If you own and drive a car, owning car insurance is a must. It’s not a question but a necessity for your safety and securing any damage in case of a bad accident. As a senior (someone 65+ years), getting car insurance can be a pain.
You might be stuck deciding between AAA vs. AARP car insurance, the premium amounts, etc. Things aren’t as simple as they look. And the biggest issue stands out with the high amount seniors have to pay.
Ever wondered why? This article will explore those reasons in detail and what you can do to secure the biggest car insurance for your vehicle as a senior.
Reasons why Car Insurance for Seniors is Expensive
Senior citizens enjoy several discounts as they age, but not surprisingly, car insurance isn’t one of them. Now, you must think, “But why is that?”
Technically, there are multiple reasons. Let us walk you through them.
1. Higher Medical Care Costs
Our bodies change drastically as we age. This means that a person’s chances of surviving or sustaining fewer injuries are comparable to a senior person’s. There are increased risks of either being severely injured or even killed in a car accident for a senior. If there are injuries, the impacts and post-traumatic recovery will cost a hefty amount. This falls on the insurance companies, charging a higher premium upwards to secure those costs.
2. Cognitive Disparities
As you age, hearing, sight, and cognition efficiency are severely affected and/or impaired. These direct consequences of aging can reflect on a person’s driving capacity. So, it isn’t surprising that car insurance companies charge a higher premium to cover those costs if a mishap happens.
3. Side-effects of Medication
Besides aging complications, seniors also take prescription medications, which can alter their driving ability. Some medications or clinical conditions on record can also shoot up car insurance premiums. As unwarranted as they sound, these higher payments are kept in place to secure you in the future if something were to happen.
Should You Get a Car Insurance as a Senior?
Car insurance is indispensable if you don’t want to shell out hundreds and thousands of dollars out of pocket in the future. Our lives are extremely unpredictable. So, we don’t know what happens at the very next minute. Even if you are a skilled driver with an amazing driving track record, having car insurance is like a safety blanket.
Since you are most likely retired as a senior, having that safety blanket for future costs is crucial. And car insurance isn’t just to cover your medical bill in case of an accident. These also pay for severe car damages if something happens out of the blue.
When choosing car insurance, compare the prices. There are multiple insurance companies, so you have varying options. Take your time, assess your options, and cross-check the benefits before finalizing one.
In short, car insurance is necessary if you own a car, irrespective of how old you are.