Years of experience on the roads can lend itself to cheaper car insurance for the over 50s.
In September 2015, Admiral’s average premium for new customers over the age of 50 was £340. Compare that to the overall average premium at £560 and over 50s’ insurance policies are 39% cheaper.
So why is that older drivers can often get a better price?
Well, a lot more experience on the roads usually means you are less likely to have an accident. This can also mean that you may well have built up years of No Claims Bonus.
The safer a driver you are, the better your price will often be as you’ll be viewed as a lower risk.
You may also return a better quote price if you drive a reliable, mid-range car.
Of course there are still factors which could see you facing a higher premium such as living in a high crime area or driving an expensive or powerful car. Claims and penalty points could also have a negative effect on your insurance price.
How else can I get cheaper insurance?
No matter what age you are, there are certain things you can do to help bring down the cost of your car insurance.
Here are a few things that might make your quote cheaper:
- Pay your premium annually rather than monthly; this will avoid interest charges
- If you know a responsible driver, see if adding them as a named driver onto your policy affects the cost at all. But beware of fronting
- Pay attention to voluntary excess; a higher excess will result in a lower premium but make sure you can afford to pay it should you ever need to make a claim
- Be precise about your job; occupation is a rating factor and it’s important that you’re as accurate as possible when choosing your job title
- Be accurate with your predicted mileage as this can affect your premium; if you’re unsure use an online mileage calculator to prevent over or under estimating
- Check if fitting security features such as alarms or dash cams will reduce your premium
If you are over 50 and looking for car insurance then why not get a quote from Admiral and see how much you could save?