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Old 04-15-2014, 05:37 PM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
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Quote:
Originally Posted by Gandalara View Post
Nothing to do with senior discounts, but -- If you're with AAA and install their Onboard plug-in device, you can get a discount on your comprehensive coverage. It tracks mileage, where you go, how you drive, etc etc. The device also works as a stolen vehicle locator. It was invented so parents could track their teens

Used to have it on my 2005 truck. It won't work on the 2013 though (as of August 2013, anyway) - Onboard interfered with the Toyota security device.
Lord I'd rather pay more in insurance than have one of those Big Brother monitors looking over my shoulder. A year and a half ago I briefly hit 125 mph on a remote stretch of I-10 in Arizona. I shudder to think what my insurance company would do to me; the "less" would become "more" in short order. I'm sure glad I won't be around much longer, as I don't care for what the world is coming to.
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Old 04-15-2014, 05:44 PM
 
Location: SoCal desert
8,093 posts, read 13,234,579 times
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They only check the 'where you go and how you drive' if you get a ticket or are involved in an accident.
The mileage tracker resulted in them giving me another discount
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Old 04-15-2014, 05:53 PM
 
Location: SW Florida
9,759 posts, read 7,038,572 times
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Quote:
Originally Posted by volosong View Post
Did a quick search and didn't find this specific topic, unless it was buried deep in a thread.

I understand that auto insurance rates are partially based on how much one drives and that in retirement, it is assumed that one will be driving less than when gainfully employed. Also, many relocate from urban environments and their higher auto insurance rated to rural areas with their lower rates.

Assuming all things equal . . . were your rates reduced significantly upon retirement?

I'm still a few short years away from throwing the alarm clock in the trash and am wondering if it will be feasible to keep multiple autos in retirement, for example, the daily driver and a VW camper van for road trips. If insurance won't be significantly reduced, I may have to rethink how large of a fleet I want to maintain. Thanks for your thoughts.
I think our insurance dropped somewhat because we reduced the annual mileage and listed our cars as being driven only for leisure purposes. You might lose the multiple vehicle discount if you get rid of all but one vehicle, but I'd guess that's a lot less than the cut in your insurance rates because you're insuring fewer vehicles.

We have State Farm, when we retired we already had the over 50 discount that's offered by this carrier, so that discount was already in place.

I think we came out about even. Our rates decreased by our moving to a far less populated area in Florida, but we lost our multi-policy discounts when we sold the old house, so canceled the homeowner's insurance policy we'd had through State Farm.
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Old 04-15-2014, 05:54 PM
 
Location: SW Florida
9,759 posts, read 7,038,572 times
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Quote:
Originally Posted by Escort Rider View Post
Lord I'd rather pay more in insurance than have one of those Big Brother monitors looking over my shoulder. A year and a half ago I briefly hit 125 mph on a remote stretch of I-10 in Arizona. I shudder to think what my insurance company would do to me; the "less" would become "more" in short order. I'm sure glad I won't be around much longer, as I don't care for what the world is coming to.
Whoa! If you'd had one of those gadgets, you'd have had Big Brother flying over you for sure!
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Old 04-15-2014, 06:13 PM
 
9,197 posts, read 9,275,870 times
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I would think premiums would go up. The ideal ages for driving are ages 30 to 60 when you consider groups. Most insurance companies are trying to cater to this group. Past age 60, the claims experience is that accidents gradually rise. My father's car insurance rose significantly around age 70 and he hadn't had a claim against in 30 years.

The fallacy that many engage in is thinking that insurance companies base their rates solely on their accident history. Your accident and ticket history is part of it, but the other part is what their experience is with other individuals in your group.
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Old 04-16-2014, 08:55 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,806 posts, read 54,470,896 times
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We have 3 cars but none is driven more than about $6,000 miles a year, since my wife works close to home and I take the bus. We did see a decrease at 55, just as our kids saw decreases at 25. When we bought a 2014 with communication technology they offered us a discount for allowing them to access our car's computer, which we declined. You can get a low mileage discount by periodically allowing them to see the odometer. By giving them electronic access you will be penalized for things like panic stops, excessive speed, and jackrabbit starts, and could end up with higher rates even with low mileage.
When we retire we would expect lower rates after moving to a less congested area.
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Old 04-16-2014, 09:13 AM
 
Location: SoCal
6,069 posts, read 9,531,033 times
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Quote:
Originally Posted by Gandalara View Post
Nothing to do with senior discounts, but -- If you're with AAA and install their Onboard plug-in device, you can get a discount on your comprehensive coverage. It tracks mileage, where you go, how you drive, etc etc. The device also works as a stolen vehicle locator. It was invented so parents could track their teens

Used to have it on my 2005 truck. It won't work on the 2013 though (as of August 2013, anyway) - Onboard interfered with the Toyota security device.
Yeah. It also gives your insurance company evidence they can use to try to raise your rates and/or deny your claims. And a way for law enforcement to tail you without tailing you. Just what we need - less privacy! Our AAA insurance offered us this "free benefit". I replied, not only no but h*ll no! The agent was not at all surprised at my reaction.

Quote:
Originally Posted by Gandalara View Post
They only check the 'where you go and how you drive' if you get a ticket or are involved in an accident.
The mileage tracker resulted in them giving me another discount
Maybe today. Tomorrow, who knows what they'll check.
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Old 04-16-2014, 09:42 AM
 
5,394 posts, read 6,536,800 times
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Mine went up at 62.5 but since I had just totaled cars in a wreck, my fault, it was not a surprise. and I don't expect it to go down too much with time.
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Old 04-16-2014, 10:09 AM
 
Location: Glenbogle
730 posts, read 1,027,552 times
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IMO, there are so many factors other than age that can influence your auto premium that it's impossible to generalize.

For example, it can be affected up or down each year by:
Your credit score
Your annual mileage
Whether or not you have taken a defensive driving course, or if the one you previously took has expired
Your residence address (location risk assessment) if you've moved, even if it's just within the same town
Age and value of the vehicle

Even factors beyond your control can affect it. For instance, Travelers is now raising the premiums on cars that are garaged in a flood zone, because of the auto losses due to Superstorm Sandy.
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Old 04-16-2014, 12:32 PM
 
Location: SoCal desert
8,093 posts, read 13,234,579 times
Reputation: 14870
Quote:
Originally Posted by Gandalara They only check the 'where you go and how you drive' if you get a ticket or are involved in an accident.
The mileage tracker resulted in them giving me another discount
Quote:
Originally Posted by oddstray View Post
Maybe today. Tomorrow, who knows what they'll check.


Bothers some people, doesn't bother me. They'll get very bored following me around.
Now, if they track me on the computer ... THAT bothers me.
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