Does car insurance go up when you are over 80?

As you get older, car insurance prices can change. In this article, we’ll explore why this happens and what it means for over 80s car insurance. We’ll also share some wider information for those driving in later life.

Does age make a difference in car insurance?

There are many factors that can influence the cost of your car insurance, including age.

According to the Association of British Insurers (ABI) [1], younger drivers aged 18-20 tend to pay the most for their car insurance. This is mainly because this age group makes the highest number of claims. It also reflects their lack of experience, which makes them a higher risk for insurers.

Over time, should you stay claim-free, the average cost generally decreases as your driving record and experience improves. However, after the age of 70, ABI data shows insurance quotes can start to rise again. This can be tied to the average cost of claims starting to rise for this age group. After 18-20 year olds, those aged between 86-90 have the highest average claim cost, followed by those aged 91+.

Does car insurance go up when you are over 80?

Those over 80 may see the cost of their car insurance group. In ABI data, we can see that drivers over 80 statistically make more expensive claims than some younger age groups, such as those aged 50-60.

However, while the cost of claims tends to be at the higher end, those over 80 don’t claim as frequently. This may be tied to drivers over 80 driving less frequently, and this too will be a factor in determining the cost of your car insurance, helping to bring prices down.

Why can car insurance for over 80s cost more?

Car insurance costs are calculated based around risks and the likelihood of a claim being made. While older drivers have lots of road experience, they also tend to face more health challenges that can affect their driving. This increases the risk of being involved in an accident and therefore increases the price of insurance too.

Despite this potential rise, the price of car insurance for over 80s is still likely to remain lower than the cost for newly qualified drivers. It’s also important to note that many other factors will influence your insurance quote beyond your age.

What other factors influence the cost of over 80s car insurance?

Many other details will be considered when you apply for a car insurance quote, including:

• The make, model and insurance group of your car, plus its security features.
• Where you live, local crime rates and where the vehicle is kept overnight.
• Your No Claims Discount (NCD) and personal driving history.
• External influences such as inflation and the cost of motor repairs.

 You can read more about why car insurance goes up here.

Can you reduce car insurance quotes for over 80s?

Car insurance quotes for over 80s, like those for all other ages, reflect the likelihood of a claim being made and costs to the insurer being high. So, if you’re looking to avoid higher prices, you could consider:

• Increasing your voluntary excess
• Opting for a vehicle in a lower insurance group, that may cost less to replace or repair.
• Parking in a lower-risk location, such as a garage.
• Renewing your car insurance at the right time, around a month before your current insurance term ends.

For more information on how to reduce the cost of your car insurance, please click here.

What does over 80s car insurance cover?

Typically, car insurance for over 80s should offer the same cover as insurance for any other age group.

However, with every insurance provider offering their own terms and features, finding a product or service that aligns more closely with your needs can help you get better value for money.

What else should I consider as an older driver?

Driving in later life offers many benefits, as noted by Jenny Taylor, who learned to drive later in life. She says: “Having a licence has ensured I retain my independence. I can get out with my friends and see my family. I don’t feel like I’m a burden to others, which is great for my mental wellbeing, too.”

But, if you do plan to keep driving as you get older, there are some considerations to keep in mind. These include:

Renewing your licence

Once you reach the age of 70, you will need to renew your licence every three years. The renewal process is free of charge and involves making a health declaration. You do not have to retake your driving test. However, your driving ability may be assessed if you have a health condition or disability. To read more about this process, click here.

Declaring health conditions

Legally, you must tell the DVLA if you develop a health or medical condition that affects your driving, or if a previous condition gets worse. This should be done as soon as possible, even if you’re between licence renewals. Declaring a condition doesn’t necessarily have to impact your ability to keep your licence. However, if you don’t share the information, you could be fined and, if you had an accident, your insurance may not cover you. Click here for more information on this topic.

Navigating insurance age limits

Legally there is no upper age limit for car insurance. However, some insurers do have restrictions in place. So, it’s worth checking this detail when comparing products and providers. After this, you can choose from the range of over 80s car insurance options available.

What to do if you feel it is time to stop driving

Whether due to personal preference or health issues, you may decide it’s time to stop driving. If this is the case, it’s important to note that there are many other ways to get from A to B.

If you are over 80, then you’ll qualify for an older person’s bus pass, which can be applied for once you reach State Pension age or 60-years-old (in Scotland and London). This entitles you to free travel and can be a very cost-effective alternative to driving.

Dr Dan Anthony decided to give up his car and put his new bus pass to the test. “I don’t have the admin of car ownership. It’s actually quite liberating.”

Click here to read more about the unexpected perks of giving up driving.

In summary

Whilst your age can impact the cost of your car insurance, this detail is part of a bigger picture as outlined below.

• Age is one of many factors that influence the price of your car insurance, alongside the make of your car, your driving history and much more.
• Drivers over 80 may experience a rise in the cost of their car insurance. However, steps can be taken to mitigate this, from your choice of vehicle to your voluntary excess.
• Over 80s car insurance is essentially the same as other insurance products, but it’s more likely to have the features and benefits you need if the product has been selected with you in mind.
• When driving in your later years, there are other requirements to consider from licence renewals to medical declarations.

[1] Association of British Insurers data