Over 60s car insurance

If you’re looking to save money on your motor insurance premiums during these unpredictable and unprecedented times, and are aged between 60 and 70 years old, then over 60 car insurance is the answer to your prayers.

According to the Department of Transport (DfT), 60-year-old drivers are, on average, 66% less likely to have an accident than a much younger driver in their 20s.

So being the age of 60 is pretty much a ‘golden age’ as far as cheap motor insurance is concerned. However, as always, there are of course other pertinent factors that can have a negative impact and bump up cheaper over 60 insurance premiums.

Here’s what you need to know about car insurance for over 60s including what can make it cheaper or, conversely, more expensive, and how to go about finding the best deals with the cheapest premiums.

In this guide:

How much is car insurance?

How much is over-60s motor insurance?

What can increase over-60s premiums?

What can reduce over-60s premiums?

Is car insurance for ladies over 60 cheaper?

Does retirement make car insurance cheaper?

How to find the best car insurance quotes UK over 60

Woman driving car at dusk

How much is car insurance?

According to the latest data from the Association of British Insurers (AIB), the average cost of a standard car insurance policy in the UK, for all demographics and types of drivers, is £440 per year.

However, Compare the Market (CtM) states the average cost - according to their own data - as being a much higher £640.

Read more: What is the average cost of car insurance?

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How much is over-60s motor insurance?

According to CtM’s data, 51% of customers aged 60 or more could expect to pay a premium up to £248. Taking into account CtM’s average cost of standard motor insurance (£640), this means over 60s life insurance is a whopping £392 cheaper!

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What can increase over-60s premiums?

In addition to your age, other factors that can increase the cost of your over 60 policy are:

Car information:

  • An expensive car make and model with a large engine size
  • Certain car modifications
  • If your car has been imported to the UK from another country
  • High mileage on the clock
  • Predicted high mileage by you during the policy term (typically above 10,000 miles per annum)
  • Parking your car on a public road

Personal information:

  • Living in a high crime rate area
  • Lack of driving experience
  • Driving convictions, points on your licence or criminal convictions
  • Previous car insurance claims
  • Zero or low No Claims Bonus
  • Certain medical conditions that could affect your driving
  • Choosing to pay monthly

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What can reduce over-60s premiums?

In addition to your age, other factors that can reduce the cost of your over 60 policy are:

Car information:

  • A cheap car make and model with a small engine size
  • A car that has been manufactured in the UK
  • Insurer-approved car security
  • Low mileage on the clock
  • Predicted low mileage by you during the policy term (typically around 5,000 miles per annum or less)
  • Parking your car on a private driveway or in a garage

Personal information:

  • Living in a low crime rate area
  • Vast driving experience
  • Having no previous criminal or driving convictions, or points on your licence
  • Having no previous claims history
  • Having a decent No Claims Bonus built up (a few years or more)
  • A clean bill of health
  • Choosing to pay annually

Read more: 10 tips and tricks for cutting costs on your car insurance

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Black Box Insurance

Another way you could potentially reduce your motor insurance premiums is by taking out telematics car insurance (also known as black box car insurance) - but only if you’re a safe and sensible driver which, of course, most 60-year-olds are.

The added benefit of black box insurance is that it can help prove you were driving responsibly if you’re involved in an accident. A black box can also double up as a security tracking device, should your vehicle be stolen, which can also help reduce your premiums as there’s more chance your vehicle won’t be stolen or if it is, it will be found and returned to you.

Advanced driving test

There are advanced driving courses and tests you can take that will help you look like a trustworthy driver who is less likely to make a claim on their insurance - although this is not guaranteed and will vary amongst insurers.

As your premiums should be at their lowest at the age of 60, it might well be worth waiting to take this course at a later date - in your mid to late 70s - as it’s after the age of 80 that your premiums shoot up.

The two main and most recognised tests you can optionally take to improve and verify your safe driving skills (and hopefully reduce your premiums) are:

  • the Royal Society for the Prevention of Accidents (RoSPA) Advanced Drivers and Riders’ test costs £67 or
  • the Institute of Advanced Motorists (IAM) ‘Advanced Driver’ test costs £149*

*The IAM RoadSmart course is the only course accredited by the DVSA (Driver and Vehicle Standards Agency) and can take between 4 and 6 months to complete. However, this course and test will have the most leverage with certain auto insurers when it comes to reduced premiums.

Read more: Advanced Driving Courses (UK) - A Guide

Is car insurance for ladies over 60 cheaper?

It can be but this is not guaranteed and there’s no such thing as a niche ‘over 60s car insurance policy for women’ that is specifically tailored towards a woman instead of a man. Although there are certain policies aimed at or tailored towards young female drivers offered by ‘Go Girl Car insurance’ that include extras like ‘handbag cover’.

By law, insurers are not allowed to discriminate against motorists because of their gender. However, despite this, historic MoneySuperMarket data has revealed that the cheapest yearly car insurance price between January 2018 and January 2020 was £581.28 for men and £460.15 for women - that’s a £121.13 or 26% disparity.

The best way to find the cheapest over-60 insurance deals for women is to simply shop around and use reputable comparison sites like Bobatoo.

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Does retirement make car insurance cheaper?

Motor insurance is typically cheaper at retirement ages 55-70 but being retired, in itself, does not affect or reduce your premiums.

However, should you retire, be made redundant or change jobs during the term of a motor policy, you should immediately notify your insurer as your occupation can affect your premiums and not telling your insurer could invalidate your policy.

You might like: A guide to getting car insurance if you are over 70

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How to find the best car insurance quotes UK over 60

To find cheap car insurance UK, you should shop around and compare over 60 car insurance quotes from a wide variety of insurers.

To get the best price possible, you should search car insurance comparison sites for over 60 car insurance quotes approximately three weeks before your existing policy is due to renew or expire - if you request quotes too early or too late, the premiums will be higher.

Read More: When is the best time to buy or renew car insurance?

Most importantly, remember to check exactly what’s included or excluded from a policy before choosing one.

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