Over 50s car insurance

Car insurance premiums are based on various things including your age, driving history, car and where you live.

Risk is a key factor for insurance providers when it comes to working out what you should pay. If you’re over 50, it’s assumed that you’re a lower risk because you’re likely to be a more experienced driver. Plus, there’s a good chance you’ve built up some no claims discount.

As you get older, your mileage could increase. This could be a longer commute or playing taxi to children. The more mileage you rack up, your premiums could go up, too.

Over the years, you may have picked up driving convictions or points on your licence. These must be declared, so you’ll usually pay more in premiums, because there’s evidence you’re a higher risk driver.

However, you can usually expect your car insurance to get cheaper as you get older. This is because you have more driving experience, which should make you safer on the roads.

When you reach a certain age (such as 70 or 80), insurance providers start to naturally consider you a higher risk once again, because of your age.

Although you don’t have to, there may be some added benefits to buying your insurance through a specialist car insurance provider, such as Saga, Age UK and Rias. These might include:

• No upper age limits – you could get insurance even if you’re in your 90s
• Courtesy cars or a ‘get you home’ service are often offered as standard
• Emergency driver cover – if you have a medical emergency, some policies will cover any driver to drive your car and take you home
• Unlimited cover on extra equipment such as sat nav, stereo or CD systems
• Unlimited European cover at no extra cost

The car insurance policy extras for over 50s are the same as anyone else, but you might decide that you need them more as you get older. Here are some examples:

• Breakdown cover – you don’t want to be stuck on the roadside if you breakdown, so look at the right breakdown cover to get you back on the road ASAP.
• No claims discount protection – if you've built up a large no claims discount, you might want to protect it.
• Courtesy car cover – this will give you another car to keep you on the road and let you get on with your life until yours is fixed.
• Lost keys cover – can cover the cost of replacing or reprogramming lost keys.

No, you shouldn’t need a health check for over 50s car insurance.

However, if you have developed a medical condition, or know about a pre-existing medical condition that affects your ability to drive, you’ll need to declare it to both the DVLA and your insurance provider. While this might mean your premiums go up, failing to do so can result in a fine of up to £1,000 and even prosecution if you’re involved in an accident.

Here are some ways you could save on your over 50s car insurance:

• Avoid auto renewal – it might be easy, but you could pay more than you need to.
• Improve your car’s security – keeping your car somewhere secure overnight, or investing in an immobiliser, could reduce the risk of your car being stolen or vandalised, as well as the cost of your premium.
• Reduce your annual mileage – just remember, if you significantly underestimate your mileage your policy could be invalid.
• Raise your voluntary excess – just make sure you can afford both the compulsory and voluntary excess, if you need to make a claim.
• Pay upfront – this could save you money on any interest charged by paying monthly.