Leave a Message

Thank you for your message. We will be in touch with you shortly.

How Seniors Can Save on Car Insurance

seniors rismedia April 17, 2024

How Seniors Can Save on Car Insurance

Auto insurance rates typically rise for senior citizens, who can be more accident-prone than they were in middle age with slower reflexes, changes in hearing or vision, and health conditions that can make driving difficult.

Older drivers are also more likely to die or suffer worse injuries in auto accidents than younger people, requiring expensive treatment. That can lead to higher costs for insurers, which are passed on to drivers.

Senior drivers can lower their auto insurance costs in a few ways:

Take a class: Many states require discounts for completing a driver safety course. AARP offers many of these classes, which can reduce premiums by 5-15 percent.

Pay-as-you-go: Seniors can save up to 40 percent by using pay-as-you-go insurance programs where a device is installed on their car to record mileage and driving habits. Speed, braking tendencies, and acceleration are collected and people who drive safely can have lower insurance premiums.

Drive less: Chances are you’re no longer commuting if you’re a senior driver, so be sure to alert your insurance company to your annual mileage change. Driving about 7,500 miles per year or so can save about 10 percent on insurance. A device tracking your mileage can tell your insurer how few miles you’re driving.

Less coverage: If you go to a second home for the winter and leave your car at your primary home, ask your insurance company if it offers “parked vehicle” or “snowbird” coverage during the months you’re not using your car.

Get a safer car: If you’re thinking of buying a new car, you can save on insurance if it has the latest safety features. Rearview cameras, lane drift warnings, collision warning systems, and parking assist, among others that aren’t even on the market yet, can lower insurance rates.

Group discounts: Groups such as AARP have promotional pricing, called an “affinity discount.” If you’re a retired teacher or government worker, for example, your union may have a group discount for members.

Stop driving: This is an extreme way to save money, but if your auto insurance rates are high because you have a poor driving record, it may be time to stop driving entirely.

AARP says that some of the signs that you’re having difficulty driving include frequent close calls, dents or scrapes on your car, getting lost in familiar locations, trouble seeing or following traffic signals or signs, confusing the gas and brake pedals, misjudging gaps in traffic at intersections, and having difficulty turning around to check the rear-view mirror while back up or changing lanes.


Recent Blog Posts

Stay up to date on the latest real estate trends.

pool

Pros and Cons of Installing an In-Ground Pool

A backyard, in-ground pool can make any day feel like a vacation. It’s the perfect spot to squeeze in some morning laps, cool down mid-week after work and lounge pools… Read more

Selling

How to Showcase Your Property When Selling During the Summer

No matter where you live, the summer selling market is hot. Sellers are trying to take advantage of an increased number of buyers, higher asking prices driven by the d… Read more

Vacation Home

Important Vacation Home Criteria to Consider

If you’re ready to invest in a vacation home, there are likely many locations to consider. Finding an area to focus on can be difficult if you don’t have a set locatio… Read more

Inspiration

How to Create a Light, Airy, and Summer-Inspired Space

Summer is both a season and a feeling. It’s a time that feels easier, more relaxed and all-around lightened up. Bringing that summer-inspired feeling into your home ca… Read more

Parties

The Simple Guide to Hosting Memorable Outdoor Parties This Season

The arrival of spring and summer months can usher in some of the most memorable time spent with friends and family. There is something magical about taking your celebr… Read more

Protect Home

4 Steps to Protecting Your Property During the Hot Months

All homeowners want to keep their property protected, but protecting your home requires a lot more than just home security, as many homeowners assume. Property protect… Read more

Budget

Best Budget-Friendly Ideas to Upgrade Your Outdoor Space

Creating the perfect outdoor space is something you, your family, and your guests will enjoy for years to come. Unfortunately for homeowners on a budget, backyard upgr… Read more

Making Home Safe

How to Make the Kitchen Safe for Your Toddler

Toddlers are active, curious and often unaware of the dangers around them. The kitchen is one area where you need to be particularly careful to keep your child safe. H… Read more

Convert

Should You Convert Part of Your House to an Apartment for Your Adult Child?

Moving back home can make life easier for a young adult who is not yet established professionally and financially. Turning part of your house into an apartment can let… Read more

Work With Us