Senior Drivers and the Best Car Insurance Premiums

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Car insurance premiums have been going up in recent years.  Most senior citizens live on a strict budget and it is not uncommon for car insurance premiums to be a major part of a senior’s household budget.  However, if you do some research, ask for some discounts, and get some quotes to compare, you can maybe secure a cheaper monthly premium, which adds money to your monthly budget.  As a senior shopping for insurance, keep these in mind:

Mature Driving Discounts

Seniors citizens continue to be some of the most responsible and safest drivers on the road.  Compared to teenagers, the chance of a crash per mile is three times higher for drivers 16 to 19 years old than for drivers 65 to 69 years old.   Keeping this in mind, most car insurance companies offer a “mature driver” discount.   A mature driver discount alone can save you 5% off your premiums. 

Take Steps to Avoid a Break-in

The more insurance claims you file, the most expensive your car insurance will be.  Take steps to avoid your car being broken into.  Always park in a well-lit, secure area, never leave the keys in the ignition and do not leave valuables such as a purse or GPS device in your car.  When you leave your car unattended, always close all windows and lock the car doors. 

Take a Refresher Course

Companies often offer a discount to seniors who take a defensive driving course.  For information on these courses, you can contact your state’s department of insurance, your current agent or the National Safety Council.  Completion of this course can lower your premiums by up to 10%.   As cost for these courses average only $20.00 to $30.00, they easily pay for themselves in lower premiums.

Don’t be Overinsured

Look at the value of your car.  Your insurance company will only pay for repairs up to the value of your car.  If you have an older car with high mileage, you might have more coverage than you can ever use. 

Low Mileage Discounts

Some insurance companies offer a low mileage discount.  If you are no longer driving children to school or driving to work each day, you might qualify for this discount.  Although mileage for this program may vary, most companies set a maximum annual mileage of 7,500 mile to qualify for this discount.  Take the time to call your agent and see if you are eligible for this program. 

Experts recommend getting three quotes before buying car insurance.  It might be well worth your time to contact your agent about these discounts and then get some additional quotes to compare.  A lower car insurance premium is money in your pocket each month.

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