How to Lower Your Car Insurance as an Older Driver

We’ve all read the headline-grabbing stories of elderly drivers heading the wrong way up the motorway or holding up traffic with slow decision making. But these are isolated, high profile instances. When it comes to accidents, those over the age of 70 are actually among the safest drivers around.

According to this BBC article, the Department for Transport found a startling difference in the number of accidents attributed to those over 70 compared to those almost 50 years their junior. In 2011 there were 10,974 accidents involving the older group, whereas those aged between 17 and 19 suffered 11,946 – and the 20 to 24 age group more than doubled that tally, with 24,007 reported.

So it makes sense that older drivers pay less for their car insurance. They have the experience to know what could be around the next bend. As such, they can head to a dealer safe in the knowledge that they can choose almost any car and not have to pay the sort of huge insurance premium young drivers have to contend with.

Yet there are a number of ways older drivers can lower their insurance premium even more.

Shop around

As this Daily Telegraph report shows, drivers lose £137 on average by not switching to cheaper insurance deals. Fifty percent of drivers miss out on a 23 percent saving on their premiums by doing so. Make sure you do your due diligence each year to see if you qualify for a lower premium.

However, the choice available to you lessens as you get older, since many policies have upper age limits. If this is the case, your current insurer should recommend contacting a broker for your next policy.

Check out policies from well-known providers such as Age UK and Saga. 

Switch for retirement 

If your daily commute is now history, your newly lowered daily mileage means you’ll be entitled to a cheaper insurance policy. Be sure to let your insurer know when retirement is due for you.

Downsize your drive

You can save even more cash by downsizing your car and opting for one with a cheaper insurance grouping. If a smaller size is no issue for you, go for a model with good reliability – the cheaper a car is to fix, the less you’ll pay to insure it.

Secure your car

The less inviting your car is to thieves, the less your insurer will charge you. If you park your car in a garage or on a drive, let your insurer know so they can adjust your policy accordingly.

Black box driving

Ask your insurer if they offer a black box policy. This means a telematics device is placed under your car’s bonnet and data on your driving is sent back to your insurer. If you can prove you travel relatively few miles and drive safely, your premium will fall.

Change the way you pay

Sticking to the monthly payment plan you’ve always had almost always works out more expensive in the long run. By paying for your year’s insurance upfront, you’ll cut out interest fees and admin surcharges.

Patrick Vernon is a freelance writer, with experience writing for a range of magazines and websites, researching various topics in order to offer useful info and content to the public.

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