5 Tips For Seniors to Save Significant Money on Your Auto Insurance in 2020

Many of seniors are now looking for creative ways to cut monthly costs and loosen up cash flow especially in 2020.  One place many seniors don’t think to look for savings… their car insurance. 

In this article, we will tell you what the auto insurance industry doesn’t want you to hear and tell you how you can potential save hundreds, freeing up much needed monthly income.   Below are 5 pro tips and little-known secrets the car insurance companies don’t want you to know about. 

1. Compare and Potentially Save $859/yr 

When car insurance companies compete, seniors save & win!

In today’s world, car insurance companies may not always have your best interest in mind.  Many senior drivers have been with their insurance company for years, but their loyalty is most likely not paying off.  

A recent study conducted by Nerdwallet*, said that the average American household can save $859/yr* off their car insurance premiums.  That’s huge!  What would you do with an extra $859 dollars?  

With new technology, comparing auto insurance providers has never been easier.  When seniors visit this Free Rate Comparison Tool, the industry leader in unbiased auto insurance comparisons, you get an expert view on the best rates from up to 30 auto insurance companies delivered right to you.  You literally can do it from the comfort of your own home.  It takes less than a few minutes and can result in hundreds of dollars in savings every six months.

If you meet at least 2 of these requirements, you may be eligible for significant savings.

2. Seniors Credit Score Reduction Discount

Read this point for potential savings up to 21% or more

Did you know seniors have the highest credit scores on average compared to any other age group*?  And this could mean significant savings up to 21% or more on your car insurance premiums, and for some, it could be much more than that.  

The fact is, In most if not all states, insurance providers factor in your credit history in setting your monthly premiums.  Even the difference in premiums between someone with excellent credit vs good credit could be significant. According to Consumer Reports*,

“Our single drivers who had merely good scores paid $68 to $526 more per year, on average, than similar drivers with the best scores, depending on the state they called home.”

The bottom line – If you haven’t compared or shopped for auto insurance policies recently, you may not be getting the best deal for you.  There’s a chance you could be paying an auto insurance premium that does not factor in your most recent credit score.  Get the discount you deserve and compare new auto insurance policies for seniors now. 

Check to see how much you could save with a high credit score >>

Click your credit score below and see how much you can save (estimate okay!)

3. New Rules & New Discounts… Oh My! 

Most seniors don’t know that you may qualify for a bunch of discounts on your auto insurance if you fit the right criteria. Knowing the discounts you qualify could literally save you hundreds of dollars….

“Seniors are safe drivers compared to other age groups, since they often reduce risk of injury by wearing safety belts, observing speed limits, and not drinking and driving.” AAA.com*

The thing is, most seniors might renew their insurance policies for six months or a year without reevaluating their coverage or pricing.  This is very common but a lot can happen over the year(s) that changes the way your rates are set.  For example, you might get substantial discounts if: 

• You’ve gone three years or more without an accident
• You own multiple cars
• You car is now older and doesn’t cost as much to insure
• You bought a house and can now bundle insurance
• You rented an apartment and can now bundle insurance
• You moved or planning to move
• You are a member affinity group or association
• You removed one of your children driver from your policy
• A child moved to college and rarely uses the car
• Many more…

The bottom line: “If you’ve had the same insurance for years, you’re likely missing out on discounts.  Substantial discounts could be waiting for you and each insurance company is different. Contact your insurance agent or get multiple quotes from different insurance providers and see who gives you the best discounts today.  

Calculate your new premium and see how much you could saving by driving less today >>

OLD RATE – $378

4. Not Driving As Much?  Drive Less Means Paying Less

This senior discount could save up to 49% on your car insurance 

Let’s face the facts, seniors are driving significantly less in 2020, and because Americans aren’t driving anymore roads are safer, there are less accidents, and you are putting less miles on your car.  This should mean that there are potential savings breaks ready for you.  

According to the Federal Highway Administration, seniors drive an average of 7,646 miles/yr or about 49% less than someone in their 30’s! If you have recently retired or find yourself driving less than you were previously, you could be missing out on some significant savings.

For example, we recently discovered one company can charge as low as 3 cents/mile driven*!  Using this basic stat means someone driving 15,000 mile/yr would be paying $450/yr compared to $229/yr for a senior who drives significantly less than that* (note results may vary).  These savings could be real for you.  Check to see if you qualify for this senior savings discount now.

Calculate your new premium and see how much you could saving by driving less today >>

How many miles do you drive per year (estimating is okay!)

5. Switching Policies is Easy Peasy  

When car insurance companies compete, seniors save & win!

Many seniors believe it is a massive hassle to change our auto insurance policy, which may have been true years ago. But with several companies offering services online, you can get real quotes delivered right from your computer or phone. No in-person visits, no big packets to mail. 

There are also big benefits to switching your insurance provider.  70% of American consumers have been with the same insurance company for an average of 4 or more years*.  In that same time, they could have realized over $3,436 plus savings*, if they shopped around and switched to a lower priced insurance company.  Switching to another insurance provider could literally save you hundreds of dollars every single year.

Here’s How You Do It:

Step 1

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

Step 2

Once you enter your zip code and go through a few questions, you will have the opportunity to check for the best carrier quotes in your area for a savings of up to $536 a year.

Select Your State