For senior citizens aged 50 and above, most car insurance companies offer discounts that help reduce cost considerably. These discounts are most favorable within the 50-65 age bracket as drivers of this age have passed their reckless driving years and are within their still optimal cognitive abilities. Senior citizens in the 50-65 age bracket are less prone to road accidents than those aged less than 30 or 70 and above.
Most insurance companies are known to offer discounts ranging from 5% to 10% for society’s wiser population. If you are senior citizen with a driver’s license, you should make sure that your car insurance agent reviews your policy on a regular basis. In this way, you will know when you are eligible for a discount or any other associated benefits that may not have been available at the time you initiated coverage.
For senior citizens who are opening a new account or migrating from one provider to another, the applicable discount should automatically reflect in the quoted rates. If this is not the case, then you should remind the agent to cross check to see if you qualify for a discount by virtue of your senior citizen status. This discount is applicable irrespective of whether you are applying online or in person. However, it is important to note that discount rates vary from state to state and from agency to agency.
Depending on your state of residence, you may be required to complete a mature driving course before you can qualify for a car insurance discount. Completing one of these courses, in addition to having a clean driving record will increase your chances of saving a few bucks on your premium. You can check with your insurance company, the National Safety Council, or the DMV, RMV, or other pertinent motor vehicle agency in your state for a list of approved training schools for mature driver training.
Factors Affecting Discounts for Car Insurance
- As a retiree or someone who is only employed part-time, you qualify for some discount on your car insurance quote. As in other cases, the rates vary according to state and agency.
- For those in the military service or National Guard, whether retired or still in active service, you also qualify for discount on your car insurance premium.
- As stated earlier, having a clean record as an experienced driver will also put you in good stead to enjoy generous discounts on your insurance quotes.
- To further boost your chances of getting these discounts for as long as possible, you should consider fitting your car with additional safety features like anti-lock brakes, security alarms and side airbags.
- Finally, the insurance companies are aware that the less you stay off the roads, the lower you chances of incurring damages through road accident. Hence, convincing them that you will have lower mileage as a senior citizen will see the discount rate on your car insurance improve favorably.