Car Insurance Quotes Uk Over 60 (2024)

FAQs

What is the best and cheapest car insurance for seniors? ›

Nationwide has the lowest average rates for older drivers and is the best car insurance company for seniors in 2024. Its rates, low number of complaints to state insurance departments and coverage options, like usage-based car insurance, also earn it the title of best car insurance of 2024.

For one, if you're in an accident, repair costs for an older car tend to be higher because the parts are more scarce. That's one major reason your insurance company might charge a higher premium anticipating higher repair costs in the event of an accident.

The cost of your car insurance can go up for a number of reasons if you let it renew automatically, but it's more likely if you've had an accident or received points on your licence, for example. Economic and market factors, like inflation, can also make a difference.

Nationwide, USAA, Travelers, Erie, Auto-Owners, Geico and Progressive are the best car insurance companies for seniors, according to our analysis.

Guardian Life Insurance is our top pick for older seniors because it is one of a handful of insurers we've reviewed that issues policies up to age 90. It offers no-exam policies up to $3 million in coverage, though seniors might face significant rates for higher coverage amounts.

According to the Association of British Insurers (ABI), drivers aged 66-70 pay the least for car insurance – just under a third of the average price paid by 18-20 year olds. Compare the Market data reveals that over 60s could make significant savings on their car insurance compared to young drivers.

The top 10 cheapest car insurance companies are Nationwide, Geico, State Farm, Travelers, Progressive, AAA, Allstate, Chubb, Farmers and USAA.

As a general rule of thumb, you can expect to pay the most for your car insurance when you're under 25. Once people are over 25, they tend to find that the cost of their car insurance starts to fall. The price usually declines gradually between the ages of 25 and 60.

On average, drivers with poor credit pay 118 percent more for full coverage car insurance than those with excellent credit. California, Hawaii, Massachusetts and Michigan prohibit or limit the use of credit as a rating factor in determining auto insurance rates.

Is it better to have collision or comprehensive? ›

If your car is damaged in a road collision with another car or object and you're at fault, only your collision coverage can help pay to repair it. Only comprehensive coverage covers losses caused by contact with animals, civil disturbances, fires, natural disasters, theft, and vandalism.

Car insurance typically drops as you grow older, when you drive safely for three to five years following an accident or citation, and when you switch to a cheaper company. Both men and women see the steepest drop in car insurance costs between ages 18 and 19.

It shows that between 1 October and 31 December 2023: The average premium paid for private motor insurance was £627, up 12% on the £562 of the previous quarter. The current average premium is 34% higher compared to Q4 2022, when it was £470.

Cars in group 1 are the cheapest to insure, while cars in group 50 are the most expensive. If you want to check your car's insurance group, you can do so via 'My Vehicle Search' on Thatcham's site, or via some price comparison sites. You could also check with your insurer.

Calculate your car insurance rates with NimbleFins. The average car insurance cost was £627 between October and December 2023 for comprehensive cover—up 34% from £470 a year earlier (Q4 2022) and the highest since the ABI started collecting this data back in 2012. You can see the steep rise in the chart below.

The cheapest large car insurance companies are Nationwide, Geico, State Farm, Travelers and Progressive. **While USAA has the cheapest rates overall, its services are limited to active-duty military members, veterans, and their families.

Are older cars cheaper to insure? Yes, most older cars are cheaper to insure, especially in terms of comprehensive and collision insurance. Cars lose value as they age, so the potential insurance payouts after an accident drop as well. This is not the case with many classic or collector cars.

About AARP Life Insurance

Pros: Policies issued through New York Life, rated A++ (Superior) by AM Best for financial strength. Medical exams are not required.

Whether or not car insurance is cheaper for older cars depends on several factors. While new cars may be more expensive to insure due to their higher value, older cars may be costly as well. Although they may have a lower value, older cars may also have expensive parts that could make repairs expensive.