If you’ve been on the road for many years, you’d expect your car insurance policy to look a little different by now, and reasonably so.
In fact, insurers take into account experience when deciding what they can offer their customers. If you’re wondering what that means for you, read on and we’ll tell you what you need to know about car insurance for both older and experienced drivers.
What is an ‘experienced driver’?
There’s no set definition as to what an experienced driver is. All insurers set their own benchmarks, and most are likely to make gradual changes to premiums and coverage as you spend more time on the road - rather than using just your age to decide whether you are experienced enough.
It’s important to note that somebody who passes their driving test aged 40 won’t be counted as experienced any sooner just because they’re older.
Should my premium be going up or down?
There are lots of things that are taken into account when deciding whether to provide you with an insurance quote, including your occupation, where you live, and the car you drive. Changes to these factors can impact your premium in either direction, so there’s no definite answer as to how the amount you pay for cover changes over time.
However, your premium may go down as you spend more years on the road, and this can be for two reasons:
The first is that you’ll be building up your driving history. If you’ve spent many years on the road without driving convictions, while building a no claims discount, insurers will be likely to consider you less of a risk.
Conversely, if you’ve spent 30 years on the road, but have convictions and made lots of claims, your long driving history is unlikely to work in your favour.
Should I change my level of cover?
If the years start to pass without a single car insurance claim being made, it can be tempting to question whether you really need all that cover. After all, you’ve shown yourself to be a safe and competent driver.
However, if you have comprehensive cover, it’s recommended that you stick with it, as you never know when you might need to rely on your policy.
No matter how experienced and sensible you feel you are as a driver, a lower level of coverage, such as third party or third party fire and theft, might not cover you in a number of situations.
It’s also worth bearing in mind that switching to a lower level of cover is not guaranteed to save you money. In fact, most insurers will be able to offer you comprehensive car insurance at a good and fair price, provided you have a good driving record.
How can I get cheaper car insurance?
If your insurance premium isn’t coming down as quickly as you’d like, or you’d just like to find ways to lower your quote, there are some things you can try.
- Think about insurance next time you change vehicle. Every make, model and trim of car is sorted into insurance groups. These bandings go from 1 to 50 and reflect the costs and risks associated with that given vehicle. Several insurers take these bandings into account when calculating your quote, so depending on your provider, driving a car from a lower group could help lower your premium.
- Focus on security. Keeping your car in a garage overnight can be a quickfix to bring your premium down.
- Add or increase your voluntary excess. Most car insurance policies will come with a compulsory excess: the amount you’d have to contribute towards any claim before it can be paid. By adding a voluntary excess to your policy, in addition to the compulsory amount, you will increase the amount you’d agree to cover on any claim. This reduces the potential costs to the insurer, so you can expect a cut in your premium in return. However, you do need to make sure you’d be able to pay your excess in its entirety, should you need to claim.
If you’re looking for comprehensive cover you can count on, Rias is here to help. Find out what we could do for you when you start a quote for our car insurance today.