As Senior Citizens in our country are feeling pressured to reduce costs as much as possible to be able to survive on their fixed income, the American Association of Retired Persons (AARP) is the leader in helping to restore financial security to seniors by offering low-cost options for auto insurance to its members.
AARP offers both Auto and Homeowners insurance, provided by The Hartford, to their members. Membership in AARP is costs a maximum of $12.50 per year, less if you enroll for more than one year at a time, and the only requirement is that members must be 50 years of age or older.
Seniors will find that the premium rates through AARP Auto Insurance are lower than through other insurance carriers, because the policies are only offered to seniors, and rates are not affected by other age groups who drive more frequently or are less experienced drivers and therefore would result in more claims which would increase the premium rates for everyone insured.
AARP offers many benefits in their auto insurance policies that simply are not available with typical plans. Some of the advantages that seniors will receive by insuring through AARP are outlined below:
12 Month Fixed Premium Rate
Most insurance policies are premium rated on a 6 month basis, meaning the cost of your insurance has the potential to increase every 6 months. AARP’s policies are rated for a full year, giving seniors the advantage of being able to budget their income more effectively, knowing they have an additional 6 months per year of fixed cost on auto insurance.
Annual Deductible Reduction
With a continued good driving record, AARP will reduce the deductible on seniors’ auto insurance by $150, and then by $50 per year thereafter, without causing premium rate increase, until their deductible is $0.
Forgiveness of First Accident
With a clean driving record for previous 5 years, seniors will be secure in knowing that if they are in an accident, on the first occasion, their premium rate will not increase.
New Car Value Protection
If a senior purchases a new car, insures it through AARP, and is involved in an accident in the first 15 months or 15,000 miles resulting in a total loss of the vehicle, AARP will replace the vehicle with a brand new vehicle, identical to the one lost, with all the same features and options, with no depreciation.
These value advantages is what makes AARP the right choice for seniors needing auto insurance.
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2 comments:
Thanks for your article. It's good to know as much as possible about auto insurance . It can be tricky sometimes, so the more info the better!
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