Portrait Of Smiling Senior Couple Out For Drive In Car

No matter how old you are, saving money is always important. But, if you are retired or trying to build up your retirement savings, it can be especially important to find the best deals. Car insurance is a fact of life, but what are the best car insurance companies for seniors?

Let’s take a look at how rates work for seniors, if there is one best company and how you can save money no matter what insurance company you use.

Car Insurance Rates for Seniors

It’s no secret that car insurance rates rise as you head into your senior years. Even if you maintain a good driving record, the fact that you are aging means you can expect to pay more. You probably had decent rates through your middle years, as you gained experience, kept a clean record and likely took advantage of discounts.

But now that you’re heading into you Golden Years, insurers see you as more of a risk. So, what can you do to combat a rise in rates? Let’s find out about saving money into your 50s, 60s, and even 70s.

The Best Car Insurance Companies for Seniors

There is no one insurance company that is best for seniors. There are companies that target seniors with their marketing but shopping around is the best way to find the best rate at any age. Each company has their own proprietary rules for calculating premiums and all take into account your driving record, the type of car you drive, as well as your location.

Saving Money with Senior Car Insurance Discounts

Seniors have many options when it comes to getting their insurance rates down. Especially if you are retired and more flexible, you can make some changes to reduce your rates. Here are a few actions you can take to help.

Pay per mile insurance – Some states are now offering pay per mile insurance and if you are a senior who doesn’t drive as much as you used to, it could offer big savings.

Drive less – Many insurance companies offer discounts for low-mileage drivers. If you no longer commute to work each day, you can likely reduce your rate. Low mileage is usually considered to be about 5,000 to 7,500 miles or less per year.

Take a class – Senior drivers also have the option of taking a driver training course to reduce their premium. In some cases, this can reduce your costs by 5%-15%. Each state has its own age eligibility requirements.

Add safety features – Cars these days come with all kinds of new safety features, like backup cameras, lane change assist, and other warning systems. If you are in the market for a new car, adding these features could help lower your insurance rates.

Reduce coverage – If you drive an older car you might consider dropping full coverage on it. And, if you have a second vehicle that you only use part-time, you may be able to take advantage of a parked vehicle or snowbird policy for the times you are not using the vehicle.

When you’re ready to shop around for the best car insurance companies for seniors, the InsuranceWins form is the place to start. Just enter some basic information and you can start to investigate all the ways you can save on car insurance just for being older.

If you’re like most people, you are always looking for ways to save money. And even though car insurance is a fact of life, an expense that you can’t avoid if you own a car, there are ways to save on your premiums. Self-employed people in particular may be able to take advantage of their status. In some cases, car insurance is tax deductible for self-employed people. In this article, we’ll discuss how this can work.

Car Insurance and Taxes

The tax code can be complicated, especially if you are self-employed. It’s important that you talk to a tax professional before you take a deduction for your car insurance, because there are rules that could lead to you owing back taxes, along with the penalties and interest that go along with it, if you take a deduction by mistake.

Generally, you might be eligible for a tax deduction using your car insurance premium if you drive your vehicle for your business. There are rules, however, that must be followed depending on your particular situation.

Schedule C – Profit or Loss from Business
If you are self-employed and file a Schedule C tax form, you will most likely be deducting your car insurance premiums for business vehicles. Schedule C is used to report self-employed business income and expenses and is used by many small business owners.

There are two ways to claim your deductions on Schedule C when it comes to your vehicle. If you choose the standard mileage option, which gives you a standard payment per mile, you cannot additionally deduct your car insurance premiums.

However, if you use the actual cost method on Schedule C, you can deduct specific costs related to your vehicle, including depreciation, gas, maintenance, license fees and your auto insurance premiums.

Form 2106 – Employee Business Expenses

Form 2106 had a major change for the 2018 tax code. So, if you are an employee and have been using Form 2106 to deduct your business-related car insurance premiums, this is no longer an option. The argument from the administration is that the standard deduction has increased to offset the loss of Form 2106 deductions.

No Reimbursements Allowed
The one caveat to deducting your car insurance is that you can not have been reimbursed for your car insurance premium by an employer.

There are many differences in how employers handle business expenses, even if you are a self-employed contractor. To protect yourself from doing the wrong thing, make sure you understand the employer’s rules and the tax laws. You may need to reach out to a tax professional or the IRS directly to ensure you are legitimately taking a car insurance tax deduction and to understand which strategy is best for your own personal financial situation.

And if you are losing your deductions with the new tax laws, you may want to shop around for a better deal on car insurance. The InsuranceWins form is a great place to start. Fill out some basic information and you’ll get new and fresh quotes to ensure you’re getting the best deal.

We all know that if you have a car, you have to pay for car insurance. It’s the law nearly everywhere. But, it can be a hassle to set up a new insurance policy, so it’s good to know that there are some circumstances when you can transfer car insurance to another person.

