1. The “Low Mileage” Reward (The Usage-Based Discount)
Be honest: do you drive as much as you did when you were working 9-to-5? Probably not.
If you are retired or semi-retired, your daily commute is likely gone. If you are driving fewer than 7,500 miles per year, you are technically in a different “risk class” for insurance companies. Less time on the road means less chance of an accident.
However, your insurance agent won’t automatically know you stopped commuting. You have to tell them.
Action Step: Check your odometer. If your annual mileage has dropped significantly, call your agent and ask for the “Low Mileage Discount” or inquire about “Pay-Per-Mile” programs. This single phone call can drop your rate by 15-20%.
Pages: NEXT PAGE >
