While many auto insurers charge older drivers more for coverage, those same insurers often offer a range of discounts that can ultimately cut into the final price tag. Some of those discounts include:
Senior driver courses:
Older drivers can prove that their eyesight and health aren't negatively impacting their driving skills if they complete one of the many defensive-driving or senior-driver courses available. Such training helps older motorists re-familiarize themselves with best driving practices. Old habits behind the wheel can get cemented over time, and senior drivers can often forget to use their signals or drive during nighttime hours when their vision is less acute.
Such courses educate participants about the dangers of such habits, how to break them, and what new habits to adopt to be safe while driving. Insurers look well on those safety measures. In many states, discounts are mandatory for drivers who complete those courses.
A defensive driving course offered through Costco provides a mandatory discount through auto insurers in dozens of states for drivers who are 55 and older.
Legislators are also keen on offering price cuts to drivers committed enough to complete a training course. House Bill 193, passed this year in Alabama and effective Aug. 1, mandates that insurers discount policies of drivers who finish crash-prevention courses lasting six hours or more. Under the legislation, drivers who complete online courses are also eligible.
At some insurance companies, a discount kicks in when the driver reaches retirement. AARP, the most well-known organization representing retirees, offers specialized discounted coverage through The Hartford.
With its focus on seniors, AARP's insurance coverage can be easier on policyholders, especially during a claims process that can often be complicated.
Since many older drivers also hold multiple lines of insurance, having life or homeowners coverage within the same company can net a policyholder a big discount when comparing car insurance quotes.
At Allstate, a customer can save 10 percent on his or her auto insurance policy when it is bundled with a homeowner's policy. There is also an Allstate Auto/Life Discount for bundling auto coverage with life insurance.