The best car insurance companies in New Mexico in terms of average pricing, reviews, and financial stability are State Farm, Nationwide, MetLife, Geico, and USAA. Out of these 5 companies, only Geico and Nationwide offer a defensive driving discount that is specifically tailored for senior citizens. You can contact your local agent or the company's customer support team for details on how to qualify for a discount.
Yes, seniors can get a discount on car insurance. Senior citizen auto insurance discounts of 5% to 15% are available for drivers aged 50-65+ who belong to affiliated groups, take approved driver education courses, or drive fewer miles. Major insurers do not offer discounts simply for reaching a certain age, however.… read full answer
Age is a factor in your insurance premium in every state except California, Massachusetts and Hawaii. And even these states allow insurers to consider years of driving experience. As a result, most drivers will see their insurance rates begin to rise between the ages of 65 and 75, and certain states make senior drivers renew their licenses more frequently around this time.
Since the cost and risks associated with car insurance can increase for seniors as they age, insurance companies such as Geico and The Hartford offer specialty insurance plans for older drivers. These policies offer discounted pricing as well as tailored benefits. If you’re looking to buy auto insurance as a senior, it’s best to consider the price of these programs alongside the value of their senior-oriented perks.
Auto Insurance Programs Designed for Seniors
The Hartford’s AARP Auto Insurance Program: To qualify, you must be an AARP member and at least 50 years old. AARP Insurance is discounted for seniors and offers special benefits like help with household chores if you’re injured in a car accident.
Geico’s Prime Time Program: To qualify, you must be 50 and older, with no accidents or violations for the past three years and no listed drivers under 25, and you cannot drive for business reasons. Policyholders are guaranteed renewal in some states.
Retirement Benefits: Retired federal employees or members of the military can save with Geico, as can members of more than 800 affiliated professional and alumni groups. AARP members can also receive a 20% discount on Allstate’s roadside assistance coverage, even if they use a different insurer for their main policy.
Senior Citizen Auto Insurance Discounts for Mature Driver Courses
Depending on the state and insurance carrier, seniors may be able to save by taking a mature driver course. These classes are like advanced versions of drivers education and are specially designed for older drivers. Depending on your state, you may be eligible starting at 50, 55, or 65 years old.
It’s important to remember that seniors can take advantage of other car insurance discounts, too. For example, seniors who are not using a car to commute might qualify for a low-mileage discount. And regardless of age, it’s always smart to comparison shop by checking quotes from multiple insurers.
Government-mandated auto insurance discounts for seniors are discounts required by 34 states and Washington, D.C. for senior drivers who pass an approved mature driver safety course. The minimum age for a government-mandated insurance discount varies by state, ranging from 50 to 65 years old.
1. Ask your insurance company about their policies in your state
Even if a discount isn’t required in your location, some insurers still provide them to encourage their customers to improve their driving techniques.
2. Find an approved course
AAA, AARP, and the National Safety Council are three of the many organizations that provide mature driver safety courses, and members can take the class for a discounted cost. Certain insurance companies also have affiliated courses.
3. Check whether the course needs to be online or in-person
Some states only require the discount for seniors who take an in-person class, although most allow the class to be taken online. Due to the coronavirus pandemic, however, AAA has cancelled in-person courses until further notice and AARP has cancelled them through at least 2021, so ask your insurer for up-to-date rules.
4. Register and take the class
Courses generally take between four and eight hours, and must be completed within a set timeframe after registering, often a month.
5. Submit proof of completion
Depending on the course and insurance carrier, a certificate might be sent to your insurance company automatically, or you might have to email or mail it yourself.
Mature driver courses are generally inexpensive compared to the long-term insurance savings they can unlock. While prices vary widely, online courses often range from $10 to $30, and you’ll save anywhere from 3% to 20% on your insurance every year with the discount, usually for three years. After three years, you can simply renew your discount by taking a course again. Some organizations even offer shorter courses if you’ve already taken one class and only need a refresher.
If your state and insurance company do not offer senior discounts for driving courses, you might be eligible for other discounts unrelated to your age, such as a good driver discount or a low mileage discount. And regardless of the discount, a mature driver course is always a good idea if you want to become safer behind the wheel.
Car insurance goes down by 15% for male drivers at age 25 and even goes down every year until age 25. Once men are in their mid-twenties, rates begin to decrease more gradually and plateau through middle age. Premiums won’t start going up again until men are about 65 to 75 years old. Seniors, like young adults, have a higher level of risk for accidents and pay more for insurance.… read full answer
Male and female drivers both tend to see rates change according to age on this schedule, but men under the age of 25 usually pay more for insurance than their female counterparts. In California, Hawaii and Massachusetts, however, neither men nor women will see rates change based on age. These states don’t allow insurers to use age as a factor for setting rates.
The following chart reflects rates for single male drivers in 10 zip codes for each state, with full coverage on a 2017 Honda Accord.
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