Yes, senior drivers in Illinois can save on auto insurance by taking advantage of discounts, adjusting coverage, and maintaining safe driving habits. Illinois law even mandates a rate reduction for drivers aged 55 and older who complete an approved defensive driving course. Other strategies include driving fewer miles, raising your deductible, and bundling auto and home insurance policies. These actions can save hundreds of dollars annually.
If you’re a senior in Illinois looking for affordable coverage, call Insure on the Spot at 773-202-5060 for a personalized, low-cost auto insurance quote.
Why Does Car Insurance Change as You Get Older?
Car insurance rates are based on risk, and age plays a significant role in determining premiums. While young drivers face high premiums due to higher accident risks, rates generally decrease as drivers gain experience in their 30s, 40s, and 50s. For seniors, however, premiums can rise after the age of 70 due to factors like slower reflexes and changes in vision.
- Best rates: Drivers in their 50s and early 60s typically enjoy the lowest premiums due to their experience and safer driving habits.
- Increased rates: After age 70, insurers may increase premiums due to the higher likelihood of accidents among older drivers, though some seniors with a clean driving record can continue to benefit from competitive rates.
It’s important for seniors to explore discounts and adjust coverage as they age, which can help mitigate premium increases.
What Discounts Can Senior Drivers Get on Car Insurance?
Seniors in Illinois can qualify for several discounts that can significantly reduce their car insurance premiums:
Complete a Defensive Driving Course for a Discount
Drivers aged 55 and older can earn a discount by completing an approved defensive driving or “mature driver” course. In Illinois, insurers must offer a discount to seniors who successfully complete an 8-hour course. These courses are typically available online through organizations like AARP and AAA and can lead to savings of 5–15% on your premium.
Maintain a Clean Driving Record (Safe Driver Discount)
A clean driving record is one of the best ways to reduce premiums at any age. Many insurers offer safe driver discounts to seniors who have been accident-free and ticket-free for the last 3–5 years. Some insurers provide discounts of up to 10% for safe driving.
Drive Fewer Miles (Low-Mileage Discounts)
Retired seniors often drive fewer miles, and many insurers offer low-mileage discounts for those who drive less than 7,500–10,000 miles annually. Seniors who drive mainly for errands or local trips can save by informing their insurer of their reduced mileage.
Bundle Policies for Multi-Policy Discounts
If you have homeowners or renters insurance, consider bundling it with your auto policy. Most insurers offer multi-policy discounts, which can save you 5–15% on both your home and auto insurance. Combining policies is an easy way to save and simplify your billing.
Ask About Other Discounts (Membership, Safety Features, etc.)
In addition to the discounts mentioned above, seniors can ask their insurer about additional savings, such as:
- Membership Discounts: Some insurers offer discounts for members of organizations like AARP, alumni associations, or military groups.
- Safety Features Discounts: If your car is equipped with modern safety features (like anti-lock brakes, airbags, or collision warning systems), you might be eligible for a discount.
- Payment Discounts: Insurers often provide discounts for setting up automatic payments, going paperless, or paying your premium in full.
By asking your insurer about all available discounts, you can ensure you’re getting the best possible rate.
How Can Seniors Adjust Their Insurance Coverage to Save Money?
Beyond discounts, seniors can reduce their premiums by adjusting their coverage to fit their current needs. Here are some ways to save:
Increase Your Deductibles
Raising your collision or comprehensive coverage deductible is one of the easiest ways to lower your premium. For instance, increasing your deductible from $500 to $1,000 can reduce your annual premium by 15–20%. Just ensure you have enough savings to cover the higher deductible in case of a claim.
Drop Unnecessary Coverage on Older Cars
If your vehicle is older and not worth much, you might consider dropping collision and comprehensive coverage. If the cost of these coverages exceeds about 10% of the car’s value, it might be better to switch to liability-only insurance. For example, if your 15-year-old car is worth $3,000 and you’re paying $400+ annually for collision/comprehensive, it may be time to consider dropping it.
If you have a rarely used second car, you might also explore suspending certain coverage on it when it’s not in use.
What Other Ways Can Seniors Lower Their Premiums?
There are additional strategies that seniors can use to keep their car insurance affordable:
Enroll in a Usage-Based Insurance Program (Telematics)
Many insurers offer telematics programs that track your driving habits (like speed, braking, and night driving). Safe drivers can receive significant discounts through programs like Progressive’s Snapshot or Allstate’s Drivewise. Seniors who are cautious and avoid late-night driving may benefit from these programs.
Review Your Policy and Compare Quotes Regularly
It’s important for seniors to review their auto insurance policy each year to ensure they have the right coverage at the best price. Also, compare quotes from multiple insurers to see if you can get a better deal. Rates can vary widely between companies, and comparing quotes can help you find the most affordable option.
Maintain Good Credit
In Illinois, insurers can use your credit score to help determine your premiums. Keeping a good credit score can help lower your insurance rates, so it’s worth managing your credit to save money.
FAQs: How Seniors Can Save on Auto Insurance
Q: Who has the cheapest car insurance for senior drivers?
A: The cheapest insurance for seniors depends on factors like location, driving history, and vehicle type. However, companies like GEICO, State Farm, and The Hartford (AARP program) are known for offering competitive rates and senior discounts. Be sure to get multiple quotes to find the best deal for your situation.
Q: At what age does car insurance go up for seniors?
A: Car insurance premiums generally begin to rise around age 70, though this can vary by insurer. Premiums increase due to factors like slower reaction times and higher accident rates in older drivers. Seniors who maintain a clean driving record can still benefit from relatively low rates.
Q: What discounts can seniors get on car insurance?
A: Seniors in Illinois can access discounts like defensive driving course discounts, safe driver discounts, low-mileage discounts, multi-policy discounts, and discounts for having safety features in their cars. Always ask your insurer about any available discounts you qualify for.
Q: How can I adjust my coverage to save money as a senior?
A: You can lower your premiums by increasing your deductibles, dropping unnecessary coverage on older cars, or reducing coverage on vehicles that are rarely driven. Make sure your policy accurately reflects your current driving habits and vehicle value.
Q: How can I compare car insurance quotes for the best deal?
A: To find the best deal, compare quotes from at least three different insurers. Make sure to compare similar coverage levels and ask each insurer about discounts for seniors. You can use online comparison tools or work with an independent agent to get multiple quotes.
Get a Quote Today!
For affordable auto insurance tailored to senior drivers in Illinois, contact Insure on the Spot at 773-202-5060. Our team will help you find the best coverage at the most competitive price. Stay safe and save on your auto insurance!