Does car insurance cost more for older drivers?

Do motor insurance companies have an ageism approach to their policy holders?

I have just received my renewal quote for renewing my fully comprehensive policy on a 2019 Toyota RAV4 Hybrid that I’ve owned since new. I do 9,000 miles a year, have no points on my licence and have a nine years protected NCB. My quote is a staggering 34 per cent higher than I paid last year. The only change to my circumstances is that I will turn 80 during the next 12 months insurance period. A comparison quote from another company who supposedly are the champions of the older motorists is 56 per cent higher than I paid last year. How can such increases be justified?

Asked on 27 September 2022 by Oscar 1

Answered by Lawrence Allan

Unfortunately this applies both to younger drivers and older drivers as insurance is a risk-based enterprise. Based upon their data most insurance companies determine drivers under 25 and over, say, 75 generally bring with them a higher risk of accidents. However we would look at some price comparison sites or ring around other insurers to try and get a cheaper quote - often insurers raise their renewal price in the hope people won't notice.

Tags: older drivers insurane

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