A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products, including home, life, auto, and commercial, and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, mainly in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers Insurance CSR 4 Years

UPDATED: Oct 18, 2021

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Important facts to know...

  • Car insurance is available to nearly everyone, especially older drivers
  • Premiums can vary greatly based on who quotes the policy
  • Perform price comparisons and use your power as a consumer to gain value in your premium and policy

The insurance industry is one in which there is a product that meets the needs of every single consumer; it is just a matter of connecting the insurance carrier with said individual. As a consumer, how can you be sure that you are getting an ideal car insurance policy?

There are so many factors that come into play when it comes to how insurance carriers price policies. If you are an older driver, that is yet another variable that can work in your favor or against you.

Your personal factors’ impact on the premium depends on the insurance carrier providing you with the quote.

The goal as a consumer in the car insurance industry is to be sure that you are getting the most value that you can. You want to get coverage, limits, deductibles, all for the lowest amount of premium dollars possible.

When you can do this, you have done your comparative shopping successfully and have driven home a value proposition for yourself.

As an older driver, you are in theory, a smarter consumer as well, so use that to your advantage when shopping for car insurance.

Start comparison shopping today for better auto insurance rates! Enter your ZIP code above!

Every Insurance Carrier is Different

The biggest thing to remember when you are shopping for car insurance is that every single carrier is going to be different.

You may have the same exact coverage, policy limits, deductibles, car, driver, but get entirely different premiums from two separate car insurance carriers. How can one car insurance carrier be so different than another?

Car insurance carriers price policies based on their modeling and on what they think is correct.

One insurance carrier may think that charging you $1,000 in premium is going to be profitable to them, while another thinks that you as a risk may be profitable with just a $500 premium. There really can be that big of a difference from one carrier to the next.

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Niche Carriers for Older Drivers

There are also insurance carriers in the market that cater towards older drivers. If you are an older driver in the car insurance market seeking out a policy for yourself, these insurance carriers could be a better option for you.

Car insurance providers, now more than ever, rely on modeling and actuarial analysis to figure out where they need to go with premium dollars based on the risk that you present.

For an insurance carrier, it all comes down to the loss ratio. Insurance carriers want their loss ratio to be under 100 at all times. A loss ratio of 100 means that for every dollar in premium they take in, they pay out one dollar in losses.

A loss ratio of 98 means that a car insurance carrier is making a profit, while a loss ratio over 100 means they are losing money. Niche carriers may be able to competitively price you as a risk amongst other older drivers more accurately.

Insurance is Always Available

You may think as an older driver that you may not even qualify for car insurance. Not qualifying for car insurance could not be farther from the truth; insurance is always available for everyone.

Even if you cannot have someone sell you an insurance policy, there is always the involuntary market where you can get insurance through state-sponsored pools.

Insurance is always within reach, and 99 percent of the time there is going to be an insurance carrier in the standard voluntary market that will write you as a risk and sell you a policy. Even if you are an older driver, you are going to be able to qualify for car insurance.

Knowing that car insurance is always available to you and being able to comparatively price shop puts you in a powerful position.

It is up to you as a consumer to do your homework, get out there, and research. Request car insurance quotes from providers and sees what they are willing to offer you.

If you are not getting the premium that you are looking for, put in the work and keep searching. You may find that other carriers will help you get to that value point. In the end, you may be mighty impressed with the results and your car insurance policy.

Start comparison shopping this moment and find better auto insurance rates! Enter your ZIP code below!


  1. http://www.iii.org/article/what-determines-price-my-auto-insurance-policy
  2. https://www.allstate.com/auto-insurance/car-insurance-limits-deductibles.aspx
  3. https://www.answerfinancial.com/insurance-center/agents-corner-why-are-quotes-from-different-insurance-companies-so-different
  4. https://www.irmi.com/online/insurance-glossary/terms/l/loss-ratio.aspx
  5. http://www.iii.org/issue-update/older-drivers
  6. https://www.thebalance.com/what-is-a-high-risk-driver-527253