Despite what you may have heard, aging definitely has its benefits, especially when it comes to saving money on your car insurance premium. Insurance providers begin to offer mature driver discounts to their customers usually around the age of 50. This discount is a general percentage taken off of your premium for reaching a certain age set by the provider.
Luckily, this discount comes at a time where many drivers are looking to retire or put their children through college. So wherever you are in life at 50 you’ll have the savings to keep your money and spend it how you want.
Additional Coverage Needed?
Additional coverages, such as collision or comprehensive, might no longer make financial sense if you’re driving significantly less than you used to when you worked full time. Decreasing or dropping these coverages all together will lower your premium.
What’s Your Deductible?
If you’re driving fewer miles, consider raising your deductible so that your monthly premiums become lower. It’s smart to choose the highest possible deductible that you can afford, but it’s important to figure out how much you can actually afford to pay out of pocket if you have to at a moment’s notice.
Who is the Primary Driver?
If you no longer drive yourself very often and have a relative drive for you, consider changing the primary driver on your policy. Having a younger primary driver will lower your premium.
Defense Driver Courses
Consider signing up for a defensive driver course through your insurance provider. These courses teach you crash prevention techniques and prove to your carrier that you’re serious about being a safe, responsible driver. Many carriers offer discounts to those who take this course.
It’s also important to remember that you don’t have to stay with the same insurance provider for life if you don’t think they offer the best services or customer support. Policies generally only last six months to a year, so don’t be afraid to shop around for a new policy before your coverage lapses.
Your best solution is to work with an experienced and local Venice insurance agent, who can help you find policies with multiple providers for you to choose from. This way, your finding a policy that is personalized just for you and your specific needs.
