As a driver over the age of 80, your several years on the road are likely to work in your favour when it comes to working out the cost of your car insurance, especially if you've made no (or few) claims.
With this quick guide we'll talk about the best ways to cut costs for those over the age of 80.
In This Guide:
- Does car insurance cost more for drivers over 80?
- Is car insurance cheaper for women over 80?
- Do pre-existing medical conditions affect the cost of my car insurance?
- Levels of cover available for drivers over 80
- Do I need a renewed license if I'm driving over the age of 80?
- Adding over-80s as named drivers
- Pick the right car
- Watch how you drive
- Compare car insurance for over 80s online
Does car insurance cost more for drivers over 80?
Car insurance tends to get cheaper as you get older, but only until you hit around 70. After that, it goes up again.
Drivers over 80 will, on average, pay more for their car insurance policy than drivers between the ages of 30-70, but still less than much young drivers. Elderly drivers are seen as higher risk principally due to health concerns, even if they have a history of careful driving.
Cutting costs for over 80s car insurance
Nevertheless, there are ways to cut down costs regardless of your age:
- Choose a cheaper car
- Make sure you've got the right level of coverage (you might not need comprehensive cover)
- Choose a reduced mileage policy
- Consider a black box or telematics policy
- Don't take out extras like breakdown cover or windscreen cover unless you need to
Is car insurance cheaper for women over 80?
Until relatively recently, car insurance was cheaper for female drivers due to statistics that showed them to be less at risk of accident than male drivers.
However, legislation introduced by the European Court of Justice as part of a new gender equality directive has now outlawed the practise of basing insurance premiums on the gender of the policy holder.
Do pre-existing medical conditions affect the cost of my car insurance?
One of the reasons drivers over 80 may find it difficult to get cheaper insurance is the increased likelihood of pre-existing medical conditions among people in that age bracket that might affect driving. Visual impairments, a history of strokes, or any developing cognitive impairments, for example, can all increase the likelihood of a traffic accident. If you have a pre-existing condition, you're obliged to declare it to your insurance provider, otherwise your policy could be nullified when you make a claim.
Levels of cover available for drivers over 80
There are three basic categories of cover available for drivers over 80:
- Third Party Only
- Third Party Fire and Theft
- Fully Comprehensive
Those intent on spending as little as possible will find third party only cover best, though if you can afford to spend that little bit more and get more cover you will find that you actually get a lot more for you money.
Do I need a renewed license if I'm driving over the age of 80?
Legally, you are required to renew your driving license once you turn 70, and again every three years after that. If you fail to do so, not only will your car insurance cover not apply, but if you do drive you will be breaking the law and subject to prosecution. Renewing your license once you are over 70 is completely free, and you will be send the appropriate form to do so well in advance of your 70th birthday.
Adding over-80s as named drivers
One great way to cut costs on your insurance if you're over 80 share a car is to become a named driver on the policy. Whoever is the main driver of the vehicle must be down as such on the policy, and not the named driver, but if done correctly and legitimately, named driver insurance can save you lots of money.
Bear in mind that if you are down on the policy as the named driver, but are actually the primary user of the car in question, then you are guilty of what is known as fronting', which is tantamount to insurance fraud and will invalidate any claims you may make.
Pick the right car
Your choice of vehicle will have a strong bearing on the price you pay for your insurance. According to guideline set out by the official Group Rating Panel, every car built to UK specifications is placed in one of 50 categories according to things like engine power and size (more info on that here).
The lower the number group, the cheaper the insurance you'll be offered as a driver over 80, broadly speaking.
Watch how you drive
Insurers like to reward those who drive in the least risky way with reduced premiums. There are two broad aspects to this.
First, reduce your mileage. Spending less time on the road means spending less time at risk of accident and thus the insurance company has less of a chance of having to pay out in the event of a claim. This will be reflected in the price of the policy you're offered.
Second, and with more drastic savings attached, is the possibility of a no claims discount. If you're over 80, then the likelihood is that you've been driving for a long time, giving you plenty of time to build up a no claims discount. If you drive for five years without making a claim you can get discounts of up to 75% on your premiums.
Compare car insurance for over 80s online
The best way to save money is to shop around online and compare car insurance for older drivers above the age of 80 by using a free and impartial insurance comparison service like ours.
Just let us know what kind of policy you're after and we'll pull up a list of the cheapest car insurance quotes on the market for drivers over the age of 80.