How to save money on car insurance for veterans
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Do you have veterans or older family members and friends who live active lifestyles? If that’s the case, you know how challenging it can be to want to support them while keeping them safe. In such cases, often, the best thing to do is to keep yourself informed of what you can do.
Here, you’ll learn how older individuals can save money on car insurance, especially if they live in the US. Then, you can pass the information along to help them keep some cash in their pocket each month, at least as far as the auto insurance bill is concerned.
Shop Around and Get Multiple Quotes
One way for veterans to save money on car insurance is to shop around and get multiple quotes. Once people obtain those figures, they can look them over and decide which one meets their budgetary requirements. However, it probably isn’t a good idea to pick an insurance company on price alone, as that could lead to you having a bad experience. Hence, before signing on the dotted line, be sure to research insurers. Start by seeing what others are saying about a reputable business with USAA auto insurance reviews.
Of course, you should look into other companies too. Some of the top candidates you might want to add to your list include Geico, Progressive, and Nationwide. Search online for customer testimonials to get an idea of what it is they bring to the table. These tactics should land you with an affordable policy from a reputable insurance provider.
Ask About Discounts
Your veteran family members and friends could also be affiliated with particular clubs or organisations and see savings come their way. Insurance discounts come in many shapes and sizes. Just ask your insurer to see what discounts they have available. Clients often receive discounts for being:
- Military veterans
- Senior citizens
- Safe drivers
Of course, there are other means by which policyholders can save too. For example, a car owner can catch a break on the cost of car insurance by paying for their policy in full.
Pay-per-Mile Insurance
Does the older person in your life not drive their car very often? For example, do they only take the car out once or twice each month to go to the doctor, pharmacy, and grocery stores? If that’s the case, a pay-per-mile policy could be perfect for them.
As the name implies, insurance companies charge policyholders by the mile for this coverage. The savings people receive with this solution vary. However, research shows that an average Metromile policyholder, who drives approximately 6,000 miles annually, can save about $741 each year with a pay-per-mile policy.
Enrol In and Complete a Defensive Driving Course
Many insurance providers have defensive driving programs. When people take and pass the courses, they are rewarded with savings. The amount a veteran or anyone else will receive off their rate will vary, depending on who their insurance company is. Still, research shows that defensive driving discounts hover at right around 10 percent more often than not.
Not all insurance companies give discounts for completing defensive driving courses, though. Thus, make it a point to talk to the insurance provider if they offer discounts for car owners who complete such courses. Unless they just want to become safer drivers, the last thing the person is probably going to want to do is complete a defensive driving course if the venture won’t save them money on their car insurance.
Choose a Vehicle Wisely
When seniors buy vehicles, they need to be wary of the car models they ultimately purchase. That’s because some cars are cheaper to insure than others. For instance, one study reveals that the cheapest vehicle to get coverage for is a Honda CR-V LX. A person who owns such a vehicle should expect to spend $1,574 on their average annual premium. Meanwhile, a Jeep Wrangler JL Sport policy has a yearly premium of only $1,585.
However, some other cars can be pretty pricey to insure. Insurance for a Tesla Model S Performance, for example, will run a motorist $3,960 annually. And coverage for a Lexus ES 300H can cost as much as $2,485 per year. So, be sure that the veterans and seniors in your life know to speak with their insurance provider about how much insurance will cost before purchasing a new vehicle.
Some Last Words
Often, veterans and the elderly are on fixed incomes. Thus, they must find ways to save money where and when they can. That helps them stretch a dollar and pay all their bills. Plus, they might even have a little cash left over each month. So, use these tips to help the older people in your life save on auto insurance costs.
Photo by Dan Gold on Unsplash
