Car insurance for seniors

Car insurance rates tend to start increasing once drivers reach a certain age—usually the later stages of “middle age” and the early senior years—but that’s not a hard and fast rule. Many factors can impact car insurance rates, and age is just one of them.

Many people assume their insurance rates will go down as they age, but the reality is car insurance rates can actually vary pretty widely across age groups.

Let's take a closer look at the factors that affect car insurance rates for seniors, why your car insurance rates may increase as you get older, and the steps you can take to find affordable insurance options.

As we mentioned above, car insurance rates for mature drivers aren't calculated according to just one factor. Along with your age, car insurance companies may also consider your:

• Mileage: The more time you spend behind the wheel, the more opportunities you have to be involved in an accident. Reduce your annual mileage, and you could potentially reduce your rates.

• Driving history: Are you a safe driver with a clean driving record? If you've maintained this status for several years, you might qualify for discounts.

• Vehicle type: Newer vehicles with safety features like blind-spot warning systems, rearview cameras, and collision avoidance technology can help reduce accidents and keep your liability insurance premiums low.

The newer your vehicle is, the more expensive your first-party insurance coverages (like collision coverage) will likely be, since the vehicle is comparatively more expensive.

As people age, their reflexes, vision, and hearing can decline, which can impact their ability to drive safely—and increase their accident risks. Of course, every driver’s situation is unique, but here are some insurance industry trends for drivers as they age:

Insurance companies tend to consider drivers in this age range among the safest on the road because of their lengthy driving experience and the fact that many people haven’t yet experienced vision or hearing loss that can impair their driving ability.

However, if you have a history of accidents or driving violations, you could see higher monthly rates than your friends of the same age.

Once you enter your 60s, you might notice your insurance rates begin to increase slightly. This slight uptick in rate is because many people’s reflexes and response times begin declining in their 60s, which can increase their risk of accidents and injuries.

As you enter your 70s, your insurance rates may continue climbing as more people your age are affected by health issues. But don’t worry—you can still find affordable insurance options. For instance, if you've completed a defensive driving course or have a car with specific safety features, you might be eligible for discounts.

For drivers aged 80 or older, car insurance rates can be higher than any other age group—even teens and new drivers.

You may be able to lessen these increases by reducing the amount you drive, passing a defensive driving course, reviewing your current policy for coverages you no longer need, and talking to your insurance agent about discounts available to you.

You can also take steps to help protect yourself and others while driving, such as:

• Taking regular breaks if you need to drive long distances

• Avoiding driving during peak travel hours or in bad weather

• Scheduling regular medical checkups and vision and hearing tests

It depends. Many drivers assume their insurance rates will go down when they enter retirement—after all, they think, "I won't be driving nearly as much!" But the reality is a little more complicated.

Some insurance companies offer special discounts to drivers who minimize their hours on the road or who drive for pleasure rather than for a daily commute. But your car insurance rates could also increase at this stage of life. Along with the health factors listed above, if your retirement plans include frequent travel or extended road trips, your insurance rates may actually rise to account for your increased time behind the wheel.

As is often the case, your car insurance premiums will vary based on your insurance company's rating factors.

It's worth checking with your insurance company to see if they offer any additional car insurance discounts or perks for mature drivers. Even if they don’t, you could potentially qualify for several broadly available discounts.

With Dairyland® auto insurance, you could save money with the following discounts (depending on your state):

• Multi-car discount

• Advanced quote discount

• Payment frequency discount

• Homeowners discount

• Anti-theft discount

As a senior driver, what can you do to secure cheap car insurance if you've got some dings on your driving record? Some insurance companies offer accident forgiveness or otherwise work with high-risk drivers. These companies can help you stay legal on the road even if you have one or more of the following in your driving history:

• At-fault accidents

• Insurance lapses

• Driving under the influence (DUI) or driving while intoxicated (DWI) citations

• Speeding tickets or other traffic violations

There’s no one-size-fits-all solution for car insurance for seniors. While some things are out of your control—like your age—there’s plenty you can do to secure the coverages you need at a price that works for you. Start by:

• Comparing rates

• Asking about discounts and payment plans

• Completing a defensive driving course

We can help you find the right auto insurance policy for you, whether you’re young or young at heart. Give us a call at 888-344-4357 for a free auto insurance quote.