How to find a good deal for over 50s car insurance
With the severe recession we are experiencing, for many people the obligation to buy auto insurance can be painful for the family budget. Fortunately, for over 50s car insurance can be more affordable than for many others, and in general auto insurance costs vary so much that if you do some research you can save a lot.
Auto insurance costs have a very wide range because the risk of having an accident and the resulting repair costs depends on a multitude of factors. These factors include age of the driver, the driver’s prior record, the model of car, and where you drive, among others. Each insurance company has their own way of calculating these risks, so if you shop around extensively rather than just checking two or three companies you’re likely to come across a surprisingly low rate for your situation.
The best way to shop around is to use the Internet. Using a search service such as Bing or Google, type in a search phrase, such as “car insurance 50+”, that indicates something about the risk factors that apply for you. Always check out at least twenty or thirty websites before you decide anything, and focus on the “natural” search results rather than the sponsored ones. Try a number of different word combinations as you search.
An additional way to get a better rate is to change the factors that influence the amount of risk that applies in your particular case. For example, if you take driver education classes, many companies think that reduces the risk of an accident enough that they will give you a lower rate. Also, some car models are less expensive to repair than others. And if you are willing to have a higher deductible on your policy, meaning that you have to pay a higher amount of a repair bill before the insurance company pays the rest, that will certainly lower your rate. The tradeoff with that, of course, is that if you do have an accident you end up paying more.
Over 50s car insurance can be even more affordable if you become a member of an organization. Just as with health insurance, if you are part of a group that is spreading the risk over a big number of people, your rate can be lower than if you apply as a single person. You should join an organization anyway, because the many financial benefits you can gain from membership greatly outweigh the cost of the annual fee.
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