3 Reasons Senior Citizens May Pay Higher Car Insurance Premiums

senior citizen driving car with two shaggy dogs as passengers

When you turn 65 you can get a senior discount on so many things. Car insurance isn’t necessarily one of them.

Why do car insurance companies consider senior citizens “high risk”?

There are three arguments insurers generally use to justify the higher premiums. They are:

  1. Statistically speaking, people 65 and older stand a greater risk of being severely injured or killed during a crash. The science behind this increased risk boils down to an aging person’s body become more fragile with age. Injuries are more likely. In turn, insurance companies will charge seniors more to cover the high cost of medical care or a funeral.
  2. When you get older your hearing, sight, and cognition are affected. These age-related problems can impair an individual’s driving ability. Insurance companies know this and they often use it to ask for more expensive premiums from people 65+.
  3. The prescription medication senior citizens take to manage their health issues may alter a driver’s perception. This may limit a driver’s capabilities, resulting in potentially higher premiums.

Contact us to see how we may be able to help lower your premiums.

One Response

  • I can’t help but agree that older people are more prone to risks of getting injured during a car crash. This is also the same reason why I want my dad to be protected with auto insurance since he insists that he wants to drive by himself whenever he’s doing errands. Maybe I should help him shop around providers to see what kind of coverage will suit him best.

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