Save on Auto and Home Insurance if You are Older

If you are nearing, or are already at, retirement age, you may not have the disposable income that you used to have. You may be living off social security or your retirement income, or you might be trying to set aside as much money as you can so you can have a comfortable retirement. Some of your bills might be going up, like life insurance and drug costs. Although finances for seniors may be limited, they may be eligible for discounts on their car and home insurance. Check to find out if you can get these savings.

Incentives for Auto Safety Class

If you are a mature driver, your auto insurance premium might benefit from taking an auto safety class. You can often save five percent or more by taking this class, which gives you a basic refresher on automobile safety, as well as age-related safety information like how your medication can affect driving, how to adjust for age related physical changes, and how to monitor your driving skills. You can take this course in a classroom, or online. The American Association of Retired People (AARP) offers this course, as well as some states.

Discounts for Your Changing Driving Habits

When you retire or go into semi-retirement, you probably drive fewer hours than when you commuted to work every day. Contact your insurer to let them know that you're not driving the same amount of hours. While you are calling your insurance company, you might want to check with them to see if they offer savings for car safety equipment like anti-theft devices and car tracking systems. Now might also be a good time to compare rates at different providers. Some insurers raise the price of premiums for older drivers when they reach a certain age.

Retirement Discounts on your Home

If you are a mature home owner that is retired or has reduced your working hours to a part-time basis, you might be able to take advantage of discounts that many homeowner's insurance companies offer. Call your provider to find out if they offer a discount, and how much the incentive is. While you are contacting your company, check to see if they offer savings for deadbolts locks, smoke detectors, automatic sprinkler systems, and other safety devices that you might have in your home. Think about using the same provider for your auto, home, and life insurance policies. Many insurers offer deals when you insure multiple items with them.

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