Your car insurance rates when you reach a certain age will increase. You may not notice it until such time when you see the premiums that you have to pay. Your driving record may remain clean and your driving habits may be the same when you are younger. Yet, your car insurance rate will increase when you age.
Auto insurance rates usually drop when you become mid-aged. Your years of having a clean driving record, your experience in driving, and your loyalty will pay off. By the time that you reach your 50s though, you will notice that your car insurance rates do not seem to be as low as compared to when you were in your mid-30s. The times of cheap car insurance are gone and the premiums start to rise. But why?
Some studies show that people who reach their senior years are more prone to accidents as compared to those who are middle-aged. This may be due to the dwindling reflexes, poor eyesight, and so much more. Some seniors would also need to take medications that can make them less aware of their surroundings. Seniors will also have the tendency to suffer from graver injuries because of their current health condition. Learn more about this when you check www.americaninsurance.com.
Auto Insurance Costs for Seniors
Do remember that not all insurance companies will start charging the same rate at a certain age. There are some that will allow you to have great rates until you reach your 50s. There are some who would drastically change your insurance premiums and so much more. You can research and know more about the different car insurance providers so that making the right choice will be easier to do.
- Auto Insurance in Your 50s
The car insurance rates of people who are in their 50s will still be lower as compared to those who are 60 years old and older. Those who are in their 50s are considered to be the safest drivers because their reflexes are still quick plus they have all the experience that will allow them to calculate their moves properly. Common full rate insurance for people who are in their 50s would be around $500 a year.
- Auto Insurance in Your 60s
When you are still in your early 60s, you do not have to worry about higher premium rates. It is possible that you will still pay the same rate that you have paid for when you were in your 50s. The moment that you reach the age of 65, that is the time when your rates will start to increase. If your current insurer does not give the type of insurance rate that you feel you deserve, it is time to shop around for a new car insurance company. The average rate for someone who is 65 years old is almost $600 a year.
- Auto Insurance in Your 70s
The car insurance rate in your 70s will definitely increase. Your reflexes are going to be slower and you may also have some hearing and sight difficulties that will hinder you from driving the way that you used to. Some studies show that those who are 70 years old and above are more likely to become involved in accidents as compared to those who are younger. This means that there is also a higher chance of getting more claims as compared to before. The rate for those who are 70 years old and above is usually a little about $700.
State Laws Specific to Seniors
There are a lot of laws that can apply to seniors depending on the place where they currently live. There are 33 states in America plus the District of Columbia that will require that renewals for the driver’s license can be more frequent for seniors. This will make sure that seniors will still be fit to drive in spite of their age.
- There may be no mail renewals anymore when the person reaches 70 as per the law of California and Arizona.
- Colorado requires a vision exam before allowing a renewal.
- In Illinois, a senior would need to take a road test before the license can be renewed. The senior would also need to renew his/her driver’s license by the time that he/she reaches 80 years old.
- In Missouri, a three-year renewal will start at the age of 70.
- In Maine, the four-year renewal will start when the senior reaches the age of 65. There is also a need to submit the results of a vision test the moment that the senior reaches the age of 62.
There are still so many laws that are being implemented in different states. It is best that you get to know as many details as you can about automobile insurance for veterans and your requirements depending on where you currently live.
How Your Age Affects Rates
The current population in different parts of the world are now known to live longer as compared to before. This means that more and more senior drivers will be driving going to their chosen destinations. Insurance companies usually base the rates that they give on statistics and the research that they have done regarding different drivers.
According to their study, senior drivers are known to have a higher chance of getting into accidents because their reflexes and their senses are not as good as they used to be. If you are a senior citizen and you are starting to experience some changes with your vision, your hearing, and so much more, it is time to evaluate if you would still be fit enough to drive.
License Issues for Seniors
The license needs to be renewed more often for seniors. It will depend on the state where you currently live to determine how often you should renew. There are times when you need to renew every five years. There are some that you have to renew every three years, and there are also some that would require seniors to renew their licenses every two years. This is to ensure that seniors who will be given license renewals are still fit to drive.
Ways to Keep Down Your Auto Insurance Rates
It is already expected that as a senior, you are going to have higher insurance rates as compared to when you were younger. Still, there are certain things that you can do to improve your current insurance rates:
- Maintain a clean driving record. This may not mean much but it will make a difference when you are trying to get a lower premium.
- Take a driving course. This can help assure that car insurance company that you are trying your best to improve your driving abilities even at your age.
- Consider getting a safer car. There are some cars that are considered to be safer than the rest. Cars that are considered “safe” will have more safety features such as collision alarm systems, and so much more.
Can A Senior Driver be Added to Your Insurance
There are some seniors who still insist on driving and their children may feel that they need to give what their aging parents want. It is still the choice of the insurance policy-holder to add a senior driver. This will ensure that you are not violating any rules if the senior driver decides to drive without getting insured.
If the senior comes with an amazing credit score and clean driving record, this may actually help you get better car insurance rates than what you have expected.
When is the Time to Stop Driving?
Let us say that you have driven almost all of your life and you feel that you still want to drive. The thing about driving is that it is not the safest thing that you can do especially when you do not have the same amount of concentration and focus that you used to have. If you know that you are driving more erratically than usual or you sometimes miss stop signs, these are signs that perhaps you should retire from driving.
The details that are mentioned above are meant to help you improve your safety as a senior driver. Consider all of the information and decide what you are going to do next.