Everybody likes to be able to reduce their car insurance costs. But if you are over 50 years of age and with many years of driving experience then it is likely you could benefit from some really good deals from one of a range of competitively priced policies designed specifically for older drivers. Older drivers tend to be more careful and less likely to take risks when driving. Reports on driving behaviour show that drivers with experience are less likely to make a claim on their insurance, and so insurers will regularly favour and reward drivers aged over 50 with lower prices, especially if they have built up a good no claims bonus.
A no claims bonus is added to your insurance record for every year you go without making a claim on your policy. Because many older drivers have a large no claims bonus, they can choose to protect it on their next insurance policy by paying a small fee that allows them to keep their no claims bonus even if they make one or two small claims. Make sure the policy you choose has a low cost option to protect your no claims bonus, as it could prove worthwhile.
Many insurance companies now offer specialist insurance policies for older drivers, with benefits such as emergency 'any driver' cover. This means that in a situation where you are unable to drive your car, another person can take over as long as they have the correct licence. Other benefits can include cover for expenses associated with making a claim such as getting home after an accident and hotel accommodation if your car needs to be repaired. You could also be entitled to a courtesy car while yours is being fixed. These benefits usually come with policies from insurers that can provide special policies for drivers over 50. It's worth shopping around for these extras as they could help you save on your car insurance.
Another great feature that can be included in policies for older drivers is free breakdown cover. Insurers recognise that older drivers don't just want to save money on the insurance cover - they want their policy to offer more for them as well. As many drivers feel that years of careful and safe driving is a type of investment, they appreciate being rewarded by a no claims bonus and range of features that equals their efforts.
By giving an insurer as much information as possible, you could save money on the price of your cover and get a good deal on the basis of your driving experience. Not all insurers will take this into account so it's worth trying different companies for a quote as the difference in cover offered and price could be considerable.
Other ways to reduce the cost of your car insurance could include increasing the amount of voluntary excess. This is the proportion you would pay in the event of a claim. As older drivers are less likely to make a claim, it could be worth having a higher voluntary excess to drive the premium down. Taking extra security measures such as fitting alarms and keeping your car in a garage overnight can also bring down car insurance costs. If you've been driving a company car for a number of years claim free, then some providers will offer the opportunity to receive a no claims discount for the equivalent period of time. Whatever the circumstances, as they are more likely to be considered a lower risk, older drivers should always shop around for the best deals on car insurance.
Reviews like this one by Mark Bartley are designed to help consumers understand important products like car insurance and other financial choices. The content should help people find the right insurance product for their needs and give a general overview of the product area.
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