A simples guide

Is specialist over 50s car insurance better?

We all like a bit of certainty no matter what age we are but sometimes it can be baffling when you see specific products targeted at your age group – like over 50s car insurance. Of course, it’s easy to think that such focussed packages are ‘better’. But are they really? 


Why is car insurance usually cheaper for over 50s?

Insurance is a game of risk – the ‘riskier’ you’re considered then the more you’ll end up paying. So a 20-year-old in a pimped up, turbo-charged hatchback is likely to pay more than someone in their fifties driving a Honda Civic with full service history. Your average 50-year-old has also probably built up a decent no claims discount (NCD) too, which in turn will help lower premiums.

Can a specialist offer me more than a mainstream insurance provider?

That ultimately depends on what your final policy states. If you’re judging by price alone, it’s not always an immediate win for the specialists. A Which? survey showed that like for like car insurance quotes for someone in their sixties differed by £152 between the cheapest (a mainstream insurer) and most expensive (a specialist).

But it’s not as simple as being able to write out a clear cut ‘pros and cons’ list. There are some added benefits of going with a specialist which you might not find with more mainstream providers, such as:

  • No upper age limits – you can get insurance even if you’re in your 90s (but surely you’ve earned the right for your grandchildren to ferry you around by then?)
  • Courtesy cars or a ‘get you home’ service – usually offered as standard so you always know you can get home safely
  • Emergency driver cover – if you need to cut your journey short because of a medical emergency, some policies will allow any driver to drive your car and take you back home giving you peace of mind

Some policies will also give you unlimited cover on any extra equipment such as sat navs, stereo or CD systems too. And if you fancy spending your retirement driving through the south of France then you’ll be pleased to know there are policies that will give you unlimited European cover at no extra cost.

Top tips on getting great deals

The Association of British Insurers (ABI) in 2015, found that the 66-70 age group enjoyed the lowest average premium (£241 compared to £972 for the average 18 to 20-year-old). But you don’t have to wait until then to get a good deal. To keep premiums down consider taking out a higher excess (making sure it’s realistically affordable) or paying for your policy up front as monthly instalments may include extra charges. It goes without saying, but always try and keep your car as secure as possible – in a garage or on a driveway, or fit an approved security system or immobiliser.


How do I find the best deal for me then?

Getting the right deal doesn’t have to be about fitting into an age group, it’s about getting a policy to meet your needs as a driver, regardless of your age. Remember that cheap doesn’t always mean better when it comes to insurance.

Specialists may come up more expensive but they’ll often include benefits as standard that mainstream providers charge extra for and you might find that this works out to be more convenient and the same value (or even better) than a non-specialist. But you shouldn’t write off a mainstream provider just because you’ve got to a certain age.

With any insurance provider it’s important to be honest and up front about your needs. Your policy is based on multiple factors including your age, car, postcode and claims history, any little white lies could invalidate your policy, costing you far more in the long run.

Is it time to compare the market?

Of course, the only way to find ‘the one’ is to look and that means comparing the market. We can help your search by giving you genuine choice based on your needs, we make it easy to compare providers because that’s just what we do – no nonsense, no complications, just simple, straightforward choice. If you see something you like you can find out more from the links provided. We’ve saved our customers an average of £248.41** a year on their car insurance – why not join them and start a new quote today?

**Average price savings are based on comparethemarket.com data in June 2016

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