Is it really possible to find affordable auto insurance for seniors, or is cheap auto insurance for seniors a concept that went out with the Hula Hoop and car phone?

Finding cheap car insurance for seniors can prove difficult. In fact, it sometimes seems like the “Golden Years” must mean insurance companies think you’re made of gold. But no matter how high the cost of living rises, your income remains glued to the proverbial floor. So what's a senior supposed to do to save on car insurance?

Fortunately for you, cheap car insurance for seniors is not an impossible dream. In fact, it's quite the contrary--seniors can find affordable car insurance, and it's incredibly simple (as you'll see in just a moment).

In the early stages of those “silver years,” insurance rates for seniors may actually get cheaper. Drivers between 55 and 65 are the safest on the road and most companies reward them with reduced premiums. But as the years pile up, so will the cost of your insurance premium. Other than teenagers, drivers over 70 have the highest fatality rates of any age group.

Cheap Car Insurance for Seniors - Here's How You Can Save

There are dozens of factors that companies use to determine car insurance rates for seniors—and people of all ages, for that matter. 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 don't pull your hair out yet—you're not helpless. There are things you can (and should) control that can help you dramatically lower your premiums, making car insurance for seniors far more affordable.

Keep your retirement nest-egg in your bank account and out of the hands of your insurance company by following these money-saving tips:

• Shop around for cheaper coverage. There are tons of car insurance options available to seniors and the internet is the perfect place to find them. Search for cheap insurance for seniors by using a free comparison site like InsuranceRates.com to see if you can find a more affordable auto insurance rate.
• Take a refresher course in safe driving. This is one of the best things you can do to find cheap car insurance for seniors. A majority of states now require insurance companies to give a discount—typically 10-15%—to seniors who successfully complete a safe driving course.
• If you’ve a senior driver, you may have retired and finally kissed the daily commute good-bye. If so, congrats! Companies that provide car insurance for seniors usually offer a low-mileage discount to recent retirees.
• Seniors are still an active portion of the workforce. If you have been at the same job for years, let your insurer know. Stable employment may help reduce the cost of insurance for seniors and other drivers.
• If you drive an older car, you may be able to save. Older models generally have a lower value and cost less to repair, so the cost to insure them is also lower.
• On that older car, consider reducing or eliminating comprehensive coverage. Take that money and set it aside to repair the car yourself if necessary. You may never need to use it.
• If you decide to spend a bit of your nest-egg on a new car, check rates before you buy. Luxury cars, high-performance vehicles and cars on the “most stolen” list won't help you find cheap car insurance for seniors.
• If you have more than one vehicle, it may be cheapest to 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 credit score healthy. Insurance companies today use credit scores as a major factor is setting rates.
• When your policy is renewed, pay it all at once. Monthly installment plans can add hefty finance charges to your bottom line—sometimes as much as $7 per month.
• Finally, drive safely and keep your driving record clean. Speeding tickets, accidents, even a fender-bender can cause a dramatic rise in a senior's insurance rate. Slow down and, if necessary, limit your driving to daylight hours. Know your limitations and use common sense. Staying accident-free is one of the best ways to secure cheap car insurance for seniors.

Finding Auto Insurance for Seniors is Easy!

See? There are plenty of ways to reduce the cost of car insurance for seniors. So if you're a senior, make these years a little more “golden” by saving a bundle on your auto insurance. Look for a better rate by using a free comparison site like InsuranceRates.com to see if you can find a more affordable rate.