Over 50s car insurance

Over 50s car insurance is available through UK insurance companies and specialist over 50 car insurers. It can be cheaper compared to younger age groups as it rewards the experience of the older driver. However, it’s not just age that can affect the price of car insurance for over50s.

If you are ready to compare over 50 car insurance quotes, the online comparison service will help you compare over 110 UK car insurance providers.

Alternatively if you want to understand more about how over 50s motor insurance works, the benefits, how to get the best cover for older drivers and what you can do to reduce the price you pay, the following guide will help.

Guide to over 50 car insurance

By Ashley Shepherd

Updated 1st December 2023

What are the benefits of over 50 car insurance?

Over 50 car insurance is designed specifically for UK drivers aged 50 or above. Statistically older drivers are safer on the road, have fewer accidents and smaller claims, which is why over 50s can often benefit from cheap car insurance.   

However, although car insurance for over 50s can be cheaper, the price starts increasing again once you reach your late 60s and 70s. Which is why it’s so important to review your motor insurance on an annual basis.  

What are the different types of car insurance?

The three main types of car insurance provide protection for other motorists from any damage you may be responsible for. This includes:

• Third party motor insurance
• Third party fire and theft motor insurance
• Fully comprehensive motor insurance

Third party

Third party car insurance is the most basic level of motor insurance. It insures against any injury or damage you cause to another person, their property or vehicle. However, third party car insurance doesn’t insure against any damage to your car or injury to you.   

You may think that third party is cheaper car insurance however this isn’t always the case. This type of cover tends to attract higher risk drivers therefore because the claim rates are higher, the premiums can be higher too.

Third party insurance also appeals to people who own cars that aren’t worth a lot as it is cheaper to buy a new car than repair the existing one.

Third party fire and theft

Third party fire and theft car insurance is like third party insurance however you are also insured if your car is damaged by fire or stolen.

Fully comprehensive

Fully comprehensive car insurance is the highest level of motor insurance. It insures against accidents or injury to you or someone else, even if the accident is your fault. Fully comprehensive insurance may also allow you to drive someone else’s car however cover is usually limited to third party.

This type of motor insurance usually appeals to people with higher value cars worth more than around £1,500. However, depending on your insurer and the value of your car, fully comprehensive may be the only option available to you.

Cheap car insurance for over 50s?

As older more experienced drivers, many over 50s naturally benefit from cheap car insurance. However, there are ways to reduce your costs further which are beneficial to over 50, over 60 and over 70 year old drivers alike.

Here’s our top tips for cheap car insurance for older drivers:

Use your no claims bonus

Your no claims bonus (NCB) is the discount you get on your car insurance for not making a claim. The more years you go without making a claim on your motor insurance, the higher your no claims bonus and therefore your no claims discount will be.

No claims discounts vary by insurer but typically you should expect the following:

• 1 years NCB – 30% discount
• 2 years NCB – 40% discount
• 3 years NCB – 50% discount
• 4 years NCB and above – 60% discount

If you make a claim against your policy, you stand to lose some or all your no claims bonus. Therefore, when it comes to your car insurance renewal, you may want to consider protecting your no claims bonus. This comes at an additional cost it however it could be worth it given the savings you can make.

Change your voluntary excess

The excess is the amount of money you are prepared to pay in the event of a claim. The higher the excess, the cheaper your car insurance premiums will be.

Pay in full

Insurance companies usually charge extra when paying by monthly instalments. Therefore, if you can afford to pay in full, you won’t incur these additional fees.

Give accurate mileage

When arranging your insurance, you’ll be asked to provide your annual mileage. The lower your mileage the cheaper the car insurance will be. Therefore, don’t over-estimate as it will cost you more.

However, it is important to be honest as you may invalidate your cover if you severely underestimate your mileage.  

Only choose the cover you need

Optional extras such as breakdown cover may appeal but they will hike up the price, so consider your requirements. You may also find it’s cheaper to buy breakdown cover separately too.

Increase your security

Adding a car alarm or immobilizer or parking your car in a garage or on a driveway are all ways of increasing your security which in turn will reduce the cost of your insurance.

Consider your vehicle

The type of car you own and how you modify it will affect the price of your insurance. The bigger and faster the car, or the flashier the modifications, the more your motor insurance will cost.

Shop around

Car insurance quotes vary by company, often by hundreds of pounds. Therefore, it’s important to compare quotes on an annual basis rather than automatically staying with the same insurer. 

Can you get cheap car insurance for over 60s?

Cheap over 60s car insurance is available, as over 60s are considered safe drivers. In fact, according to the Department for Transport, over 60 year old drivers are some of the safest road users and 66% less likely to have an accident than someone in their 20s.

To get the best over 60 car insurance, look at our tips above on how to get cheap car insurance. And as you are over 60, be certain to make the most of any no claims bonus you will no doubt have built up over the years.

Which are the best car insurance companies?

The best car insurance companies are authorised by the Financial Conduct Authority, fairly priced and offer excellent customer services. The cheapest car insurance companies may get your attention however if you’ve never heard of them, it’s probably better to steer clear.

So in addition to looking at price, when looking for the best car insurance companies also consider their reviews and defaqto rating.

Car insurance reviews

Our car insurance reviews provide information on the UK’s leading insurers including Admiral, Direct Line, Aviva, LV RIAS and Saga. You can review as many companies as you want and then use the online comparison service to see which offer the best quotes in terms of price and service.

Should I use a specialist over 50s car insurance company?

Specialist over 50s car insurance companies are worth considering as they can offer greater benefits to the older driver such as:

• No upper age limit
• Improved overseas cover
• Fixed deals over a number of years
• Onward travel protection

Having said that, just because you’re over 50 doesn’t necessarily mean you need to have over 50s car insurance. Therefore, it’s worth looking at quotes for all leading car insurers, regardless of whether they are an over 50 car insurance specialist or not.

Car insurance renewal

Car insurance is usually renewed on an annual basis. Your current insurer will write to you in advance of your renewal date with details of your new annual or monthly premium. As insurers often charge more for existing customers, we recommend you compare prices every year.

People often assume that as a loyal customer, their existing insurance provider will give them a good deal. However, in reality the cost can often be much higher, which is why it’s important to shop around for the best deal every time your car insurance renewal date comes round.