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How car insurance premiums are calculated
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Is car insurance cheaper for over 50s?
The cost of your premium depends on various risk factors, including your driving and claims history, where you live and your profession.
Our data shows that over 50s tend to see some of the lowest car insurance premiums compared to other age groups.
Age band | Typical annual premium3 |
|---|---|
Over 50 | £369 |
Over 60 | £355 |
Over 70 | £398 |
17-24 | £1,340 |
Premiums tend to go up slightly once you turn 70. That’s because we’re more likely to develop health issues as we age, which can impact our risk profiles.
Still, car insurance is often considerably cheaper for older drivers than young ones (as you can see from the table above).
That's because, with more driving experience and generally safer driving habits, insurance providers consider over 50s a lower risk than younger drivers.
They also tend to have fewer accidents on the road. The latest government statistics show that only around 10% of collisions in 2024 involved at least one older driver compared to nearly double caused by younger drivers.
What our expert says...
“Once you reach your 50s, you may be able to benefit from some of the cheapest car insurance around, as long as 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 and think about the level of cover you need for your lifestyle – not just the cheapest price quoted.”