You may have a very clean driving record. No accidents whatsoever. However, once you hit the age of 60, your premiums become significantly higher. But why so? Persons between the ages of 24-60 are classified among the safest drivers. However, older drivers, usually above the age of 60, report more accidents than younger persons. And in a bid for insurance providers to safeguard themselves given the higher levels of risks, the cost of the car insurance coverage increases. 

Is the increase in the cost of car insurance for seniors justifiable? We have mentioned that the insurance cost for seniors increases since insurers must safeguard themselves given the high-risk levels. 

Seniors are more prone to accidents due to:

• Vision and hearing conditions due to age

• Age-related health conditions such as hypertension

• A delay in reflexes due to age. As such, it may be difficult for an older person to swerve just in time to avoid causing or being involved in an accident

• In case an older person is involved in an accident, the healing time can be longer and also more costly

Let’s see how insurance premiums change as a person gets older

A person between the age of 50 and 60 can find cheaper car insurance policies, more so if they have a clean driving record. They are still considered safe drivers, provided they are in good health conditions. 

However, you may note that your premiums start to rise once you get to the age of 60. However, if you have a clean driving record, the increase could be negligible. This is the best time to start comparing car insurance rates for seniors in Ontario. 

Drivers in their 70s are considered high-risk. As such, the premiums increase significantly. However, you can use your remarkable driving skills and a clean record to negotiate better car insurance rates for seniors in your age group. 

As you get to your 80s, it may be difficult to get lower car insurance rates. However, this does not mean that you stick with your already over-priced insurance coverage. You can still shop around and get better rates in the market. 

When looking for insurance car coverage for seniors, you will notice that most coverages for seniors are incomparable to those for younger people. 

So, how do you ensure you get the best rate for car insurance coverage for seniors? Here are some tips:

• Insurance companies that specialize in older persons have better rates- These insurance companies may offer special discounts for seniors that are not age-based. For instance, seniors who have not filed claims in a long time can coup special discounts. 

• Use various tools to compare car insurance policies for seniors- There are various online tools you can use to compare car insurance rates for seniors in Ontario. By doing this, you get to save time and select the best coverage based on your needs. 

• Combine your insurance coverages- Combining your insurance coverages is another clever way to pay lower rates. For instance, using one insurer for your car insurance and home insurance can get you better rates. Please note that not all insurers offer insurance bundling discounts. As such, ensure you shop around and get one where you will get a reasonable discount. 

• Short commute discount- Most older people do not drive long distances. While short distance commutes are also prone to accidents, longer distances are more prone to accidents considering factors such as fatigue. As such, take advantage of your short commute discount and get a discount. 

• Cut out on coverage that you do not need- You may still be paying for insurance coverage that you do not need. For instance, if you have coverage for an old vehicle, it would be best to drop it and save for a new car. You may even get lower insurance with a new car. 

• Raise your deductible- Most people drive less as they grow older. While they are still classified as high risk, the short commute and few driving hours reduce the chances of getting involved in an accident. Raising the deductible amount ensures that you remit fewer premiums. 

• Join professional associations- You may get car insurance discounts based on affiliations by joining professional associations such as the Canadian Association for Retired Persons. 

• Take advantage of a usage-based insurance plan- The use of telematics lets your insurer track your driving habits. And if they are impressive, you could get rewarded with discounts. This will be beneficial if you have good driving habits. If you have poor driving habits, do not be surprised when your premiums are increased. 

Even as you shop for seniors discounts and how to reduce your car insurance premiums, you must choose a reputable insurance provider. While one insurance provider may bombard you with all the discounts, they may be unavailable just when you need them. Here are some factors to consider when choosing car insurance coverage for seniors. 

• Claim handling- How does your car insurance provider handle claims? This is the most important aspect you want to look at before committing to one company. Whether you look for reviews online or get referrals from reputable sources, ensure you choose your senior’s car insurance coverage from an insurance company with an impeccable claim payment record. 

• Customer service- The customer service offered by an insurance company portrays the experience you will have with your insurer. If working with a company with poor customer service, you can expect your claims to be handled similarly. Be on the lookout for other factors such as a clear policy outline and speed of assistance. 

• Get value for your money- Ontario insurance premiums are already high. Given that there are many insurance companies, compare different quotes and pick one that gives you value for your money. 

When to stop driving

Sadly, you may be forced to stop driving for safety purposes. For instance, if you have frequent close calls, get lost in unfamiliar places or have a significantly slower response to situations, you may want to consider getting someone else to drive you.