Senior Car Insurance Savings

If you’re an older driver, chances are you drive less than you did in your job-commuting days, you buy cars that are less sporty, and maybe you’ve refreshed your driving skills with a defensive driving course.

Well, all those things can—directly or indirectly—lead to lower insurance costs. Even if you aren’t a senior driver, you probably have someone in the family or have neighbors who could benefit from the knowledge of mature driver premium reductions.

Not all insurance companies are the same, of course, but they all want new customers, so being competitive with programs and discounts helps them achieve that goal.

Here are some senior and retiree discount opportunities:

Senior discount

Drivers can usually get a discount just by reaching a certain age, largely because insurers know that senior drivers drive less and slower. The discount varies by insurer. Don’t wait for it to drop in your lap. Ask if your company has one, the qualifying age, and what you need to do to activate it.

Mileage Discount

If you’re no longer working, you’re probably driving less. Ask your agent if there’s a discount for driving less than a set number of miles. Sometimes it’s 6,000 miles per year. Sometimes it’s 10,000 miles. If you can realistically hold to those miles, let your agent know and you’ll pay less. And although you may already get a multi-vehicle discount, ask about the limited miles discount for one or both vehicles if you drive neither a great deal.

Retired Military

You don’t have to be old to be a military retiree, but your retirement status will probably earn you a vehicle insurance discount. Mention military retirement to your agent, even if you’re in your 30s or 40s.

Driving Course Discount

How easy is this? Take a defensive driving course for four to 12 hours, paying about $20. Don’t feel like going out? Take it online, if your state allows. You’ll refresh your knowledge of laws, reactions to certain situations and how to avoid driving under the influence. Your agent can recommend courses, and the insurer may even offer them. Usually the discount, about 5 percent, applies to drivers 55 and older. You may have to repeat the course every few years.

Senior Organization Discounts

You may earn a discount simply by being a member of a senior or retirement organization. It’s not universal, but you don’t know until you ask.

The Vehicle You're Driving

Getting rid of one vehicle for another is always costly, but lower insurance costs can ease the burden. Maybe the car or SUV you have isn’t comfortable for you—getting in and out is hard, or your arthritic knee aches when working the clutch pedal. Maybe it handles great but rides rough, or it’s a coupe that makes it difficult to safely buckle in your grandchild’s car seat. Talk to your agent about any car you’re considering. Insurance premiums can rise if a model is sporty, powerful and often involved in accidents—because it’s popular among young drivers. Avoid paying for their mistakes.