Auto insurance for seniors in Virginia is surprisingly inexpensive. Typically, older drivers tend to drive less, and therefore are a lower risk for most car insurance companies. Discounts for drivers 65 and older can range from 5% to 20%, depending on the company. And of course, this can result in hundreds of dollars of savings per year as long as you own your automobiles. Recognizing warning signs may not only save you premium dollars. It may save your life. Any major changes in health should be reported to your carrier. Loss of license for medical reasons would require removal from the policy.
We understand that shopping for affordable senior coverage can be difficult so we have made it easy to quickly compare rates from the best insurers. You can easily view your options, and if necessary, apply for coverage on our website. Larger companies tend to offer the best prices, so we focus on the bigger companies that have been in business for quite a while. And these carriers have been very understanding to older drivers that have at-fault accidents. However, if you have three at-fault accidents within a three year-period, high-risk rates will probably be the result.
55 Alive Discount
A common discount used by seniors is completing the “55 Alive” driving course that is available through many AARP local offices. The course concentrates on safety considerations and the importance of understanding physical features about the vehicle they are driving. Naturally, you would have to check for dates, details and availability, but often the discount is as much as 10%. So it is clearly worth the time and effort to take the course. Not all companies, however, include the discount in their prices, although other similar reductions may be available. Upon request, we can provide a full list for you.
Perhaps the biggest issue facing older drivers is the risk of cancellation following an at-fault accident or a conviction for a moving violation. While underwriting guidelines are flexible, it’s safe to assume that senior receive more attention than policyholders in their 30s or 40s. If multiple at-fault accidents occur to the same senior driver (within three years), their Virginia car insurance rates will likely increase substantially. This will occur through a combination of surcharges and lost discounts. A termination of the policy is also possible, which will probably require high-risk coverage for several years.
Since finding a new company may be more difficult, we don't recommend making a change if you over age 75. And considering that the risk of an incident starts dramatically rising at age 70, even ages 70-75 are questionable for making changes. Fatalities sharply go up around this age as vision, hearing and other senses start to lose their sharpness. And the risk of sudden heart attack is a factor that can not be overlooked. Slower reflexes and medication issues can also present a safety problem. Erosion of vision is also a factor.
Maintaining good health is another factor that could impact both the car insurance rate and whether an insurer will allow a senior to drive. It is possible that a driver that reaches the age of 70 (or above) will be asked to provide a doctor’s statement indicating they are fit to drive. If this cannot be provided, it is possible the insurance company will exclude driving privileges. And if that occurs, it will be quite a challenge to secure alternative coverage.
There are some strategies and methods to partially insulate the risk of cancellation. Of course, avoiding at-fault accidents and moving violations will completely eliminate the risk of cancellation due to driving record. Driving slower and more cautiously will reduce the risk. Also avoiding driving in areas that are not familiar will also help. Night-driving, regardless of your age can be difficult. So eliminating using your vehicle past 8 pm should be considered.
Additional Senior premium-reduction programs are listed below:
Hartford AARP - After the policy has been approved, Hartford will not cancel the policy, unless premiums have not been made. Customers must also continue to own a vehicle and maintain their driver's license. Completion of a defensive driving course will also provide a small discount. Additional AARP discounts may be provided, along with other ancillary coverage.
Geico Prime Time - Policyholders can get guaranteed renewal for their policy if they are 50-years-old, have no moving violations or at-fault accidents within the last three years, and do not use their vehicle fcommercialy or for a business. Retired government employees can earn an additional discount.
Metromile - Policy prices ae very low for customers that drive less than 10,000 miles per year. After the low fixed fee is paid each month, additional charges are based on the number of driven miles.
Edward Harris is the owner and founder of this website. Since 1980, he has been helping individuals and families with their car insurance needs. During that time, he has handled more than 10,000 applications and continues to provide service for thousands of clients.
Ed is married with two children and enjoys tennis, golf, and international politics. Reluctantly, he bowls once every 10 years.