Car insurance bills could rise for elderly motorists when they hit a certain age.
Elderly drivers who hit a milestone birthday should expect to see their car insurance bills rise, according to experts. Ian Wilson, a car insurance expert and Managing Director of Tiger.co.uk, warned motorists in their mid-to-late 70s could be expected to pay higher premiums to get behind the wheel.
Drivers aged between 75 and 79 this year could be forced to spend more to stay on the road in 2025. Ian said: “Older drivers are typically considered one of the safest age groups, which is why the over-65 category enjoys the cheapest premiums.
“However, as drivers approach mid to late 70s, they often see their premiums start to increase, as accidents at that age can be more frequent and injuries could be more severe.”
Cash-strapped elderly road users already have to stump up hundreds of pounds in insurance bills to get behind the wheel. Due to safety concerns, prices tend to rise once motorists reach their late 70s, reports the Express.
Drivers between the ages of 86 and 90 have the second-highest average claim cost on the road, just lower than younger drivers 18-20. Drivers aged above 91 are the third highest, highlighting how older drivers can be considered more of a risk to insurance firms.
Analysis from Which? shows that drivers aged between 75 and 84 will pay £417 in annual car insurance fees, up from £336 between 65 and 74.
Budget Insurance claimed that several reasons will contribute to the increase in car insurance premiums in later life. Higher claim fees and increased accident risks are two of the biggest, with health issues also a major concern.
Budget said that age-related health issues, such as deteriorating eyesight or slower reaction times, can tend to make driving more hazardous.
Age UK explained: “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.”
Leading experts recently said older drivers will also automatically lose certain freedoms when they reach 70 years of age.
According to the Older Drivers Forum, motorists will lose the right to drive heavier vehicles above 3,500kg and minibuses when they reach the milestone birthday.
When drivers turn 70, the organisation states the DVLA will strip them of their entitlement to drive C1 and D1 vehicles, which could be a major blow for many individuals.
Experts are now warning motorists who want to keep these allowances that they should complete a series of application forms.
