Over 50s car insurance
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[1]Correct as of December, 2022.
Everything you need to know about over 50s car insurance
By the time you are 50, you’ve probably had plenty of experience behind the wheel. Car insurance companies recognise this, and it’s one of the key reasons car insurance premiums for those over 50 are some of the lowest available. But that’s not to say cover is always cheap, so we’ve put together a simple guide to help you cut the cost of your car insurance.
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Is car insurance for over 50s cheaper?
Drivers over 50 are considered to be a lower risk than younger drivers. According to data from the Department for Transport, there were 9,142 road casualties involving drivers aged 50-59 in 2018. This compares with 11,400 road traffic accidents involving drivers aged 17-24.
Because they’re less likely to take risks, such as speeding, there’s less chance of drivers over the age of 50 being involved in an accident. This means they can often benefit from cheaper premiums.
Our data shows that 51% of over 50s could achieve a premium of up to £314[2] for their car insurance. That’s good news indeed, when you consider that the average car insurance premium now stands at £629[3] per year.
[2] 51% of over 50s could achieve a quote of up to £313.21 for their car insurance based on Compare the Market data in November 2022.
[3] 51% of our customers were quoted less than £628.58 for their fully comprehensive car insurance in November 2022.
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We compare quotes from some of the best car insurance companies, including:
How much does over 50s car insurance cost?
51% of over 50s could achieve an annual premium[4] of up to £314
51% of over 60s could achieve an annual premium[5] of up to £290
51% of consumers across all age groups could save[6] up to £374
[4] 51% of over 50s could achieve a quote of up to £314 for their car insurance based on Compare the Market data in November 2022.
[5] 51% of over 60s could achieve a quote of up to £290 for their car insurance based on Compare the Market data in November 2022.
[6] Based on Online independent research by Consumer Intelligence during November 2022. 51% of customers could achieve this saving on their car insurance through Compare the Market.
How do I find the right over 50s insurance for me?
Finding the right car insurance deal to meet your needs is important. It’s a good idea to shop around and compare what’s on offer, to see if you could be getting a better deal.
You can find a range of competitive over 50s car insurance quotes right here at Compare the Market. Compare car insurance with us today to see if you can get a great deal on your next premium.
Why use Comparethemarket?
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What do I need to get a quote?
To get an over 50s car insurance quote, all you’ll need to do is tell us your:
- name, age and address
- registration number or model and age of car
- annual mileage
- occupation
- length of no-claims discount
- details of your driving history, including if you’ve had any accidents and motoring convictions
What our expert says...
“Once you reach your 50s, you should be able to benefit from some of the cheapest car insurance around, provided you’re proven to be a safe driver with a clean record.
“But don’t just automatically renew your policy. It pays to shop around, taking into account the level of cover you need for your lifestyle - not just the cheapest price quoted.”
- Alex Hasty, Motor insurance expert
What do our customers say?
Based on 102,543 reviews, our customers rated us 4.6 out of 5.
Saved £160 and stayed with same ProviderBritpart • 09/09/2021
I got a great price for my car insurance, I would definitely recommend to friendJTHOM • 09/09/2021
So easy and fast. Got a great deal half of what my current insurers quoted.Jak60 • 09/09/2021
Love the way your details are kept which make it easy to review and choose each.Carol G • 02/11/2021
Frequently asked questions
How is car insurance calculated?
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.
Why might an over 50 pay more for car insurance?
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.
Should I go with a specialist over 50s car insurance provider?
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
What policy extras do I need if I’m over 50?
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.
Do I need a health check to buy car insurance if I’m over 50?
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.
How can I cut the cost of car insurance quotes for over 50s?
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.
