Auto Insurance Decatur Illinois IL
Reader’s Question:
How would my father’s premium rate change after he turns 75? Are we expecting an increase or a decrease? From what I know about insurance rates, age is considered a factor. Do you think his insurance company in Decatur, IL will do the same?.
Paul
Decatur, IL
Based on statistics, elderly drivers over the age of 75 are more risky, and when they are involved in crashes, they suffer more debilitating, long-term injuries. However, a research by the Insurance Services Office (ISO) in 1997 showed that relative to other drivers, drivers over age 75 experienced more losses — property damage and bodily injuries, so the ISO recommended eliminating the 20 percent discount, which would effectively be a rate increase. Since approximately one-third of all auto insurers in the nation subscribe to the ISO’s research, they have the option to use it in setting their own premium rates.
State laws do not permit car insurance companies to single out elderly drivers and raise car insurance rates solely because of age. Rather, they can legitimately increase premiums if they can show that drivers over age 75 are more risky, and when they are involved in crashes, they suffer more debilitating, long-term injuries than younger motorists. Contacting your Decatur, IL insurance agent to know more about the terms of your father’s insurance policy may help you size up the possible change in your father’s car insurance rate.
Tags: automobile, car insurance rate
