Can Older Adults Get a Discount on Auto Insurance?

Published on Nov 18, 2013 06:58 am

Auto insurance companies generally price insurance premiums based on the risk they think the person they’re insuring presents, among other factors. If in the company’s opinion, based on statistics, you’re more likely to get in an accident than the average driver, you’ll probably pay a higher-than-average premium compared to other policy holders.

Age-Based Premiums

According to the online auto-buying resource CarsDirect, once drivers hit the age of 60, some insurance companies start to reward these drivers with lower rates, while others hike their premiums. Sometimes, there can also be additional car insurance discounts that adults and seniors can earn. Each company is different, so it’s best to do your own research to determine what car insurance policy might be best for you.

Responsible Behavior

Other factors also qualify you for discounts. For instance, insurers usually check your driving record. If you’re able to avoid automobile accidents and marks on your driving record as you age, your premium could go down. If you have multiple responsible drivers on your policy, your policy holder may also offer you a discount. It’s still best to shop around and compare rates among competitors to make sure the discounts truly save you money on your policy.

Policy Perks

Some insurance companies offer policy discounts if you have you have other assets under your auto policy as well. For example, using the same insurer for both your auto and your home could also net you a discount, although you can also do this when you’re young. If you have a boat or recreation vehicles, you might also get discounts for having them insured by the same company. Lastly, many companies offer loyalty perks based on the longevity of your policy. Check with your personal policy provider to see if any of these discounts could apply to you.

Defensive Driving Classes

Some auto insurers also offer discounts for older Americans who take a defensive driving course. These courses are designed to help you refresh your skills at watching what is going on around you and adjusting your driving to meet those conditions. Since these courses can make you a safer driver and reduce your risk of getting in an accident, taking one can reduce your premiums.

Whether you’re 25 or 65, checking to make sure you’re getting the best rates from your auto insurance policy is a great way to make sure you’re keeping track of your personal budget.


About the Author
Solomon Poretsky has been a writer since 1996, with experience in the fields of financial services, real estate and technology. Poretsky holds a Bachelor of Arts in political science from Columbia University.


This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

Published by permission from, Inc.  © 2013, Inc.  All rights reserved.


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