Seniors seeking the best car insurance have several options that likely fit within their budget and that meets their auto insurance needs. While some sources potentially try to make obtaining car insurance a difficult and expensive undertaking, there are options that make obtaining car insurance an easy task, and that possibly provide savings for budget-minded seniors.
This car insurance guide from The Senior List provides details about car insurance specifically for seniors and answers some common questions that seniors likely have about obtaining affordable car insurance that meets their needs.
Seniors and Car Insurance Basics
Seniors looking for car insurance potentially receive information about obtaining auto insurance from online sites, from well-meaning loved ones, and from advertisements. The varying information likely overwhelms some seniors when it seems that every source provides different information.
State laws require that all drivers have insurance, including seniors. The various states possibly differ somewhat regarding the amount of minimal insurance required from one state to another state, which makes it important that seniors know the laws regarding the minimal amount of car insurance required in their particular state.
The courts likely do not accept any reason for driving without auto insurance, and there are penalties if you drive without valid car insurance. Seniors, like drivers in other age groups, face possible fines, having their car towed, or receiving a suspended license if driving without valid car insurance.
The Insurance Information Institute (III) provides information about different types of auto insurance coverage.
Minimum state coverage is typically referred to as liability coverage. Liability auto insurance coverage pays the policyholder’s legal responsibility, or liability, to other individuals for bodily injury, or property damage.
Medical coverage, often an auto insurance option, pays for the medical costs associated with treating injuries, pays for rehabilitation, and in some cases, for lost wages, or funeral costs.
Property damage coverage pays for damage to your car or for theft of your car.
Collision coverage pays for damages to your car when the damages resulting from a collision with another vehicle, or when there is a collision with an object. This is the coverage that some seniors purchase that pays for damages caused by potholes.
Remember, that the higher your collision coverage deductible, the lower you pay for your premiums.
Comprehensive car insurance coverage reimburses policyholders, including seniors, for losses caused by things or events other than a collision. This includes fire, theft, falling objects, some types of natural disasters, or animal contact, such as with a deer.
Uninsured or underinsured motorist coverage is another option that seniors sometimes consider when purchasing car insurance. When a driver, including a senior driver, is hit by an uninsured or underinsured driver of another vehicle, this coverage reimburses policyholders when the at-fault driver has insufficient or no car insurance coverage.
There are several optional types of coverage available when seniors purchase car insurance. Discuss your specific needs with your agent or a trusted loved one.
How Do Seniors Get Car Insurance?
There are a variety of options for seniors seeking the best car insurance for their needs and budget. Seniors often purchase car insurance by responding to mail advertisements listing a particular car insurance company and an agent’s name, while other seniors call directly after seeing advertisements on television or online.
Are you a senior considering applying for car insurance online? Make sure that you understand the potential risks, particularly when asked to enter your personal information online.
Scammers sometimes create fictitious websites that trick seniors and other internet users into believing that they are on the actual website of a specific company. Always look for a website address beginning with ‘https' and not ‘http,' if considering purchasing car insurance online.
There are many popular, well-known car insurance companies with strong reputations of serving clients with a variety of car insurance products. Some seniors choose to consider several car insurance companies before choosing the best one for their needs and budget.
Do Seniors Have More Difficulty Getting Car Insurance Compared to Other Drivers?
Some seniors possibly believe that they cannot obtain car insurance because of their age.
There are several factors that determine whether seniors pay more for car insurance, compared to drivers of other age groups. Carefully consider your options when a company claims that they charge seniors more for car insurance because seniors have more car crashes, and are not as responsible as younger drivers. The fact is that the number of seniors killed in car crashes is on the decline, a fact that AARP indicates comes from the Insurance Institute for Highway Safety (IIHS). The number of seniors ages 70 and older killed in vehicle accidents decreased by 18 percent over the past several years.
Look for a car insurance company that does not penalize seniors because of their age, given the recent statistics showing a downward trend in senior car crash fatalities. Some car insurance companies sell policies specifically with seniors in mind, choosing to reward them for certain activities or to present them with discounts.
Choose a car that is cheaper to insure than a high-end luxury vehicle, a sports car, or a car often targeted by car thieves. Seniors typically pay less for insuring other car models.
An article in The Simple Dollar indicates that seniors possibly pay less for car insurance when using anti-theft devices. The article writer points to the possibility of receiving discounts for actions such as using low mileage. Seniors often drive less than younger drivers do, so ask about a low mileage discount for seniors when you speak to a car insurance agent.
Seniors sometimes receive a discount on car insurance when they successfully complete a driving safety course. Discuss all possible discount options with your insurance agent. Ask about other ways of lowering your car insurance costs before you sign on the dotted line. Do not wait for the insurance agent to mention potential discounts for seniors.
Are There Other Facts That I Should Know About Car Insurance for Seniors?
Read the entire policy before you purchase car insurance. Consider taking a trusted family member or a friend along when meeting with an agent to make sure that someone you trust is there to help with the process of obtaining car insurance. When you have someone with you, there is an extra set of eyes to review the policy, read the fine print, and ask questions.
Shopping around likely seems tiresome to some seniors. When you shop around, you avoid the mistake of purchasing car insurance from the first company that you contact, only to discover later that this was likely not your best option. Contacting several companies provides a clear picture of various companies, their policy options, and your potential costs of car insurance at each company.
When you seek out the best car insurance that meets your individual needs, that fits within your budget and possibly offers discounts or other benefits for seniors, you likely choose ideal car insurance that provides exceptional coverage for seniors.