Senior Drivers Car Insurance In The UK

By Mike Wilcox

Getting older is a time to celebrate growing wisdom and giving back to younger generations. Unfortunately, it is also a time when a myriad of problems start coming up. One of the potential problems that might arise is finding reasonably priced car insurance for senior drivers. Though senior drivers will need to shop around for the best deals and offers on insurance, it is not impossible to find company willing to offer reasonable rates for those excellent driving records.

Specialty Companies:

Many car insurance companies are generalized for a wide range of age groups. This high variety that ranges from new teen drivers to mature adults reaching their golden years often causes higher insurance rates to balance out the risk. Some insurance companies, on the other hand, are specialized for specific groups.

A specialty company in the UK who caters to mature adults does not cover the younger demographics. In many cases, the company will require drivers at least 50 years old with a long driving history. This type of insurance company is willing to offer lower cost payments for men and women who have a long-standing driving history and have proven their responsibility behind the wheel.

Many senior drivers have been behind the wheel for over 30 or 40 years and have a long-standing history of care on the road. The demographic is statistically less likely to get into an accident as a result of experience than younger age groups who might take unnecessary risks while driving.

The company is able to offer lower costs for senior drivers in the UK because it is designed around the needs of older individuals.

Factors Affecting Price:

While senior car insurance options average a lower price for the vehicle, some factors will influence the cost. Understanding the influences on cost will allow senior drivers an opportunity to minimise the price and get a reasonable rate.

The first major factor that might cause a higher cost is insuring the vehicle for other drivers. If a younger individual, such as a child or grandchild, are secondary drivers of the vehicle, the price is likely to increase. Young drivers, particularly those who are just learning or have recently been licensed, are among the riskiest demographic. This means that the insurance will increase dramatically to cover these secondary drivers. The best way to combat this cost is preventing them from driving the vehicle.

Another factor is the driving record. A strong driving record with no accidents, tickets or other problems for several years will result in a lower risk rating and thus a lower cost. If anyone driving the vehicle has a poor driving record that shows numerous accidents or traffic violations the cost of insurance will increase.

The type of vehicle also makes a difference on price. Senior drivers who own a sports car or an expensive classic car are more likely to pay a higher premium than if they own a basic Toyota.

The type of cover on the vehicle also changes the cost. A full coverage that includes theft, vandalism and unlikely events like a tree falling on the vehicle will cost more than a basic policy for accidents.

New Legislation:

In the UK, senior drivers have often found that their insurance company drops them or increases premium costs dramatically. Those who are looking for new insurance companies used to discover that the insurance companies were refusing to provide cover for the vehicle.

Fortunately, new UK legislation has eliminated the risk of insurance refusal due to age. The Equality Act of 2010 requires that all companies accept applications from drivers in any age demographic. It is considered age discrimination to refuse cover to older citizens.

Another change relates to the increase in premium prices. Though the legislation does still allow the insurance company to increase the rate, they must first provide a reason for the increase that is not related to age. For example, a recent crash can result in an increase.

Getting the Best Deal:

Though all companies must provide coverage, getting the best senor drivers deal will require shopping around. Spending time obtaining phone and Internet quotes from different companies, particularly those who specialize in older drivers, is the only way to find the best deals.

When requesting a quote, ask for promotional deals and special rates that might apply. For example, some companies might offer a discount to senior drivers who have not been in a crash for a certain number of years or might have a special deal for insuring two vehicles instead of one.

Senior drivers who have a strong driving record are able to find reasonable rates on car insurance. Getting older does not mean paying more and with specialty companies, new legislation and a little comparison, seniors can put their money to other personal needs and wants.