3 Tips For Seniors to Save Big on Car Insurance in 2020
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Seniors are looking for new ways to cut costs in 2020. One place most forget to look…their car insurance. To maximize your savings, check out our top 3 tips for seniors to save big 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
According to the Federal Highway Administration, seniors drive an average of 49% less than someone in their 30’s! And that was before 2020! Imagine how much less it is now… If you have recently retired or find yourself driving less than you were previously, you could be missing out on some significant savings.
But comparing rates is key. When seniors visit this Free Rate Comparison Tool, the industry leader in unbiased auto insurance comparisons, they get an expert view on the best rates from top auto insurance companies that include all new rules implemented by the government.
A recent study conducted by NerdWallet, another consumer finance site, found that the average American household can save $859/yr off their car insurance premiums by comparing rates.* That’s huge. What would you do with an extra $859 dollars?
The bottom line is – You should NEVER buy car insurance without comparing rates of companies that follow up-to-date insurance rules and regulations.
Being experts in comparisons, we tested this service and after entering our zip code and answering a few questions, we were delighted with the result, see below –
OLD RATE – $897
NEW RATE – $378
Here’s How You Do It:
Click your state on the map to get your rate for free
Once you enter your zip code and go through a few questions, you will have the opportunity to check for the best carrier quotes.
Select Your State
2. New Rules & New Discounts… Oh My!
“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.”
Most seniors don’t know that they can qualify for special discounts on auto insurance if they meet certain criteria.
The thing is, most seniors renew their insurance policies for six months or a year without reevaluating coverage or pricing. A lot can happen over the year(s) that changes the way your rates are set. Some examples of events that could lower your rate:
- You’ve gone three years or more without an accident
- 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 are planning to move (different states often have different rates)
- You are a member affinity group or association
- You removed one of your children as a driver from your policy
- You now own multiple cars
- Many more…
If you’ve had the same insurance for years, you could be missing out on big discounts. It may be time for a review.
To calculate your new premium and see how much you could be saving enter your zip code below and get started >>
3. Seniors: Good Credit Score Can Mean Savings
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?*
The fact is, in many 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 can be significant.
According to Consumer Reports, “…drivers who had merely good scores paid $68 to $526 more per year, on average, than similar drivers with the best scores…”*
If you are have a good credit score, there’s a chance you could be overpaying for auto insurance.
To find out more, click your best estimate of your credit and get started >>
Conclusion: It Pays to Compare
When car insurance companies compete, seniors save & win!
Many seniors believe it is a massive hassle to compare auto insurance policies, which may have been true years ago. But online service have definitely made things easier. You can get real quotes delivered right to you by computer (or phone if you wish) – no in-person visits required.
And, for some, there may be big benefits to switching insurance providers. According to Bankrate.com, 70% of American consumers have been with the same insurance company for an average of 4 or more years and in that same time, they could have realized over $3,436 plus savings.*
Find out if you are in this group by compayring rates now, enter your zip code to get started >>