Generally, a car insurance policy goes with the car – not the person. But there are some circumstances where you can transfer your car insurance to another person.

Short Term Insurance Transfer

There are some stipulations around using a short term insurance transfer. For instance, the car you are going to be driving under the short term policy cannot be owned by your employer (this makes it a business use of the car, not personal) and it cannot be a leased vehicle.

You may wonder about short term insurance policies for rental cars. Generally, rental cars are already fully insured by the rental company and you don’t need to spend the extra money to buy additional coverage. There are times you may want to, but usually only for special circumstances and for higher end vehicles.

Change of Ownership Transfer

When a vehicle is changing ownership, it is not uncommon to transfer insurance from one person to another person. This ensures that the new owner is covered right away and can be helpful when a car is being transferred long distance, for instance.

The following steps should be followed to transfer car insurance to another person.

1. Transfer title: The first step is to change the title and registration of the vehicle to the new owner at your department of motor vehicles. The most important thing to remember is that the names on the title and registration documents must match the insurance documents. If the names are different, the insurance company will automatically deny any claims should you have an accident.
2. Contact insurance company: Once the car is officially in the new owner’s name, contact your insurance company and follow their procedures for transferring the insurance. Usually, this means you will receive a document that verifies the transfer of liability.

Notify the DMV: You need to submit the transfer document to the local department of motor vehicles so they can certify that the car is legal to drive. They will then issue proof of insurance documents and everyone is good to go.

Last Steps

Transferring car insurance to another person is really a temporary measure. Once the need is over, it makes sense to shop around for a better deal. After all, car insurance rates are based on many personal details.

When you’re ready to get a better rate, use the InsuranceWins form to get up-to-date quotes for your car insurance. An insurance transfer may not have given you the best rates. So, don’t keep overpaying for car insurance. Get your own personalized quotes right away.

When it’s time to travel, the last thing you probably want to think about is your car insurance. But if you are renting a car while away, you’re likely wondering if your car insurance covers a rental car in another country. It’s a good thing to understand so that you have a stress-free and safe trip.

Here are a few things to think about. 

Traveling in North America

If you are traveling to Canada and renting a car, the good news is that you are likely covered without doing anything extra. Most major insurance companies cover your rental car while in Canada. 

If you are traveling to Mexico, however, you’ll need to obtain specific rental car coverage in Mexico. This is easy enough to do through the rental car company. If you generally decline rental car coverage in other circumstances, you’ll want to purchase it for a rental car in Mexico. 

Traveling Elsewhere 

There are options for car insurance when traveling elsewhere, especially in Europe. Usually your liability coverage comes with the price of the rental car. This is the coverage that protects you from having to pay out-of-pocket if you cause an accident. It covers the injuries to other people and damage to another person’s property. 

The more robust coverage options, collision and comprehensive are not included, however. But there are options to gain this type of protection. 

The first option is to purchase a collision damage waiver, or CDW. This is not really insurance, but it is an agreement that you will not be financially liable if the rental car is damaged. Some countries require this coverage and it may be covered by your credit card company. Be sure to call your credit card company before you travel to find out exactly how they will cover car insurance for a rental car in another country. 

Also, you will want to make sure that your coverage extends across borders if you are traveling somewhere like Europe with close borders. 

What is a Collision Damage Waiver?

We mentioned the collision damage waiver earlier. While you credit card company may offer you protection, this protection will likely require you to pay a deductible should you have an accident. Purchasing a CDW, in most cases, releases you from these issues. 

A collision damage waiver can add significant cost to your rental. You will have to decide whether the added cost is worth it. It just may be when you factor in the potential for out-of-pocket expenses and a likely increase to your insurance premiums should you have an accident in a rental car in another country. 

The bottom line is that you should understand your own insurance company’s rules regarding coverage abroad. And if you’re not happy with your current insurer, use the InsuranceWins form to shop around for the best policy at the best price.

Car insurance can get tricky when you are driving someone else’s car. Normally, your insurance policy covers liability claims because of an accident caused by you while driving a car that is not your own. But what happens when you drive an uninsured car on your insurance? The answer depends on many factors, but generally your own insurance should cover you when you drive an uninsured car as an insured driver.

Your Coverage in an Uninsured Car

When you take out an auto insurance policy, there are several types of coverage that can be included with your policy. Each type is treated differently depending on the facts and factors involved in your accident.

Liability coverage is used to cover the medical expenses or damage repair bills of other people if you are found to be at fault for a car accident. This type of coverage is assigned to the driver. So, if you carry liability insurance on your own car insurance policy, you should be covered, even if you cause an accident in someone else’s uninsured car.

Comprehensive and collision coverage can be a different story. These optional coverages give you added protection, and if your own vehicle is financed or leased you are probably required to carry these two coverages.

