The auto insurance industry realizes that the senior population has a lot of driving experience under its belt. That does go a long way as far as safety is concerned, and, seniors are rewarded in good measure with low premiums on their policies. But, by the same token, no one can deny the fact that as the years go by, eyesight becomes weaker and people are not as quick to react as before. In addition, compromised health situations tend to develop, necessitating medication.
Studies indicate that all this can translate into car accidents – a significantly large amount of these involve tragic fatalities. The insurance companies know about the resulting damages, injuries and death because of related claims that are submitted by policyholders. And claims are an expensive drawback that triggers rates to go up.
Before you begin to panic, allow us to reassure you that the premium hike for seniors at a certain stage is rather slight and it can be countered by savings rewa