The insurance guidance organisation Independent Advisor Car Insurance has shared a number of tips that can help drivers over the age of 70 get cheaper quotes.
Whilst the cost of car insurance is rising for all motorists, elderly drivers typically face higher than average premiums, even if they have a good No Claims Bonus (NCB).
Connor Campbell, a motoring expert at Independent Advisor Car Insurance, suggested that some insurers will have a maximum age limit, but elderly drivers will still be able to find a car insurance policy for them.
He advised: “Legally, there is no maximum age limit for car insurance as long as you’re still fit and healthy enough to drive. So, in your 70s and beyond, there will be a car insurance policy out there that will allow you to maintain your independence and stay on the road.
“You may have slightly less choice, however. While most car insurance providers don’t impose an age limit on their policies, some do. This will normally be between 70 and 80 years of age.”
Independent Advisor Car Insurance suggested that one of the most effective ways for elderly drivers to lower the cost of cover is by travelling fewer miles.
The organisation suggested that drivers who cover fewer than about 7,400 miles, the average mileage in the UK, can qualify for a low-mileage policy, which is generally much cheaper.
Many price comparison websites, such as Money Supermarket and Compare the Market, offer services specifically for low-mileage car insurance, helping drivers to find the best deal for them in a matter of minutes.
Another way in which Independent Advisor Car Insurance noted drivers over 70 can lower their policy is by opting for a pay-as-you-go insurance policy.
Whilst a conventional car insurance policy gives drivers constant cover over a 12-month period, a pay-as-you-go scheme only charges motorists a fixed rate for every mile in which they travel.
Drivers using this sort of policy typically start of with a fixed number of miles, such as 1,000, and then top up their cover when it is necessary. As a result, motorists do not need to pay for a mileage that is higher than necessary.
Finally, the company recommended that elderly motorists take particular care and consideration surrounding extras that are typically offered with insurance policies.
Many car insurers like to give customers the choice of paying extra for additional features, such as breakdown cover and motor legal protection, to help justify the overall cost of the policy.
However, Independent Advisor Car Insurance suggested that it could be cheaper to buy these policies elsewhere, making it important to check the going rate for extras before they make a purchase.