Mature drivers who have a number of years of driving experience may be considering reducing the level of auto insurance coverage they have in place as a way to save money. This is probably not the best choice for them, since older drivers can be involved in an at-fault accident.
Since many middle-aged or older drivers have accumulated property and other assets, they need to have enough insurance coverage in place to protect them. The minimum level of protection required under state law should be considered a starting point for buying coverage. In many parts of the United States, these limits are relatively low and are not likely to provide enough protection if a serious accident occurs.
A recommended level of coverage for mature drivers is as follows:
- bodily injury coverage of $100,000 to pay for one person’s injuries and damages following an accident
- $300,000 in bodily injury liability insurance to compensate two or more accident victims for their medical bills, rehabilitation costs and lost wages
- property damage insurance coverage of $100,000 to pay for repairs to the other driver’s vehicle, as well as public property damaged or destroyed in the accident
Drivers who want to keep their car insurance coverage costs down should make a point of shopping around to get the best rates for the level of protection they need. Rates can vary significantly, depending on the company offering the coverage, and many companies offer discounts to policyholders with good driving records.