The increasing number of older Americans behind the wheel leaves many family members wondering how much longer their loved ones will be able to keep auto insurance coverage. According to statistics provided by the Federal Highway Administration published in 2008 revealed that 10% of all motorists, or 21.6 million licensed drivers, in the United States was comprised of drivers over the age of 70. AARP, an insurance coverage provider for individuals over 50, projects by the year 2025 that drivers over the age of 65 will embrace 20% of all motorists.
Despite projections offered in 2003 by highway “experts” claiming as the average age of American drivers grew, so would the number of accidents involving mature motorist. In reality, however, the Insurance Institute for Highway Safety reveals 32% fewer fatal traffic accidents occurred in 2009 among drivers 70 and older as compared to data from 1997.
So what does the statistics mean for your aging loved one and insurance coverage possibilities?
Individual Insurance Coverage
The bottom line is there’s no set age that deems a person too old to drive or obtain insurance coverage. In fact, the above statistics indicate that older drivers are involved in less serious fender benders as well as improving their chances of being able to survive an accident. The improvements are in large part to modern technology installed in new vehicles as well as better insurance coverage.
While some drivers may be ready to hang up their keys after the age of 50 due to deteriorating health conditions, others may feel comfortable driving well past 90.
The National Safety Commission offers some signs that may indicate that your aging loved one may be ready to retire from the road and cancel existing insurance coverage. The warning signs include:
- Difficulty paying attention to road signs and traffic signals.
- More incidents of close calls and near-misses (indication of slower reaction time).
- Driving below the normal speed limit.
- Repeatedly forgetting to pay insurance coverage premiums.
- Trouble navigating or frequently getting lost going to familiar destinations.
- Receiving more traffic tickets or verbal warnings.
- More dents and scrapes on the vehicle.
Proactive Steps to Ensure Safe Drivers and Insurance Coverage
There are some effective proactive steps being taken to ensure aging motorists are still eligible for insurance coverage as well as remaining to be safe drivers. Several states are now shortening the renewal cycle for driver’s licenses of motorists over the age of 65 or 70.
Also, mandatory vision testing is required for drivers once they reach a certain age to qualify for various insurance coverage policies. Programs are also available for mature drivers to improve driving skills.
AAA also offers several online skill assessments and self-rating resources that help to determine whether or not your loved one should renew insurance coverage. When the time does come to have the “talk” with your aging loved one about surrendering the keys, be sensitive and patient when discussing handing over the keys and cancelling insurance coverage.
Related Links to Insurance Coverage for Senior Citizens:
http://www.carinsurancequote.net/senior-car-insurance.html
http://cheapercarinsurance.com/tips/affordable-car-insurance-for-senior-citizens/
