Is it true that getting auto insurance for a 55-year-old person is more expensive as compared if you are only around 35 years old? I heard this from a friend. What does age has to do with auto insurance rate? Can you explain this?

Dave

Manchester, NH

Every auto insurance company differs from each other. They have their own guidelines in setting auto insurance rate for a particular person.

Some car insurance companies do consider a person who is 55 years old as a safe age. Meaning a person from that age group still poses a lower risk to be insured. Thus, it is still inexpensive to insure a person from that age range. However, some auto insurance companies believe that a person who is 55 years old or above poses higher risk. That is because some auto insurance companies believe that a person’s ability to drive safely decreases as a person ages.

I would suggest asking your auto insurance agent about how age affects a person’s auto insurance rate in Manchester, New Hampshire. Also, bear in mind that auto insurance rate is not based in age alone. There are a lot of factors that insurers consider and one of them is driving record. I would suggest keeping a clean driving record at all times is one sure way of saving on your car insurance premium.

Just a quick question: I have a 90 year old parents, should they still be driving?

Henry

Los Angeles, CA

It depends upon their abilities actually. While the eyesight, reflexes, hearing, and other faculties of some seniors are more than adequate for operating a vehicle, the driving abilities of other individuals may deteriorate badly with advanced age. These factors cause auto insurance rate premiums to rise for motorists entering their 60s, and to increase thereafter. This increase is usually moderated by other factors, which may include discounts for fewer miles driven per year. Another way for your parents to improve their skills–and probably reduce the cost of their auto insurance–is by taking a driver improvement course.

What kind of insurance discounts can I get from insurance providers in Kentucky if I am turning 50 next month. In addition to that I also have a good driving record for several years.

Martina

Lexington-Fayette, KY

Congratulations on having a clean driving record for many years.If you are lucky enough to be retired, some insurance companies will provide a discount to retirees receiving a certain type of pension. There are also some discounts provided to the mature driver however many insurance providers start this discount at age 55.

There are also other discounts that you may want to ask for when renewing your car insurance or starting a new one. Some insurers will give you a discounted rate for low-mileage vehicle use, two or more cars on one policy or having loss prevention devices installed in the car (car alarm, etc). Many insurance providers in Kentucky will give long-time policyholders with no claims and a good driving record or safe driver discount.

I’m reaching retirement age and I know that means that there will be some changes on my auto insurance policy. Can you give me a hint as to what I have coming?

Gilbert

Great question, Gilbert.

Whenever you get to that point where it is time to retire, you reach the point of your car insurance history where you will have the lowest rates ever. This starts when you turn fifty and officially become a part of the car insurance industry’s lowest risk group, those who aren’t quit middle aged but aren’t quite seniors. It will last until you reach sixty five, generally, so enjoy it while you can.

Now that you are of this age, it is true that there are some changes that can be made, and not just in the initial rates. If you are around fifty five, you will be open to discounts marketed specifically for seniors, and as a retired person, you will probably be able to get some kind of car insurance discount through the American Association for Retired People, or AARP. Most car insurance companies will do whatever trey can to help you get better rates, because you are part of their favorite risk group.

If you have a long history of safe driving, you can get extra discounts for this, and you might want to consider taking a defensive driving course through AARP. If you take a course, you could get as much as a fifteen percent discount with some companies, and it couldn’t heart to remind yourself a bit. Another good way to go is to make sure you are doing well healthily. You are reaching the years in which the health states to decline, and getting regular eye and medical exams can help keep car insurance companies confident that you are road safe.

As soon as you turn seventy, though, your rates go up again because of failing health and the statistically greater amount of accidents in this age group. Save your money while you can.

Cheers,

Fashun Guadarrama.