Once you reach a certain age, you are rewarded with discounts at some stores, restaurants, and entertainment venues. And, in some instances, you may be eligible for discounts on your auto insurance. Discounts are just one way seniors are able to get cheap car insurance.
Join AARP
Drivers who are at least 50 years old and members of AARP are eligible for discounts from participating insurance companies. The exact amount of the discounts varies depending on the insurance provider's guidelines. Keep in mind the age at which you qualify for the discounts is set by the insurance company. In other words, just because you are eligible to join AARP at 50 does not mean you automatically qualify for discounts offered to seniors if the discounts are contingent upon you meeting age requirements.
Be a Loyal Customer
Staying with the same insurance company over a long period of time and maintaining a clean driving record can result in as much as 10% off your premiums when you reach a specific age. You can find out in advance the types of discounts your insurance company offers to older drivers, especially those who have been loyal.
Drop Medical Coverage
Seniors who have their own health insurance or become eligible for Medicare may want to drop the medical coverage they have through their auto insurance company. You will save money by not having to pay for duplicate coverage. If you are involved in a car accident and are injured, your personal health insurance will cover your medical bills.
Sign Up for Driving Refresher Courses
To qualify for certain discounts, insurance companies may require seniors to complete a refresher course on safe driving to demonstrate you are not a risk to the company. Some companies offer a stand-alone discount for senior drivers who complete safe driving classes. This means you can get a discount just for completing the classes.
Seniors have many opportunities to get cheap car insurance. Taking advantage of as many as possible can result in major cost savings. Cheap car insurance just requires knowing where those opportunities await.