The 5 most golden senior car insurance discounts

The 'just because' discount
The 'just because' discount © iStock

The 'just because' discount

Many car insurance companies offer a general senior discount that will reduce your premium by a certain percentage just because you've reached a specific age, which can vary from one insurer to another. The name of the discount also differs, depending on the company.

"Generally, they do that because more mature drivers are better drivers," says Robert Passmore, an assistant vice president with the Property Casualty Insurance Association of America. "They have better driving records. They are more desirable customers because they are a good risk and don't drive as much anymore."

For example, Allstate provides a "senior adult discount" of up to 10 percent to drivers who are at least 55 years old and aren't actively looking for full-time work. Liberty Mutual advertises that it offers a "newly retired discount" to drivers who reach that employment milestone, regardless of age.


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