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Over 50 Car Insurance

Written by Todd Clay. Posted in Research Last Updated: 02/20/2011

The good and the bad of over 50 auto insurance and how to take the bite out of increasing premiums.

Over 50 couple enjoying a drive

Over 50 doesn't mean the end of fun driving.

Life changes after 50. You’re getting closer to retirement (if you aren’t there already), your body is aging and your insurance is about to go through some changes of its own.

While the early years after 50 bring lower premiums, you will find that this is only for a short period of time.  The higher your age gets the higher your over 50 car insurance is going to start getting.  But, there are steps that you can take to slow down this premium increase.

The good news and bad news about over 50 auto insurance

The older a driver gets the more experience they obtain being behind the wheel.  For most, unsafe driving is a thing of the long-ago past and insurance companies reward you with lower rates as you age past your 50’s.

However, over 50 auto insurance does not continue to be a good thing as you reach further and further beyond your 50th birthday.  As you get older, your senses deteriorate and your reflexes slow. Insurance companies know from the statistics that this also makes your driving not as safe.  This is not due to any fault of your own, it is just your body getting older and you do not react as quickly to different situations on the road as you did when you were younger.

Unfortunately, this also gives insurance companies a reason to increase your auto insurance premiums and the older you get the further down the safe driver categories you will fall.  You finally fall so far down that you are rated no higher than a new teenage driver and are considered a high risk.

Decreasing Your Over 50 Insurance Premium

Just because you now have auto insurance doesn’t mean that you have to stay with the rates that your current company is charging you.  If you are not happy with your premium contact your agent or company and see if there is anything they can change or update for you to decrease your premium.  If they are still not able to decrease your rates or are unwilling to work with you, it is time to start shopping around with other insurance companies.

Start with companies that specialize in servicing seniors. Companies like AARP may be able to offer a better deal.  Also if you are computer savvy, don’t forget about the additional discounts some companies offer if you purchase their instant car insurance online.

Additional ways to save on over 50 auto insurance

  • Combine all of your insurance needs with one company for the multi-policy/multi-car discounts.
  • If you drive a collector car, look into restricted collector car insurance.
  • If you are retired and don’t drive as much, make sure that your insurance has your annual mileage listed correctly.
  • If you store your car for a long snow bird vacation, see if your insurance company can drop your coverage to comprehensive only while it is in storage.
  • Take a senior safety driving course.

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Todd Clay

Todd Clay is a former insurance agent with the largest insurance company in the United States. He earned his Bachelor’s from the University of Texas. He’s worked in several fields but has specialized in insurance, financial-related information, and technology. He blogs at Car Insurance Guidebook.

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