Senior drivers with an amazing driving record and who actually follow a number of safety rules would be worried why they have been provided with high insurance rates. This can be due to several reasons. The best thing to know about it is that all these can be minimized and can be converted to be in your favor. The following are the various factors which can affect your car insurance rate and which can be under the control of the driver:
- The Car which you drive: usually the old drivers use the cars which don’t have the latest safety equipment or might even buy the car which would cost more to insure. The cost of the insurance might vary depending on the features of your car. The car which has a large engine might cost you more for insurance when compared to the one which has a lower engine. If you own a sports car which is quite expensive then you will be asked to pay high-interest rate on your insurance while if it’s a small car and not too expensive then it would be low-interest rates.
- Share your lifestyle changes: if you aren’t working anymore and are retired then make sure to inform the same to the insurance agent as it might help you to reduce the car insurance rate.
- Letting your friends or relatives drive your car: when you let either your friends or relatives to drive your car and if they met with an accident, the car insurance rates might change drastically. So, it would always be better to add those regular people who would drive your car to the insurance policy. It’s the best way with which you can save your money in the long run.
- Maintaining credit score well: most of the insurance providers check the credit score before they fix your insurance rates. So, make sure to have a good credit score by repaying all your debts on time.
- Do not let your friends or relatives use your address to get lower rates: it would always be better if you don’t let your relatives or youngsters in your family not to use your address especially while taking the insurance policy in order to get lower rates of insurance. It is always advisable to give a different address. This is because, in case of an accident made by your relatives, the claim might be denied and sometimes you might even get a penalty which might even include loss of your policy too.