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Recent Retirees Car Insurance Discount

Enter your zip code below to view companies that have cheap auto insurance rates.

Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Mar 2, 2021

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Key Takeaways

  • A recent retirees car insurance discount offers savings to those who are retired
  • Discounts for retired individuals don’t seem to be a common offering amongst the top insurance companies, but you may have other options
  • Older individuals and seniors may be able to save on their car insurance premiums by seeking out a senior discount or taking a defensive driving class

If you’re retired, you may be searching for cheap car insurance that matches your new budget. Retired individuals may be able to find a car insurance company that offers a recent retirees car insurance discount.

Below, we’ll discuss this discount, how to qualify, where you can find it, and other savings options.

Before learning more about the recent retirees car insurance discount, enter your ZIP code into our free quote comparison tool above to compare car insurance quotes from companies in your area.

What is a recent retirees car insurance discount?

A recent retirees car insurance discount is a type of discount given to individuals who are retired. Some car insurance companies may also require that you are a certain age.

Recent retirees discounts don’t seem to be a standard discount given by all insurance companies, but there are many ways for retired individuals and seniors to save money on their car insurance.

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What age does car insurance go down?

If you’re wondering, “At what age does insurance go down?,” with the hopes that your premiums will automatically decrease as you get older, you would only be partially correct. Let’s look at average annual full coverage car insurance rates by age:

Average Annual Full Coverage Car Insurance Rates by Age and Gender
AgeAverage Annual Full Coverage Rates (Female)Average Annual Full Coverage Rates (Male)
16$6,055$6,858
17$4,871$5,562
18$4,206$4,859
19$3,087$3,567
20$2,769$3,195
21$2,298$2,609
22$2,152$2,378
23$2,005$2,202
24$1,896$2,068
25$1,719$1,801
30$1,588$1,581
35$1,573$1,556
40$1,544$1,529
45$1,528$1,516
50$1,451$1,445
55$1,421$1,419
60$1,414$1,415
65$1,452$1,463
70$1,527$1,546
75$1,666$1,736
80$1,831$1,957
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As you can see in the table above, your rates may begin to decrease throughout your adult life, but once you hit a certain age, around 65, you may start to wonder, Why did my car insurance rates increase?

However, there are many ways for retired individuals and seniors to reduce their car insurance rates. Along with retired insurance or recent retirees car insurance discounts, you may also be able to seek out senior discounts or others that you may qualify for.

Which companies offer a recent retirees car insurance discount?

Most insurance companies will offer senior discounts, but not all of them offer the recent retirees car insurance discount. Notably, Allstate has a “55 and retired” discount.

Regardless of which company insures your vehicles, you should contact either the company or your insurance agent to tell them about your retirement. Your premiums could decrease without a discount due to the fact that you’ll likely be driving less.

Depending on your age, you may also want to consider seeking out senior discounts or taking a defensive driving class to receive a defensive driver discount.

If you need help finding affordable car insurance for retirement, enter your ZIP code into our free quote comparison tool below. Always do your research before you buy car insurance.

Free Auto Insurance Comparison

Enter your zip code below to view companies that have cheap auto insurance rates.

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