Can you really find affordable auto insurance for seniors? Is this a concept that went out with the hula hoop? The way prices are rising today, it sometimes seems like the “Golden Years” must mean the insurance companies think you’re made of gold. And though prices are going up everywhere, your income too often remains fixed.

Of course, we don’t really expect things to cost what they did in our twenties (or thirties, or forties). For senior drivers, finding affordable car insurance can sometimes be very frustrating.

It doesn’t have to be. In the early stages of those “Golden Years,” your rates might actually go down. Drivers between 55 and 65 are the safest on the road and most companies reward that, but as the years pile up, so will your insurance premiums. Drivers over 70 years old have the highest fatality rates in auto accidents of any group of drivers except teenagers. Diminished eyesight and slower reaction times lead to more accidents, and older, frailer bodies can mean more serious injuries.

And that Means Everyone Pays More

There are dozens of factors that companies use to determine how much you pay for your car insurance. At least two of them you can’t control—your age and gender. A couple more are things you could change but probably don’t want to—your marital status and where you live.

But you’re not helpless here. There are things you can—and should—control that can help you dramatically lower your premiums, giving you more affordable auto insurance rates no matter your age.

Give Your Insurance Company Less of Your Retirement Nest Egg.

• Step one is to shop around. There are so many options available to senior citizens today and the internet is the perfect place to find them—a real one-stop shopping spot. In finding the right policy at the right price, information is your most formidable weapon. When you know what you want and need, compare auto insurance rates from several companies.
• Take a refresher course in safe driving. This is one of the best things senior drivers can do to cut their rates and get more affordable auto insurance. The AARP safe driver course is called “55 Alive.” Similar classes are offered by AAA, the National Safety Council and other organizations. A majority of states now require insurance companies to give a discount—typically 10-15%--to older drivers who successfully complete such a safe driver course.
• If you’ve a senior driver, you may have retired and finally kissed the daily commute good-bye. That means you’re likely putting a lot fewer miles on your car every year. For car insurance, low mileage=lower premiums, so make sure your insurer knows that your mileage figure has changed.
• If you’re still working and have been in the same job for years, let your insurer know that. They love this sort of stability and it might get you a discount.
• If you drive an older car, that can also save you money. Older models have a lower value and cost less to repair, so the cost to insure them is also lower. However, if the car is so old that it’s missing some essential safety features, like airbags, anti-lock brakes, and automatic seat belts, then having these things installed will bring your premiums down even further, as well as making you a safer driver.
• On that older car, reduce or eliminate collision and/or comprehensive coverage. The value of the car probably doesn’t warrant paying the premiums, which can easily add up to more than the car is worth. Instead, take that money and set it aside to repair the car yourself if necessary. You may never need to use it.
• If/when you decide to trade in your old clunker for a slick new car, check rates for individual models before you buy. Very expensive cars, high-performance vehicles and cars on the “most stolen” list will cost you a lot more to insure.
• If you have more than one vehicle, insure them all with the same company. Multi-vehicle discounts can net you big savings. Also, buying your car and homeowners insurance from the same company will often get you a discount.
• Keep your financial score healthy. Insurance companies today use credit scores as a major factor is setting rates. Studies have shown that people with good credit ratings are likely to be more responsible drivers. So check your credit report and if it needs a bit of help do what you can to raise your score. Since seniors have often reduced their financial obligations, make sure the information in your credit report is up to date.
• When your policy is renewed, pay it all at once. Monthly installment plans can add hefty finance charges to your bottom line.
• Finally, and obviously, drive safely and keep your record clean. Speeding tickets, accidents, even a fender-bender can cause a dramatic rise in your insurance rates. Slow down, make sure your seat is properly adjusted and keep your windows clean to minimize any age-related vision problems. If necessary, limit your driving to daylight hours, stick to streets you are familiar with and travel at times with reduced traffic. Know your limitations and use your common sense. It’s really the best money-saving device you’ve got.

There are things you can do to lessen the bite of your premiums and get more affordable auto insurance, things that will help make these years a little more “golden.”