Marissa Hayes is a technical editor and contributing writer. She holds a Bachelor’s Degree in history, and she was the editor of the literary magazine, The Bluestone Review.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Car Insurance Agent

UPDATED: Jul 19, 2021

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The Short of It

  • Two major providers offer a recent retirees auto insurance discount to drivers
  • To qualify, you must already be a customer of the provider at the time of your retirement
  • Expect to save an average of 4% on your annual premiums with this discount

Only two national companies offer a recent retirees auto insurance discount to drivers.

Keep reading to discover how to earn a recent retiree discount on your full coverage or basic auto insurance policy.

After learning about affordable recent retirees auto insurance discount rates, remember to enter your ZIP code into our free tool above to receive quotes from the best companies near you.

What providers offer a recent retirees auto insurance discount?

One of the rarer auto insurance discounts to ask for is the recent retiree discount.

If you’re looking for a recent retirees auto insurance discount company, there are two national providers to compare:

However, local insurers in your region might also offer recent retirees discount insurance to drivers.

Drivers save an average of 4% on their annual premiums by earning this savings opportunity.

It’s important to note that the average retirement age in America is 64, and your age, driving record, and coverage needs heavily impact your insurance costs.

Technically, auto insurance over 50 costs less than for elderly drivers nearing 80.

Therefore, to truly secure your lowest rates at any age, compare quotes from multiple providers online.

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What is a recent retirees auto insurance discount?

A recent retiree auto insurance discount rewards customers with a slight rate reduction after accomplishing the lifetime milestone of retirement.

To qualify, you must already be a customer of a participating provider at the time of your retirement.

According to the U.S. Bureau of Labor Statistics, 67% of private industry workers have access to employer-provided retirement plans.

Retirement plans are very personal, and people reach different goals at different stages of their life.

Unfortunately, while insurance rates typically decrease as you age, coverage for elderly drivers often costs as much as auto insurance for teen drivers.

Therefore, a retiree discount on auto insurance can help mitigate those higher prices.

You can also save money on auto insurance by informing your provider that you will no longer be commuting to work.

Take a defensive driving course, enroll in a telematics program, or increase your policy deductibles for even greater savings.

Recent Retirees Auto Insurance Discount: The Bottom Line

If you’re already a customer of Liberty Mutual or The Hartford and are retiring soon, ask about earning a recent retirees discount on your policy.

Otherwise, the rate reduction might not be enough to lead to substantial savings. You might earn cheaper rates by shopping around and finding new coverage.

Now that you’ve learned how to buy recent retirees discount auto insurance, compare accurate quotes from the top providers near you by entering your ZIP code into our free rate tool below.