Tuesday, September 11, 2012

How to Save Money on Car Insurance When You Retire

Day 209 - West Midlands Police - Uninsured veh...
 (Photo credit: West Midlands Police)

When going to work or driving the kids to school you can really put a lot of miles on your car. Also running errands to the mall and grocery store add to those miles. But what happens when you are in your retirement years when none of that occurs anymore? When lifestyle changes occur in your life it's best to have your car insurance policy reevaluated to see if you can save some money. 

When you call or meet with your car insurance agent you need to ask if there are ways to lower your monthly payment. The amount of driving you do has changed, you drive less so it makes sense that you should pay less. When discussing your policy be sure to ask a lot of questions. I have listed a few topics to consider. 

Driving less every month.
Not driving to work and family commitments can really reduce the mileage driven. Keep a log and record the mileage when you make trips to the store and other errands. You will find that there is a drastic reduction in miles driven. Bring the log to your agent and show them the miles you drive, I am sure it will get you a reduction in your payment.

Offer to take driving courses.
Some car insurance companies have or can tell you about safe driving course for the older driver. These course for people over 55 years old are similar to drivers education courses that are taught in high school for teenagers. Many car insurers offer generous discounts when you have taken a course. Some states even require insurers to give you discounts when you complete a course. 

These courses can be had for as little as $25. They can be taken in a classroom or online. The American Automobile Association (AAA) has information about these courses and can be contacted via phone or email. 

Cut down to just one car.
When everyone has to go their separate ways to work or shopping; it pays to have multiple cars. But when there is no need to do a lot of driving it makes sense to cut back to one car. If it's just you and your spouse and you mostly go everywhere together, why two cars. Get rid of the older car and save some money. Not paying insurance and maintenance on a the car save you a lot of money over time. Read more


  1. What you said is actually true. My dad just retired and the first few weeks was hard for him financially, especially because he loves driving around. I showed him your article and he's really happy right now.

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  3. After the retirement we drive less so it should be less to pay for the car insurance policy. The most important thing you mentioned is that talk to the insurance broker for discounts and ask questions. Less driving and cut back to one car will definitely help in saving some money in car insurance policy after retirement.These are very good tips for old persons who are paying more on car insurance.

  4. Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work. bicycle clubs atlanta georgia


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