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Last updated: 13 September 2021
If you are over 50 you will likely have a lot of driving experience under your belt and your car insurance premiums should have reduced significantly since you started driving. However, you shouldn't always accept the first insurance quote you find. Read our useful guide to find out how you can save money on car insurance if you're over 50.
Car insurance for over 50s
A fully comprehensive car insurance policy for the over 50s age group is, on average, £350 per year, making it is the second cheapest car insurance for any age group in the UK. Having payments this low will depend on a number of factors, however, and your insurance policy may cost more if, for example, you have points on your licence or have claimed recently. Drivers in the over 50s bracket may also be able to afford more expensive, more powerful cars which will be more expensive to insure.
Although loyalty to your insurance provider can drive down your premiums year on year, they may not be giving you the best deal. Make sure you regularly compare car insurance prices with other providers so that you are sure you are getting the cheapest possible car insurance deal.
Should you use a specialist for over 50s car insurance?
There are insurance companies who specialise in providing insurance for over 50s, such as Age UK, Rias and Saga. There are benefits to joining a specialist like this, as they will provide more suitable insurance packages, including optional extras such as:
- Emergency driver cover – drivers over 50 are more likely to have a medical condition which can make them more susceptible to emergencies. If this happens whilst you are driving, then it is good to know that you and your vehicle are covered. If you have a medical emergency while driving, some policies will cover somebody to drive your vehicle back home for you.
- Courtesy cars – in the case of major repairs or accident, your insurer will provide you with a temporary vehicle until you're able to drive yours again. These are often offered as standard by over 50s specialists.
- No upper age limit – no matter your age the specialist companies will insure you.
- Unlimited European cover – some policies will provide you with unlimited cover when driving in Europe at no extra cost.
How can I reduce the cost of car insurance for over 50s?
Here are our top tips for reducing your car insurance premiums:
- Avoid auto-renewal – although allowing insurers to automatically renew your insurance policy could save you the stress of knowing whether you are insured, it can also mean you are paying more for insurance. Contact your provider when your insurance is due for renewal to see if there are ways to reduce your insurance premiums.
- Telematics – also known as black box insurance. This is when a device is fitted to your vehicle so that your insurance provider can monitor your driving to calculate your premium. Safe driving is rewarded with lower insurance costs.
- Excess – if you increase your voluntary excess your premium will be reduced. However, make sure you can afford to pay the excess should the need arise.
- Mileage – driving less will lower the risk of an accident and will bring down your insurance premiums until the points you may have accrued are invalid.
- Security – if you keep your car in a garage and the car itself has suitable security measures then your insurance premium will be reduced.
- Paying upfront – paying your insurance all at once may be cheaper than paying in monthly instalments.
- No claims bonus – if you have been driving for a long time and have not had to make any insurance claim then you will likely have accrued a no claims discount. It may be worth paying to protect your no claims bonus because losing it may mean having to pay much higher premiums once you renew your insurance policy.
The best tip getting cheap car insurance is to make sure you compare as many insurance providers as you can. Use our website to help you find the most suitable deal for you.