The idea that auto insurance for seniors costs more is a myth. They are usually safe drivers with a long history of insurance with one company and a clean driving record. However, they may not realize that they can save money by shopping around for a different policy.
Look For Discounts
Most insurance companies offer discounts to policyholders based on certain factors according to https://floridainsurancequotes.net/auto-insurance/florida-auto-insurance-quotes/. However, many people are not aware of the availability of these discounts or they assume they are given automatically. The reality is that they may have to ask about potential discounts before they will be applied to their policy.
Discounts that are applicable to seniors include good driver discounts for not having an accident or moving violation in a period of time. Seniors may also qualify for a discount if they take a safe driving course. If they have multiple cars with the same insurance carrier, they may qualify for a discount. This is also true if they have other types of insurance such as homeowners, renters, or life insurance through a single company.
Many people look for low deductibles when they first purchase auto insurance to reduce their out-of-pocket expenses should an accident occur. A senior can reduce the cost of their car insurance if they have enough money in savings to cover a higher deductible. When obtaining auto insurance quotes, you can use different deductible amounts to determine the amount of savings you can get. Popular deductibles are $250 and $500, but you can raise that to $1,000 and you will notice a savings.
Changes In Lifestyle
If you no longer need a second car, you can sell it and reduce your cost of insurance. You can also trade in a newer car for an older or less expensive models and save money on auto insurance quotes. If you are getting ready to buy a new car, you can determine the best model to get by looking at quotes online here prior to purchase.
If you have an older car and do not drive very often, it may make sense to drop or reduce your collision or comprehensive coverage. While you are required by law to carry liability insurance, you do not have to keep the other types of insurance for your vehicle. In fact, if you drive a car that is several years old, you may not benefit if your car is totalled in an accident. It may make better sense to save the money spent on insurance premiums for a replacement vehicle.
Seniors can often save money on their car insurance if they shop around and obtain several auto insurance quotes. If they have worked with a certain company for many years, they may be surprised to discover the rates they qualify for elsewhere. For people who live on a fixed income, this can be an important change to make.