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Why do the over fifties pay so much?

Recent reports indicate that the over-50s are being hit by car insurance companies with inflated premiums and that increases over the past five years for drivers in this age range have been more than 15% higher than for other motorists. Over fifties have been had for mugs.

This is because motorists between 50 and 60 are an estimated 65% less likely to shop around for cheaper quotes (you can do so on sites such as,,, to name but a few) than those aged between 18-25 (the most expensive age group for motor insurance) and those between 60 and 80 even less so; approximately 72% of drivers in this age group have never compared insurance quotes online. Since price comparison services are mainly responsible for holding premiums down (most insurers claim that they make no profit whatsoever, or even a loss, on premium income) this creates a situation which is completely unfair to the older generation; they are, in effect, subsidising the premiums of younger drivers.

It has been argued by companies specialising in the over-fifty market that the premiums are justified by the higher mileages in bigger engined cars that people in this age range cover. The facts, however, show otherwise. Those between the ages of 55-65 not only have the least number of accidents of any age range, but their insurance claims are the lowest as well. It is only until a driver reaches the 65-75, and reactions often become slower and physical capabilities decrease, that accidents, and therefore premiums, begin to rise.

Insurers love customers who never shop around, but pay their premiums, plus the yearly increases, without trying to get a lower price elsewhere. Sneakily, many of them hide these premium increases by withholding information about the previous one - this is not accidental but a deliberate ploy to prevent their clients realising that the price has risen. It is not at all unusual for someone who has compared prices online to find offers from other, reputable insurers that are half the cost of their current policies whilst still offering similar benefits.

So, if your renewal notice has arrived in the post don't just pay the new premium straight away; check out a couple of price comparison sites and see what offers you can find. As a safe, experienced motorist aged over fifty or sixty you represent a good risk to the insurers, so you should have a low premium to reflect that fact.

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