Insuring Drivers Over 70

[AZDave]

I want to get some input here on New Business, insuring seasoned citizens. I am not new to this gig, been in P & C since 1986. I am not a "write anything agency", but a very preferred, careful agency. I like to show profit to my companies.

So with that, is it wrong to tell someone over age 70, that you are too old to insure and just don't meet my agency underwriting criteria?

Just insured a 73 year old client. two cars, home and umbrella. spotless prior, superior credit. I would not put his age at 73 - met face to face. Very young for 73...

Two months into the policy he just hit a ped while driving out of a car wash....outcome unkown, not too serious.

There are many seasoned citzen stories to share......most deal with a $1.00 per month increase!

Ughh. Hate jeopardizing profit, but hate to say no to our seasoned citizens

Any similiar thoughts out there? (besides that I too will be old soon!)

 

[Theinsuranceguys]

Perhaps place older citizens with one of your carriers that does not offer contingency bonuses. This way if there is a loss it doesn't affect your pocket at the end of the day.

 

[F150]

Perhaps place older citizens with one of your carriers that does not offer contingency bonuses. This way if there is a loss it doesn't affect your pocket at the end of the day.

this is what i do, so easy, it makes sense, guess i better stop. LOL

 

[1manshow]

there's a reason so many preferred carriers surcharge for over age 70

 

[VolAgent]

Can you legally refuse to write people over age 70?