Mature, Retired, or Senior Citizen Car Insurance Discount

A senior citizen discount is one that your car insurance carrier offers based on your age. While the exact age requirement can differ from state to state and carrier to carrier, you usually have to be 55 years or older to take advantage of these discounts.

As you get older, you may qualify for special car insurance discounts at a number of different places. However, many who are older and/or retired don’t realize they can get special discounts on their car insurance.

In most cases, you’ll need to have reached at least age 55, although the exact age is dependent on the insurance company. With certain senior discounts, you may also have to pass a driving safety course to receive the benefit.

You may have already benefited from certain car insurance discounts over the years, including discounts for good driving habits or for bundling different policies together. In most cases, getting such a discount is as simple as contacting your insurance company and requesting it.

While typically referred to as a senior driver discount, these discounts sometimes include mature driver discounts, retired driver discounts or older driver discounts.

Here at Freeway Insurance, we offer the kinds of discounts to help you save money each and every month. So keep reading to learn how you can start saving and find affordable rates today.

While it varies from carrier to carrier, a senior driver discount usually helps you save between 5% to 15% off your monthly premium. And you can save even more money by pursuing other discounts through your insurance carrier.

For example, you can save money by bundling your car insurance and your spouse’s car insurance through the same carrier (multi-car discount). Similarly, you can save money by getting your car insurance and your homeowner insurance through the same carrier. Finally, if you have a solid driving record, you should definitely ask your insurance carrier about the good driving discount.

As you get older, you may experience a rollercoaster when it comes to your car insurance premium.

For example, starting around the age of 54, you are likely to pay less for car insurance than ever before. When you see your monthly premiums, you might think that you don’t really need to seek out any special discounts.

However, your car insurance premium is going to increase once you turn 64. It will significantly increase once you turn 80 too. Pursuing a discount as soon as possible can help you get a jumpstart on affordable rates for car insurance savings while also helping you put back more money to enjoy your retirement years.

While the exact procedure can be different for different carriers and different states, you must typically pass a driving safety exam in order to get a senior insurance discount. These exams are usually more specialized versions of the standard defensive driving course.

Incidentally, you don’t necessarily have to wait until you turn 55 to start saving. Anyone who completes a driving safety course is eligible for savings from their insurance carrier. However, taking the more specialized exam once you are old enough can qualify you for the special senior discount on your monthly insurance premium.

Best of all, these driving safety courses are typically available online. That means you don’t have to go down to the DMV and can actually qualify for these savings without having to leave the house.