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Over 50s Car Insurance

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By the time you are in your fifties, the chances are you have lots of driving experience. You are likely to be used to driving regularly, and understand the rules of the road.

Drivers of all ages still need car insurance. Insurers will work out the cost of car insurance premiums based on a range of factors, and age is one of them. Drivers over the age of 50 might expect to see a lower premium cost, to reflect their lower risk of making a claim.

Low policy costs for those over 50s might not always be the case, however. Your personal claim history, combined with the make and model of the car you drive will all determine how much car insurance policies will cost.

What factors determine the cost of car insurance?

cheap car insurance cover for over 50s

The cost of insurance is based largely on what risk you represent. This is why younger drivers often face higher premiums. A younger age can mean a less experienced driver. Inexperienced drivers are at a greater risk of being involved in an accident, and therefore making a claim.

As an older driver, your experience can count in your favour and you should be classed as a lower risk.

Your insurer will also take into account:

  • The value of your car
  • The cost of replacement
  • How secure your car is e.g. if it is stored off the road overnight, or in a garage
  • Your home address will impact the cost of your car insurance. Areas with high rates of crime should expect to see higher insurance premium costs.

Should over 50s use a specialist insurer?

Most people over the age of 50 will be able to get cover from standard policies. There are also specialist insurers who offer optional extra cover that might be appropriate for the older driver.

The specialist cover might provide no upper age limit for the policyholder. For older drivers with medical conditions, emergency driver cover on your policy will mean another driver will be insured if you are taken ill and need to be driven to the hospital or home.

Other types of cover to look out for include courtesy cars in the event your car is off the road. This can give peace of mind to older drivers, that they will still be able to get about if their car is involved in an accident.

How to find cheap car insurance for over 50s?

If you are a driver over the age of 50, you might find yourself already in the cheapest bracket when it comes to buying over 50s car insurance. However, it is always worth shopping around to make sure you get the best deal.

  • Compare quotes

Don’t accept the first quote you receive. It is worth comparing the premium costs from a range of different providers, to see if you could make a saving on the cost of your premium.

  • Pay upfront

Many people choose to spread the cost of car insurance into monthly payments. However, you could save money by paying a lump sum at the start of your policy

  • Increase the excess

Hopefully, as an experienced driver, you should be at low risk of being involved in an accident. By raising the amount of voluntary excess you pay in the event of a claim, your overall policy cost could come down.

  • Keep your car secure

Lower the risk of claims related to theft by always leaving your vehicle secure. Always lock your car, even if you only leave it for a moment. If you’re able to keep your car stored in a garage overnight, this should also reduce the risk of theft or damage, and lower the cost of your premium.

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