As we age, our driving habits and capabilities change, and it is only natural that our car insurance premiums should reflect these changes. UK pensioners are a unique group of drivers, with different driving patterns and requirements than younger drivers; so it makes sense for insurance providers to offer pensioners lower premiums than they would otherwise qualify for.
How can we find these cheap premiums? Well one may may be to click the link above, and compare quotes!!
Insurance Providers on the panel include these great companies:
Why are pensioners good car insurance customers?
- Firstly: research shows that older drivers are generally safer on the roads than younger drivers. According to the Royal Society for the Prevention of Accidents, drivers aged 70 and over are involved in fewer accidents per mile driven than any other age group. This is likely owing to the fact that older drivers have more driving experience and are generally more cautious and risk-averse whilst driving.
- Fewer miles driven: Pensioners tend to drive fewer miles per year than younger drivers. The Royal Society for the Prevention of Accidents reports that drivers over the age of 60 tend to drive around 25% fewer miles than those aged between 40 and 49. This means that pensioners are exposed to fewer risks on the road, and therefore should pay lower premiums.
- Pensioners are more likely to drive low-risk vehicles: According to research by insurance company LV=, pensioners are more likely to drive sensible vehicles such as small hatchbacks and saloons, which are associated with cheaper insurance policies.
- No commuting: according to research by the RAC Foundation, pensioners are less likely to use their cars during the morning and evening rush hours than younger drivers, so they are exposed to less risk on the road during these times when impatient, or harassed, motorists may be rushing to or from work.
- Leading on from that: pensioners are more likely to drive during off-peak hours; so reducing congestion and lowering accident rates generally.
- Finally: there are legal requirements in place that prohibit age discrimination in insurance pricing. The Equality Act 2010 states that it is unlawful to discriminate against someone based on their age when providing goods or services, so providers are required to provide fair and equal treatment to all customers.
Since statistically the more mature generations have a good safety record overall providers cannot charge them more just because they are ageist, or think that pensioners can afford it!
However: the fact you are a pensioner isn't the only factor that providers consider!
Other important factors are:
- How much experience you have had; older drivers have not necessarily spent a great deal of time on the road in the past.
- Your driving record; when we drove cars without all the modern safety features such as ABS, traction control, collision warnings etc accidents were more common than they are today, and any claims that you have to make in the past might still be held against you.
- Your car make and model; this can affect not only accident rates but also how much repairs, and replacing damaged parts, can cost. Driving a comfortable limousine may be very pleasant in our later years but we may find insurance costs reflect it's size and value.
- Your location; if you live in a quiet and safe neighbourhood then you will be okay but if your postcode suffers from high crime or accident rates then your premiums will suffer as a result.
- Security; providers like to see that your car is being taken care of as much as possible. Keeping it in a garage, or at least on a private driveway overnight, can help to keep it safe but parking it on the street (or, worse still, on a busy road) leaves it wide open to every passing careless driver or opportunistic thief.
Does this mean I won't get cheap car insurance automatically? '?
Collectively all these factors can often be far more important to providers than the fact that you are a competent driver of pensionable age; but just about every company assesses them in a different way, which is why premiums can vary so much. That looks like an excellent reason to compare quotes to me!
