Auto Insurance Tips for Seniors

Canadian citizens are required to have car insurance if they drive. Senior citizens can typically get much lower rates than younger drivers. However, rates can still vary based on several key factors. Read on to find out how car insurance companies figure out your rates.

Rates Vary Based on Where You Live

Although it is not practical to move to a different province, it is good to know that where you live is important to the insurance companies. Which province you live in is not the only thing they look at in this category, though. They also look at the neighbourhood or area where you live. If you are in a high crime zone, then your rates will be higher. Winnipeg, MB had the highest number of car thefts per-capita in 2009 according to Statistics Canada.

The insurance company is also interested in where your car is kept when you are not driving it. Is it in a fully enclosed garage, an outside parking lot or an inside parking garage with security? All of these factors help make up your insurance rates. The safest place is typically a fully enclosed garage.

Take a Good Look at Your Car

If you have a hot sports car or luxury vehicle, then your rates will surely be higher. The same goes for a regular car that everyone wants to steal. In Canada, approximately three hundred cars are stolen every day, according to Statistics Canada. The top stolen cars are not always the most luxurious. The car stolen the most in Canada in 2009 was the Honda Accord. Although that is not a shabby car, it is certainly not a luxury vehicle.

There are many ways you can prevent your car from being stolen. These days, thieves are brave and smart. Seniors tend to be quite trusting, which is not the best idea when it comes to your car. Make sure you always lock your doors and roll up your windows. Do not leave anything valuable within eyesight. If you have a computer, GPS or any other valuable items in your car, it is best to lock them in your trunk when you exit the car. Thieves look in your windows to see what else they can get, so don’t give them the itch to get into your vehicle.

Less Claims, More Savings

So what’s the point of having car insurance if you can’t use it? Well, you can use it, but try not to use it for the minor things. Every time you call your insurance company to pay for something, your risk rating rises. This means that when it is time to renew your insurance, your rates will likely go up. If the problem is less than your deductible or not much over it, just pay for it out of pocket. Those little claims can add up to big insurance rates.

Obtaining cheap car insurance as a senior is not a hard task, but if you follow these guidelines, it will be cheaper and easier than you might expect.