Car insurance for senior citizens: what you need to know
Even as they age, many senior citizens continue driving and with a rapidly growing senior population in Canada, more older drivers can be expected on the road in the coming years.
Having years of driving experience reduces premiums. While senior discounts are frequently offered by insurers, premiums can vary widely between companies due to a number of factors. That’s why shopping around for senior car insurance is essential.
Find the lowest auto insurance rates for seniors today by comparing them using LowestRates.ca. By using our free online tool, you can compare rates from more than 50 auto insurance companies almost instantly.
If you’re in the market to find the best car insurance rates for seniors, read on to learn more about getting Canadian car insurance that fits your needs. and about how to reduce your insurance premiums. You can also start shopping around now by using our comparison tool.
Follow these safety tips to keep your car insurance rates low as a senior
Monitor your health
To help you drive safely, make sure to get regular checkups on your hearing, vision and overall health. If you have glasses and/or hearing aids, always wear them when you drive. If you take medication, check with your doctor or pharmacist to make sure it is safe to use while driving.
Keep your distance
Allow for extra distance between your vehicle and the one in front of you to help prevent accidents.
Reduce nighttime driving
If you have reduced vision or don’t feel comfortable driving at night, stick to daytime driving only. Consider taking a taxi or catching a ride with a loved one if you need to travel after dark.
Drive in ideal conditions
Driving in heavier traffic, especially on highways, can be more challenging as you age. Avoid rush hour and poor weather conditions when you can. Drive only when you are well-rested and prepared. Avoid distractions, like eating or using your cellphone while driving.
Break up your trips
Try and avoid long hours of continuous driving whenever possible by breaking up longer trips or sharing driving responsibilities with someone you trust.
Refresh your skills
Consider taking a refresher driving course designed for older drivers. Depending on your insurer, updating your driving skills might get you a discount on your insurance premium.
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Frequently asked questions about car insurance for seniors, answered.
What is the best type of car insurance for seniors?
There are no specific senior car insurance plans. Instead, senior drivers must purchase the same set of basic requirements as those for drivers of all ages according to provincial regulations. This is true whether trying to find car insurance for seniors over 65 or auto insurance for seniors over 80. The main differences come from optional policy add-ons, and the need for these varies person-to-person.
Drivers who select coverage beyond minimum requirements will pay more for auto insurance. This includes collision coverage which takes care of repair or replacement costs due to collision with an object, property or another vehicle. It can also mean being covered for perils like natural disasters or theft. The decision whether to purchase these depends on a driver’s risk tolerance, budget as well as their vehicle. For instance, drivers with older model vehicles may not find collision coverage necessary.
Getting the best car insurance for elderly drivers means comparing different options and finding one that meets your needs and budget. Using an online rate comparison tool like LowestRates.ca’s lets you do so in minutes.
Do seniors pay more for car insurance?
Generally, seniors pay lower than average car insurance rates. However, as people reach their mid-70s and beyond, they could see their premiums increase. That’s because as drivers age, their risk of getting into an automobile accident increases.
To find the cheapest auto insurance for senior citizens, shopping around helps. LowestRates.ca can help you find the best car insurance for seniors in Canada in just a few minutes. By entering your postal code and clicking “Get Started,” you can compare insurance quotes from 50+ Canadian providers.
What is the best car insurance company for seniors?
No company offering auto insurance for seniors has a single policy that is best for everyone, including for senior drivers. This is because a variety of factors impact auto insurance quotes and because drivers have different needs. Rates will go up or down depending on a policyholder’s automobile, individual needs, personal driving history and postal code, among other factors.
The easiest way to ensure you get the best policy that suits your needs is by shopping around and comparing quotes from multiple car insurance companies.
LowestRates.ca can help you compare car insurance for seniors within minutes, helping you find a premium that meets your needs and budget. The best auto insurance for retirees is only a few clicks away.
Are there special rates or discounts for seniors?
By age 55, most drivers will see the cost of their car insurance reduced. But to lower costs even further, there are other discounts senior drivers can take advantage of, some of which can be bundled together for extra savings.
One option to get discount car insurance for seniors is being a member of an affiliate or alumni group. For example, members of the Canadian Association for Retired Persons (CARP) can purchase discounted car insurance through a group policy exclusive to association members.
Getting senior citizen auto insurance discounts can include combining discounts available to all drivers, like bundling home and auto insurance with the same company, installing winter tires or reducing annual mileage. Installing approved anti-theft devices or other safety features on an automobile can help trim back premiums as well. (Always verify a device’s eligibility before purchasing and installing it.) There may also be opportunities to reduce senior car insurance costs by upgrading driving skills at an accredited driving school.
By combining these discounts, it’s possible for you to pay below average rates for senior car insurance. When shopping around for different policy options using the LowestRates.ca, all drivers regardless of age, can find premiums that best fit their needs and budget.
How can seniors get a cheaper car insurance rate?
Getting a cheaper car insurance rate starts by understanding how they are calculated. While some factors in getting a cheaper car insurance rate are out of a senior driver’s hands, many aren’t. Here are some ways to save.
Looking to purchase a car? Choose a simple model without complicated options, or a pre-owned vehicle. These sorts of cars tend to cost less to fix in case of collision and aren’t as attractive to thieves. This means they typically cost less to insure compared to new high-performance or luxury models.
By making a lump sum annual payment or installing winter tires, seniors will receive discounts at many insurance companies. By taking advantage of some of the many discounts offered, it’s possible to lower senior car insurance prices. In addition, reviewing coverage annually and cancelling optional insurance that is no longer needed can also help keep premiums down. For instance, it may not make economic sense for drivers with older cars to pay for collision coverage.
To get affordable car insurance for senior citizens, your best course of action is to shop around. Not every company will offer you the same discount options or similar premiums. By using a comparison tool like LowestRates.ca, only a few minutes separate you from finding cheap car insurance that fits your needs.