Over 50 Car Insurance
Insurance rates for drivers in the over-50 age range are the reward for being members of the safest drivers on the road. Experienced motorists from ages 50 to 70 statistically have fewer accidents and fewer traffic citations, which means insurance company vie heavily for those customers. If you are between 50 and 70 years of age, you may qualify for significantly reduced base premiums and terrific driver bonuses for regular, temporary or even commercial business car insurance if you are a business owner. Speciality companies who insure only drivers in this insurance group may offer the cheapest quotes or added features to win your insurance business.
Discover terrific car insurance deals deserving of your over-50 status: Use our free tools and the speed and convenience of the Internet to compare quotes from companies that want your coverage business. You have earned every reduced rate and discount and bonus program an over-50 car insurance plan may offer. Compound your initial savings with a no claims bonus, and your rates on a renewal policy drop even more. When all discounts, bonuses and rate reductions are computed, over-50 car insurance may be the cheapest auto insurance available.
Age and Car Insurance Rates
All auto mobile insurance carriers consider statistical data that relates to every motorist’s situation when determining auto insurance rates. Your claims history, driving record, residential postal code, age and the type, make and model of vehicle combine influence over your premiums. Your age impacts your rates greatly.
Auto mobile insurers compute their financial risk based on the statistical probability of a motorist being in an accident or the car being vandalised or stolen. If you are considered a high-risk motorist because of your age, a great number of claims originate from motorists in your age group. Because drivers over 50 have few accidents, the age group of 50 to 70 years is considered the safest one to insure, for those group members cause little financial drain for an insurance company. Because of that statistical data, drivers between 50 and 70 years old enjoy low insurance premiums. Every insurance company will vie for the attention of this age group. Companies that specialise in insuring this age group reduce overall financial liability by selling insurance to this primary group, and they can and do often present the best car insurance deal in your area. Discounted premiums, higher safety bonuses and additional benefits are three commonly used attractions for over-50 drivers. Added features often include breakdown cover, tyre cover and tow service. Some insurers even add an option of a hired car whilst your car is being repaired.
Although age is one important factor, your driving record can influence your offered quotes just as much. Your opening computation may show a low rate for your over-50 group inclusion, but a high number of penalty points on your licence and a frequent citation history can negate any age-related discount, possibly even escalating your rate over young driver insurance premiums. The possibility of cheap car insurance for any age group comes with a clean driving record, a clean driving licence and a clean claims history.
Your UK driving licence expires when you reach 70 years of age. Physiological changes in an ageing body often causes slower reflects and slight vision degradation. Older drivers can still drive, but they must first reapply for a licence that is valid for up to three years. They still must carry insurance as well as a renewed licence to drive in the UK legally. Fortunately, senior drivers incur no expense to renew licences.
Over-50 Comprehensive Benefits
If you want your car to continue looking terrific, comprehensive insurance may be the policy type for you. Comprehensive policies for the over-50 driver offers the only protection available your own vehicle. Other coverage types protect others’ property, but comprehensive covers damage to your own car, including the windscreen, windows, mirrors as well as all the third-party and third-party fire and theft benefits. Any detraction from a good appearance of a car can affect its resale value, and speciality companies offering comprehensive cover for over-50 drivers understand that caring for the car can be vitally important.
For so many motorists over 50 years of age or under it, comprehensive car coverage is the only level of insurance that makes sense. A vehicle represents an investment, whether it’s simply for temporary transportation or long-term escalation into vintage car status. Damage to the body, glass or frame detracts value, and value means money. Over-50 car insurers understand well that the mature driver often wants to maintain a vehicle’s ownership and a car’s condition for longer periods.
If you own your vehicle, you may opt to save a few pounds and select cheaper auto insurance with coverage through a third-party or third-party fire and theft policy. Third-party fire and theft offers the same to-others liability coverage, but it extends limited protection for your own vehicle. A third-party fire and theft policy will cover damage or destruction of your vehicle through fire and theft, as the name declares. It also covers loss or unrepairable damage to personal possessions in your vehicle. Common items targeted by vandals and thieves include car stereos, mobile phones, computer tablets and laptops, GPS devices, music or video disks, clothes, books and many other items often kept in a vehicle either permanently or temporarily. Either third-party cover usually provides some level of protection against legal claims brought against you regarding accidents you may have caused.
Mature Driver Discounts
You may be able to increase the reduction on premiums that your age group awards naturally. If affordable, increase your voluntary excess: By reducing the immediate financial liability, the insurance company rewards you immediately by reducing your car cover premiums. Engaging Thatcham-approved security devices like high-performance locks, immobilisers and even vehicle tracking devices reduces financial risk of theft for both your insurance carrier and you, and you are rewarded for that as well. Parking your locked and secured vehicle in a locked garage at night reduces the chances of theft and vandalism. Yes, that precaution results in lower premiums too. A no claims bonus at the end of each policy term will grant lower premiums on a renewal policy. That accrual can reach discounts of up to 70 per cent over time – a huge discount potentially worth hundreds if not thousands of pounds.
Take full advantage of every possibility, program and discount to lower your over-50 car insurance premiums. You’ve earned the savings you will enjoy. Above all, compare rates for over-50 car cover to ensure you know of various plans and prices that will keep more money in your pocket whilst still gaining quality car insurance coverage.