Man in his fifties driving convertible with teenage daughter
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Is over 50s car insurance cheaper?

As you get older, insurers usually begin to look at you and your circumstances a little differently. But with lots of information floating around out there, it’s hard to tell whether a few decades of driving experience works in your favour, or begins to count against you as you head into retirement. 

Whatever questions you may have about car insurance premiums for over 50s, we’re here to help. 

Is it cheaper to insure a car once you’re over 50?

It is often cheaper to insure your car once you’re over 50. By the time you reach this age, you’re likely to have many years of driving experience under your belt and, provided you have a good record, insurers may find this reassuring. 

Statistically, drivers in this age category are less likely to be in or cause an accident compared with those in younger age groups[1], and insurers may respond to this by offering lower premiums. 

Many people believe that drivers in their late 60s and 70s start to see premiums rise again, as they’re seen as a greater risk on the roads. But this isn’t necessarily true. Road users in these higher age bands are still relatively less likely to have an accident[2], and there’s often no noticeable change in your premium as you head towards retirement. 

Of course, there are lots of other factors at play. For example, if you’re approaching 50 but have only recently learned to drive, or if you have a less than perfect driving history, you won’t necessarily get the lower premiums that other over 50s could expect to enjoy. It all depends on your individual circumstances. 

How can I lower my premium for car insurance?

While you may be noticing your premiums are going down as you get older, there are a few things you can do to help lower your premium further. These include: 

  • Agreeing to pay a voluntary excess. This means you would contribute more of your own money to repairs, before your insurer would pay out a claim. You’ll usually get lower premiums in return, as you’re offering to take more of the financial responsibility on, but you need to be sure you can pay the amount, if you need to.
  • Pay yearly. In many cases, it can be cheaper to pay for a year’s cover in one go, rather than agreeing to stagger your payments monthly. But you should only do this if your financial situation is not put under pressure in the short term.
  • Secure your vehicle. By reducing your car’s risk of theft or vandalism, some insurers may offer you lower premiums in return. For example, parking your car in a garage overnight instead of on the road.
  • Reduce your mileage. Insurers will ask you for up-to-date mileage figures each time you renew your policy. More distance on the road means a higher risk of a claim, so consider cutting non-essential car journeys, if it’s an option.

Getting car insurance if you’re over 50

At Rias, we’ve been providing our comprehensive car insurance to drivers over 50 for decades. 

With a courtesy car provided as standard[3] and a 24/7 UK-based claims service, there are plenty of reasons why drivers across the UK trust us with their insurance needs. Get your quote today to see what we can do for you.