Is over 60s car insurance cheaper?
People over 60 are often considered as amongst the safest drivers on the road, so car insurance is relatively cheaper for this age group. However, the actual cost of cover will depend on other factors including your personal circumstances and driving history.
Decades of experience behind the wheel and many years’ no claim discount can count in your favour when insurers are calculating your premium. Also, insurers tend to believe that the over 60s are less likely to take risks, such as speeding and driving with distractions, so there’s less chance they will be involved in an accident. The over 60s can therefore benefit from cheaper premiums than younger drivers.
How is over 60s car insurance calculated?
Insurance providers look at numerous risk factors when it comes to calculating your car insurance premium. These include:
- Your claims history: Making a claim can often lead to an increase in your car insurance premium
- Your no-claims discount: Many insurers offer no claims discounts to drivers that don’t claim on their car insurance
- The type of car you drive: Vehicles are categorised into car insurance groups based on their value and performance, and those at the higher end of the scale are the most expensive to insure. Find out which insurance group your car is in with our car insurance group checker
- Where you live: Your postcode can affect how much you pay for car insurance. If you live in a high-crime area, your premium will likely be higher due to the increased risk of theft and vandalism
Which policy do I need?
There are three main policy types to choose from:
- Fully comprehensive: Protects you, your vehicle and other drivers from any damage you cause, as well as repair costs, medical expenses, fire damage and theft of your vehicle. As well as offering the most cover, fully comprehensive insurance is also usually the cheapest on average
- Third-party, fire and theft: A TPFT policy covers repair costs for other people, their cars and their property, as well as your own vehicle if it’s stolen or damaged by fire
- Third-party: Is the minimum legal requirement for motorists – a third-party policy only offers cover for damage you cause to other people, their cars and their property, and it’s also usually the most expensive of the three
Should I use a specialist over 60s car insurance provider?
If your driving record is clean – without a history of accidents or points on your licence – you’re more likely to be offered a good deal on your car insurance by any insurer. However, there can be advantages if you buy insurance from providers who cater specifically to the over 60s.
These generally come in the form of cheaper features you can add to your policy, including courtesy cars if you do have an accident and emergency driver cover if you are taken ill at the wheel. They also tend to have more favourable upper age limits, though your premiums will probably increase if you’re driving into your 80s.
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 a few more ways that you might be able to reduce the cost of your car insurance:
- Increase your voluntary excess: A higher voluntary excess lowers your premiums, but you will pay more if you ever do claim, so make sure you could afford to if it came to that
- Secure your vehicle: Anti-theft devices such as steering wheel locks or immobilisers can bring your premiums down
- Pay annually: Spreading the cost over monthly instalments will cost you more than paying an annual fee
- Consider telematics insurance: A telematics policy can help your insurer better evaluate your driving and for a potential discount
- Don’t auto-renew: Instead of automatically renewing your policy each year, use MoneySuperMarket’s car insurance comparison tool to ensure the best possible premiums
What additional features should I consider for an over 60s car insurance policy?
If you’re purchasing over 60s car insurance, there are some additional features that you could include to give you peace of mind when driving:
- Breakdown cover: If your car breaks down, you’ll be covered for roadside assistance
- Lost keys cover: Car keys can be expensive to replace, so this can be a good option if you’re worried about losing them
- Legal expenses: This pays for legal fees you might have to pay as a result of a car insurance claim
- Replacement car cover: If your car is undergoing repairs or is written off in an accident, you’ll be provided with a courtesy car
- If you’re considering any of these add-ons, first check that you’re not already covered as standard.
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
- Length of no-claims discount
- Details of your driving history, including any accidents and motoring convictions
Compare cheap car insurance quotes for over 60s
Comparing car insurance quotes with MoneySuperMarket is a quick and easy way for over 60s to find affordable cover. All you need to do is tell us a little about yourself, the car you’re insuring and your driving history, and we’ll put together a list of quotes tailored to your needs.
You’ll be able to compare policies by the overall monthly and annual cost, the coverage you’ll get and the excess you’ll need to pay to make a claim. Once you’ve found the deal you want, just click through to the provider to finalise your purchase.