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Attention pensioners: How to reduce your car insurance costs! (94 characters)
Find out how retirees can save money smartly on car insurance. With tricks and tips for seniors to reduce insurance costs.
Attention pensioners: How to reduce your car insurance costs! (94 characters)
Seniors who take out car insurance usually have to dig deeper into their pockets than younger drivers. This is because, statistically speaking, older drivers are more likely to be involved in accidents, which is confirmed by industry associations such as the General Association of Insurers. The cost of motor vehicle insurance increases significantly with age, with 80-year-olds paying on average twice as much as 55-year-olds and those already 65 years old having to pay 16 percent higher premiums compared to drivers ten years younger.
Despite these age differences in premiums, insurers emphasize that the tariffs are based on statistical surveys and do not constitute discrimination. The age-dependent tariffs were also classified as permissible by the financial regulator BaFin. However, retirees and seniors have the opportunity to reduce the cost of their car insurance through certain strategies. One of these tricks is to check your own insurance and, if necessary, change provider in order to benefit from possibly more favorable conditions.
An effective trick to avoid the age surcharges and save significantly on car insurance is to insure the car as a second car through the child, with the senior registered as the driver. This measure can lead to savings of up to 50 percent in insurance costs. Even if the insurance is only taken out through the children, seniors can still save around a third of the costs. However, it is important to be honest with insurers so as not to jeopardize insurance coverage.
Alternatively, checking and, if necessary, adjusting the number of kilometers driven per year and achieving a higher no-claims rating can help reduce car insurance costs for retirees. This allows you to take advantage of discounts that partially reduce the contribution. It is advisable to consider these strategies to reduce the burden of car insurance costs in old age and use financial resources effectively.