How age could impact your car insurance costs

In today’s day and age (no pun intended), you would think that insurance premiums might not be impacted by age. However, as we’ve seen with younger and less experienced drivers, this is a cost that will always be inflated. So, why is it that older drivers, who have far more experience under their belts, are still penalised?

No law currently exists in the UK that states you have to be of a certain age to stop driving. Even if you’re nearing 101 years! However, renewing your licence every 3 years is a must if you have reached the wise age of 70. You don’t even have to sit another test. Simply declare medical conditions that exist (if any), and you’ll have to declare you are fit to drive.

IAM Roadsmart, the UK road safety charity, states there are presently around 12million motorists who are over 60 years old. There are also almost 2 million of you who are aged 80 and over. This is impressive when you consider 67% of people aged 70 or over have a licence, whereas it was only 40% almost 20 years ago.

A statistics company for market data found that once you hit the age range of 55 and 65, this is when your car insurance premiums typically begin rising. On the other hand, according to other comparison sites, you really begin to feel the hike after the age of 75. As you approach the age range of 80 to 84, an average of £100 is added to your premium. You hit 85 years, and you’re facing another average cost of an additional £200. And here we were thinking that insurance gets cheaper with age and experience?

If growing car insurance premiums weren’t enough, older motorists have more to contest with, too. There are some insurance providers out there who are imposing a “max acceptance age” on new policies. This could mean that older drivers may find themselves with fewer options to pick from when they need to be shopping around for new policies. And if there’s something we never get tired of repeating, it’s that loyalty doesn’t always pay. So, it’s not very fair, is it?

Luckily for you, no matter what age you are, we offer the same vast variety of cheap car insurance deals for everyone. Simply fill out this form and let us do the rest!

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