What is a Recent Retirees discount?

Recent retirees discounts reduce car insurance rates for a short period of time after policyholders retire. A recent retirees discount may reduce full coverage car insurance rates by $4.76/mo.

Free Car Insurance Comparison

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Free Car Insurance Comparison

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

UPDATED: Jun 2, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.

Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.

Written By: Laura BerryReviewed By: Joel OhmanUPDATED: Jun 2, 2022Fact Checked

Here's what you need to know...

  • Some car insurance companies help recent retirees manage their expenses by offering a recent retiree discount
  • Other changes to your driving behaviors and coverage needs in retirement may alter your car insurance rates
  • The recent retiree discount is a short-term or temporary discount, so retirees should plan their finances accordingly
  • Recent retirees discounts may reduce full coverage car insurance rates by up to 4%

Many working adults actively dream about and plan for retirement for many long years or even decades before they finally take the plunge and retire.

Retirement is a monumental step in any person’s life, and it brings considerable financial change to your household.

If you plan to continue driving a car in retirement, you will still need to maintain an auto insurance policy per state law. Your car insurance premium will be a regular expense in your retirement budget until you stop driving.

Some providers after a recent retiree car insurance discount that could help you to save money on your premium.

This savings is usually a short-term or temporary discount, so it is often helpful to thoroughly shop around and find the best deal available on car insurance before or immediately after you retire.

Compare car insurance quotes today to see how much you could save by switching providers. Enter your ZIP code into our free rate comparison tool above to begin.

How Retirement Can Alter Your Car Insurance Needs

In your working years, your car insurance rates are influenced by the regular distance that you travel as you commute back and forth to work as well as by your selected coverage limits and types.

In retirement, you may adjust your coverage limits and types, and you may also stop driving as frequently.

More than that, some retirees even downsize in this area of their lives, and they may purchase more affordable cars to insure or become one-car households. You may also move to a new location for retirement, and this also could affect your auto insurance premium.

The Impact on Your Premium

Each of these important factors can affect your premium in some way, and many of them will work in your favor to help you save money on car insurance.

Your qualification for a recent retiree car insurance discount can also result in a lower premium for at least a short period of time.

Because so many different factors related to your car insurance premium will change when you retire, it makes sense to thoroughly shop around and compare all of the options available and to find a recent retiree discount that can help you to save money.

Your Need for Coverage

Coverage needs can change in retirement, and you need to ensure that you set up the most affordable policy that meets your needs.

After all, you may not want to pay a high premium, but you also do not want to risk the financial ramifications associated with being underinsured in a serious accident.

Understand your current requirements for coverage, such as through your state law and your lender’s requirements. Then, determine if you would benefit from purchasing additional coverage in retirement.

A recent retiree discount can make it more affordable for you to buy the full amount of coverage that you need.

An Affordable Deductible

A recent retiree discount can help you to make your premium more affordable, but an adjustment to your deductible can also accomplish this goal.

A higher deductible generally results in a lower premium amount. However, if you are trying to keep your out-of-pocket expenses related to a claim to a minimum, choosing a lower or more affordable deductible may be a great idea.

The Potential to Qualify for a Recent Retiree Discount

Only a few car insurance companies offer a recent retiree discount, and you will need to thoroughly review the options to discover which providers offer these savings.

Remember that the qualifications for the discount may vary by provider. Some providers may require both individuals on a policy to be retired or for you to be a certain age before benefiting from this discount. Other providers have less stringent requirements.

Free Car Insurance Comparison

Enter your ZIP code below to view companies that have cheap car insurance rates.

secured lock Secured with SHA-256 Encryption

Finding the Right Car Insurance Company for Your Retirement Years


Car insurance may be a regular expense in your budget, and you may be eager to take advantage of the recent retiree discount to save money on it.

However, auto coverage also is beneficial and can help you to avoid digging into your nest egg if you are involved in an accident or have to file a claim for another reason.

The best car insurance company for your retired years will have excellent savings opportunities that many retirees may qualify for and will also be trustworthy and respected.

Using the Recent Retiree Discount to Save Money

The recent retiree discount is usually only applicable to select policies for a limited period of time after you retire. For example, it may not be in effect at your next renewal date, and this can result in a higher premium amount going forward.

If you choose to use the recent retiree discount to save money now, also look for other discounts that may help you to save money on your premium.

Other relevant discounts that may be applicable to some retirees include:

  • Low mileage or infrequent driver discount
  • A green car discount
  • A discount for safety features in the car
  • A safe driver discount

Selecting an Insurance Provider You Can Trust

Be sure to thoroughly review the financial strength and consumer reviews for all providers that you are thinking about buying coverage from.

While the recent retiree discount is a great way to save money on your premium immediately after you retire, this is not the only factor that you should base your buying decision on.

Saving Money When Your Recent Retiree Discount Expires

You may need to plan ahead for how you will keep your car insurance premium low when your recent retiree discount expires. These are some thoughtful ideas that may work well for you:

  • Pay your premium in full
  • Set up automated premium payments
  • Take a defensive driving course
  • Ask for a higher deductible

All drivers can benefit from shopping for new car insurance rates periodically, and this includes retirees. Remember that factors related to your age, credit rating, driving record, and more can all fluctuate and can cause your rates to change as well.

By shopping for new rates periodically throughout retirement, you can continue to save money on your coverage. Enter your ZIP code below to begin shopping today.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.

A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

Full Bio →

Written by Laura Berry
Former Insurance Agent Laura Berry

Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

Full Bio →

Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

Free Car Insurance Comparison

Enter your ZIP code below to view companies that have cheap car insurance rates.

secured lock Secured with SHA-256 Encryption