Every driver is required by law to be insured. Insurance rates play a large part in determining how much coverage a driver obtains. Insurance agencies consider a lot of different factors when insuring drivers. Information provided by the driver to the insurance agent, along with requirements of the motorist, modifies premiums a driver will ultimately pay. This article will attempt to touch on a specific area that is not so familiar, which is over 50 car insurance.
Most people are aware of senior citizen disounts at restaraunts and shopping stores. Not as well known or discussed are insurance companies that offer discounts to drivers who are 50 and older. Most people know not all that long ago the age an individual is considered to be a senior citizen was raised to 60 and even 65 years in some cases. What does this mean for drivers who are age 50 but under what is considered a senior citizen? Are senior discounts extended to drivers that have not reached age 60 or 65 but are over 50? Are there any sort of restrictions placed on insurance policies for older drivers? Are handicapped drivers faced with additional fees and coverage limitations simply because they are handicapped? Most people will agree that the answers to these questions are not common knowledge, and not addressed in most advertisements.
There are a multitude of insurance companies listed in every single phone book in every city. Likewise, there are countless internet websites eager to provide free quotes to perspective clients only after the perspective enrollee provides their name, address, and phone number. As most of us know, television and radio are not immune from advertising car insurance as every driver needs it. Insurance ads on the radio need to appeal to the listener by offering relevant, straight-forward information. Television ads have a little more wiggle room. If the factual information does not reel in a new client, the visual stimulus may; Geico is a good example. Now let’s zero in on the questions posed in the prior paragraph.
Are senior discounts extended to drivers that have not reached age 60 or 65 but are over 50? The answer to this question is yes. As soon as a driver reaches age 50 he or she can visit with his or her insurance agent to negotiate a new rate. Having said this, there is not one single price or rate reduction that holds true for all insurance companies in all states. It is possible to receive a discount of up to 5% depending on who the carrier is and what the individuals circumstances are. This is part of the reason why insurance companies are competing for business. Within any given state, let’s take California for example, there are many insurance companies all claiming to offer the best rates all the while treating their customers with the highest standard of care. Keep in mind every single insurance company is a business and is looking to make a profit. Most insurance companies are comparable in what they offer. It is up to the driver to decide if he or she prefers to sign with a younger company or go with a name that has been around for many years.
Are there restrictions placed on insurance policies for older drivers? This question can infer elder discrimination. This is an issue states have discussed in the past. Sixteen year olds can have plenty of restrictions on their insurance; it is not so easy to legally place similar restrictions on senior and elderly drivers insurance policies. Most restrictions on over 50 car insurance is limited to vision tests and renewing the drivers license itself yearly or every two years, dependent on the state and age of the driver.
Are handicapped drivers over 50 presented with vehicle insurance restrictions? Many factors are considered when insuring handicapped drivers, regardless of the drivers age. For starters, the Disability Discrimination Act of 1995 (as ammended in 2005) states that insurers are not allowed to deny coverage to drivers simply because they are handicapped. Additionally, insurers are not allowed to charge disabled drivers more simply because they are handicapepd. Premiums are based on fair risk assessments on a case by case basis.