The cost of fuel has reached unprecedented heights, with reports of petrol now costing £1.20 a litre or more in certain parts of the UK. Yet in spite of this, and the effect that the rising cost of living is having on household budgets all over the country, the over 50s are determined to keep their cars on the road, according to new research1 commissioned by RIAS, insurance specialists for the over 50s.

75% of the over 50s refuse to give up driving for financial reasons, and the figure is even more pronounced for the 50-54 year old age group, of which 80% were adamant they would keep on motoring. Although the percentage drops with age, there is still an overwhelming number of the over 70s (70%) who agree with that sentiment. The survey also showed regional variations in how people are coping with petrol price hikes, with 86% of Scotland’s drivers most willing to keep shelling out, but the lowest percentage, 65%, of people in London interested in doing the same.

The biggest reason given for not giving up driving in spite of rising petrol costs is loss of independence, with 42% of mature UK drivers naming this as most important. Again, there are regional variations, with 66% of drivers in East Anglia putting it as their chief concern, the highest rating in the poll, whilst in the UK’s capital, independence was given as the second most important reason (30%), as Londoners put the loss of flexibility at the top of their list instead (34%).

Another factor keeping over 50s on the road is the worry, for 15%, that shopping would become difficult without a set of wheels. This is possibly attributable to the prevalence of out-of-town retail centres and the suburban positioning of giant supermarkets which make shopping less accessible to non-car drivers. In fact, difficulty shopping was the main fear for mature Welsh drivers (34%), followed by Northerners (23%) though of lowest concern to people living in the East Midlands (8%). In Scotland, London and the North West, comfort was felt to be a strong reason for keeping a car, while UK wide, the ability to use it for holidays and days out was significant.

“The price of petrol might be shooting up, but it’s been extremely enlightening to find out how determined drivers over 50 are to carry on driving almost regardless of cost. This survey demonstrates the significant store the over 50s put on staying independent – and driving a car is clearly a big part of that, ” says Janet Connor, Managing Director of RIAS which specialises in motor insurance products for the 50+ age group.

On the bright side for over 50s motorists, RIAS offers its customers high quality cover at competitive rates, which helps to keep down the overall costs of running a car. In addition RIAS will insure drivers up to 100 years of age, which is something many other insurance companies either won’t do, or charge a lot more for.

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1 Research prepared for RIAS by BMRB Omnibus (Base: All adult 50+, 486 male & female, 06.06.08)

Janet Connor, Managing Director of RIAS is available for further comment and interview. To arrange an interview with, or photography of, Janet, please call Sadie Sheppard on 01202 254489 or e-mail ssheppard@rias.co.uk

About RIAS

• RIAS was established in 1992 and is a specialist provider of insurance products for the over 50s age group

• RIAS negotiates with a panel of insurers to secure competitive, value for money products

• RIAS has over 970,000 customers and employs over 1,200 people across two locations - Bournemouth and Belfast

• In July 2007 RIAS’ home insurance contents and buildings policies received four ‘Best Buy’ awards from Which? magazine

• In December 2007 RIAS won the ‘Personal Lines Broker of the year” award at the Insurance Times awards

RIAS is part of Fortis (Insurance UK), a leading provider of award-winning personal and commercial lines insurance solutions in the UK and the 2007 British Insurance Awards 'General Insurer of the Year'. The insurer's successful customer-centric strategy has been founded on aligning its activities to how customers want to buy insurance, combined with delivering high quality products, manufactured at costs better than market norms.

Fortis's unique multi-distribution capability enables it to deliver products face-to-face, by phone (inbound and outbound), over the Internet and via SMS technology. Aligning its business activities with its partners' general insurance strategies enables Fortis to offer end-to-end white label capabilities in product development, marketing, campaign management, sales, fulfilment and claims - providing a seamless integration with partner brands.

Insuring in excess of 6.7 million customers and working with a range of partners, Fortis is recognised for delivering consistent and high-quality customer experiences. It employs 2,901 people as of 31/12/07 with a head office based in Eastleigh and others in Belfast, Bournemouth, Gloucester, Haywards Heath, Redditch, and Stoke-on-Trent. In 2007, its profit before tax and interest (excluding impact of weather related events) was £92.2 million and its GWP was 757.8 million.

For further information please contact:

Sadie Sheppard RIAS Public Relations 01202 254489 ssheppard@rias.co.uk

www.rias.co.uk