In addition to the usual discounts for being 55 or older and having a clean driving record, Allstate has some unique ways to save on insurance. If you are 55 and not actively seeking full-time employment, for instance, you can automatically save 10% on your auto insurance rate.
The company also offers discounts if you drive fewer miles a year than the national average, and if your car is economy size and has anti-lock brakes and an alarm system. Pay your automotive policy upfront in full each year, and you qualify for a further 10% reduction on your insurance premium.
For members of the U.S. military, it pays to sign up and stay with the United Services Automobile Association (USAA) through retirement. USAA offers great discounts and rates on automotive insurance to serving military members and veterans, including guaranteed auto insurance coverage for as long as you are able to drive, affordable roadside assistance packages and additional discounts based on a safe driving record and length of service in the military. Plus, members can take their auto insurance with them should they move outside the U.S.
The Bottom Line
Not all car insurance plans are the same or equal, particularly when it comes to insuring retirees who are 50 and over and anyone over 65. It pays to shop around and compare rates, applicable discounts and resources among top insurers to find a deal that works for you. In the end, you’ll want a policy that is affordable, keeps you insured for as long as possible and provides the necessary coverage.