Motor Vehicle Insurance for the Elderly
Senior car insurance may be priced differently than for other adults.
Just like for all people seeking car insurance, insurance companies will look into the location of residence, the mileage driven, the make and year of their motor vehicle, and the driving record to determine a price.
But there are special factors for insurance companies to consider when determining the price of a car insurance policy.
People aged 75 or older have a 37% higher chance of being in an accident.
Car insurance rates will reflect this high risk.
Not only is there this high rate, but the costs associated with an accident can be drastically higher.
Many people of this age will have health conditions that make them fragile.
Therefore even a small injury can turn into something serious.
There is also a higher risk of death.
Therefore, if an accident does occur, the insurance company will be responsible for paying these medical bills.
Companies are thus cautious with insuring seniors.
However, no matter the risks, they cannot deny coverage.
Luckily, seniors can obtain affordable policies.
Responsible drivers may be able to prove to their insurance companies that they deserve a discount.
The providers will look at such things as whether or not the driver has taken safe driving classes.
Many classes are geared toward seniors and, if taken, can result in a decreased premium.
Being in good health will also aid in saving some money on car insurance.
For drivers needing special assistance, there is safety equipment available to install into cars for elderly with disabilities.
Seniors also drive much less miles than others.
Less time on the road translates into the lower possibility of an accident.
Many seniors will keep close track of the mileage on their vehicle.
If they show the companies that they don't use their vehicles often, a company will most likely offer them a "low-mileage discount.
"
Just like for all people seeking car insurance, insurance companies will look into the location of residence, the mileage driven, the make and year of their motor vehicle, and the driving record to determine a price.
But there are special factors for insurance companies to consider when determining the price of a car insurance policy.
People aged 75 or older have a 37% higher chance of being in an accident.
Car insurance rates will reflect this high risk.
Not only is there this high rate, but the costs associated with an accident can be drastically higher.
Many people of this age will have health conditions that make them fragile.
Therefore even a small injury can turn into something serious.
There is also a higher risk of death.
Therefore, if an accident does occur, the insurance company will be responsible for paying these medical bills.
Companies are thus cautious with insuring seniors.
However, no matter the risks, they cannot deny coverage.
Luckily, seniors can obtain affordable policies.
Responsible drivers may be able to prove to their insurance companies that they deserve a discount.
The providers will look at such things as whether or not the driver has taken safe driving classes.
Many classes are geared toward seniors and, if taken, can result in a decreased premium.
Being in good health will also aid in saving some money on car insurance.
For drivers needing special assistance, there is safety equipment available to install into cars for elderly with disabilities.
Seniors also drive much less miles than others.
Less time on the road translates into the lower possibility of an accident.
Many seniors will keep close track of the mileage on their vehicle.
If they show the companies that they don't use their vehicles often, a company will most likely offer them a "low-mileage discount.
"