Car Insurance for Older Drivers

Drivers aged 50 or more are, in general, considered a lower risk by car insurance companies. Even though age is a detrimental factor (seizures and heart attacks while behind the wheel are much likely to occur when you are in your sixties than for a thirty year old), insurers take into account the experience and the driving history.

Statistics show that older drivers are much less likely to cause traffic accidents than younger ones and, even when these occur, they tend to be less serious and the damages aren't that high. Seniors drive less and, when they do, they tend to drive slowly and carefully, giving them less opportunity to be involved in an accident. This is, however, a generalization, so just because you just turned 60 it doesn't mean that your insurance company will offer you a discount.

Will all drivers aged over 50 get cheaper insurance?

Long story short, no.

The actual cost of your premium depends, among others, on your driving record and the number of claims you have filed in the last couple of years. The age also makes a difference -- as you get old, your eyesight starts to deteriorate, and medical conditions associated to age start to kick in.

Statistics show that drivers aged over 70 are almost 15% more likely to file a claim than those in their forties of fifties. Therefore, as you reach 65, your premiums will gradually go up. There are even some insurance companies who refuse to cover motorists of 80+ years old.

How to get cheaper insurance for older drivers

Just because you are 65 or close, it doesn't mean that you should be paying more. The insurers have the general statistic model in mind when assessing your application, but it's your actual driving record that counts. Here are some tips to get cheaper insurance.