Why do Car Insurance Premiums Get Cheaper the Older you get?

Growing Old Has its Benefits!

elderly driver car insuranceAccording to a report published by the BBC, elderly motorists are ‘safer than younger drivers‘ but in many cases, OAP’s don’t always drive themselves around because many of them use taxis or have their children drive them around. However, just like other groups of motorists, car insurance is still compulsory for senior citizens.

There are many reasons that explain why the cover for elder persons is considerably cheaper than what’s paid by the younger generation, here are a few of them:

Senior Citizens have More Driving Experience

Most older folks in the United Kingdom have a lot of experience driving in different conditions. From their many years of driving, these people have learned important lessons. If an elderly person has maintained many years of clean driving record, there is no reason why the insurer should not charge him or her lower insurance rates. Because of this, many reputable insurance service providers set up lower rates of premium for them.

They Choose Safe Car Models

Older persons are known to be very cautious regarding their choices of cars. Because of the many years which they have been driving, they know which car offers the best safety features. Whenever these people choose a car model, there must be a special reason for that and looking closely at it, the reasons they give are mainly security related. They invest their money on old models of cars because they are easier to use, durable and have simpler features. Older cars also have better security features when compared to new ones. Because of their advanced age, the elderly persons will never want to show off at all. For these reasons, insurers will see reduced chances of vehicle theft and minimal risks of getting involved in car crashes.

They are More Careful and Diligent than younger Drivers

As a matter of fact, young people are more reckless and careless and that’s why they tend to get involved in accidents most of the time. Contrary to this, elderly persons are more careful and they have learned a lot on the road since the time when they were young. These people have fewer places to rush to and have more focus while driving because their life is often less pressured. There are very few things that can distract them on the roads and they will always be more careful to observe the traffic rules. They appreciate the fact that those rules have been put in place for their safety. But there are people who argue that most senior citizens meet road accidents because of their slow reflexes and poor eyesight. In this case, it’s not the car insurance premium that goes up, but their life insurance costs.

Older People Drive Less

Many elderly persons prefer to use other means of transport such as taxis or ask their young family members to drive them around. The numbers of times the elderly persons use their cars are few and whenever they use, they will not be going far. This reduces the probability of getting into accidents while also benefiting from discounts on premiums for low mileage drivers. This helps in bringing down the cost of insurance for senior citizens even further!

Cheaper Cover For Elderly Drivers at Quantum Cars

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