Tmerno
People live longer and enjoy a better quality of life, probably increasing the number of elderly in society. Therefore, there is an ever-increasing demand for products and services more appropriate to this age class, such as seniors’ car insurance.
In this universe of new needs imposed by the market are highlighted, in the insurance segment, the following ranges of products and services. There is a difference in insurance and its contracting, which is a rank of advantages and benefits for customers who have already passed through maturity.
Continue reading and find out if there is a difference between traditional auto insurance and car insurance for seniors.
What is car insurance and what is it for?
With the advancement in lifespan, more elderly people become part of the mainstream society. Considering that quality of life has improved overall, one can easily notice that elderly people today remain active for a longer period than was observed years ago.
In this sense, the increasing presence of people in this age group driving their vehicles is immediately noticeable. Therefore, there is a need for specific car insurance for seniors.
This insurance must have different characteristics from the traditional one, as it is aimed at a different target audience. The differences observed provide advantages for the insurer and the driver of the insured vehicle.
In any case, car insurance for seniors is the same as traditional car insurance, but with some specific aspects. For example, as drivers in this age group tend to be more cautious and responsible, their involvement in accident situations is much lower.
As a result, the lower incidence of traffic accidents means less risk for the insurer and therefore results in cheaper insurance. With the same result, the travel times most commonly used by this age group of drivers almost always avoid peak periods and early mornings.
In short, car insurance for seniors has the same objective of compensating the policyholder in the event of an accident, as traditional car insurance. It works in a similar way, although it offers services and certain facilities in order to adapt to the target audience.
How does car insurance for seniors work?
As previously indicated, senior auto insurance functions substantially like standard auto insurance. Your insurance broker will be your greatest ally in this situation as well, offering advice on the steps and—above all—supplying you with the best options available so you can decide.
You analyze your needs based on the vehicle, the places you frequent and the uses you make of the car. Likewise, you consider the deductible and the Coverages that seem necessary to you, that is, those situations that are likely to happen, as well as those that, if they happen, you cannot be unprotected.
To this end, your broker will be of great help in advising you on the best coverage for your case and helping you evaluate the conditions that best fit your profile or needs. With this profile, he or she will search for the best offers among insurance companies and bring them to your evaluation and decision.
From the options provided by the broker, you make your choice and inform him so that he can forward the insurance proposal to the insurer. If the company agrees with your choices, the insurance policy is issued.
The policy is the document that summarizes all aspects involved in the contract. Thus, the coverage contracted, the value of the premium (insurance price) and the insurer’s responsibilities and yours are all set out in the insurance policy.
From then on, the vehicle is already covered by the insurance contracted under the conditions set out therein. You can now enjoy the peace of mind that insurance provides to those who own a vehicle, in addition to the services that may also be available.
Is it worth taking out this type of insurance?
It is certainly worth taking out car insurance for senior citizens. The advantages, in this case, start to appear, easing the burden on the customer’s pocket and continue with even more benefits. Follow along.
It’s a cheaper insurance
The premium value, that is, the price to be paid for car insurance, is lower for older drivers. And it is not difficult to understand the reasons for this when you take into account aspects of the behavior of older people such as:
- is more cautious in the measures and decisions it takes;
- statistically it circulates less during periods of greater risk (peak hours, nights);
- is generally more experienced in traffic and less rushed;
- Makes less use of the car (“drives less”) and, therefore, is subject to fewer risks.
Offers advantages in negotiation
The elderly have generally been increasingly valued by different markets. The insurance sector is no exception and seeks to facilitate access to its products.
Therefore, it is common to facilitate payment with a greater number of installments without charging interest. In addition, the offer of differentiated coverage and with greater possibilities of options is usually adopted by insurers for this public.
Provides special services
Elderly people may need to have access to certain services that resolve or facilitate mobility issues that they may face. Some insurance companies provide transportation for certain needs, such as attending medical appointments in situations where driving is restricted.
Likewise, other services can also be offered together with car insurance such as:
- collection and delivery of documents;
- domestic plumbing and electrical services;
- small installations and assemblies in the residence (clothesline, shelves);
- Installation of computer equipment and electronics in general.
As you can see, car insurance for seniors is very similar to conventional car insurance, but it has its own characteristics that make it really advantageous for the interested party.
