Auto insurance companies love older drivers, according to an article by the Huffington Post. This is because older drivers are not only more experienced, but also are low-risk for accidents compared to – say – a teenage driver.
Most auto insurance companies offer senior policyholders a variety of discounts, although it will vary by insurer – but many of the benefits can reduce a senior’s overall premium by 15 to 20 percent, according to the article. Total discounts are often capped at about 25 percent, though.
Some of the discounts are based on things such as age, low mileage and safe driving
According to bankrate.com, the latest figures from the Federal Highway Administration (FHA), show that drivers 65 years old and over accounted for 17.4 percent of the total driving population in the U.S. in 2013. But, according an analysis by the Insurance Institute for Highway Safety, their involvement in crashes on a per capita basis is lower than any other age group.
Many car insurance companies offer a general senior discount that will reduce your premium by a certain percentage just because you've reached a specific age, which can vary from one insurer to another. The name of the discount also differs, depending on the company.
Most insurers offer discounts to customers who drive limited miles each year, according to the Huffington Post, which is often beneficial to retirees who drive less because they don’t commute to work every day. The fewer miles you drive, the lower your odds of getting into an accident.
“The parameters of low mileage differ by insurer, but generally about a 10 percent discount is available for driving less than 5,000 to 8,000 miles each year,” the article reads. “Although smaller discounts may also be available to seniors who drive more than this but less than 15,000.”
Many insurance providers also offer discounts based on safe driving. The companies take into consideration how and when you use your car. To do this, they place a diagnostic device in your car that transmits wireless data on how you drive. The device tracks the speed of the vehicle and how hard you’re braking. It also tracks when you drive, how much and how far. Drivers are rewarded for safe driving, low mileage and for not driving late at night.
In addition, many insurance providers also offer discounts to drivers who do not have any violations or accidents for three or more years.
To find out what discounts may be available to you, contact your auto insurer and inquire about these benefits, and any others that may benefit you.
Call Pachuta Insurance Today @ 706-769-2262
Most auto insurance companies offer senior policyholders a variety of discounts, although it will vary by insurer – but many of the benefits can reduce a senior’s overall premium by 15 to 20 percent, according to the article. Total discounts are often capped at about 25 percent, though.
Some of the discounts are based on things such as age, low mileage and safe driving
According to bankrate.com, the latest figures from the Federal Highway Administration (FHA), show that drivers 65 years old and over accounted for 17.4 percent of the total driving population in the U.S. in 2013. But, according an analysis by the Insurance Institute for Highway Safety, their involvement in crashes on a per capita basis is lower than any other age group.
Many car insurance companies offer a general senior discount that will reduce your premium by a certain percentage just because you've reached a specific age, which can vary from one insurer to another. The name of the discount also differs, depending on the company.
Most insurers offer discounts to customers who drive limited miles each year, according to the Huffington Post, which is often beneficial to retirees who drive less because they don’t commute to work every day. The fewer miles you drive, the lower your odds of getting into an accident.
“The parameters of low mileage differ by insurer, but generally about a 10 percent discount is available for driving less than 5,000 to 8,000 miles each year,” the article reads. “Although smaller discounts may also be available to seniors who drive more than this but less than 15,000.”
Many insurance providers also offer discounts based on safe driving. The companies take into consideration how and when you use your car. To do this, they place a diagnostic device in your car that transmits wireless data on how you drive. The device tracks the speed of the vehicle and how hard you’re braking. It also tracks when you drive, how much and how far. Drivers are rewarded for safe driving, low mileage and for not driving late at night.
In addition, many insurance providers also offer discounts to drivers who do not have any violations or accidents for three or more years.
To find out what discounts may be available to you, contact your auto insurer and inquire about these benefits, and any others that may benefit you.
Call Pachuta Insurance Today @ 706-769-2262
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