Car Insurance Rates

Best Car Insurance Rates for Seniors »

Purchasing insurance as a senior can be depressing – you were used to paying low rates for years, and suddenly there's an increase. However, there are still many things you can do to lower your car insurance rates.

Best Car Insurance Rates for Students »

Unfortunately, being a young driver often means paying the highest car insurance rates. However, there are discounts that young people can take advantage of such as those for good students.

Best Car Insurance Rates

Best Car Insurance Rates for Seniors

Many people are aware of the most common factors that go into calculating car insurance rates. Therefore, it will come as no surprise that age is one such factor. Not only do young drivers pay more for car insurance, but sometimes, older drivers do as well. While there are senior citizen discounts and discounts for people who are retired, a senior will likely still pay more than someone in their 30s. It works out this way because research and statistics show that younger and older drivers are more likely to get into an accident and file an insurance claim. In addition, a senior is more likely to need extensive medical care if they are involved in an accident when compared with younger drivers. While this might sound like bad news, there are some things you can do to reduce the cost of your car insurance rates:

Multi-car or multi-policy discounts – You can not only save money, but time when you switch to a multi-car or policy plan. These discounts apply when you have more than one car on a policy, or more than one type of policy with the same company (homeowner's, renter's, life, or medical). These plans save you money, but they also allow you to have one bill, one phone number to call, and one set of instructions to file a claim.

Keep a safe driving history and limit claims – Driving safely is very important. Not only does it protect you and those around you, but it also reduces how much of a risk you are to insurance agencies. To help, consider taking a driver's education or defensive driving class. Some insurance companies offer discounts for these classes. Also, if you can do without submitting a particular insurance claim, you should consider doing so. Submitting frivolous or multiple claims will raise your car insurance rates.

Have a positive credit score – This one might not be easy to fix, but it certainly is doable with a little effort. People with poor credit histories are statistically more likely to be involved in an accident and file a claim. If you do not currently have a good credit score, work on paying off debts and stay on top of your bills. Eventually your score will improve and so will your car insurance rates.

You might not be able to do anything about how old you are, but there are many other things you can control when it comes to car insurance rates!