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Saving money is one of the most important things you can do as a driver. Unfortunately, it’s not always easy to find ways to cut back on your costs, but it can be done with a little bit of research and effort. If you’re over 50 years old, there are some ways to save money on car insurance that is specific to your age group. These tips might not work for everyone, but they may help you save a few bucks here and there. Here’s what you need to know about how to save money on car insurance when you’re over 50 years old.
Drive A Low-Risk Car
The car you drive is a major factor in determining how much your insurance will cost. If you’re over 50, it might be time to trade in that sports car for something a little safer. You could save hundreds of dollars per year on your insurance if you downsize to a low-risk car.
Find The Right Provider
It is important to find a provider that offers you the best rates and coverage. Unfortunately, many providers are out there, so it can be challenging to choose one. The easiest way to find the right provider is by choosing a provider specializing in car insurance for people over 50, like The Hartford car insurance. You only need to provide information about your car and driving record, which means it won’t take long at all before you get your quote. If you’re looking for car insurance that can save you money as someone over 50, check out The Hartford car insurance today.
Reduce Your Mileage
One of the best ways to lower your car insurance rates is by reducing your mileage. If you can cut back on your driving and go to work, school, and other locations by walking or taking public transportation, you’ll reduce the number of miles you drive. A high level of yearly mileage will cause your car insurance rates to increase, so taking steps to reduce your mileage will save you money in the long run.
Increase Voluntary Excess
One way to save money on car insurance when you’re over 50 years old is to increase your voluntary excess. This will reduce your premium as insurers always prefer a higher voluntary excess. The simple rule of thumb is that the more you are willing to pay out-of-pocket for damages; the lower your premium. To make this work, you need to have enough money in savings to cover the amount of your voluntary excess if you need to claim.
Improve Car Security
The first thing you can do if you’re over 50 is to improve your car’s security. This includes things like installing a car alarm, improving the lock on your car doors, and even installing tracking devices. All of these efforts will prevent theft or break-ins, which will likely lower your insurance premiums. Additionally, storing your car in a safe place at work and overnight will contribute to lower premiums; you could store your car in a garage at home or use a secure parking lot with cameras.