rates for seniors as soon as they hit a specific age, usually around 65 years old, putting you in the non-standard auto insurance category.

65-Year-Old Drivers may have to start looking for discounts or a new car insurance company to purchase a policy with. Auto Insurance for seniors isn’t impossible to obtain; it may take a bit of hunting for affordable rates.

Best Types of Car Insurance for Senior Drivers

Every driver on the road needs liability insurance, so you may already carry that. You may also have purchased collision and comprehensive insurance coverage for even better protection while on the road.

While these are suitable types of coverage options to have, there are still ways you may want to expand or adjust your policy. Hitting a certain age as a senior and seeing your rates increase are good times to analyze your policy.

Some additional types of auto insurance for seniors include:

• Pay-per-mile car insurance - A driver could completely change what kind of car insurance they carry. Pay-per-mile car insurance is auto coverage that sets your insurance rates based on how much you drive each month. Pay-per-mile may be perfect for seniors if they are retired and no longer have to commute to a job every day.
• New car replacement coverage - Drivers who have recently purchased a new vehicle would benefit by adding new car replacement coverage to their policy. Each insurance company sets its guidelines differently, but generally, this coverage will replace your totaled vehicle.
• Car rental reimbursement - Car rental reimbursement would be wise if your household only has one vehicle. This is typically the case as seniors often downsize when entering retirement. Car rental reimbursement will help pay for a rental car if your vehicle has been in an accident and needs to spend time in the repair shop.
• Accident forgiveness - Under this car insurance coverage, a senior will be forgiven for one at-fault accident. Specific coverage varies from one insurance company to another. However, it typically forgives one accident every three to five years. With accident forgiveness, your car insurance rates will not increase following that one accident you are forgiven for.

What has been outlined above are just some examples of ways seniors can expand their coverage as they enter the next phase of their lives.

Consult with your insurance agent for further advice on Senior Car Insurance Rates. They can help analyze your senior policy and suggest other types of car insurance to fill in any gaps in coverage.

How Much Does Car Insurance Cost for Seniors?

The cost of a car insurance policy as a senior can get pricey. While it is pretty close to the national average cost (around $1,670 per year for full coverage car insurance), it may still be more for seniors than you had been paying at your younger age.

Senior drivers may pay an average cost of $1,700 annually for full coverage auto insurance. That comes out to be about $142 per month for car insurance.

It is important to remember that car insurance rates are personalized, meaning your quotes can easily be above or below this national average.

For example, suppose a senior’s driving record has several accidents or a DUI conviction. In that case, their auto insurance rates will be high.

On the other hand, if a driver practices safe driving and takes steps to secure their vehicles, like installing car alarms, their rates may decrease. Getting discounts on your insurance policy is also always possible.

How to find the Cheapest Senior Car Insurance

There are several ways to find Insurance discounts for senior citizens that can lower their auto insurance rates. Some of them are instant, like policy discounts, while others may take some research to find a better price.

Whatever route you choose, know that good coverage at reasonable rates is available regardless of age. Below are some steps seniors can take to get car insurance discounts.

Loyalty discounts

If you have stayed with the same insurance company for several years, they may offer you a loyalty discount. Loyalty discounts are usually available after a set period with an insurance company. Older drivers may qualify for such discounts.

Safe driver discount

It can pay to stay claims-free. Many insurance companies offer discounts on rates for drivers who practice intelligent, safe driving and don’t end up in accidents. Not only does a lack of claims keep your insurance premiums at a semi-fixed rate, but you can also save with this policy discount.

Paid-in-full discount

Pay your insurance premium upfront when purchasing your policy. By doing this, some insurance companies may offer you a paid-in-full discount on the cost.

Alternative fuel discount

The type of vehicle you have will impact your insurance rates. For this reason, it may be wise of you to switch to hybrid or fully electric cars. Not only will this be environmentally friendly, but some insurers may also offer a discount for switching.

Military discounts

Seniors who are retired military members may qualify for a military discount. This may also be available to retired government employees. Ask your insurance agent about eligibility. Insurance companies can also offer coverage to service members and veterans.

Low mileage discount

Since you are a senior, you are probably retired, meaning you no longer have a daily commute. Due to this, seniors are likely to drive less. Insurance companies may offer drivers a break for this.

Defensive Driving Classes

Several insurance companies will offer discounts on rates following your completion of a driving class.

Driving classes will help drivers improve their skills and remind them how to be defensive drivers. It covers subjects like how aging affects driving, how to adapt to these changes, and how to navigate challenging driving situations.

These defensive driving classes for seniors may be offered in-person and virtually online. They are generally cheap, too, with some costing around $20. Check with your state’s insurance department or AARP to see which classes qualify for insurance discounts before signing up.

Adjust your Auto Insurance Coverage

Your car insurance type is one of many things drivers should be re-assessing as they hit an older age. Switching to pay-per-mile insurance is a good start, but you should also look into your coverage types and where your deductibles are set.

Take note of the various details of your car insurance policy. You can remove coverage like GAP insurance if your vehicle is paid off. At the same time, you may not need as much collision coverage and comprehensive coverage because you are not driving as often.

Drivers can adjust their limits or get rid of them completely. Removing collision and comprehensive coverage may be worth it if your vehicle is older since it’s not worth much money anymore.

Taking away coverages you do not need will decrease your car insurance rates. But it would help if you were sure you could do without the coverage you are giving up. You want to avoid getting in an accident when underinsured.

When it comes to your deductible, consider raising it for a lower insurance premium. As a general rule of thumb, the higher your deductible, the lower your insurance premiums. When you set your deductible, you promise to pay that much out of pocket in an accident.

The more you are willing to pay, the less your insurer has to pay out. Remember, ensure you can pay what you set your deductible at. Lower insurance rates can be appealing. However, it will only be worth it if your deductible is reasonable for you to afford.

Bundling Insurance Policies

Drivers bundling insurance policies can be a great way to save money on their annual premiums. Bundling means that you carry multiple insurance policies with one company. As you retire, you may make dream purchases, such as a boat.

For that, you are going to need boat insurance. Before purchasing a boat policy from a new insurance company, see if the insurer your auto policy is with offers boat insurance.

Having both policies under the same insurance company may give you a break on your rates. This can also be done with other policies like homeowners and life insurance.

Compare Quotes from Multiple Vehicle Insurers

One of the most important things seniors can do regarding insurance is to shop around and compare quotes. Drivers should get quotes from national and local companies to get a good idea of coverage.

Insurance premiums and subsequent coverage vary from insurance company to insurance company. To ensure you get the best coverage at the best price, drivers should research and get multiple quotes. Calling companies to speak with an insurance agent can also be very beneficial.

Get Senior Auto Insurance Quotes Today!

Ready to get a Senior Auto insurance policy? Call us today to get free cheap car insurance quotes. Make sure you let us know your zip code, your driving history, and information on your car(s). We can better understand the coverage you need by providing us with all this.

You can get a quote at one of our many locations or online via our website and mobile app. You can also start your quote over the phone. Get Senior Auto Insurance coverage today and drive worry-free tomorrow.

Get a Senior Car Insurance Quote Online or call Insurance Navy today at 888-949-6289

* Senior Auto Insurance may only be available in some states; please call an insurance agent for more information.