When living on a fixed-income, due to retirement, you have to find ways to stretch your money and make it work for you.
You have a number of bills rolling in each month.
The last thing you need is a high car insurance premium.
But how do you choose the best car insurance company that fits your needs and your income?
Read more to discover some of the best car insurance companies on the market!
Progressive is one of the best car insurance companies out there. Their customer service is impeccable. You’re able to sign-up online, plus they have a Progressive mobile app in which you can file claims, manage your account, and even set-up auto-pay for your monthly car insurance premium.
This is perfect if you’ve recently retired and are in need of a way to manage your finances while on a fixed-income. The Progressive app shows you the amount you’ll pay either every six-months or on a monthly basis and they’ll also provide the date the withdrawal (payment schedule) will be made. It makes paying your car insurance easier and you don’t have to mail a check or call to speak with an agent unless you desire to do so.
Progressive also provides amazing benefits for their customers if you bundle your plans; combining home and auto insurance or auto and condo insurance together. By bundling their plans together, you’re eligible to save an extra 5% on your auto insurance 1 ! That 5% can go a long way when you’re on a fixed-income. It may even save you up to $1,000 by bundling your home and auto insurance with Progressive.
An added benefit of choosing Progressive as your car insurance company of choice is that Progressive has a Loyalty Rewards program that includes small and large accident forgiveness, continuous insurance discounts, and teen driver discounts (if applicable).
Not to mention, Progressive also gives you an opportunity to earn discounts as a customer for continuously having and keeping your insurance, using electronic funds transfer to pay your monthly premiums, being accident-free for a number of years, being a homeowner, submitting a quote online, going paperless (going “green), renewing your car insurance with Progressive, and being a safe driver for a number of years.
You can even update your policy coverage within the Progressive app; including adding or removing drivers on your car insurance.
The benefits of choosing Progressive as your auto insurer are endless.
Why not check out Progressive to see what options are available for you?
GEICO is another amazing car insurance company that looks after its members by providing a number of insurance and bundling options. One of GEICO’s main offers is that of bundling home and auto together to provide you with savings on your car insurance policy.
It’s the gift that keeps on giving.
GEICO also has a mobile app in which you can manage your policy, order new car insurance identification cards, or request roadside assistance. They make having car insurance easy and affordable to everyone; especially for those who are retired an on a fixed-income.
There are also a number of discounts that GEICO offers, including:
- Car Insurance Discounts
- Senior Driver Discounts
- Military Discounts
- Federal Employee Discounts
- Student Driver Discounts
- Member and Employee Discounts
GEICO makes it easy to file claims online or through their convenient app, which gives you an added peace of mind in the aftermath of an accident.
They’re just one click away.
Allstate asks you this most important question: “Are you in good hands?”
This car insurance company prides itself on its customer service and showing that they care for their customer’s needs. Allstate even provides you with a number of ways to keep you safe on the road and they offer a ton of discounts that would make anyone happy to save some money on their car insurance. Especially if you’re retired and plan to be on the road less than usual.
Allstate has a product (system), Drivewise, that you plug into your car, download the mobile app, and activate – all from your phone. You’ll receive savings off of your car insurance policy by signing up and staying active in the Drivewise program. On top of that, after traveling on your first 50 rides, and every six months after that, you’re eligible to receive cashback on your car insurance policy by using Drivewise.
What is Drivewise exactly?
Drivewise monitors your driving habits in order for you to earn discounts on your car insurance.
How do you earn this discount?
By limiting your speed while driving (remaining under 80 miles per hour), restricting late-night drives, and limiting hard-braking, you’ll earn Allstate Rewards points, 15% cashback, and 3% off your car insurance policy.
Allstate has other discounts to offer, including:
- New Car Discounts
- Smart Student Discounts
- Multiple Policy Discounts
- A FullPay Discount
- An Early Signing Discount
The list goes on!
Allstate offers bundling discounts as well to keep the savings rolling in. Their mobile app allows you to manage your car insurance policy, file a claim, and request roadside assistance quickly with a tap of your finger.
4. State Farm
State Farm is always there; like a good neighbor.
As with their competitors, State Farm offers savings on their car insurance if you combine your home and auto policies. State Farm also offers a variety of coverage options for car insurance, such as collision coverage, comprehensive coverage, liability coverage, uninsured motor coverage, emergency road coverage, and rideshare driver coverage.
State Farm makes getting a quote or filing a claim online fast and easy. You can even check on the status of your claim online once its’ been submitted.
State Farm has a variety of discounts to offer, including:
- Accident-Free Discount
- Good Student Discount
- Safe Vehicle Discounts
- Multiple Auto Discounts
Which Car Insurance Company is the Best for You?
When choosing the right car insurance company for you and your needs, think about these three things:
- The price of the auto policy.
- The discounts that are offered.
- The ease at which you’re able to communicate with an agent and file a claim.
Whatever you decide, make sure it makes sense for you, your family, and your wallet.
Need more information about some of the best car insurance companies available? Check out Bankrate.com for more details!