When it comes to determining automobile insurance rates, age is one of the primary factors insurance companies consider. In general, a driver’s age is a good gauge of your driving experience and accident risk — the more years behind the wheel you have, the less likely you are to be involved in a collision and submit an insurance claim, and the more attractive you are to your insurance company. An exception to that measure is older drivers. In fact, the insurance rates jump between the ages of 60 and 70-year-olds is 18%!
Why do Seniors Often Pay More for Car Insurance?
Insurance companies set their rates based on age groups based on the general driving habits of that age group, so even if you’re a good Dallas, TX driver with a clean record, your rates will probably rise as you age. As a group, statistics show that senior drivers are more accident-prone than younger age groups. Some of the reasons for this may be changes in vision and hearing, medications, health conditions, and slower reflexes. As well as possible changes to safe driving habit changes, statistics show that regardless of collision severity, senior drivers suffer more severe injuries and more fatalities than their younger counterparts.
How to Keep Insurance Premiums Low
While the fact is that if you are over 65, your auto insurance premiums will typically go up, there are a few ways to keep costs lower. Here are a few ways State Insurance Solutions recommends to do that:
Change your driver status – 65 is the age many people choose to retire, meaning that you likely won’t be commuting to work anymore. By reducing the miles you drive in Dallas TX every year, you can see significant savings on your rates. Talk to your agent to review your status and change the number of miles you drive to “leisure”.
Take a Safety or Accident Prevention Course — Many insurance companies offer in-person and convenient online safe driving classes that could save you up to 10%, however, the actual amount will depend on all factors considered, including your previous driving record.
Join a Membership Club – Many organizations such as the AARP offer a promotional price called an “affinity discount” to senior drivers.
For more information about how to keep your insurance rates low during your senior years, call State Insurance Solutions and speak to a friendly agent today!