Over 50s car insurance

Over 50 car insurance is available through UK insurance companies and specialist over 50 car insurers. It can be cheaper compared to younger age groups as it rewards the experience of the older driver. However, it’s not just age that can affect the price of car insurance for over50s.

In this guide, we explain the benefits of over 50s car insurance, how to get the best cover for your money and what you can do to reduce the cost.

When you are ready to compare over 50 car insurance quotes, you can use the online comparison service to review deals with over 110 UK car insurance providers.

By Ashley Shepherd

Updated 25th July 2024

What are the benefits of over 50 car insurance?

Over 50 car insurance is designed specifically for UK drivers aged 50 or above. Statistically older drivers are safer on the road, have fewer accidents and smaller claims, which is why over 50s can often benefit from cheap car insurance.

The benefits of using a specialist over 50s car insurance company can include:

• No upper age limit
• Improved overseas cover
• Better levels of protection
• Onward travel cover

However, depending on your age and driving experience, general car insurance providers may offer a better deal, so it’s worthwhile comparing both options.

Whilst its true that car insurance for over 50 and 60 year olds can be cheaper, the price starts increasing again once you reach your 70s. Therefore reviewing your motor insurance on an annual basis with specialist and regular insurers is a must if you want to keep on top of the price you pay.

How can I reduce the cost of my car insurance?

As older more experienced drivers, many over 50s naturally benefit from cheap car insurance. However, there are ways to reduce your costs further which are beneficial to drivers who are in their 60s and 70s.

Here’s our top tips for cheap car insurance for older drivers:

Use your no claims bonus

Your no claims bonus (NCB) is the discount you get on your car insurance for not making a claim. The more years you go without making a claim on your motor insurance, the higher your no claims bonus and therefore your no claims discount will be.

No claims discounts vary by insurer but typically you should expect the following:

• 1 years NCB – 30% discount
• 2 years NCB – 40% discount
• 3 years NCB – 50% discount
• 4 years NCB and above – 60% discount

If you make a claim against your policy, you stand to lose some or all your no claims bonus. Therefore, when it comes to your car insurance renewal, you may want to consider protecting your no claims bonus. This comes at an additional cost it however it could be worth it given the savings you can make.

Change your voluntary excess

The excess is the amount of money you are prepared to pay in the event of a claim. The higher the excess, the cheaper your car insurance premiums will be.

Pay in full

Insurance companies usually charge extra when paying by monthly instalments. Therefore, if you can afford to pay in full, you won’t incur these additional fees.

Give accurate mileage

When arranging your insurance, you’ll be asked to provide your annual mileage. The lower your mileage the cheaper the car insurance will be. Therefore, don’t over-estimate as it will cost you more.

However, it is important to be honest as you may invalidate your cover if you severely underestimate your mileage.  

Only choose the cover you need

Optional extras such as breakdown cover may appeal but they will hike up the price, so consider your requirements. You may also find it’s cheaper to buy breakdown cover separately too.

Increase your security

Adding a car alarm or immobilizer or parking your car in a garage or on a driveway are all ways of increasing your security which in turn will reduce the cost of your insurance.

Consider your vehicle

The type of car you own and how you modify it will affect the price of your insurance. The bigger and faster the car, or the flashier the modifications, the more your motor insurance will cost.

Shop around

Car insurance quotes vary by company, often by hundreds of pounds. Therefore, it’s important to compare quotes on an annual basis rather than automatically staying with the same insurer. 

Can you get cheap car insurance for over 60s?

Cheap over 60s car insurance is available, as this age group are considered safe drivers. In fact, according to the Department for Transport, over 60 year old drivers are some of the safest road users and 66% less likely to have an accident than someone in their 20s.

To get the best over 60 car insurance, look at our tips above on how to get cheap car insurance. And as you are over 60, be certain to make the most of any no claims bonus you will no doubt have built up over the years.

Which are the best car insurance companies?

The best car insurance companies are authorised by the Financial Conduct Authority, fairly priced and offer excellent customer services. The cheapest car insurance companies may get your attention however if you’ve never heard of them, it’s probably better to steer clear.

So in addition to looking at price, when looking for the best car insurance companies also consider their reviews and defaqto rating.

Renewing your car insurance

Car insurance is usually renewed on an annual basis. Your current insurer will write to you in advance of your renewal date with details of your new annual or monthly premium. As insurers often charge more for existing customers, we recommend you compare prices every year.

People often assume that as a loyal customer, their existing insurance provider will give them a good deal. However, in reality the cost can often be much higher, which is why it’s important to shop around for the best deal every time your car insurance renewal date comes round.