The Major Factors When It Comes To Auto Insurance For Seniors

By barbarawhite1956 on January 22, 2011 In Autos

With recent changes, a lot has changed when trying to find auto insurance Ontario. The needs and concerns of today’s senior drivers are very different from the typical grandmothers and grandfathers of the past. Today’s senior lifestyle is much more mobile, life expectancy is so much higher, and some seniors own more than one home, many times traveling between homes several time each year. Elderly drivers tend to have completely different needs as opposed to the rest of the population. However, elderly drivers, just like everyone also want to save a few extra dollars at the end of the month on their insurance. So, here are the most common factors affecting senior car insurance quotes.

Age May Actually Get You Better Insurance Rates

As much as some of us would like to, we just can’t turn back the clock. There are a number of advantages and disadvantages that come with age. One of the advantages may be a good thing for senior drivers when it comes to getting lower rates on car insurance. Over the age of 55, most companies give you a 10% discount on insurance roughly. The insurance firms will find you to be a very safe driver if you don’t have any younger people attached to your policy or any previous car accidents.

Many companies offer retiree discounts and rebates that start when you retire. A few companies offer discounts for low mileage policies and if you don’t commute to work, then it might be worth your time. Low mileage insurance policies are based on coverage that protects you up to a certain maximum amount of mileage each year. The policy for low mileage is great for a retired driver who does not do the daily commute to work every morning. Both of these discounts have a positive effect on car insurance rates and work in favor of senior drivers.

Things That Can Increase The Price Of Your Car Insurance

Typically, vehicle insurance rates for seniors are going to be higher. The hard truth is that rates for senior drivers over the age of 70 are higher because they are simply not young anymore and are at higher risk for being involved in an accident. Even if a senior has a spotless driving record, insurance rates will be higher after age 70.

Because our eyesight deteriorates as we age and our reflexes get slower, we are considered to be more risky drivers. These factors combined with a few other concerns are responsible for the insurance rates that we receive. Even though many firms don’t give coverage to people older than 80, some firms do give coverage even higher. It’s best to make certain you know all the details that pertain to your particular situation.

The vehicle that you have is also very important for your insurance rates. Less luxurious cars are probably a good idea, because they will cost you less over time in both repairs and in insurance costs. The smaller the engine, the less risky you are considered.

Comparing among different rates is bound to save you a significant amount of money, so do not hesitate to search around before committing to a policy. Automotive Insurance websites will allow you to find a lot of information in a short time. If you still have questions, contact your insurance agent or representative directly to get some answers about factors affecting senior’s car insurance quotes.

It’s tough to find cheap auto insurance in Ontario without a service like Kanetix. You can calculate your lowest potential insurance quotes by comparing many insurance companies in Ontario.