If you're searching for car insurance, it could cost less than you think. Searching for suitable car insurance may seem like a lot of work, but it can potentially save you money. Did you know you may save even more if you have a good driving record? So it's always worth searching because you could save more than you think.
Do older drivers pay more?
Not always. If you are eligible for a no claims discount and have a good driving record, you might not pay more. In addition to this, if your annual mileage is low and you have a black box added to your car, you could pay even less.
Car insurance providers tend to charge older drivers less anyway. This is because we are more experienced drivers and tend to take fewer risks.
Older drivers who would like comprehensive car insurance could pay more. Cover such as this can include:
- Breakdown cover
- Windscreen cover
- Legal expenses
- A courtesy car
- No claims bonus protection
Many drivers that have all these options also have peace of mind.
Put as much effort into finding the right car insurance as you would searching for the right home insurance or any other type of cover.
Things older drivers need to consider
When you reach 70, your driving licence expires. The DVLA insists that anyone who wishes to continue driving when they reach 70 renews their licence. The DVLA wants to make sure that you are still safe to drive your car. Do not worry; many motorists can still get behind the wheel. The DVLA simply wants to check you have no health concerns that could affect your driving.
If it is found that your health could affect your passengers or other drivers, they may not renew your licence. Try not to worry too much about this. Most drivers who have medical conditions are already aware that they need close monitoring.
Where can older drivers find car insurance quotes?
70-year-olds and even older people can find insurance premium quotes online. Comparison websites can provide a range of competitive quotes for older drivers. There are even some insurance providers that exclusively cater to over 60s. Their motor insurance premiums can offer legal protection, a comprehensive policy, a courtesy car, and other optional extras. Many well-known insurance providers offer similar policies. However, their levels of cover might not be the same.
Most comparison websites will direct you to the best car insurance company for your needs but remember that the cheapest quote won't always be the best.
Medical conditions and over 70s car insurance
You must, by law, tell the DVLA if you have a medical condition that could affect your driving. As you're now in an age group that's potentially more prone to medical conditions, your health is of concern.
Medical conditions that could affect how safe you are on the road include:
- Cancers (when they're quite severe)
- Neurological conditions such as multiple sclerosis
- Parkinson's disease
- Strokes (when they're quite severe)
When you inform the DVLA of your medical condition, you might not automatically be banned from driving. However, you may be asked to attend a medical examination. The examination will take place to assess your condition and how it affects your driving.
Younger drivers with similar conditions may also be asked to attend a medical examination. Once the examination is over, the DVLA will let you know how long you'll need to wait for the result.
Can over 50s, 60s and 70s get cheap car insurance?
Yes. Most older drivers can get cheap car insurance. Drivers who have more experience on the road are deemed to be relatively safe drivers. Their driving history is usually more extensive than younger drivers, and they tend to take fewer risks.
When searching for a reputable insurer, you should:
- Ensure the company you opt for is regulated by the Financial Conduct Authority (FCA).
- Ensure that the company's trading name is registered and they offer you the financial services you need. For example, they offer you the chance to spread the cost over a year, should you wish to.
- Make sure you correctly enter your car's details. There are certain types of cars that can increase your insurance premium. Fast and very old cars may be more expensive to insure. If you're buying a new car, check the insurance group before purchase so you can get an idea of what the insurance will likely cost.
- If you're already with the insurance company you've found, have your insurance policy or reference number ready. They will need it if you wish to make a change to your policy.
- You will also need to have your registration number to hand, along with your full name, address, date of birth, and the details of any claims you have made. Make sure you also have your driving license with you. Click here to learn more from our earlier article.