Drivers between the ages of 50 and 70 often receive preferred automotive insurance rates because they are viewed as safer behind the wheel than teenage drivers and people in their 20s. Seniors, however, are viewed as more of a risk, and insurance rates tend to rise starting at age 70.
Eventually, older drivers are required to renew their license more frequently – usually every five years – and retake a driver’s test to renew. The age when this becomes a requirement varies from state to state. Californians, for example, must begin retaking a driver’s test at age 70. In Illinois, the age is 75.
While licensing and insurance become more cumbersome for people as they grow older, the important thing is that drivers continue to have adequate insurance and get favorable rates. The federal Department of Motor Vehicles (DMV) offers helpful tips and advice on how seniors can get good automotive insurance rates. Here is a list of five of the best insurance providers for retirees and senior citizens in the U.S.
Formerly know as the American Association of Retired Persons, AARP actually runs its own automotive insurance program to help retirees and seniors who are living on a fixed income. AARP has teamed up with the Hartford Insurance Company to provide discounted auto insurance to its members. Discounts available through AARP’s automotive insurance program take into consideration whether you are married, live in a low crime area and have a good driving record. Savings come in the form of low premiums, a disappearing deductible and accident forgiveness.
AARP’s automotive insurance program provides you with the ability to renew throughout your lifetime as long as you retain a valid driver’s license, and rates are locked in for 12-month periods. To qualify, you must be over age 50. In addition, AARP runs a driver safety program in 35 states; in many of them it can be completed online. Completion of the course earns you further discounts on your auto insurance.