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Tips and Guides

5 Tips For Seniors To Get Lower Car Insurance

By CarsFellow

October 29, 2018

Auto insurance companies walk a fine line when it comes to seniors. On one hand, seniors pose a driving risk due to age-related conditions like poor vision, hearing, or mobility. On the other, seniors are some of the safest drivers, according to Consumer Reports. Insurance companies are recognizing this and rewarding mature drivers. If you’re over 60 and still competent to drive, here are five ways to lower your car insurance.

1) Buy a Car That’s Cheaper to Insure

If you’re an empty-nester, do you still need to drive the biggest SUV on the block? As for that flashy sports car you dreamed of buying the day you retired, let it remain a dream. Sports cars and high-end luxury vehicles are the most expensive to insure. If you want cheaper insurance, choose a cheaper car to insure. The Subaru Outback, Jeep Wrangler, and Honda CR-V are all excellent vehicles with low insurance rates.

To find the right car, join the AARP (American Association for Retired Persons). The AARP’s Auto Buying Program helps you compare vehicles, pricing, and safety ratings. Plus, the Buyer’s Bonus offers up to $2,000 in additional benefits like auto deductible reimbursement and auto repair expense reimbursement.

2) Take Advantage of Senior Discounts

Growing older has its benefits. Insurance companies know that seniors are responsible, keep their vehicles well-maintained, and drive cautiously. This lowers their risk profile. For that reason, many auto insurance companies offer discounts to silver-haired drivers. These include:

3) Take a Defensive Driving Class

Older drivers have years of driving experience behind them. However, as we age, our reflexes slow and we become less confident on the road. Have you noticed that you’re overly cautious, hesitate when switching lanes, or feel nervous in heavy traffic?

To overcome this, take a defensive driving course. The AAA (American Automobile Association) offers a seniors’ driving course, plus various programs, assessments, and medical evaluations to assist senior drivers. Refreshing your driver skills will boost your confidence. It’s also a factor most insurance companies consider when recalculating your insurance rate.

4) Renegotiate a Rate With Your Insurance Company

Many people miss out on insurance savings because they forget to inform their insurer of changes in life. If your circumstances have changed in any of the following ways, call your auto insurer and renegotiate a rate.

5) Shop Around For The Best Insurance

As a senior, every penny counts. Living frugally will help extend your retirement savings. Insurance is one area you can save money. Your car insurance premium is not cast in stone. Life changes, and along with it, so do your driving needs. Your insurance rate should match that. Shop around for the best auto insurance. Research by The Zebra shows that Geico, followed by Progressive, provides the lowest car insurance rates for seniors.

Age is simply a yardstick insurance companies use to measure risk. If you maintain good health and refresh your driving skills, there’s no reason to hang up your car keys early or endure high insurance rates. In the United States, 40 million people over the age of 65 carry a valid driver’s license. Of those, 3.5 million are 85 and older! Seniors are certainly not going silently into the night.