The Insurance Institute for Highway Safety (IIHS) found that elderly drivers have accidents more frequently. When drivers turn 70 years old, insurance companies start considering drivers high-risk.
To save money on car insurance costs, elderly drivers can:
Take safe driving courses
Safe driving courses can help drivers refresh on safe driving practices. Drivers can also save money on their car insurance when they graduate from safe driving courses.
Drive a cheaper car
Elderly drivers can also drive cheaper cars with low value that are less expensive to insure.
Pay their insurance in full
Paying an account in full can save up to ten percent on car insurance premiums. Policyholders are also able to avoid finance charges.
Install anti-theft devices to qualify for additional discounts
Installing anti-theft devices makes a car less of a liability for an insurance company. Less liability also means cheaper car insurance.
Compare car insurance quotes online
The key to saving money on car insurance is to compare car insurance quotes online. Policyholders are able to compare rates and decide whether they should keep the same provider or switch to a company with better rates.