Do Car Insurance Companies Like Insuring Drivers Over 50?

You Bet They Do!

There are actually some good things about being in your fifties. You can probably get a discount on your auto insurance. Insurance companies live and die by their statistics. It seems they have noticed that drivers in their fifties are more likely to have more mature driving styles and attitudes (read – they don’t speed and cut in and out of traffic) than younger drivers. This means there are less claims by the over 50 group and therefore the insurance company can charge a lower rate.

If you have not looked at your policy for awhile, you should ask your insurance provider if you qualify for the discounted rate. Generally discounts run from about 5% to 10%. Industry surveys have shown that many over 50 policies come with additional features such as emergency additional driver coverage and roadside breakdown discounts. Make sure you read the fine-print so you know what you are getting. As always shop around to get the best price because rates really do vary from company to company.

When you get to be over sixty, the insurance companies have found that while older drivers do not get so many tickets, they have been making more accident claims. You know how insurance company math works – More claims = higher rates. But there is a bright spot here. If you are a member of AARP, you can take an online course geared toward older drivers for defensive driving for $15.95. It takes 8 hours but you don’t have to do it all at once. The program will save your place. After taking the course you may receive a 10% discount for a three year period. You will need to check with your insurance agent beforehand to see if your policy has this option.

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Can You Afford To Retire?

According to an AARP study, 8 out of 10 baby boomers say they plan to work after they retire from their current posiiton. Some of them say they only plan to work part time, and others think that retirement will be a great time to start their own businesss. While some baby boomers are looking forward to retirement as a chance to perform rewarding work, others just understand that their savings or retirement plan will not provide enough money for the life they plan to live.

Why Work after Retirement?

So some retired people will finally have the freedom to chase a passion or hobby they may have enjoyed before. I have plenty of friends who have always dreamed of being their own boss but just did not want to take a chance while they still enjoyed a good job with steady paychecks and benefits.

But of course, other retired baby boomers will just be finding service work to keep the lights on. Many professionals like teachers and policemen will retire on 2/3 of their income. The theory that this should be enough since debts like mortgages are paid off just doesn’t always work in the modern economy. Other financial obligations like helping kids pay for college are much steeper then they were a generation ago.

Consider Freelance Work or Work At Home Business

I would like to suggest that the internet has made whole new areas of freelance work available. For instance look at SimpleWork.org for this article on Freelance Work At Home and also Ebay Work At Home. Of course, not all freelance jobs are done at home, and working alone is NOT for EVERYBODY! I have found freelancing jobs for everything from commercial drivers to child care to corporate training.

If you want to enjoy more flexibility after retirement, but still need to make a little coin, consider some of the suggestions at SimpleWork.org. Also look at top jobs for an over 50 career change!

retirement jobs, baby boomer jobs, over 50 career change, over 40 career change

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