insurance

Car insurance questions for older drivers

Has your family status changed?
Has your family status changed? © XiXinXing/Shutterstock.com

Changes in the structure of your household should spark an auto policy review and perhaps increase or lower premiums.

Adult children might move into and out of your home with some regularity. If such an adult child is going to drive a parent's car, he or she should be added to the parent's car insurance, increasing the premium. "An adult child living in the house and on your policy will affect the premium," Barry says.

Likewise, a child moving out of the parent's house may reduce the premium.

Divorce or death of a spouse was another auto insurance review trigger listed by Barry.
In his book "Insure Your Car for Less: A Practical Guide to Saving Money on Auto Insurance," David Goldstein wrote that being married is looked upon as a positive thing by insurers and being single is considered a neutral. That change in status can influence the premium.

advertisement

Show Bankrate's community sharing policy
          Connect with us
Find Senior Housing Near You

Let us help you compare

  • Pictures
  • Pricing
  • Options
Zip code or City, State

Get Help Now

advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Dr Don Taylor

File and suspend is your friend

Using the file and suspend option isn't just for couples looking to earn delayed retirement credits while receiving a spousal Social Security benefit.  ... Read more

advertisement

Senior Living Adviser

Raid IRA to get into senior housing?

Dear Senior Living Adviser, I am considering moving into a Continuing Care Retirement Community, or CCRC. I am 72 and retired (except for a couple days a week as an adjunct instructor at a local college, which will end...

View more Bankrate Advisers »

Partner Center
advertisement

Connect with us