7 Tips For Seniors to Save Big on Car Insurance in 2020

By Francis Wolcott  | Last Updated Aug 1, 2020

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Car insurance rates typically drop as you get older, but may start going back up again when you hit your 60s and 70s. Frustrating, we know! But there are things you can do about it. Here are our 7 tips for how seniors can save on car insurance in 2020.

1. New Auto Insurance Policies That Significantly Reduce Premiums – Save Up to $859/yr*

Do you drive less now because of the lock down?

If so, you should read this…

You may be eligible for big savings if you meet 2 of the following criteria:

Currently Insured
Age: 50+
Drive Fewer Than 70 Miles Daily
Qualifying Zip Code
Clean Record
Under 3 Tickets In 10 Years

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2. Your Location Really Matters!

Car insurance premiums vary a lot depending on your state and sometimes even your neighborhood! If you have relocated in your Golden Years, you may now qualify for low rates previously unavailable to you.

Even if your state does not offer senior discounts, there are a range of other factors that can reduce your premiums and should be considered.

For example, living in a rural area with a lower crime rate, parking your car in a garage, or even just living in a region that has lower repair costs or favorable weather conditions.

The point is, don’t assume you are getting the best deal. Find out if your location makes a difference and can save you money.

We recommend using the Free Rate Comparison tool at CarInsurance.net to get quotes for your region, find qualifying discounts, and get the best rate for you.

Here’s How You Do It:

Step 1

Click your state on the map to get your rate for free

Step 2

Answer a few simple questions, get quotes, compare, and save

Select Your State

3. Get Credit for Driving Less

These days, everyone is driving less. But for seniors that’s especially true – according to AAA, seniors already drive an average of 49% less than someone in their 30’s (and that was before Covid!).*

From an insurers perspective, the more you drive, the more likely you are to have an accident. Some insurers will offer discounts for drivers who don’t use their car for work or commute long distances. If that’s you, make sure to inquire if you qualify for these low-mileage discounts.

4. Bundle Insurance Policies

Insurance companies will often give you a discount on your auto insurance if you bundle it with other policies. The most common version is to bundle your auto insurance with home insurance, but that is not the only way.

For seniors who are enjoying retirement in an RV, boat, or motorcycle, you may be able to bundle those policies with auto to get savings as well.

5. Drop Unnecessary Coverage

Having adequate coverage is critical, but having unnecessary coverages, for things that don’t pertain to you, is wasting money.

There are some obvious ones to look at – if you never rent cars, you may not need rental car coverage. If you don’t have an auto loan, you may not need gap insurance.

Somewhat more complicated is understanding whether or not you need comprehensive or collision coverage. This will depend on the value of your car. Most policies only cover the value of your car minus the deductible. Your first step is to check on the value of your car. You can do this through the Kelley Blue Book.

6. Get a Car that’s Cheaper to Insure

The car you drive can have a big impact on your rate. Insurers are going to favor cars that are cheaper to repair and are associated with safe drivers.

They are also likely to consider safety features such as air bags.

If you have the option, you may want to consider switching vehicles, but make sure to do your research first. When comparing rates, you’re going to want to have the specifications of your current on planned vehicle on-hand.

Ready to get started comparing? Try this Free Rate Comparison tool at CarInsurance.net to save on car insurance or Enter Your Zip Code to Get Started >>

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7. Take a Driving Class

Many states require insurers to give seniors a discount for taking an online driver education course. Brushing up on your driving knowledge could save you money, and who knows, you might learn something too.

If your state offers senior driving course discounts, you may want to check out the following courses:

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