Reaching the age of retirement means starting a whole new chapter of your life. Although you'll have a lot more free time on your hands without the daily grind, you may have to learn to adjust to life on a more fixed budget. Car insurance is one of those monthly bills that might be adjustable, just by knowing a few insider tricks to getting the best policy rates.
Focus on Safety
Avoiding tickets and accidents is a big help in keeping insurance rates low. One way to do this is by taking driving classes. While drivers' education classes might be thought of as something only new drivers take, a lot of cities offer senior driving classes. These safety courses help retirees adjust to new challenges, like changes in hearing and vision, or adjusting for slower reaction times compared to their younger days. Taking a senior defensive driving course can help teach you new habits that will not only keep you safer on the road, but also may lower your insurance rates. Your local senior center or DMV should have more information about registration.
Adjust the policy you own
One of the major changes retirement brings, at least as far as driving is concerned, is your missing commute. Check your auto insurance policy to make sure that the existing guidelines accurately reflect your new retirement lifestyle. Annual mileage is a big part of your insurance rates; if you're staying closer to home, you may find some significant savings. You can also save on mileage if you're doing more biking, walking or taking advantage of your local public transportation system.
You can also adjust your policy in different ways, such as raising your deductible to lower your monthly premiums. Additionally, maintaining a high-priced comprehensive policy may not be as important once your kids are out on their own and you're driving a lot less. Dropping your coverage down to just liability is not only the easiest way to get really cheap auto insurance, but also makes more sense with the low-key, low-mileage, lower-stress retirement lifestyle.
Seniors often have membership access to groups and organizations that offer generous savings on many things, including car insurance. One example is the American Association of Retired Persons (AARP), which offers a percentage off everything from restaurant dinners to hotel rooms, including your car insurance. Other memberships, like AAA, can also mean a discount on insurance rates. Specific insurance companies may also offer rate breaks in other circumstances, like for former members of the armed forces. Check with your insurance company to be sure.
By taking advantage of the several opportunities out there available for seniors, finding cheap auto insurance is definitely possible. The main thing is to check into all the possibilities for discounts and find out which ones apply to your circumstances. There's just no reason your insurance rates shouldn't be lower as you head into your next phase of life.