Insurance Advices – As a 30-year veteran of the insurance industry and a senior himself, John Ritenour knows more than a little about how those aged 60 and older can have the proper insurance coverage without spending any more than necessary. Even though he’s retired now, he’s still eager to share his knowledge and insights with other seniors.

John Ritenour has spent the majority of his adult life in the insurance industry. A native of southwest Pennsylvania, he chose a job as an insurance agent instead of the steel mills. Within a year, he was a top producer. That led to his own agency and a move to Florida where he founded what would become Insurance Office of America (IOA), one of the top 100 independent insurance companies in the United States. When Ritenour talks about insurance, it’s wise to listen.

Insurance Advice from John Ritenour

1. Inquire about new lower-mileage insurance plans after you retire

Many auto insurance companies raise premiums when drivers turn 65. However, these increases can be offset by one or more new insurance products that reward good drivers and those who don’t drive much. Telematics involves devices that send real-time information about your driving to your insurance company. Drive within the speed limit and exhibit safe driving patterns, and you’ll save money, no matter what age you are. In addition, some companies offer a per-mile premium that makes good economic sense for some retired people who don’t drive much.

Insurance expert John Ritenour also advises that everyone should change their auto insurance status to “leisure” rather than “business” once they retire. This, too, will save on most auto insurance premiums.

2. Take a defensive driving class – Insurance Advices

Taking a defensive driving class won’t just help make you a better driver; it will help you save money on your insurance premium, says Ritenour. The government requires insurers to offer a discount to those age 55 and older who have taken such a course. The amount varies from state to state, but annual premium discounts of 5% to 10% are common. The discount expires after three years unless you take another course.

3. Bundle your policies

This advice isn’t new, but it still makes sense. If you purchase multiple policies from the same insurance company, you’ll almost always pay less. Ritenour suggests choosing a single company for your homeowners, umbrella (liability), automobile, and another vehicle (RV, boat, motorcycle) insurance.

About John Ritenour – Insurance Advices

John Ritenour and his wife, Valli, opened the Insurance Office of Florida in 1984. That’s the company that would eventually become IOA. After spending decades at the helm, he retired in 2018, and his son, Heath now handles the day-to-day operations as company CEO and Chairman.

Insurance Advice- Technology is quietly changing the way insurance companies do business. This is good news for policyholders, even seniors who may not be the most tech-savvy customers, explains John Ritenour, a 30-year veteran of the insurance industry. He is eager to share several recent insurance products that his peers might not be aware of.

The Ritenours still live in Central Florida. Though they are no longer active in the insurance business, they still participate in the company’s charitable activities. Not having daily work responsibilities gives John time to spend with the couple’s grandchildren. Currently, he’s working on his next big goal–being the “best grandfather in the world”.