Insurance agents should know full well that consumers are always looking for a better deal on all kinds of coverage, and that certainly includes older consumers who may now be living on fixed incomes. For this reason, it might be wise for those working in the insurance industry to keep in mind what older drivers might value most when it comes to cutting costs on their auto insurance specifically.
When policyholders call and ask if they can have their car insurance rates reduced, one of the first things agents may be able to offer are discounts for those aged 55 years old or more, or consumers who are now in retirement, according to a report from Daily Markets. These often are not especially sizable, but can certainly provide incentive for older drivers to inquire after them. Along similar lines, many organizations, such as the AARP, offer additional discounts for seniors in many parts of the country if they take courses which can help to make them safer vehicle operators, such as those for defensive driving. As these will vary by state, insurance agents will certainly need to be aware of how their clients might find qualifying courses. In addition, some policyholders might ask about “mature driver” discounts, which can be applied not only to those in retirement, but any age considered safer than average.
What else might they want?
One of the biggest expenses that people face in their daily lives is the cost of gasoline and vehicle maintenance, but when they retire, those typically go down appreciably simply because they do not have to commute to work any more. As such, many older Americans may qualify for mileage discounts as a result of just how little they drive, the report said. Knowing about exactly how much these people will have to drive to qualify, and how they will prove their claims, can also be an extremely beneficial to those looking to save a bit of money on their auto insurance every month.
Insurance agents should also keep in mind that the increased competition in the market is likely going to lead to more people shopping around for coverage. Thus, doing all in their power to make sure that consumers fully understand the benefits available to them on their current policies, and being flexible in helping them seek out ways to reduce costs may go a long way toward keeping business and ensuring customer satisfaction.