Car Insurance News
Older drivers 'have lower car insurance premiums'
Car Insurance News - Published: 21/09/2007
Older drivers are being asked to pay less for their car insurance, a new report has found.
Consumer website moneysupermarket.com has published a study which indicates that a 30-year-old driver will have to pay nearly double the premium of a 60-year-old motorist.
"It is quite a shock to see people in their 60s paying an average of £230 and those in their 30s paying £344 - or 50 per cent more. Even a 40-year-old will pay over 20 per cent more than a 70-year-old, "commented Richard Mason, director of insurance at the website.
"Despite the perception the elderly have higher health-related risks, such as poor eyesight, they are not claiming as much so insurers have not bumped up their premiums."
Mr Mason explained that insurers deemed people in their 20s and 30s a greater risk than older drivers because they tended to use their cars more and at busier times.
"Insurers also deem younger drivers as more aggressive on the road, in comparison," Mr Mason concluded.
Consumer website moneysupermarket.com has published a study which indicates that a 30-year-old driver will have to pay nearly double the premium of a 60-year-old motorist.
"It is quite a shock to see people in their 60s paying an average of £230 and those in their 30s paying £344 - or 50 per cent more. Even a 40-year-old will pay over 20 per cent more than a 70-year-old, "commented Richard Mason, director of insurance at the website.
"Despite the perception the elderly have higher health-related risks, such as poor eyesight, they are not claiming as much so insurers have not bumped up their premiums."
Mr Mason explained that insurers deemed people in their 20s and 30s a greater risk than older drivers because they tended to use their cars more and at busier times.
"Insurers also deem younger drivers as more aggressive on the road, in comparison," Mr Mason concluded.
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