How to Find the Best Auto Insurance for Seniors

Senior drivers and insurance
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As you enter your 60s and begin planning for retirement it’s a good time to become more mindful of how you invest your money and whether you’re getting the best value for it. This is true for both your auto insurance and your retirement nest egg. You should make sure you have adequate coverage based on the value of your car, your lifestyle, and the benefits and discounts you want and can take advantage of. Whether you’re driving less than before, taking epic road trips across the country in your RV, or just want to reduce your expenses as you get closer to retirement, you have some fantastic options to choose from. Find out how to pick the best auto insurance for seniors living in Ohio, Indiana, Maryland, and West Virginia

Change your driving status from ‘commuter’ to ‘driving for pleasure’

Many drivers over the age of 65 are beginning to consider retirement. When you switch your driving status from ‘commuter’ to ‘purely recreational’, most insurers will give you a discount. This ensures that the number of miles you travel per year will be drastically decreased, potentially saving you a lot of money.

Take a defensive driving class 

Depending on your state, most car insurance companies are forced to offer a government-mandated discount to seniors. 

Depending on your state, you might need to take a class to review your driving abilities to receive the discount. A few classes are offered face to face, while many are offered online through AAA and AARP. Check with your state to see which programs are endorsed for getting the discount. 

The classes are inexpensive — in many cases less than $20 — and they cover a lot of territory. You’ll learn how aging and prescription medication can impact driving, how to safely adjust to those changes, and how to handle a variety of driving situations. Kyle Rakow, Vice President, and national director of AARP Driver Safety said, “the AARP Smart Driver course is not only a great refresher for experienced drivers, but it can help drivers save money on their car insurance. Discounts vary based on the state, the participant’s age, driving record, and other factors, so check with your insurance agent before registering for the course.”

If you are over 50, you could get insurance for seniors discounts

Certain auto insurance companies offer discounts to policyholders over the age of 50. If you plan on moving to another state after retirement, it’s important to remember that car insurance premiums will vary depending on your location. So you might consider comparing quotes from a variety of insurers to find the best rates. Other factors that might result in discounts are:

  • Defensive driving you have taken recently
  • A 5-year ‘good driving’ discount is possible through several different insurers
  • If you are retired military or government employee
  • Multi-car policies can also bring in savings

Compared to teens, seniors still pay less

A driver with more years behind the wheel is less likely to be involved in an accident and file a claim for compensation. This translates into cheaper quotes in general for seniors in comparison to teens. To examine average car insurance rates by age and state take a look at this useful article. Malhotra & Assoc. Insurance recognizes that our customers over the age of 50 have different needs and interests compared to the teens we insure. Our guidance and insight can help you make the best choice to fit your needs in retirement. Let our team of agents help you today in Ohio, Indiana, Maryland, and West Virginia

*Our blog articles are intended for general informational purposes. Please contact one of our Licensed Insurance Agents if you have specific questions about your coverage.

About the Author: Alekha is an expert in the insurance space and has been with the Malhotra & Assoc. Insurance team since its inception. Alekha works to provide expertly written and researched content for the Maholtra & Assoc. Insurance agency.

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