senior drivers with pristine drive records and batch of safe miles behind the rack may be surprised when their car insurance rates rise. But that may occur for a number of reasons. The dear news is that many of these reasons are under the driver ’ randomness control .
Review these factors that affect car insurance rates:
1. Consider what car you drive
many older drivers either keep cars that don ’ thyroxine have the most modern safety equipment or buy cars that cost more to insure. A car ’ mho features may impact the price of policy. According to an article on the consumer web site MoneyCrashers, a car with a big engine relative to the size of the soundbox, such as a sports car with a brawny V8 engine, may cost more to insure than a like character of car with a smaller locomotive .
2. Don’t keep your change of lifestyle a secret
Are you recently retired or do you work at home plate, therefore avoiding a commute ? Tell your policy agentive role. The phone number of miles you drive factors into your insurance rates .
3. Think twice before letting a friend or relative drive your car
When you pass over the keys you ’ re basically handing over your indemnity policy, excessively. That ’ second why some states mandate all licensed drivers in a family have cable car policy, according to Insure.com. If a proportional crashes your car, your rates can change dramatically. When you have a person who regularly drives your cable car, spill the beans to your insurance agent about adding them to your policy. Depending on the person ’ s drive record, it may not raise your rates. even if it does, it might save you money in the farseeing run.
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4. Keep your credit score in good health
many insurers factor in your recognition history and credit score when determining your cable car indemnity rate. So keep them hearty .
5. Don’t let relatives use your address for lower rates
Seniors who live in safer neighborhoods than their children or grandchildren will occasionally allow them to use their addresses when registering cars so that the younger drivers can get lower policy rates, according to Insure.com. While that might sound innocent, specially if the child or grandchild spends a lot of meter at the address, it ’ s better not to do this. If an accident happen, the claim could be denied and the policyholder could face other penalties including loss of the policy .
If you have any questions about your rates or coverage, be sure to reach out to your Nationwide insurance agentive role .