Finding The Best Car Insurance for Seniors in Canada

Canada has a rapidly-growing population of senior citizens. Even as they continue to age, many of them love sitting at the steering wheel. 

However, just after you cross your late sixties, high insurance premiums may start biting your wallet. Over time, it would be difficult to keep the premiums low. This explains why many senior citizens consult reputed insurance brokers to find affordable policies. 

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When you buy car insurance for seniors, you will try to be on the affordable end. Read on to learn how you can find the best policies for seniors in Canada.

Who do insurers consider seniors in Canada?

Insurers in Canada factor in drivers’ experience in their late fifties and sixties. So, even if you become a senior citizen as per the standard age parameters, your insurer would consider you an extremely safe driver. 

Although some insurance companies consider 60 to be the age when they accept their clients as senior citizens, others consider drivers above 75 to be seniors. So, you may be able to continue to drive with the standard premium rates and enjoy discounts until your seventies.

Is car insurance different for older citizens?

Insurers calculate the premiums for car insurance for seniors in Canada in the same way as they do for others. Most insurers factor in all the parameters of calculating your premium besides considering your age if you are above 75. 

Considering risk factors like poor vision or health issues, they might increase your premiums. Experts recommend driving less or taking a defensive driving course to keep the premiums low. Besides, some insurers in Canada offer discounts on premiums to senior citizens. For instance, if you maintain an accident-free record, you can qualify for these discounts.

What makes car insurance for senior citizens expensive?

While calculating insurance premiums, top companies consider your age. People in certain age groups are more susceptible to accidents. Senior citizens and teenagers need to shell out more premiums than others.

Once you cross your mid-sixties and seventies, insurers may perceive you as a high-risk driver. Since these drivers frequently file claims, they raise the premiums. 

  • Although senior drivers carry more experience, they encounter mental and age-related problems. For instance, a decline in cognitive abilities and blurred vision are common issues these drivers encounter. 
  • Sometimes, they have trouble maintaining general fitness or experience muscle disorders.
  • Older drivers also take more time to react on the road. This makes it challenging for them to mitigate accidents. 
  • In case of serious injuries, older drivers are also more prone to fatalities. As per the Insurance Institute for Highway Safety, drivers aged 85 (and over) are the most susceptible to fatal crashes. 

Factoring in these perils, insurance companies find older people to be high-risk drivers. Naturally, car insurance premiums increase once you cross your sixties or seventies.

How to reduce premiums for car insurance for seniors

We have recommended some measures to reduce the premiums for car insurance for senior citizens in Canada.

  1. Go for regular health check-ups

Insurers tend to increase premiums when they consider you to be a risky driver. However, if you undergo regular health check-ups and continue with sound physical and mental conditions, they might keep premiums low. 

Submit the reports of your vision, hearing, and overall health conditions. In case you use hearing aids or glasses, be prepared to shell out high premiums. People taking medications should consult their physicians to ensure they won’t affect their driving.

  1. Avoid driving at night

Senior Canadians with blurred vision find it challenging to drive at night. So, if this is your case, try to avoid driving at night altogether. Driving only during the daytime will reduce your chances of getting into an accident. If you need to travel after dark, use a cab or public transportation.

  1. Drive only when conditions are ideal

If traffic snarls and congestion on the roads get on your nerves, try to drive only when conditions remain ideal for you. Older people often find it challenging to navigate highways. Also, when you drive within your city, avoid driving in adverse weather conditions or rush hours. 

Sit at the steering wheel only when you are physically and mentally fit. Get adequate sleep or rest before driving. Also, don’t get distracted or use your cell phone as you drive.

  1. Increase your deductible

Reducing your deductible is one of the basic ways of reducing your premiums, regardless of the driver’s age. Once you do, your insurer would consider you to be a responsible driver since you would be paying a part of the losses before seeking their financial privileges. Raising your deductible will help you keep the insurance premiums low.

  1. Get a customized policy

Reputed insurance brokers like Surex can help you get your policy customized. With the best car insurance for seniors in Canada personalized for your needs, you won’t be paying premiums for unnecessary benefits. Besides, the professionals will help you find discounts from reputed insurers as they know the industry better than most people.

  1. Maintain a decent driving record

Drivers with clean records on the road often qualify for lower premiums. So, try to maintain a clean record as you take the road. Fewer claims on your track record would also project you to be a responsible driver. Under these conditions, you may benefit from relatively lower premiums even if you are a senior citizen.

Car insurance for seniors — Endnote

Consulting reputed insurance brokers happens to be the most effective way to reduce premiums as you age. You can acquire multiple quotes from different brokers once you furnish your details to the broker. The professionals can also guide you in choosing the right insurance policy based on your needs. 

So, rather than hunting for separate quotes from top insurers, it would be an intelligent move to get in touch with a broker. They can also recommend additional tips to reduce your premiums. Being a senior citizen in Canada, you can benefit from their valuable advice.