For senior citizens, the cost of owning a car can be a very significant living expense. Even if your vehicle has been paid off, insurance costs can cut into retirement funds pretty quickly--and it doesn't help that the cost of car insurance typically rises after a driver reaches age 65. For many drivers, this can seem unfair--they've worked their lives to keep a clean record with few incidents, few traffic citations, and decent coverage, but regardless of these factors, senior car insurance tends to cost more than insurance for other age groups. Understanding why rates go up is of key importance for any older driver looking for more manageable car insurance coverage. This is a highly important factor as senior citizen on the road.
As you're probably aware, car insurers use statistics to decide a driver's car insurance quote, and unfortunately, senior citizens tend to make a higher than average number of claims. As a result, the entire age group is "punished" with higher rates for the same amount of coverage. Women tend to pay more than men past the age of 65, because statistically, they're more likely to make a claim. This is a reversal from how gender relates to other age groups; some insurance companies have speculated that older women tend to let their husbands drive, and after being widowed, they're less experienced behind the wheel, which leads to more claims and higher car insurance quotes.
Seniors looking for ways to keep car insurance costs down should contact their insurance companies for tips. Most insurance companies offer some types of discount programs, which might offer lower rates to drivers who park their vehicles in closed garages or drivers that take defensive driving courses. Defensive driving courses are an especially good idea for older drivers, as they can provide a quick refresher on basic driving techniques and decrease insurance costs at the same time. Also, senior car insurance will cost less on a safer vehicle. Before buying a new car, minivan, truck, or SUV, look into safety ratings. These are available online or at many car dealerships.
It can be tough to keep your insurance costs down without a bit of research. Every few months, you should search for several car insurance quotes online to make sure that you're not paying too much for your coverage. Online cost comparison websites can be very helpful. You should also double check your rates after any change--this will help you understand why your rates are changing, and what options you have if you decide to switch insurers. Nobody likes to see higher premiums, but senior citizens can still keep their rates at a reasonable level with some research and preventative action.