As you age, your priorities change—especially once you hit retirement. With transformations in your lifestyle comes the opportunity to reevaluate your finances and switch to insurance policies that better fit your new habits and way of life. Additionally, your status as a senior or retiree will likely qualify you for new discounts and benefits.
When it comes to auto insurance, many insurance providers have policies specifically designed to meet the needs of older drivers. If you’re a senior looking for a new car insurance provider, you’ll want to shop around and compare these policies and their advantages. Many senior drivers want convenience, simplicity, and flexibility in their auto insurance coverage. Looking for the following features will help you find the best deal and the most comprehensive coverage.
1. Roadside Assistance
If you’ve had your driver’s license for five or six decades, chances are, you’ve needed help at the side of the road before. You know how frustrating it can be to have to wait outside your car and scramble to contact friends or family for help or to scour the Internet for a towing service that won’t charge you an arm and a leg.
If you want simplicity and security during unfortunate circumstances like running out of gas or popping a tire, you’ll want an insurance plan that includes 24/7 roadside assistance. With this option, you’ll know what to do and who to contact no matter what situation you face on the road.
Typically, roadside assistance includes:
● Tire changes
● Roadside gas refills
● Lock-out services
● Battery jumps
2. Special Rates for AARP Members
Are you a member of AARP? If not, you may want to consider joining the 38 million members across the U.S. who look to this organization for financial and social support.
If you are a member, you’ll want to take advantage of the full range of benefits available to AARP subscribers. Outside of the discounts that the organization offers directly, AARP members qualify for discounted insurance plans that are sold by independent insurance companies but cater specifically to AARP members and their unique needs. AARP auto insurance plans typically have lower rates and include perks like 12-month rate protection, deductible reductions, after-accident assistance.
3. Decreasing Deductibles or Safe Driving Discounts
Insurance providers base the price of premiums on risk analysis. Unfortunately, older drivers have a higher chance of getting into an accident than other demographics, which raises the average cost of insurance. To help offset the additional cost for drivers with clean records, many insurance providers offer decreasing deductibles or other incentives for safe driving.
When shopping for a car insurance policy, be sure to ask if you seniors are eligible for decreasing (or disappearing) deductible plans, which reward accident-free drivers with gradually lower deductibles. Also, inquire about senior-specific save driver courses that can earn you a discount.
4. First Accident Forgiveness
If you’ve driven safely for decades and have meticulously followed the rules of the road, but then get into an accident—you deserve a break. Some car insurance companies offer first accident forgiveness for senior drivers with clean driving records for five consecutive years.
5. Autopay Options
To enjoy your retirement years to the fullest, you don’t want to spend hours each month paying bills. Paying for insurance should be straightforward and secure and should require little effort on your part. For the most convenience, look for auto insurance providers that offer online autopay services.
6. Low-Mileage Discounts
After retirement, many people drive significantly less than when they commuted to the office daily. If you’ve changed your lifestyle and no longer spend hours behind the wheel each week, you may want to consider an insurance plan that includes a low-mileage discount or even the option to pay per mile.
Driving Tips for Seniors
Once you find the right insurance provider who offers fair pricing and all the security and convenience you need, your only concern is staying safe on the road. To drive safely and responsibly, you’ll have to monitor your health and be honest with yourself about any developing conditions that could compromise your driving abilities. The Mayo Clinic recommends staying physically active, having vision and hearing tests conducted regularly, and taking refresher driving courses. With the mindset, commitment to self-awareness and safety, and the right auto insurance policy, you can look forward to many more years behind the wheel.
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