Summary
Elderly drivers have been found to cause more accidents than any other age group – so insurance companies are putting up premiums. Read on for a full explanation of the situation.
Car Insurance - Elderly drivers pay more
Author: Anna Richardson
Of 7,035 car accidents in which a driver was either critically injured or killed last year, 8% involved a driver aged over 70. That's equivalent to 550 accidents. As a result, the over 70's group has proved itself to be a bigger danger on the roads than any other.
More statistics released by The Association of British Insurers tell the same story – over 70's drivers make 13% more car insurance claims than drivers in the 40-50 age bracket.
Over the next ten years, the amount of elderly drivers on the road will be double what it is now. Thanks to advances in medical care, people are simply living, and driving, for longer. This will inevitably mean more accidents on our roads.
The insurance industry has taken the kind of approach we have come to expect and ( car insurance cover ) erred on the side of caution. Now many drivers from the age of 60 onwards can expect to see their insurance go up. It was already common practice for drivers over the age of 80 to experience higher premiums because they are, statistically speaking, a far greater risk on the road. Esure and Norwich Union are both notably refusing to offer insurance to drivers aged 70 or over. Cornhill won't take on new policies for customers aged 84 or over however they will renew existing customer's policies indefinitely. Age Concern and Help the Aged offer some respite for elderly drivers because ( mortgages ) they do not set any upper age limits at all. Saga and RIAS also have no policy relating to setting an age limit.
As a result of the perceived increased risk, someone aged 75 will pay 33% more than a 50 year old with exactly the same personal details and driving history. Drivers aged 80 are ( cheap mortgages ) heavily penalised, it's like being 21 again! The best deals are reserved for people in their early 50's, however they won't get long to enjoy the price cuts.
Women get an even rougher deal. Apparently, women's driving gets worse with age, so their premiums will rise and rise as they get older. Elderly women drivers pay even more than the men do.
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It's a fact that as people get older, their reactions get slower and eyesight often becomes ( remortgages ) weaker. With more cars on the road and new complicated traffic systems being built, it's understandable that some elderly drivers can get confused. There really isn't any room for error on our busy roads and as a result, some insurance companies are asking elderly drivers to undertake a medical examination before they will agree to insure them.
There's a few things you can do to help the situation – firstly, do your very best to hang onto your no claims discount and get no claims protection too, that will pay for itself in the long term. Even if you do have a minor bump, pay for it yourself rather than making a claim on your policy.
There are also things you can do to lessen your chances of having an accident. Be more careful than you used to be – particularly in car parks where cars are parked closely together, and other cars can appear out of nowhere. Take a bit more time at a junction to make sure that there is definitely no one coming. You can swivel your shoulders rather than just your head to get a really good look at the road on both sides.
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