Pointers to help the elderly save on their premium costs


While there are many advantages with retirement, auto insurance doesn’t really bring in many advantages for senior citizens. It is not just the young drivers who face steep rates with auto insurance, but the retirees and senior citizens as well. Only those who are in the prime of their lives actually get to benefit from cheap auto insurance rates. These are the adults who are in the 25 to 55 age group and they enjoy the maximum benefits. Auto insurance companies offer them maximum discounts. But even the senior citizens can avail discounts if they follow some simple tips.

First and foremost thing to do would be to enroll in a defensive driving course that is meant for seniors. Although senior citizens have a lot of driving experience and are generally safe drivers, insurance companies want to be doubly sure that senior citizens are alert as they once used to be. With the progression of age, it is only natural that seniors will have hearing-related issues or poor vision etc. Hence, insurers want to ensure that senior citizens don’t pose a risk on the roads. So, these driving courses are meant for seniors and will help them in understanding their limitations. For instance, if they have a problem with poor hearing or vision they can work around the problem.

Once you finish the course, the insurance company will offer you a good discount and it will help bring down the auto insurance premiums as well.

If you are part of a large group or any of the senior advocacy programs you will be eligible for discounts. In general, you can avail a lot of discounts if you take group insurance and that will result in cheaper rates for senior citizens.

You must check to see your mileage and if you are the kind who will use the vehicle just twice a week, then you could avail a lot of discount due to the low annual mileage. Retirees generally don’t have to commute long distances and can hence avail a considerable amount of discount on the premiums.

Having a good driving record surely helps in availing discounts irrespective of the age. If you are in your golden years and have a good driving record minus the tickets and citations you can expect your insurance rates to stay low. For each year you go without a traffic violation, you will be able to get a rebate or further deductions.

Check to see if you have paid off the loans on your car and then ensure that your vehicle is not over-insured. The physical damage coverage should not go higher than the actual value of the vehicle. You can always talk to your agent and avail cheap auto insurance rates.

Installing safety equipment can bring in discounts. So, ensure that you install feature such as anti-lock brakes, airbags, seat belts, burglar alarms, etc. Anything that will bring down the risk factor will help in getting you further discounts.

Lastly, it is important to shop around seriously if you wish to avail some decent discounts and reap the benefits of being a senior citizen.