Reaching your senior years is a proud achievement for many Americans. Many seniors worry that they will not be able to afford the life they were used to while working. Those living on restricted income (such as Social Security) may feel the need to tighten their wallets. Fortunately, there are several ways that seniors can reduce their expenses and find discounts simply for their age.
A senior is anyone who is age 55 or older. Although the general retirement age is 66, Americans aged 55 and older can experience the benefits of retirement in communities around the country and enjoy dozens of discounts on food, travel and other things. Continue reading to learn more about senior discounts.
Auto insurance discounts for seniors are some of the most popular types of discounts out there. Many companies offer these discounts to drivers over the age of 55. These discounts are essential, since auto insurance rates tend to be higher for drivers who are in their 60s or older. Usually, auto insurance companies include seniors in a group known as “mature drivers.” This group includes anyone over the age of 50.
One way to get a senior auto insurance discount is to join the American Association of Retired Persons, more commonly known as AARP. Many companies provide a discount with proof of membership in the group. AARP also has resources to help you compare senior auto rates and ensure the policy you choose carries the right level of coverage.
Although you must typically meet certain requirements to get a senior car insurance discount, they are not very strict. One way to get a senior car insurance discount is to enroll in safe driver classes. Some companies, such as Geico, will also offer senior discounts to those with a clean driving record.
Geico also offers the Five-Year Good Driving Discount, which rewards seniors who drive safely with a great rate. Similarly, the company also offers GEICO PrimeTime to drivers older than age 50. This program guarantees renewal of your insurance policy as long as you meet certain safe driving requirements.
You may not want to switch insurance companies. If this is the case, you can check with your current company to see if it has discounts in place for seniors.
Read on to the next slide to learn about senior travel discounts, another popular type of discount.