Top Ten Auto Tips for Seniors

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Top 10 Auto Insurance Tips for Seniors

from:

http://freeinsuranceadvice.com

Senior citizens living on fixed incomes need to look at the top 10 auto insurance tips before they spend more than they need to. At best, our income creeps up like an inchworm on Valium. And all around us prices are floating up like helium balloons headed for the stratosphere. It’s pretty hard for that poor little inchworm to keep up.

Food, gas, heating oil, utilities, there they go–up, up, up. And auto insurance is no exception. Sometimes it seems like the world wants you to stop driving altogether.

But there are things you can do to get cheaper auto insurance. Here are the top ten tips for cutting your insurance costs.

Top 10 Auto Insurance Tips for Seniors

1. Ask for the Senior Discount

You get them in restaurants. They give them to when you go to a movie. And many insurance companies will give you one on your car insurance. Drivers over 50 but under 70 are among the safest drivers on the road. Collect on that fact.

2. Take a “Safe Driver Course

Driver Safety Classes such as those offered by AARP and AAA can improve your driving skills and lower your insurance rates. In a majority of states, insurance companies are required to give you a discount for completing the course. Let you company know you’ve taken it.

3. Compare Rates From Several Companies

Competition is good. It gives you options. There’s a wide variance in insurance rates from different companies. Shopping around and getting quotes from several companies will get you substantial savings. And once you find the best rate, don’t just assume it will stay the best one. Studies show that getting updated quotes every six months might save you several hundred dollars a year in lower insurance rates.

4. Choose a Higher Deductible

Taking on the extra risk of a higher deductible on your insurance policy can lower your premiums significantly. Although a claim will cost you more, it’s quite possible that your lower premiums will save you more than you will likely pay in a higher deductible.

5. Avoid Installment Fees

Paying your insurance policy in full when you renew can hand you big savings. Paying in installments, whether monthly, semi-annual, etc. triggers finance charges and/or administrative fees. These can often add up to almost $100 dollars a year. Lower your insurance costs by paying in full when you renew your policy and avoiding those extra fees. You probably have a more fun way to spend a hundred bucks.

6. Ask For Discounts for Safe Vehicles

Auto insurance companies like safe cars. They cost them less. And they pass those savings on to you if you have a car with up-to-date safety features. If you’ve got antilock brakes, automatic seatbelts, airbags, anti-theft devices, let your insurance company know. You’ll likely get a lower insurance rate.

7. Drive Less to Pay Less

If you’re driving less these days—maybe because you’re retired and have put the daily commute behind you—then you deserve a lower insurance rate. Fewer miles=fewer chances for accidents. So if you’re what insurance companies call a “pleasure driver” and put what they consider low mileage on your car every year, they’ll give you a break on your rates.

8. Don’t Pay For What You Don’t Need

Check your auto insurance policy to see if you’re paying for services you don’t need or already have elsewhere. For instance, if you belong to an auto club or other organization that offers towing or roadside service, you don’t need it in your insurance policy. Look closely to see if you can cut out unnecessary double coverage, and save the difference.

9. Bundle Up. Combine Coverage for Better Rates

One of the easiest, and least known, ways to save money on insurance is to buy your auto insurance and homeowners insurance from the same company. It’s called a “multi-line” insurance policy, and companies like it because you’re bringing them more business. So they reward you with a lower combined rate. Savings can be as much as 15%.

10. Look for Good Driver Discounts

Having learned the top 10 auto insurance tips, and clean driving record, many insurance companies will give you a significant discount. And some will increase that discount each year. Some states even require companies to offer a good driver discount. Compare rates to find the insurance company that will reward you the most for your excellent driving record.

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