Senior citizens, much like teenagers, are regarded as an increasingly high risk by insurance companies. Once you turn 60, you might notice coverage rates going up. You may be billed as much as one and a half times the value of the insurance paid by a driver in his forties, even though you have a spotless driving record, have been with the same company for many years and always pay your bills on time.
As you age, you may find that your driving skills have changed.
These are, however, mere statistics, so you shouldn’t take the insurer’s evaluation personally. There are a lot of great drivers who are pushing 80, and you can be one of them. Here is what you can do to get better insurance quotes.
If you are happy with your current insurer, don’t switch to another carrier for the sake of a few dollars spent. You may be eligible for a discount between 10 and 20 percent upon the renewal of the policy. Some insurers offer this discount only after being for more than four years with them, so make sure you ask for the eligibility criteria.
You can receive another cut in the insurance premium just for being a member of a certain club, being affiliated with a certain organization, being a war veteran or holding a certain credit card. Ask for a list of available organizations and see which one(s) you may be eligible for.
Ask your insurance company or the local DMV for a list of state-accredited companies that offer defensive driving classes. Such a course will not only entitle you for a discount of up to 15%, but will also teach you how to be a better driver.
If your car is worth a few thousand dollars, you should strongly consider giving up on every insurance package and option on top of liability. If you total your car, you are probably going to receive less than three years’ worth of policies, which is quite a sucker bet. Save the money you were going to spend on auto insurance and pay for eventual damages out of your pocket.