It is no surprise to experienced drivers that the cost of car insurance has sky-rocketed over the years. A common question asked throughout the mature driving community is, how can I purchase over 50 car insurance for under a fortune? With the dwindling economy, there are many car insurance carriers marketing low-cost car insurance with increased discounts to the mature driving niche.
First, and most importantly when purchasing insurance, is to know exactly what you are purchasing. Many people go to an insurance agent or broker expecting a great deal with maximized discounts, only to find increased rates with decreased coverage. The whole purpose to purchasing insurance in the first place, aside from it being the law, is to adequately protect you and your family. Cutting corners with coverage to save money is not a wise choice. Always make sure to choose a reputable carrier who will not downgrade your coverage in order to get your business. When receiving insurance quotes, it is always recommended to review your coverage thoroughly with your current company and receive an apples to apples quote with the prospective company. This way you can see an exact comparison of prices, modifying coverage afterward if necessary.
Now that you know what to watch out for when purchasing auto insurance for over 50 year olds, where do you start looking? There are many top-rated insurance carriers marketing over 50 auto insurance due to the fact that the baby boomers are in full force. With this, mature drivers make up over 50% of policyholders, and are a significant source of the company’s revenue. Aside from this, mature drivers, as a whole, prove to be less of a risk for claim payouts. Lesser risk, means lesser premium.
A popular provider for over 50 auto insurance is The Hartford. The Hartford the one and only insurance provider affiliated with AARP, and offers insurance only to AARP members. AARP members are required to be 50 years old or older, making this the only mature driver insurance company around. The Hartford offers competitive auto insurance rates for policyholders and a No-Drop Promise, ensuring their policyholders that as long as they are legally driving; they will not drop them for any reason. Some other features offered by The Hartford policies are: Mature Driving Course Discount, Disappearing Deductible, First Accident Forgiveness, and Waiver of Deductible for Non-Fault Collision. These features are some of the many reasons policyholders choose the Hartford.
There are other insurance carriers that are not designed strictly as insurance for over 50, that offer great discounts to more experienced drivers. Geico Auto Insurance offers competitive rates at any age with the No Claims Discount. For drivers between 50 and 70, you will find your rates low as long as you have a clean driving record. Geico also offers Mature Driving Course credits that last 3 years on your policy, along with affiliation discounts, based on your career. Another popular insurance carrier, insuring more Americans then any company combined is State Farm Insurance. State Farm is a trusted insurance carrier, and insures drivers of all ranges. While State Farm has a stricter driving record requirement, their strict guidelines provide low-cost insurance for good drivers. They offer discounted insurance over 50 with mature driving discounts, good driver discounts, multi-car discounts and more. The most competitive option with State Farm is combining other lines of insurance such as Homeowners, Renters, or Life Insurance, for multi-policy discounts up to 30% off.
Even though it seems like everything from gas to groceries are increasing in price, your auto insurance does not have to be one of them. As long as you use the resources available to you and you stay educated, finding over 50 car insurance under a fortune is possible.
