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Is there a general age at which pensioners have to pay a premium for car insurance?

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Comments

  • There isn't necessarily a particular age where the premium suddenly increases for an older person. Rather what happens is that from an age range in the mid-40's, the rating for a person's age steadily increases and continues to do so thereafter. I seem to remember seeing something a few years ago where, statistically speaking, the drivers with fewest claims were in their mid to late forties.

    I've never seen a compulsory excess applied just because of a person's age and I think any insurer would shy away from doing so as the PR from such a move would be a nightmare.
  • lisyloo
    lisyloo Posts: 30,010 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    My FIL drove up until 84 and I don’t remember his insurance getting expensive even when he had a single claim.

    As usual depends on postcode, claims history, mileage, car etc.
    but it did not rise noticeably for us.

    Being retired is regarded as an advantage usually as it means not driving at peak times.
  • I’ve found having my Dad (71) on my insurance has bumped my premium up slightly - which I regard as his revenge for having me on his insurance when I was younger! It’s swings and roundabouts- while you may no longer need peak time travel, you have the opportunity to drive more, potentially on unfamiliar roads, especially in the early years of retirement.

    The biggest impact is the no claims bonus. I had to get an extra car (Citeron C3, 1.6) and, to have the same people on it as my main car cost £1200. I pay £650 for a Zafira (2.2) - because I have the max no claims on it.
  • 10Wbulb
    10Wbulb Posts: 26 Forumite
    Eighth Anniversary 10 Posts Combo Breaker
    Aretnap wrote: »

    Thanks. The scale on the graph is compressed, so I can only guess, but it looks like we pay the lowest premium between the ages of 66 to 70. I guesstimate that between 76 and 80 the premium rises by 20%, between 81 and 85 by 80% (but this is the same sum as someone in the age range 36 to 40!), between 86 and 90 by 120% (the same sum as someone in the age range 26 to 30) and over 91 about an extra 150% (the same sum as someone in the age range 26 to 30)! I am amazed at the age comparisons. However, you still have to add in the year on year increase in all premiums.
  • JGB1955
    JGB1955 Posts: 3,734 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    My annual insurance has gone up by steady increments of £5 per year from £120 in 2012 to £154 in 2019. That's from age 57 to 64. I shop around every year and am happy to no longer have to admit to being insured with Saga ( I really don't feel THAT old, but the premiums were good!). I have no voluntary excess and 9 Years + protected NCB.
    #2 Saving for Christmas 2024 - £1 a day challenge. £325 of £366
  • silvercar
    silvercar Posts: 48,705 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    My parent (late 70s) found that adding her children (in their 50s) to her car insurance as named (not main) driver, reduced her premium.
    I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • roddydogs
    roddydogs Posts: 7,479 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Mines gone up cosiderably in the last 2 yrs age 76, yes I did check comparison sites, they were all higher than the renewal from Esure. I tried to get info as to why but just got the usual bland "its all to do with risks" etc etc.
  • jennifernil
    jennifernil Posts: 5,687 Forumite
    Part of the Furniture 1,000 Posts
    edited 28 June 2019 am30 11:34AM
    We had a similar experience at our last renewal in March.

    Same car, nothing had changed other than that we were a year older (76 and 70), been with the same insurer for the previous 2 years.

    The previous year we had added our daughter ( age 33) to the policy which had reduced the premium by about £15.

    Last year we paid £415, this year they wanted £805!

    Tried all the usual comparison sites and other companies as per MSE advice, and only found 2 lower quotes, LV and NFU, but both were still well over £600.

    Went with NFU in the end as they have a good reputation, allow monthly DDs at no extra cost, and were about £30 less than LV with a slightly lower compulsory excess.

    Tried to negotiate with our previous insurer or get an explanation, but it was fruitless.

    The companies, like SAGA, who claim to be good for we older drivers were all way more expensive than our original renewal!

    We are both on our daughter's insurance and this year she found it increased her premium by a few pounds.
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