Car Insurance Advice for Senior Citizens
Senior citizen is a term that means different things to different people. But however you define it, you still need to maintain proper insurance coverage. This is especially true if you drive. While insurance coverage can be expensive for many senior citizens to manage, there are ways in which you can lower your costs while maintaining the proper amount of coverage needed for your situation. Car insurance is required in order to legally drive, regardless of your age.
Sit down with an insurance agent, in person, and get a thorough review of your policy. Make very sure that your coverage still fits your needs. If you drive more, as in taking a long vacation to take advantage of falling gas prices, you might need more coverage. If you are driving less, it might be possible to get the coverage you need for a lower premium and save money while staying properly protected.
If you also maintain home and life insurance, consider getting all your policies from the same company. This practice is called bundling, and it is a good way to lower your premiums on all your policies. Bundling also makes paying easier, since you only have to keep track of bills from a single insurance provider. If you bundle all your policies, it is also possible to arrange a single due date, or staggered due dates, making it easier to pay premiums on a fixed income.
Don’t forget to ask your agent if your company offers senior citizen discounts. Many insurance companies offer to members of groups like AARP, as well as other organizations and clubs. If you have more than one driver in your household, or if you operate more than one vehicle, ask about discounts for multiple drivers and/or multiple vehicles.
Never buy coverage you don’t want, don’t understand, or don?t’ need. Many agents will try to sell you riders, that is, coverage for additional events that are often not necessary and always cost you more money. Never feel pressured into buying something you don’t need. If you inform your agent that you are not interested in the rider and they insist you take it anyway, then it’s time to find a new company.
Never purchase coverage you don’t understand. Insurance is a complicated business. There is no reason to be embarrassed if you don’t understand something the first time you hear about it. If it takes several explanations for you to feel comfortable with the facts, that’s just the agent’s job. Make sure you get all promises in writing. Review every policy thoroughly and never put your signature on a document you haven’t read, don’t understand, or just don’t like.
If you are not happy with your coverage, shop around. Get quotes on a new policy. Make sure all your coverage needs are met, and that you have the coverage you need without breaking your budget. Even if you are entirely happy with your policy, there’s always another company that would like your business. Look before you leap, but be open to saving costs.
No matter what your insurance requirements, be sure you always deal with a licensed insurance agent. He or she can examine your situation and offer you coverage that meets your individual insurance needs, as well as answer any questions.
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica?s leading car insurance portal.
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