Compare Cheap Over 60’s Car Insurance Quotes

Compare over 60's car insurance

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As you venture into your sixties, it’s natural to anticipate retirement and the perks that come with it. Among these potential benefits is the opportunity to enjoy more affordable car insurance.

Let’s explore how you can take advantage of these savings in your sixties.

Is Over 60s Car Insurance Cheaper?

Lower Risk, Lower Premiums

For those over 60, car insurance often comes at a more affordable rate. This is primarily because individuals in this age group are generally seen as lower risk to insurers.

They tend to make fewer claims compared to younger drivers, which typically leads to more economical premiums.

Is Over 60S Car Insurance Cheaper

Comparing Costs Across Ages

The Association of British Insurers (ABI) highlights a striking difference in costs. They note that drivers aged between 66 and 70 often enjoy the lowest rates for car insurance. In fact, the amount they pay is just about a third of the average premium paid by young drivers aged 18 to 20.

Association Of British Insurers (Abi)

Savings for the Over 60s

The data clearly indicates that individuals in their sixties could experience substantial savings on their car insurance when compared to younger drivers. This is a notable advantage, offering financial relief as one progresses into the later stages of life.

Age band

Average car insurance premium

17-24

£2,041

Over 60

£452

Source: CompareTheMarket

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How can I get cheap over 60’s car insurance?

You can still find more ways to lower the price of your car insurance even more:

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Do I Need Specialist Over 60’s Car Insurance?

General Insurance for Over 60s

Securing affordable car insurance in your 60s is often achievable, particularly if you maintain a clean driving record. Many standard insurance policies cater well to this age group, offering competitive rates and necessary cover.

Do I Need Specialist Over 60'S Car Insurance

Benefits of Specialist Insurers

However, some specialist insurance companies provide additional perks that may not be available in regular policies. These extras can be especially appealing if you’re looking for more than just the basics.

Additional Perks and Considerations

Such benefits might include lower-cost add-ons like a rental car, or higher age limits for cover.

It’s worth noting that as you continue driving into your 80s, insurance costs could begin to rise again. Therefore, considering specialist insurance might be a prudent choice for long-term planning.

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Why compare over 60’s car insurance quotes with Comparoo?

Our goal is to simplify the process of finding affordable car insurance. When you choose a policy through Comparoo, you can enjoy:

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Frequently asked questions

You likely won’t need a medical exam to get car insurance if you’re over 60. However, you must tell your insurance company about any health issues that could impact your driving.

If you don’t, your insurance may not be valid, and you could face problems if you need to make a claim.

Drivers over 60 generally pay less for car insurance. However, if you have a history of driving issues, like convictions or insurance claims, your premiums might be higher. Also, adding younger drivers to your policy or insuring more cars can increase your costs too.

When you retire, your job status changes, and this can impact your car insurance premiums. Because your driving habits might change too, like driving less or not commuting, your insurance costs could go up or down.

It’s essential to inform your insurance provider about your retirement to make sure you have the right cover.

Yes, it’s important to tell your insurer when you retire or if anything else changes in your life. Being honest with your insurance company is essential because not sharing accurate information can result in your policy becoming invalid.

Always keep your insurer updated about any changes to make sure you have the right cover.

Choosing optional extras for your car insurance can give you more protection, but they might cost extra. Being over 60 has its perks because you could get special insurance for older drivers.

Many of these special insurance companies offer extra features at lower prices, so you can get better cover without spending too much.

Telematics cover, or black box car insurance, tracks your driving through an app or gadget. If you drive safely, you can get lower insurance costs. While it’s mainly for young drivers to save money, older drivers can benefit too.

If you’re over 60 and don’t drive often, you might save money with a policy that charges you based on how much you drive. So, telematics cover can be a good option for drivers over 60 as well.

When determining the cost of your car insurance premium, insurers take into account several key elements. These include:

  • Your claims history: This reflects any past claims you have made. A history with fewer claims often leads to lower premiums.
  • Your no-claims discount: If you haven’t made any claims for a certain period, you may be eligible for a no-claims discount, which can significantly reduce your insurance cost.
  • The type of car you drive: The make, model, and age of your car can affect your premium. Typically, more expensive or powerful cars cost more to insure.
  • Where you live: Your residential area impacts the premium, as some locations are considered higher risk due to theft or accidents.
  • How much you drive: The more you drive, the higher the likelihood of an incident, which can increase your premium.

Additionally, there is an insurance premium tax (IPT) that is factored into the cost of your car insurance. Currently, this tax is set at 12% of your car insurance premium.

Retirement can lead to a reduction in your car insurance premium, primarily due to changes in your driving habits. Once you retire, the nature and frequency of your car use often shift significantly.

For instance, if you previously used your car for commuting to work but now utilise it mainly for personal errands, it’s important to inform your insurance provider.

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A decrease in your annual mileage typically positions you as a lower accident risk, which can positively influence the cost of your annual premium.

Moreover, if you used your car for business travel during your working years, retiring allows you to exclude this aspect from your insurance policy. This change often makes you eligible for additional discounts, further lowering your insurance costs.

Choosing a specialist car insurance provider as you age beyond 60 is not mandatory, but it can be advantageous. Such providers often tailor their services with specific perks for older drivers. These benefits might include:

  • A fixed-price promise for three years, ensuring stability in your premiums.
  • No upper age limit, offering cover without age restrictions.
  • A guaranteed courtesy car, ensuring mobility while your car is being repaired.
  • European cover for up to 180 days, ideal for those who travel.
  • ‘Get You Home Service’ in case of an accident, providing essential assistance.
  • Unlimited windscreen cover, covering all repairs or replacements.

Therefore, it’s wise to shop around and compare different policies. You might discover that switching providers could offer you more favourable terms and additional benefits that weren’t available in your previous policy.

Your ability to obtain car insurance in your 60s is generally contingent on your fitness to drive safely.

If you have a medical condition that might impact your driving abilities, it is crucial to inform both the DVLA and your insurance provider. Failure to do so could result in a fine of up to £1,000 and the invalidation of your insurance policy.

To ascertain if a particular medical condition should be reported, you can utilise the government’s online service.

This platform provides clear guidelines on which health conditions need to be disclosed to ensure your driving and insurance arrangements remain compliant and valid.

To potentially lower the cost of your car insurance as an over-60 driver, consider these steps:

  • Enhance your car’s security by installing an industry-approved alarm or immobiliser. This can make your car less of a theft risk, which insurers often reward with lower premiums.
  • Reduce your annual mileage. Fewer miles on the road can decrease the likelihood of accidents, thus reducing your insurance cost.
  • Increase your voluntary excess. Opting for a higher excess typically leads to a lower premium, but ensure it’s an amount you can comfortably afford in case of a claim.
  • Pay for your annual insurance upfront. While this requires a larger initial payment, it can be more cost-effective than monthly payments, which often include additional charges.

As you approach or enter retirement, it’s wise to consider adding some optional extras to your car insurance policy for enhanced protection and peace of mind. These extras can include:

  • Breakdown cover: providing assistance in the event of a vehicle breakdown.
  • Legal expenses cover: which can be invaluable in covering legal costs arising from a car accident.
  • Courtesy car cover: ensuring you have access to a vehicle while yours is being repaired.
  • Lost keys cover: offering protection and assistance if your car keys are lost or stolen.

When evaluating these options, it’s important to compare costs for these add-ons. Additionally, check if any of these benefits are already included as standard in your current policy to avoid unnecessary duplication.

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