The rates you pay for car insurance depend on the following: the make and model of your car, how your car is used, which includes how often and how far you drive, where you live, your driving record, and what demographics you belong to. Regardless of your age, you can save money on auto insurance by investing in a car that your insurer considers safe and low-risk and by having a clean driving record. However, as a senior citizen, are you entitled to more savings? Read on to find out.
Senior citizen discounts
Many insurance companies offer discounts for drivers aged 65 and older. The discount you are entitled to varies from company to company. Some companies also specialize in insuring older drivers, such as those aged 50 and above. These companies offer lower premium rates than others, especially for senior drivers who have a good driving record.
In Ontario, all insurers are required to offer an auto insurance discount to retirees aged 65 and up and to younger retirees who are receiving a Canada, Quebec, or Income Tax Act-registered pension. Check the laws in your province to see what other discounts you are entitled to as a senior citizen.
It’s a fact of life that aging can slow down our reflexes and impair some of our abilities such as vision. Although senior drivers have considerable experience that will help them drive safely and well, it’s good to be educated on how age can adversely affect your driving. By being aware of these changes, you can anticipate what to do in order to maintain a good driving record and avoid accidents. Senior drivers should enroll in educational programs tailored to help them continue driving safely. Not only will you cut down on your auto insurance costs by having a good driving record, but more importantly, you’ll have less chances of being injured or injuring others when on the road.