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What's so great about over 50 car insurance?

Are you making the most of your age and experience? Find out why careful drivers over 50 can enjoy many years of cheaper car insurance. 

It could be good news for drivers over 50

There have to be some perks to getting older and perhaps the prospect of cheaper car insurance for the over 50s is one. Fill you with excitement? Maybe not, but insuring your car is such a big expense, any saving is guaranteed to put a smile on your face.

What you might not know is that drivers aged between 50 and 70, pay some of the lowest premiums available. According to the Association of British Insurers in the first quarter of 2017, the average annual premium for drivers in their 50s was £325, with 60 somethings enjoying the lowest annual average of £271.50. Compare that to drivers in their 30s, who pay an average of £431.50, and teen drivers who can pay more than three times as much.

So why might premiums fall once you hit the big 5.0.? It's simple; insurers recognise you’ve reached an age where you’re likely to have considerable experience behind the wheel, but still be in good mental and physical shape.

Man in his 50s driving

Research shines a flattering light on the over 50s

With each passing decade, you probably find yourself struggling to keep up with the latest technology – stuff that seems to come naturally to the young. But when it comes to four wheels, the evidence rules in your favour.

Statistics show older drivers tend to be safer on the road. According to road safety charity Brake, drivers aged 60–69 are half as likely to crash as drivers between the age of 20–29. So it’s hardly surprising that insurance for safe drivers over 50 can be cheaper.

Over 50 car insurance rewards your track record

Your age is just one of the factors taken into account when calculating your premium. Another is your track record.

Insurers look at the number of years you haven't made a claim and reward you with a no claims bonus. The bigger your no claims bonus, the better the discount you’re likely to get when you renew your car insurance – for five years or more of no claims, you're usually looking at a significant saving.

That means in theory, as an older driver who's built up a good track record over many years on the road, with no or few incidents, you should benefit by seeing a real difference in the amount you have to pay.

Mature woman driver’s reflection in wing mirror

You get up to 20 years for good behaviour

You’re most likely to pay less between the ages of 50 and 69, just as long as your driving record is up to scratch and stays that way. The tipping point is often at 70, where car insurance premiums start to creep up again.

This may seem a little unfair. After all, by this age you’ve got even more driving experience under your seat belt and are probably on the road far less than you used to be. However, according to the Association of British Insurers this is the age when the cost of claims starts to rise again. In 2017 the average claim for a driver aged 76-80 was £2,824, that’s just over £500 more than the average claim for a driver aged 46-50.

Insurers like you being a grown up (even if you don’t)

Even if you’re doing all you can to ignore the passage of time, the chances are your life has become more settled as you’ve headed into your 50s. Combined with your experience and behaviour on the road, your lifestyle can also lower your claims risk and makes you flavour of the month with insurance companies. For example:

  • Where you live Living in an area with lower crime rates reduces the risk of a claim for theft or vandalism
  • Where you park Parking your car in a more secure location than on the street, such as a drive or locked garage
  • The car you drive Driving a relatively modest car is a lower risk to insure than a more powerful or expensive car
  • The security measures you take Investing in an alarm, immobiliser or tracking device
  • How far and how often you drive Driving fewer miles less often
Suburban houses with cars on driveways

You can shape your policy around you

Fully comprehensive policies usually come with plenty of added features and optional extras. These range from simple things like cover for the windscreen, personal belongings and travelling abroad, right through to legal expenses, breakdown assistance and sometimes they even include the use of a courtesy car whilst your own vehicle is under repair.

Car insurance aimed at the over 50s often also includes options that become more important as you get older, such as protection against being hit by an uninsured driver or your car being vandalised. What’s included as standard, or offered for a few pounds more, will vary between providers, so it's always worth checking the small print.

Embrace the benefits of being older

If you’re struggling with the concept of being pigeonholed as an ‘over 50’, remember it’s just an age bracket – and a big one at that. You’re still as unique as you always were, with your own interests, driving habits and taste in cars. So just embrace the benefits of being that bit older and wiser (like cheaper car insurance), save a bit of money and ignore the rest!

SunLife offers a range of straightforward and affordable products including over 50s life insurance, funeral plans, life insurance, equity release, pet insurance, home insurance, car insurance, ISAs and Will writing services.

Here's the information that you need to know about who we are and the other companies that we work with in order to provide our products and services.

Who are SunLife? 

Phoenix Life Limited trades as SunLife and is the provider of the Guaranteed Over 50 Plan, SunLife Insurance and the life insurance policy payment option for Funeral Plans. Phoenix Life Limited’s registered office is at 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 1016269). Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority and is entered on the Financial Services Register (registration no. 110418). As part of SunLife’s commitment to quality service and security, telephone calls may be recorded.

SunLife Limited distributes financial products and services and is a company limited by shares, registered office: 1 Wythall Green Way, Wythall, Birmingham, B47 6WG (registered in England, no. 05460862). SunLife Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register (registration no. 769427).

You can contact us by post at SunLife, PO Box 1395, Peterborough, PE2 2TR or by phone on 0800 008 6060.

If you choose to add Funeral Benefit Option to your Guaranteed Over 50 Plan the funeral services are arranged and provided by Dignity Funerals Limited. Dignity Funerals Limited is a company registered in England and Wales No. 00041598. VAT registered No. 486 6081 14. 4 King Edwards Court, King Edwards Square, Sutton Coldfield, West Midlands, B73 6AP. Telephone No. 0121 354 1557. Fax No. 0121 355 808. Part of Dignity plc. A British Company. Dignity is not authorised or regulated for this activity by the Financial Conduct Authority or the Prudential Regulation Authority but is a member of the National Association of Funeral Directors.

Who provides the Funeral Plans?

The funeral services are arranged and provided by Dignity Funerals Ltd which is not authorised or regulated for this activity by the Financial Conduct Authority or the Prudential Regulation Authority but is a member of the National Association of Funeral Directors.

The life insurance policy that pays for your funeral will be provided by Phoenix Life Limited, trading as SunLife.

Who provides My Smarter (ISA)?

My Smarter (ISA) is provided by Scottish Friendly Asset Managers Limited. Authorised and regulated by the Financial Conduct Authority. Details can be found on the Financial Services register, registration No. 188832. Member of The Investment Association. Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.

Who provides the Will writing services?

Hugh James is authorised and regulated by the Solicitors Regulation Authority (SRA Number:303202).

The information contained on this website is based on Hugh James' understanding of the law of intestacy in England and Wales only as at April 2014. The law in Scotland and Northern Ireland is significantly different. This is for information purposes and is not intended to be legal advice.

Who provides Family Life Insurance?

SunLife Family Life Insurance is provided by Scottish Friendly Assurance Society Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Details can be found on the Financial Services register (registration number 110002). Registered Office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ. 

Who provides SunLife Pet Insurance

SunLife Pet Insurance is arranged and administered by BDML Connect Limited. BDML Connect Limited is authorised and regulated by the Financial Conduct Authority (No. 309140). Registered in England and Wales Number 02785540. Registered Office: 45 Westerham Road, Bessels Green, Sevenoaks, Kent, TN13 2QB.

Who provides SunLife Home Insurance

SunLife Home Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.

Who provides SunLife Car Insurance

SunLife Car Insurance is arranged and administered by BISL Limited and underwritten by a panel of insurers. BISL Limited are an intermediary authorised and regulated by the Financial Conduct Authority. Registered in England no. 03231094. Registered office Pegasus House, Bakewell Road, Orton Southgate, Peterborough PE2 6YS.