Insurance Industry Veteran John Ritenour Lists Discounts that Seniors Need to Know About

Written by nonyss

John Ritenour, the co-founder of Insurance Office of America, knows more than a little bit about insurance. Recently retired, he spent more than 30 years in the insurance industry, first as a top sales agent and then later as the owner of the independent agency that he and his wife grew to be one of the top 100 agencies in the United States. As an insurance leader, John Ritenour is often asked by his peers how to save money on auto insurance. Ritenour answers that there are a myriad of discounts available to seniors if they know where to look. He was good enough to share a few of these discounts with our readers.

  1. Bundle discounts. One of the largest discounts available is to customers who purchase more than one type of coverage from the same insurance company. For example, using the same insurance company for your auto and your homeowners coverage will save you money on both policies.
  2. Discount for taking a defensive driving course. The US government requires auto insurance companies to offer a discount to policyholders age 55 and older who complete a defensive driving course. The course is around $25 and can save seniors between 5% and 10% on their annual premiums. The discount lasts for three years.
  3. Discount for paying annually. Another often overlooked discount that virtually every insurer offers is the discount for paying your annual premium in full, advises Ritenour. Seniors with savings are often in a better position to do this than younger policyholders who have mortgages and young children.
  4. Discount for setting up auto-pay. You’ll also get a discount for having your premium automatically deducted from your checking account or credit card, says John Ritenour. “Don’t worry”, he explains. “You’ll get plenty of notice”.
  5. Organization discounts. The groups you belong to might also qualify you for an insurance discount. Common ones are AAA and AARP, but smaller, more specialized groups, such as the American Bar Association, the American Society of Civil Engineers and the National Association of Home Builders. Make sure to ask your agent about this type of discount, advises Ritenour.
  6. Green vehicle discount. If you drive a hybrid or electric vehicle, you’ll likely qualify for a premium discount.

About John Ritenour

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

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”.

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