For the average senior citizen, car insurance can represent a rather large portion of your annual household budget. It makes sense to keep an eye on what you are paying out. Here is some advice to help you get the most bang for your buck when it comes to car insurance.
Report your change in mileage If you are now retired with adult children, chances are you are in your car an awful lot less. This can keep your insurance costs down. Make sure you let your insurance company know about your adjusted mileage.
Drive carefully This one may seem obvious, but having claim-free insurance is one of the simplest and best ways to save yourself some money.
Mature driver discounts Many insurance companies, offer special rates to mature drivers, this is because seniors are considered to be some of the safest and most responsible drivers on the road. Some companies offer a saving of up to 5% with these discounts.
Bring your car in for regular services Making sure your car is kept in good condition is vital if you want your insurance company to pay for any repairs that may crop up. Insurance companies won't pay more in repairs than what the car is worth.
Take a defensive driver course. Many insurers offer a special discount on your premium for drivers who complete state-approved defensive driver courses, where applicable.
Quite often older drivers may stop driving then a few years later want to hit the roads again. If you don't drive for more than two years this can lead to you losing your no-claims discount. Also, starting to drive again after a long break can be tricky, so we'd advise that you slowly build up your hours on the road again or take some refresher driving lessons.