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Drivers through the generationsIt’s not uncommon for individuals to move parents back into their homes as they begin to age. It can be ideal for protecting them but also has benefits when it comes to keeping the family close. Yet, what happens to auto insurance? If your senior parents still drive, how can you keep car insurance affordable? It may be easier to do than you realize.

Determine Who Is Driving and How Much

Most of the time, you can add senior parents to your existing car insurance policy. Individuals living in the same home may often be on the same policy. Bundling like this can often reduce overall costs. However, the first step is to understand who within the home is driving. When speaking to an auto insurance agent, you need this information. It defines who needs coverage within the home.

How much your seniors drive also matters. It is best to ensure your policy matches the risks present. For example, if you have an elderly parent who drives only a few miles every week, request a low mileage policy for their vehicle. It might help you save, while still providing adequate protection.

Covering Each Vehicle

It is also important to have proper coverage on each vehicle. The coverage you obtain depends on the value and risks to that car. Most often, auto liability insurance is essential. Collision and comprehensive auto insurance help protect the value of the car. Any vehicles with a loan will likely need all forms of coverage.

Here is a money-saving tip. Let’s say your parent drives infrequently, perhaps just once or twice a week a short distance. In this case, the senior might not need to have to have his or her own policy. Insure all vehicles within the home with adequate coverage. This includes the senior’s car. Then, list the senior as an additional driver on the policy. This helps to reduce costs. You probably do not need to have a separate policy for individuals living in your home like this.

Keep in mind there are risks to driving as a person gets older. Be sure to protect all assets wisely, then. Proper coverage for liability risks as well as collision may become more valuable. And, once it is no longer safe for your live-in parent to be on the road, it may be time to talk about this, too. Insuring seniors does not have to be hard. Often, these policies are inexpensive especially if individuals do not drive often. Call us for a quote at (866) 883-9357.

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