Senior Living: 5 Ways To Save Money On Auto Insurance
Posted on: 29 October 2014
In today's world, seniors make up a large portion of American drivers. If you are like most seniors, you live on a fixed income. Unfortunately, auto insurance can take up a large portion of your monthly income—but it doesn't have to.
If you are looking to save on your auto insurance bill, keep these five tips in mind.
1. Look at Senior Discounts
Believe it or not, seniors are the safest driving group in America. If your driving record is clean, it may be worth it to ask your insurance company about senior, or "mature," discounts. Although these discounts won't drop your premium significantly, it can help.
2. Participate in Defensive Driving Courses
Many insurance companies will offer discounted rates for seniors who have participated and passed a defensive driving course. These courses address the most common issues seniors face when driving, such as new auto technologies. Courses will also explain the most common reasons for accidents, as well as how to avoid them.
3. Adjust Your Mileage
It is likely that you do not drive as much as you did when you were younger. After all, you probably are not driving to and from work or driving children around. If that is the case, be sure to let your insurance company know. Although it may not seem like much, adjusting your estimated mileage can save you money.
4. Use New Technology
Technology is everywhere today, including in cars. If you want to save money, consider adding a device to your car that monitors your driving habits. These tools will automatically send your driving data, such as driving speed, to your insurance company. After about a month of use, you can call your insurance company and ask for a policy adjustment based on the data they receive.
5. Assess Your Policy
If you haven't looked at your insurance policy for several years, now is the time to do it. As you age, your driving habits change. This means you may be paying for coverage you no longer need, such as extra drivers. You can also use this time to adjust your policy for bare minimum coverage if needed.
The CDC estimates that there were more than 30 million drivers aged 65 and older in 2009. That number is expected to rise in the next 20 years. If you, or a loved one, is a senior driver, use these tips to help you save some money on your auto insurance bill, like from ESI Insurance Agency.
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