There are actually some good things about being in your fifties. You can probably get a discount on your auto insurance. Insurance companies live and die by their statistics. It seems they have noticed that drivers in their fifties are more likely to have more mature driving styles and attitudes (read – they don’t speed and cut in and out of traffic) than younger drivers. This means there are less claims by the over 50 group and therefore the insurance company can charge a lower rate. In other words, your insurer appreciates your maturity!
If you have not looked at your policy for awhile, you should ask your insurance provider if you qualify for the discounted rate. Generally discounts run from about 5% to 10%. Industry surveys have shown that many over 50 policies come with additional features such as emergency additional driver coverage and roadside breakdown discounts. Make sure you read the fine-print so you know what you are getting. As always shop around to get the best price because rates really do vary from company to company.
When you get to be over sixty, the insurance companies have found that while older drivers do not get so many tickets, they have been making more accident claims. You know how insurance company math works – More claims = higher rates. But there is a bright spot here. If you are a member of AARP, you can take an online course geared toward older drivers for defensive driving for $15.95. It takes 8 hours but you don’t have to do it all at once. The program will save your place. After taking the course you may receive a 10% discount for a three year period. You will need to check with your insurance agent beforehand to see if your policy has this option.
If you feel that your rates are too high, many people have found that it pays to shop around. Many companies advertise discounts for baby boomers, and when discounts for belonging to a safer class of driver by age, plus being a good driver yourself are added up, you could save hundreds of dollars every year.