Guide to over 50s car insurance

Looking for car insurance for older drivers?

Age is just a number, but where car insurance is concerned, it’s a number that matters. And as an older driver, it will usually work to your advantage. So, whether you’re shopping around for car insurance or already have a policy, make sure you get the most out of it. 

Why does age matter? 

Car insurance for over 50s, and over 60s too, is usually much cheaper than policies for younger drivers. Why? Because statistics show that more experienced drivers are less likely to be involved in an accident. 

Older drivers tend to do fewer miles, often opt for slightly less powerful cars and might have built up a good no claims discount. This means insurers see them as less of a risk and tend to charge less. 

Over 50s car insurance companies

Some insurers do specialise in over 50s policies, but they’re not necessarily going to offer you the best price. As lots of providers cover older drivers, you can cast the net wide when exploring the market. Comparing different policies may help you find cheap car insurance for over 50s. 

In addition to the cost of the policy, think about the level of cover and features it offers you too.

What about car insurance for over 70s?

Generally, car insurance for pensioners and older drivers does start to go up at 70, or around that age.

What can I do to cut costs?

Pay upfront

If you can pay for a year of insurance in one go, you'll avoid the interest that’s usually added to monthly instalments.

Be aware of auto renewal

Your insurer will usually notify you when it’s time to renew your policy. They usually outline your current premium and what you’ll be charged for the coming year. 

If you do nothing, the policy will simply auto-renew with the new premium. Haggling with your insurer, or looking for a better quote elsewhere, could save you a fair bit of money.

Increase your voluntary excess

Your insurance costs may drop if you up your voluntary excess. But make sure you set it at a realistic amount so that you can still afford to make a claim. On the other hand, increasing your excess by a small amount might not lower your premiums enough to be worth it. 

Invest in some security 

Think about adding things like a steering wheel lock, immobilisers or a top-notch alarm system. This will help convince insurers that your car is at less of a risk of theft. At night, park it off the street – or better still, in a garage – and you could see your costs drop even lower.

Work out your mileage

Most people overestimate how many miles they drive, but this can push your costs up. That's because insurers will assume the more time you spend on the road, the more likely you are to be in an accident.

Take an advanced driving course

Some insurers offer cheaper car insurance if you've completed an advanced driving course. The most respected is the driving certificate from the Institute of Advanced Motorists. It's worth checking with your insurance provider to see if they will lower your price before you apply.

Consider black box insurance 

Also known as telematics insurance, a black box policy involves having a GPS device installed in your car to monitor the way you drive. It tracks things like your acceleration, speed and braking. If your insurer deems you to be a safe driver, they’ll lower the price of your cover.

Add a named driver to your policy 

If your premiums are starting to creep up, you could think about adding someone who’s considered lower risk to your policy as a named driver.