Is Auto Insurance More Expensive for Seniors?
For seniors who are considering getting car insurance, they may have heard a rumor that car insurance costs more for senior citizens. It is true that seniors typically do pay more for insurance than the average person who is of middle age. In fact, this insurance can be far more expensive for them. There are a number of reasons why this is the case.
Insurance companies know all too well that seniors count as higher risk drivers. They have statistics backing this claim up. Drivers in their sixties tend to get into more accidents. They are also susceptible to being severely injured and generally do not survive these injuries from accidents. With a number in excess of thirty million drivers in America who are older than sixty, they get into more than six thousand accidents per year. Out of the six thousand accidents, the majority of seniors do not survive.
Seniors also have to pay more for car insurance because their critical senses begin to diminish at this time in their lives. Most of the time, seniors will suffer from losses in hearing and vision, and be victims of medical challenges. These difficulties will undoubtedly influence their chances of getting into an accident. As their senses are less sharp and keen, their odds of causing or being involved in a collision are simply far greater. Besides this, many seniors lose their concentration or become distracted more readily. Their reactions are also slowed, which can cause other accidents ranging from moderate to severe. Now, this is certainly not the case for all senior citizens, but it does not matter. Car insurance companies are working off of actuaries, or odds of something happening to a certain age or demographic group. This means that all senior citizens will be penalized for vision, hearing, and medical problems, regardless of whether they are healthy or not. Insurance companies are simply trying to protect themselves and their other customers from the risks associated with paying out too many claims without bringing in enough premiums.
Seniors can obtain discounts on their insurance. They are able to do this by taking driving classes that will help them to increase their driving skills as they get older. They can also have safety devices installed in their cars. By following these simple suggestions, at least seniors will be able to reduce the costs of their car insurance to a more affordable level.