Senior citizen is a term that means different things to different people. But however you define it, you still need to maintain proper insurance coverage. This is especially true if you drive. While insurance coverage can be expensive for many senior citizens to manage, there are ways in which you can lower your costs while maintaining the proper amount of coverage needed for your situation. Car insurance is required in order to legally drive, regardless of your age.
Its a good idea to sit down with a qualified insurance agent to take a careful review of your coverage. If you are driving more, you may need more coverage. But if you are driving less, then it might be possible to save money on your premiums by getting the right auto insurance coverage.
If you also maintain home and life insurance, consider getting all your insurance policies from the same company. This practice is called bundling, and it is a good way to lower your premiums on all your policies. Bundling also makes paying easier, since you only have to keep track of bills from a single insurance provider. If you bundle all your policies, it is also possible to arrange a single due date, or staggered due dates, making it easier to pay premiums on a fixed income.
Dont forget to ask your agent if your company offers senior citizen discounts. Many insurance companies offer to members of groups like AARP, as well as other organizations and clubs. If you have more than one driver in your household, or if you operate more than one vehicle, ask about discounts for multiple drivers and/or multiple vehicles.
Don’t buy insurance coverage if you don’t want or need it. Many insurance providers will try to sell you riders on your policy that often are not necessary and cost a lot of money. Don’t feel pressured into buying something you don’t want or need. If you tell your insurance provider you are not interested in the product and they insist you purchase it anyway, then it’s time to find a new insurance provider.
Never purchase coverage you dont understand. Insurance is a complicated business. There is no reason to be embarrassed if you dont understand something the first time you hear about it. If it takes several explanations for you to feel comfortable with the facts, thats just the agents job. Make sure you get all promises in writing. Review every policy thoroughly and never put your signature on a document you havent read, dont understand, or just dont like.
Finally, if you insurance company is not providing the coverage you want and need, its time to shop around. Get quotes on a new policy. Make sure your coverage meets your needs and that you have bought the best policy on the market. In fact, even if you are totally happy with your coverage, there is likely to be another company eager to offer you a better deal. Just look before you leap.
No matter what your insurance requirements, be sure you always deal with a licensed insurance agent. He or she can examine your situation and offer you coverage that meets your individual insurance needs, as well as answer any questions.