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Car Insurance Quotes Uk Over 60 – The UK population is ageing, people are working later and there are more and more elderly drivers on the roads. Fortunately, there are many car insurance options for older drivers, but how do you find the best deals and what factors affect your premiums? Also, why is there a common misconception about the safety of older drivers?
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Car Insurance Quotes Uk Over 60
When looking at car insurance for seniors, there are many anomalies that you may not even know about. First, the following graph provides an overview of the total number of driving licenses in the UK by age group and then by gender. Many people are surprised to learn that more people over the age of 80 have a full license than young drivers between the ages of 17 and 20.
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In fact, of the 40.6 million full driving licenses issued in July 2021, 20.6 million were under 50 and 20 million were over 50. So the insurance market for the 50s, 60s, 70s and 80s is probably more competitive than you thought.
It is a common misconception that the older the driver, the greater the risk of being involved in an accident. As a result, you’ll often notice that car accidents involving older drivers, sometimes 90 or older, tend to make headlines. Then we get the stereotypical appeal that older drivers are more dangerous and should have their licenses revoked. But is this the case for all older drivers?
The BBC published an article in 2016 on accident rates, using research data from Swansea University. Research has shown that 70-year-old drivers have 3-4 times fewer accidents than 17-21-year-old drivers. As the graph below shows, the number of drivers involved in crashes per billion miles driven steadily declines with age. . From 17 to 70 years old. Then this ratio increases sharply with the driver’s age.
The table below also supports the claim that the age group between 60 and 69 is the safest for driving, which may surprise many.
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It is not entirely clear why drivers in their 60s appear to be the safest, although it may have something to do with driving experience, confidence and general health. Although there are exceptions to the rule, insurance premiums generally increase for policyholders over 70.
The whole concept of car insurance is risk/reward. The more at-risk the driver is, the higher the premiums. Therefore, the following table confirms that drivers in their 60s are still the safest age group. However, as you will see below, 56 to 60 year olds have the lowest average claims for insurance.
It’s easy to fall into the trap of automatically assuming that everyone will appreciate the safe driving record of people in their 60s. Unfortunately, this is not always the case. Non-specialist insurance companies may offer higher premiums to older drivers as this is not their primary market. Therefore, it is imperative that you shop around and look at the many insurance companies that now offer special auto insurance for older drivers.
Equality laws mean it is now illegal to charge men and women different insurance premiums, all other things being equal. Therefore, the infamous concept of charging male drivers more than their female counterparts based on perceived gender risk no longer exists.
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Although it is illegal to discriminate against someone because of their age, there are many factors to consider as you get older. Although these are generalizations, there are many exceptions to the rule, but many of us recognize the following things:
General insurance premiums are calculated by analyzing the average driving behavior of a person in your age group. Therefore, the above health problems as well as unique health challenges may arise. You must inform your insurance company of any health problems; otherwise, it may void the insurance.
It is essential to be aware of your own potentially failing vision as you age. You must renew your driver’s license at age 70 and every three years thereafter. The permit does not need to be renewed in subsequent years and the appropriate form must be submitted just before your 70th birthday.
If you want to lower your car insurance premiums as you age, there are many factors to consider. You may be considered a mature driver if you are over 50 and have many years of experience, but you can still reduce your premiums if you:
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Insurance companies take your occupation into account when calculating your car insurance premiums. A report by Insurance Business Magazine highlighted the ten most expensive and cheapest auto insurance jobs.
Those who follow the car insurance policy classification categories know that they change regularly. Watch out for the press!
Although the insurance company cannot reclassify your policy mid-term, it can review your premiums after renewal. So it’s always a good idea to get multiple quotes for your renewal date to get an idea of what other insurance companies would charge you. In some cases, this can also be used as a means of negotiation with the existing insurance company!
If you are looking for car insurance quotes as an over 50, you need to get competitive quotes from the best car insurance providers. There are more than 50 car insurance specialists, including:
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According to a recent report by the London Evening Standard, the average annual car insurance premium for a 45-year-old driver is £575. A similar quote for a 55-year-old driver, assuming all other things the same, was £468. This fits perfectly with the steady decline in the accident rate, which stopped in the 1960s and then starts to rise again.
Statistically, drivers in their 60s are the least likely to be involved in an accident, so car insurance rates are relatively competitive in this area. If you have a clean driver’s license, no claims, and are in relatively good health, you will likely get the lowest car insurance rates ever offered. As an experienced driver, you will usually find that insurance companies include many extras such as:
It is essential that you compare car insurance quotes and quotes from specialist car insurers with traditional providers. They won’t be the cheapest because they are professionals. However, specialist insurers can help if you have a problem, such as a health problem or a proven driving record.
As discussed above, when you start considering comprehensive car insurance for the over 70s, you will find that premiums start to increase. The previous graphs show that the number of accidents and injuries has increased significantly among people over 70 years of age. While a driving history, no claim premiums and a clean medical history will help, premiums generally increase in this age group for all drivers. If you want to reduce your fees and save money, you have several options:
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It’s unfortunate, but statistically, the risk/profit ratio is starting to shift towards insurance companies whose managers are over 70 years old. Fortunately, it’s still a relatively competitive market and there are still plenty of options available to you. We all know we need to gather some quotes as we approach renewing our car insurance, now is the time to do it. As you will see, not all insurance companies share this opinion!
As you approach the age of 70, you will receive a letter from the DVLA asking you to carry out a self-assessment. The self-assessment form contains questions about your health, fitness, health and vision. You must renew your license every three years, but no medical examination is required.
Although most specialist car insurance companies do not have an upper age limit on their policies, your application may be rejected for a number of reasons. These may include:
You will notice that many insurance companies that offer car insurance to the over 80s will ask for confirmation that you have been deemed medically fit and safe to drive by the DVLA. Although some people live into their 90s or beyond, it can be difficult to know when to call it a day. The problem many senior drivers face is that their vehicle is their main form of independence. If we remove them, much of their social life and integration into the community is lost.
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Senior drivers are strongly advised to request multiple quotes when looking to insure their vehicle. This is a sector of the market that is dominated by professionals and many people use the services of an insurance broker. Unless you have a particularly spotty driving record, you can probably get a quote, but there will be a significant difference between your 60s and 70s.
If you are looking for auto insurance quotes, it may be helpful to touch on the subject of home insurance. As many general insurers offer a wide range of different policies, such as car and home insurance, you may be able to negotiate a package deal. So how can insurance companies offer discount plans?
When an insurance company acquires a new customer, it likely incurs additional costs, such as advertising or a commission to a third party. However, contacting your insurer about auto and home insurance will offset the advertising/commission costs to some extent. In this way, the insurance company can give a discount on the entire package while maintaining the level of profitability. You’ll be amazed at the potential savings!
Many people will probably be surprised to see some of the statistics in this article. While older drivers often