Comprehensive protects you from damage caused by something other than a car accident. This includes things like vandalism and theft, or if a tree falls on your car.

Collision coverage is used to pay for damages when you hit another car or object such as a tree.

These coverages both go with the vehicle though, not the person. So, if you cause an accident in an uninsured car, the owner is likely out of luck for getting your insurance company to pay for damages.

Who is Covered?

Insurance companies are somewhat strict when it comes to who is covered on your policy. Usually, those living in your household are covered. You should list them on your policy to be sure. And if you have specifically excluded a driver from your policy, maybe because they have a bad record and drive your rates up, they will never be covered by your policy.

Be sure you understand your policy details before you drive an uninsured car, or before you start lending your own car out to others. Anytime there is an accident, and especially if the driver and the car have mismatched insurance, there will be questions. When sharing cars, make sure you have permission and the coverage you need.

If you’re ready to look at a new car insurance policy, the InsuranceWins form is a great place to start. All you have to do is fill in a few details and you’ll get quotes for liability, comprehensive, collision, an any other type of coverage you need to feel protected. And, you’ll save money!

Isolated young couple signs an agreement over white background

People everywhere are looking for ways to save money. If you have several people in your household, you may be wondering if you can combine your auto insurance into one policy in order to save money on your monthly premiums. 

So, can you add your girlfriend to your car insurance? Or, how about your roommate? In this article, we’ll talk about circumstances when it might make sense for two different people, who are not married, to be on the same car insurance policy. 

The Quick Answer

The easy answer to this question depends on your answer to another: do the two people live in the same household? 

If your answer is yes, then both people should be listed on the same car insurance policy. It does not matter if they are related or whether or not they are married. In fact, most insurance companies actually require that all household members be listed on the same auto insurance policy, if they will be driving the household cars. 

Advantages of One Policy

The one policy per household plan has several advantages, especially if the household is full of drivers who have good driving records. You can take advantage of all types of discounts this way, including:

• Multi-vehicle discounts
• Bundling discounts
• Safe driver discounts

And, if you have a less-than-stellar driving record, having a driver on your policy who has a better record can help you improve your own car insurance rates over time. 

Advantages of Multiple Policies

If you don’t live together or you don’t share vehicles with another person on a regular basis, you might be better to keep your policies separate. If another person who uses your car infrequently (less than 12 times a year) gets into an accident, they may be covered anyway, as long as they were using the car with your permission. 

Also, if one of you has a bad driving record, it may not make sense to combine policies because one of you is going to pay more than you would pay separately. Adding drivers with bad records will certainly increase the rate for the policy for everyone. 

If your girlfriend, or someone else you want to add to your policy, has a bad credit rating or drives a really expensive car, you may want to consider keeping your auto insurance policies separate. These are factors that determine the overall rate. So, if you drive a beat up Honda and the other person drives a new Range Rover, you will be paying a lot more together than you would be separately. 

The best thing you can do to answer the question of combining policies is to shop around. You can use the InsuranceWins form to get quotes both separately and combined to help you figure out the best way for you and everyone you live with to save the most money.

Female Care Worker Visiting Senior Woman At Home

It you’re like most people, you want to take advantage of any and all discounts on products and services you can. The good news if you are a nurse or otherwise employed in the medical field is that there are car insurance discounts for nurses. There are many types of discounts available, but often it is up to you to find them.

Let’s look at car insurance discounts for nurses.

How Can Nurses Save on Car Insurance?

There are a couple of ways nurses can potentially use to save on their car insurance. First, there may be a discount available based on the nursing school attended. It’s important to ask about this type of discount, which is usually a group discount for all who are alumni of a particular school. You may have to provide proof of your attendance and/or graduation in order to receive the discount.

Another option is to obtain a car insurance discount through a professional affiliation. Some auto insurance companies have programs that offer discounts based on membership in a nursing organization.

These types of discounts can range from 3% to 10% and may be restricted by state laws. The bottom line is that you should be sure to specifically ask your car insurance company if there are discounts available for nurses.

Car Insurance and Your Profession

There are many factors that go in to determining your car insurance rate. These factors can be personal, such as your age, gender, driving record or your credit score. Increasingly, however, insurance companies are looking at how to analyze a person’s risk based on their profession.

Companies are starting to see that some professions are associated with a lower risk than others. Those in the nursing profession, or other medical fields, may be found by insurance analysts to be less risky and to submit fewer claims. These “preferred” professions can enjoy the benefits of discounts because of this.

The discounts available for car insurance because of your profession can vary by state. Also, you may need to show proof of your employment in one of the preferred professions. One way to prove your employment as a nurse is through your identification badge or even proof of your nursing degree.

The best way to get the best rate is to shop around for car insurance companies that offer preferred rates for nurses and others in the medical profession. The InsuranceWins form is a great place to get started. Just fill out the simple form to get the quote process started. And don’t forget to ask about your discount for being a nurse!