Do Old People Over Pay for Car Insurance?
Theses answers vary greatly depending on who you talk to. Companies like the Hartford and Travelers are known to give discounts to senior drivers and actually increase their coverage limits for a lower price. But what about the rest of the insurance
DEERFIELD BEACH (I-Newswire) September 26, 2013 - Let someone drive your Car?
We know, that you should know - you weren't in the driver's seat! So by what method can your car insurance plan punish you for another person terrible driving? That being said, the fact of the matter is, your insurance plan's got nothing on you if your pal steps up and pays for repairs by himself. In any case provided that this buddy of yours can't or won't pay, you'll need to open a claim with your insurance agency. Furthermore once you index that claim, your rates will probably climb. Unreasonable, beyond any doubt, however that is the manner by which the framework meets expectations.
There is one saving grace. In the event that you didn't give your friend authorization to take your wheels, there's a great chance you won't be held liable for the harm and damage done. In any case, if the mischance included an alternate or different vehicle, your car insurance is insured and the coming about harm goes past your policy limits. The owner of the vehicle can approach you for medical costs and any personal harm caused. The ethics of the story: Choose your companions more closely. Also, as Shakespeare composed, not a borrower or a bank be right.
Wedded individuals appear to have all the good luck for insurance. Factually, they live for a greater amount of time. Also, studies show married individuals (and, of course, anybody with a robust FICO score) are significantly more averse to get into accidents or acquire other driving violations than their single partners. And, if a married individual does get into a mishap, its prone to be less costly than one a single individual might be included in the same event. As anyone might expect, some insurance agencies respond to these facts by increasing the rates of their single demographic, paying little mind to their driving history. Who ends up as the winner as far as safety net providers' hazard appraisals? All things considered, the least hazard bunch, it appears, is embodied in marriage, adult ladies who don't smoke and adult males with low cholesterol make up the lowest group of risks.
Who else makes up the elite list by the car insurance companies that qualify for the good priced insurance policies? Well we know its not the young, because insurance companies give much cheaper prices to those that have driving experience, but not too much driving experience like the elderly. Yes that can be confusing, but do not let it play tricks with your mind. Safety concerns are just that safety concerns, and the lowest age group posses a much higher risk with the choices they make behind the wheel, than with those that have experience driving.
Do old people pay more for auto insurance?
Theses answers vary greatly depending on who you talk to. Companies like the Hartford and Travelers are known to give discounts to senior drivers and actually increase their coverage limits for a lower price. But what about the rest of the insurance companies out there? Well that's where the really, really, grey area comes into play. The stats are not shared by private companies that want to protect their corporate image, rather than the truth. Most insurance companies increase premiums when drivers turn the age of 55 or older.
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Published On:September 26, 2013
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