Many motor car insurance firms view those over the age of 50 as a safe bet, according to industry statistics. This can be partly attributed to being a more experienced driver after years and years of motoring, which insurers believe allow drivers to be safer and make more informed decisions whilst behind the wheel.
Those aged 50 and older are also considered to have a more highly developed sense of danger, as well. Insurers feel that this older crowd have seen enough erratic driving behaviour that they can better look out for it when sharing the road with other vehicles.
Insurance premiums are also kept low by having experience motoring in a myriad of road and weather conditions. Newer drivers may not have the requisite experience in driving in snowy conditions, for example, but an old hand of motoring in the snow will know what to expect and how to handle their vehicle in a safe manner.
Maturity also plays a strong role in insurance premiums. Young motorists often face extremely high premiums because of a statistically higher likelihood of being involved in a road traffic accident than someone over the age of 50 would be.
Insurers believe that a 50 year old driver is much too mature to engage in the kind of showing off that comes much more readily to a 17 year old. This makes the maths simplified: if a motorist is old enough to demonstrate more care and attention whilst behind the wheel, this means the likelihood of their making a claim is lower – and this leads to less in premium payments.