Senior Drivers: Save Hundreds on Car Insurance with These Strategies
Senior drivers are advised to review their car insurance policies to avoid unnecessary costs. With careful consideration and the right strategies, they can save hundreds of euros annually.
Insurers categorise drivers aged 70 and above as higher risk due to increased accident likelihood. However, seniors can mitigate this by realistically estimating their annual mileage and considering key insurance policies like health insurance and life settlements.
To reduce premiums, they can also explore options such as having a garage parking space, restricted driver circles, or agreeing to a higher self-insurance. Moreover, the 'family trick' of registering the vehicle in a child's name can help, but it's a final transfer and should be carefully weighed.
Transparency is vital. False statements about one's driving profile can cause issues during claims. Switching providers can lead to substantial savings, and many insurers adjust their rates on October 1st, allowing policyholders to cancel and switch within a month.
Senior drivers should regularly review and compare their carmax insurance policies to ensure they're getting the best deal. By considering their mileage, exploring different insurance policies, and being transparent about their driving profile, they can save money and secure more favorable premiums.
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