Drivers over 70 will be rewarded for what could be a long time spent behind the wheel, and a potential long no claims discount built up, with some of the lowest premiums on the market.
As a general rule, older and more experienced drivers pay less for their insurance than younger drivers. But there are always steps you can take to reduce the costs even further. This is particularly important if your income is restricted to just your pension.
In This Guide:
- How does my age affect the cost of my car insurance?
- Choice of Vehicle
- What if I only drive my car very occasionally?
- Compare car insurance for drivers over 70
How does my age affect the cost of my car insurance?
As a general rule, the statistical likelihood of being involved in a car accident goes down as you get older, other things being equal. 17-25 year olds are in the most risky age group on the road, meaning that they get offered some of the highest premiums on the market (again, all other things being equal).
Drivers over the age of 40 are considered to be the safest, given what could be up to 27 years of driving experience.
Drivers over 70 certainly benefit from this, even more so with a good no claims discount built up. A no claims discount is a consistently great way to save money on your car insurance with many providers offering up to 75% off your premiums if you've not claimed for five years.
But there are various other factors that will affect the cost of car insurance for drivers over 70, some for better and some for worse. We'll go through a few of them now so that you can be absolutely sure that you're getting the best deal you can.
Choice of Vehicle
The car you choose to drive can have a big effect on the price of your over 70s car insurance policy.
It all depends on which of the 50 car insurance groups it falls into. Those in the lower numbered groups are the cheapest to insure and generally include smaller, lower powered vehicles. On the other hand, fast sports cars and high performance 4X4s will be among the most expensive cars to insure, falling in the higher numbered groups.
As well as being less powerful and therefore less likely to be involved in an accident, a smaller, less flashy car also has the added bonus of being less attractive to thieves. Both of these things work in your favour when it comes to calculating the cost of your insurance.
Whichever car you choose to buy, keeping it in an off road garage when you leave it unattended will also mean that your premiums are lowered.
Any modifications made to your car will also increase the price of your insurance policy unless, that is, they are geared towards improving security - installing immobilisers, for example.
What if I only drive my car very occasionally?
Don't think that just because you don't drive your car very often it doesn't need to be fully insured.
New Continuous Insurance Enforcement (CIE) regulations mean that it is illegal to own a car that is not insured unless it has been officially declared off road by means of a Statutory Off Road Notification (SORN).
If you share your car with somebody else you could consider taking out a named driver policy and share the cost but otherwise, you'll need full cover or a SORN.
Compare car insurance for drivers over 70
If you want to guarantee the best deals on over 70s car insurance, you should always make sure you shop around online.
A great way to do this and avoid all the hassle of trawling through several websites is to compare quotes with us. It's quick, free and easy - just fill in the quick form letting us know what you're after, and we'll do the leg work for you. We'll pull you up a list of all of the best quotes available so that you can pick whichever suits you best.