Car insurance, it can be quite an expense can’t it? Depending on your circumstances and the car you drive, you could end up paying through the nose just to get yourself from A to B. However, it doesn’t have to be like this. Whilst there are many ways for you to lower your premiums, nothing works better than hitting a few landmark ages.

Why? Well it’s all because of experience and trust. The more experienced you are, and the more trustworthy you are with regards to driving safely, the more you’ll be rewarded with cheaper premiums. In most cases, insurance premiums are calculated based on risk. From the data they receive from claimants, insurers evaluate the risk associated with certain age groups for example. This is why many first time drivers or young drivers have to pay significantly higher premiums than most. But does this mean that over 50s are rewarded with cheaper insurance policies?

Turning 50 certainly helps to reduce your car insurance premiums; however this is not a blanket rule. In fact, many drivers over the age of 50 don’t actually see a significant decrease other than when they turn 25. In this sense, it’s best not to just rely on reaching this landmark age to get cheaper premiums. For drivers that still have points on their licence and have made several claims in the past, you may not notice much of a difference at all, but for those whose premiums fall year-on-year thanks to no claims, you may find yourself a little better off when reaching 50.

So, is there a landmark age after 50 that will help reduce premiums? Well once you’ve hit retirement it’s also likely that you’ll be rewarded with a cheaper policy, but again, it really depends on the car you’re driving as well as your own driving history. Remember it’s not just about experience, but trust too.

With this being the case, how can people over 50 years old reduce their car insurance premiums? Here are just a few tips:

  • Shop around for the best deal
  • Lower your mileage
  • Choose a smaller engine
  • Ensure it is parked safely during the day and evening
  • Live in a safer neighbourhood

So, first thing’s first, when it comes to purchasing car insurance, be sure to take advantage of the Internet and shop around for the best deal. When doing so, always ensure you are completely accurate and honest with your details, as any minor difference can not only affect the price you pay, but also your chances of making a successful claim.

It’s not always best to rely on your age. You will, for sure, see a reduction in the amount you pay over time, but that is assuming your driver’s history and record is up-to-scratch. Turning 50 is a landmark, as well as retiring, but to ensure you get cheaper premiums for then, ensure you’re putting in the effort today.