Motorists over the age of 70 are being warned that car insurance premiums tend to rise, even though they are considered statistically very safe behind the wheel.
According to the RAC, premiums climb after 70 because older drivers make more expensive claims. Confused.com figures show that over-70s pay an average of £480 annually, which is higher than the £457 paid by drivers aged 60 to 69. However, the increase is not a steady upward trend, as drivers aged 50 to 59 pay more than both older groups, at approximately £545 per year.
Why premiums rise after 70
The RAC has previously cautioned that motorists aged 70 and above tend to make more expensive claims, which explains why these drivers face higher costs than others. Age UK, meanwhile, characterises the post-70 rise as modest, noting that claim-free drivers typically see their costs decline over time as their driving record strengthens.
The RAC previously said: "Age is one of the most significant factors when your car insurance premium is calculated, and it may come as quite a surprise to see a hike in your renewal quote after your 70th birthday. Despite statistically being very safe, drivers over the age of 70 tend to pay higher premiums than middle-aged drivers because they make more expensive claims."
How older drivers can lower costs
Age UK said: "Over time, should you stay claim-free, the average cost generally decreases as your driving record and experience improve. However, after the age of 70, we do see insurance quotes start to rise – though only slightly."
Motor insurance premiums can climb for certain elderly motorists owing to insurer risk assessments and fewer provider options available. Licence renewal requirements from age 70 and medical disclosures can also influence coverage and costs. Nevertheless, limited mileage, an unblemished driving history and vehicle security measures can assist in lowering expenses.
Shopping around for quotes remains the most efficient method to secure more affordable motor insurance for elderly drivers. Uswitch said: "Review your policy every year. Even loyal customers may face higher renewal prices. Comparing annually helps you avoid paying more than necessary and keeps your car insurance competitive over time."
