Is Car Insurance Cheaper for Older Drivers?

The answer is yes, whether it is for traditional or temporary insurance. The underwriting staff at the insurance company sets the price for the premiums for mature drivers. This is why when you get quotes from various companies, they are all different. Underwriters have various types of different information to use at their disposal which helps them to determine the cost of insuring your particular car based on the make and model.

You can always buy cheap short term car insurance from  of course.

The amount paid by older drivers is based on these factors:

ē Who drives the car
ē The type of car they drive
ē The location the car is kept
ē What the car is used for
ē The type of cover needed on the car

Once these factors have been considered, the cost is calculated for a driver over 50. The insurance company will require all the necessary information to figure out what the exact quote will be. Think about factors you can change to lower the cost of your insurance. Naturally, you canít do anything about your gender or age, but there may be other things you can do for a lower rate. Older women can get a lower rate by driving a certain model of car that is at a lower risk.

Insurance companies consider people over 50 to be lower risk drivers because of their age. They consider them to be experienced at driving since they have a history of driving. Studies show that younger drivers get into more accidents than drivers over 50.

Does Every Over 50 Driver Get Lower Insurance?

No, it all depends upon their driving history and past claims. A personís age also plays a part. When a person gets older, their reaction time begins to slow down and their eyesight begins to fade. This can make them a hazardous driver. In fact, studies have shown that drivers over 70 are 13% more likely to file a car insurance claim than those in the 40-50 year age range. Itís because of this that those over 70 have increased premiums and many over 80 canít be insured.

If you are over 50 and need someone else to drive your car, but they arenít on the insurance, you can get temporary insurance for a few days. Many companies wonít charge extra fees to your current policy either. A lot depends on who the extra driver is. However, they may advise you against including younger drivers on your policy because your premium may increase. Only the drivers who drive the car on a regular basis should be on the policy.

Drivers over 50 need to be cautious if buying policies online. You donít want to get tricked into buying more than you need. It may be best to talk to a local insurance agent. You want to get good cover and save money.

Copyright Dave Dawes 2009