5 Reasons Why Seniors Should Compare Auto Insurance Every Year

by | Aug 4, 2023

We all need car insurance. The pesky thing is finding the right auto insurance policy to give you the protection you need without breaking the bank.

Once you’ve found a car insurance policy you like, it can be easy to just let the policy to renew every six months.

However, if you’re a senior, you could save yourself money by comparing auto insurance rates at least once a year. With a little bit of work once a year, the savings can add up quickly.

Keep reading to find out the five reasons why you should regularly be comparing car insurance.

Insurance Companies Offer Discounts for New Customers

Auto insurance is a competitive industry, which often leads to companies offering deals if you switch to their policies. If you’re not completely committed to your car insurance company, you should shop around at new companies at least once a year.

Between the cheaper rates and special bonuses, signing on as a new customer could save you hundreds of dollars a year.

Rates are Constantly Changing

Even if you aren’t interested in changing insurance companies, the rates within your current company can fluctuate as often as once a month. By checking what new offerings your company has, instead of just renewing your current plan automatically, you could save yourself money.

Keep an eye out for changes in your states rates and act immediately if you’re given a rate increase. However, if you have time, shop around when you know rates are typically lower, like in the summer.

The Value of Your Car Decreases

When you drive your shiny new car off the dealership lot, you’re obviously going to want the best coverage possible for the vehicle. After all, it takes a lot of money to replace a brand new car.

However, with age, the value of your car is going to significantly decrease. Your auto insurance should match this decrease in value. Every year, you should be reexamining the current value of your car and checking that your collision and comprehensive coverage costs match the new value.

The less your car is worth, the less you should be paying.

Your Lifestyle Has Changed

Auto insurance agencies go through a lot of data to determine what your insurance will cost you. That’s why even the smallest changes could cause your rates to decrease.

Got married? Rates decrease.

Moved to an area with less crime? Rates decrease.

Working less? Rates decrease.

Even better, if you’ve recently taken a teenager off your insurance, your rates will assuredly go down.

If you’ve recently gone through a lifestyle change in the past year or so, check in with your auto insurance agency and see if you qualify for a discount.

You’re a More Appealing Driver

There are two huge things car insurance companies look at when determining your rates: Driving History and Credit Score.

Dings on either your driving history or your credit score could result in higher car insurance premiums for you.

The good news is you don’t have to pay these higher rates indefinitely. If you’ve had tickets in the past, keep track of when they’ll fall off your record, because once they do your insurance rates could go down.

Also, keep up with your credit score. While auto insurance agencies are notorious for looking at very specific aspects of a credit report, the overall rule is better credit scores equal better rates. If you’ve been making your payments in a more timely manner or paid off any debts in the past year, check to see if you qualify for a lower auto insurance policy.


Buying car insurance is a necessary nuisance. If you’re looking to save money on your yearly auto insurance costs, make sure to compare rates every year. With a little time and research, you could find ways to save hundreds of dollars while still staying protected on the road.


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