On your list of things to do after retirement, fishing or vacationing might be at the top. One of the last things that you might have thought about adding to your retirement list is contacting your car insurance provider, but the truth is, you could benefit from doing so. These are three signs that you should talk to your auto insurance company about this life change.
1. You’ll Be Driving Less
Now that you have retired, there’s a chance that you will be driving less. If you took public transportation to and from work when you were employed, you probably won’t see a difference. If you once had a long commute, however, you may qualify for a car insurance discount now that you aren’t driving as many miles each day. In fact, if you aren’t going to be driving much at all now that you don’t have to go to work anymore, you may want to switch to a plan that bases your rates off of your mileage. More and more providers are beginning to offer this option, which is tracked by a device that is installed in your car. Regardless, calling your insurance agent and discussing the changes in the miles that you will be driving each year could help you qualify for a discount.
2. You’re Now an Empty-Nester
If your college-age children have moved out of your house, you might qualify for a huge discount. Now that your adult children probably aren’t driving your cars, they could be removed from your policy. Since younger drivers can cause rates to soar, this can save you a lot of money. Even if you don’t want to fully remove your children from your policy — such as if they may drive your cars when home on spring or summer break — you may be able to qualify for a discount if your young adult children are away from home and won’t be driving your vehicles on a regular basis.
3. You’ve Hit the Retirement Age
Some insurance agencies offer discounts for those who have reached retirement age, so there’s a chance that you could qualify for a discount, unless you retired young. You may have also recently joined a senior citizen’s organization, which might also qualify you for a discount. It never hurts to call your insurance agent to find out.
Now that you’ve retired, it’s worth your while to take a few minutes to call your insurance agent. Then, you can save money on your insurance, which can give you more cash for all of those traveling plans that you might have in mind! For more information, contact an auto insurance company like NFP, P & C, Inc.