Can an insured person who is 70 years old still apply for insurance?
Most car owners know that drivers under 25 or those with a P license are generally considered to have insufficient driving experience and therefore have to pay higher insurance premiums. However, accidents involving elderly drivers are also frequent. In 2018, nearly 20% of traffic accidents in Hong Kong involved drivers aged 60 or above. How are insurance premiums calculated for seniors? This article explains the important points to consider when purchasing car insurance for elderly car owners
Narrow, winding roads double the risk for elderly drivers
Hong Kong's roads are narrow, winding, and often sloping, placing higher demands on drivers' reaction time and physical fitness. The consequences of a serious accident in a tunnel are even more dire. Furthermore, as we age, our physical functions decline, and health problems pose risks to both the driver and other road users. The risks of elderly drivers are particularly high. Older adults experience vision loss, making it difficult to judge road conditions; diabetics may experience blurred vision if their blood sugar spikes, and fainting if it drops too low; those with dementia may also struggle to orient themselves, and their slow reaction and coordination make it difficult to cope with unexpected road situations. Therefore, elderly drivers are generally considered high-risk individuals
People aged 70 and older can still apply for insurance, but they should pay attention to the regulations of each insurance company
While driving carries a higher risk for the elderly, extra caution can help prevent accidents, making the selection of good car insurance even more crucial. Most insurance companies on the market only allow individuals aged 18 to 60 to purchase insurance. However, some companies do not have age restrictions but will adjust the coverage and sum insured for different age groups. For those over 70, whose physical condition and reaction time are not as good as younger drivers, some insurance companies, after assessing the specific case and risk factors, will increase the premium and deductible for third-party liability insurance for the elderly by an average of about 50%. Some companies even have specific clauses for older drivers, such as requiring a medical examination for those over 65 years old to successfully obtain insurance. Therefore, seniors who plan to purchase car insurance must compare the terms of different companies and choose the car insurance plan that best suits their needs
Online car insurance quotes with expert comparison of terms
Although there are many different car insurance packages available for seniors, with numerous terms and conditions, drivers preparing to purchase car insurance will inevitably have a lot of questions and be unsure how to choose an insurance company. AWM Auto Insurance's quote service offers professional insurance team services to help you easily compare car insurance prices. Industry professionals are also available to answer any policy-related questions, allowing you to compare premiums and terms with peace of mind. Feel free to contact us anytime via WhatsApp if you have any questions