How does this affect the different age groups of drivers?
Our data has shown that younger drivers tend to save the most money by switching their insurance policy three weeks early. A driver under the age of 24 would average a saving of £293.28. Whilst this does decrease amongst the rising age groups in steady correlation, there are still fantastic savings to be made for older drivers.
Drivers within the 25-34 age group save on average of £30.26 less than a driver under 24, however this is still an incredible saving of £263.02 on your car insurance premium for switching earlier than your renewal date. Drivers between the 35-44 age group see a more substantial drop with their average savings coming to a total of £192.36.
If you fit into the 55-64 category, you can still find joy in savings that average £180.31 per year. As previously touched upon, drivers over the age of 65 tend to save the least with a total premium of £141.24.
Why am I saving less money as an older driver?
There are an array of factors to consider here, whilst you may find that a younger driver with much less experience is saving more money on his car insurance premium, he is most likely still paying more than you would for the same vehicle. Whilst your savings are lower, your insurance premium would tend to be too.
So if you want to know how much you could save on your insurance, you can compare quotes now and make sure that you’re getting the best policy at the right price for you.