Compare over-60s car insurance

Now that you’re in your sixties, you may be thinking ahead and looking forward to retirement, taking time out to travel, or perhaps enjoying some discounts. Did you know that you could also start to benefit from cheaper car insurance? Here’s all the information you’ll need.

Is over 60s car insurance cheaper?

The cost of your car insurance is based on your personal circumstances and driving history. Having said that, you’ll often pay less for your premium once you turn 60.

Drivers over 60 are considered one of the safest age groups to insure. Because they’re less likely to take risks, such as speeding or using their phone while driving, drivers over 60 are involved in fewer road traffic accidents than younger drivers. This means they often benefit from cheaper premiums.

The average annual cost of car insurance is now £640, based on Compare the Market’s Premium Drivers Report in December 2021. By comparison, 51% of customers over 60 could achieve a premium of up to £248**.

**51% of over 60s could achieve a quote of up to £248 for their car insurance based on Compare the Market data in December, 2021.

Frequently asked questions

How is over 60s car insurance calculated?

When it comes to calculating your premium, insurance providers consider a number of factors, including:

There’s also one other element that’s added to the cost of your insurance – insurance premium tax or IPT. This currently stands at 12% of your insurance premium.

Do I have to tell my insurance provider when I retire?

You should always tell your insurance provider about any change in your personal circumstances, including your occupation status, as this could affect your cover. Updating your policy will not only protect you if you need to make a claim, but could even mean you get a discount.

Retirement can have a big impact on how much driving you do. If you once commuted to work by car but now only use it to run errands, tell your insurance provider, as this could lower your premium. You’re even more likely to get a discount if you were using your car for business travel, as you can now exclude this from your policy.

If you’re driving less these days, your annual mileage will be lower. Insurance providers may consider you less of an accident risk, which you could find reflected in your annual premium.

Do I need a specialist car insurance provider now I’m over 60?

You’re by no means obliged to go with a specialist car insurance provider. However, you may find that specialist providers, including Saga and Rias, offer special perks for older drivers. Typical benefits include:

  • a fixed-price promise for three years
  • no upper age limit
  • guaranteed courtesy car
  • up to 180 days of European cover
  • ‘Get You Home Service’ following an accident
  • unlimited windscreen cover

That’s why it makes sense to shop around and see if you can get a cheaper car insurance deal. You may find you can get benefits that your old policy didn’t provide.

How can I get cheap car insurance for the over 60s?

Over-60s car insurance offers some of the lowest premiums around. But here are some other ways you might be able to reduce the cost of your car insurance:

Is telematics insurance suitable for over 60s?

Telematics, or black box insurance, is when your driving performance is monitored using a smartphone app, or small black box fitted to your car. This allows your insurance provider to receive information about your speed and braking, which they can use to lower your premium – if you’re found to be a safe driver.

Young and new drivers often use telematics insurance to help them save money on their car insurance. But a telematics insurance policy can also benefit older drivers.

Many telematics policies base their pricing on mileage. This can make them particularly cost-effective for retired drivers who don’t use their car much.

What extras should I consider?

If you’re already retired, or are approaching retirement, your car-insurance needs are likely to change. You might want to consider adding optional extras to your policy to personalise your cover, or increase your level of protection. Optional extras can include:

  • Breakdown – this gives you roadside assistance if your car breaks down.
  • Legal expenses – this covers any legal fees resulting from a car-insurance claim.
  • Replacement car cover – if your car is being repaired, or is written off in an accident, you’ll be given a courtesy car.
  • Lost keys cover – car keys can be expensive to replace, so this can be a good option if you’re worried about losing them.

When comparing to see what you’d pay for these add-ons, first make sure they’re not already covered as standard.

Where can I compare over 60s car insurance?

Right here at Compare the Market. Our price-comparison tool is quick and easy to use, giving you a list of suitable quotes based on your needs, in a matter of minutes.

Why not compare car insurance with us today to see if you can save?

What do our customers say?

Based on 102,543 reviews, our customers rated us 4.6 out of 5.

Saved £160 an stayed with same Provider
Britpart • 09/09/2021
I got a great price for my car insurance, I would definitely recommend to friend
JTHOM • 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

How much does over 60s car insurance cost?

51% of over 60s customers could achieve an annual premium of up to £248**

51% of over 70s customers could achieve an annual premium of up to
£266***

51% of customers across all age groups could save up to 
£270^^

**51% of over 60s could achieve a quote of up to £248 for their car insurance based on Compare the Market data in December, 2021.

***51% of over 70s could achieve a quote of up to £266 for their car insurance based on Compare the Market data in December, 2021.

^^Based on Online independent research by Consumer Intelligence during November 2021. 51% of customers could achieve this saving on their car insurance through Compare the Market.

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What do I need to get a quote?

To get an over-60s car insurance quote you’ll need to provide us with your:

  •  name, age and address
  • registration number, or model and age of car
  • annual mileage
  • occupation or retirement status
  • length of no-claims discount
  • details of your driving history, including any accidents and motoring convictions.
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Why use Compare the Market?

 

We compare prices for more than 138 car insurance products^^^

92.0% of users would recommend Compare the Market to friends or family^^^^ 

^^^Correct as of December 2021.

^^^^For the period 1st June to 31st August 2021, 8944 people responded to the recommend question. 8,226 responded with a score of 6 or above, therefore 92.0% are likely to recommend.

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Daniel Hutson

From the Motor team

What our expert says...

“Always be as accurate as you can when getting an over-60s car insurance quote. Never put ‘unemployed’ as your job title if you’re retired, as this could ramp up your premium by hundreds of pounds.”