Over 50s van insurance

Age is one factor insurers use to estimate how risky you will be to insure and thus how much you’ll need to pay for coverage. Older drivers come out well. Statistically, they’re less likely to be involved in accidents, probably due to a wealth of driving experience and the caution and wisdom that comes with age.

Drivers over 50 pay some of the lowest premiums for their car insurance and insurance for vans is no different. However, the trend reverses with very old drivers, who may develop health conditions that impair their driving and slow their reaction times. Some van insurance policies will have an upper age limit that excludes these drivers from coverage.

Age isn’t the only factor influencing your van insurance premiums. Insurers will also ask about your driving history and if, as a driver over 50, you’ve been on the road for years but racked up plenty of traffic citations, been involved in accidents, and made many insurance claims, you’ll pay higher premiums. Your occupation and address (area) will also influence your insurance costs.

Even though over 50s typically pay less for their van insurance than other drivers, van insurance can still be a significant expense and you’ll want to knock any amount off your premiums that you can.

Here’s how to trim costs on your van insurance:

• Get private van insurance, if applicable: If you’re retired and exclusively using your vehicle for recreational purposes like sports and camping, even if it’s a vehicle you previously used for your trade or business, you can cover it with a private use insurance policy. These are typically less expensive than commercial use insurance policies.
• Increase your van’s security: Beefing up your van’s security, with an industry-approved alarm system, immobiliser or tracker, and keeping it in a locked garage or yard or somewhere well-lit at night will reduce your risk of having it stolen or vandalised. Consequently, insurers will reward you with lower premiums.
• Reduce your mileage: Are you driving around town in the van you mostly bought to take your surfboards to the beach/bring your musical instruments to your gig/ferry your 12 grandchildren to your holiday home? The more mileage you rack up on the vehicle, the more you will pay on your premium. Cut your mileage on your van, and you’ll see your quotes fall.
• Get a telematics policy: Are you the safe driver that your age implies? Have a black box installed in the vehicle to show your insurer just how cautious you are with your van. You’ll earn points—and discounts on your premiums— for accelerating slowly, taking turns smoothly, not driving at night, and not getting into fender benders and scrapes.

In most instances, mainstream insurers will provide appropriate and affordable cover for van drivers over the age of 50.

Some of these policies may have an upper age limit, however. This can be as low as 65, so older drivers may need to seek out specialist policies. Specialist policies generally don’t have an upper age limit, so you can get insurance into your 90s - provided your health and vision allow you to still be behind the wheel.

Over 50s policies can also come with some specialised cover tailored for older drivers. This can include

• courtesy cars: giving you an equivalent vehicle while yours is being repaired
• emergency driver cover: policies that automatically cover another driver who gets behind the wheel to take you and your vehicle home, or to hospital, if you’ve had a medical emergency
• unlimited European cover: extension of your coverage while you’re on holiday in Europe, which will be a boon for pensioners who are frequent travellers