What to know
If your age, experience and claims record are in your favour, a high premium might be due to the type of car that you drive. Those aged 50 and over may have more disposable income and own a newer and more expensive car. Statistically, such vehicles are more likely to be vandalised or stolen, so the cost to replace or repair your car is higher for the insurance company.
Car insurance has in the past been split by a gender divide which dictated that women were less likely to be involved in an accident. This all changed in December 2012 as a result of the EU Gender Directive.
How can I get cheap over 50s car insurance?
Fortunately, there are plenty of ways to reduce the cost of your motor insurance, even if you are over the age of 50:
- Keep your car off the road and/or in a garage at night.
- Install security devices such as an immobiliser and/or alarm.
- Commit to a lower annual mileage policy. Agreeing to restrict the distance you drive can help to lower costs, as insurers equate this to a simple premise – the less often you are on the road, the less likely you are to be involved in an accident.
- Restrict driving to you and your spouse only. Additional discounts may be allowed for adding a spouse to the policy.
- Only purchase the level of cover you need. If you are insuring a car that’s not of great value, you could consider a different level of cover. You may already hold some level of injury cover or breakdown protection.
- Consider paying a larger voluntary excess on your policy. Insurers consider that policyholders are less likely to make small claims if the consumer has to dip into their own pocket each time.
- Don’t pay via installments. Your annual premium might be a big sum to pay upfront but you won’t incur the additional interest charges.
The Final Step
As with any deal you’re looking for, it pays to shop around and, here at Chill Insurance, we compare insurers to find you the right policy. Not only can we arrange your next motor cover without any hassle, but we can do so knowing we’ve got you the right deal. Why not browse our website or let one of our team take it from here?