Drivers above the age of 70 have been told one way they can cut car insurance bills. Experts stressed that reducing the number of miles road users travel each year can drastically cut prices, as motorists are seen as lower risk.
Pensioners usually travel less than commuters who are driving to work, so informing insurance firms that you plan to travel shorter distances would make individuals less of a liability and this is likely to be reflected in annual charges. Of course, never openly lie to insurance firms in a desperate bid to secure cheaper rates as this could backfire.
Experts at Which? said: “Less mileage equals lower risk to insurers and therefore cheaper cover. So try to limit the miles you clock up over the year if you can. But be honest about it. Lying could lead to your policy being invalidated.”
According to GoCompare, motorists aged between 65 and 69 are charged among the cheapest car insurance rates on the roads with bills around £329 per year.
However, prices steadily rise later in life with road users over the age of 85 paying more than twice as much as drivers aged between 60 and 64.
Typically, costs increase as motorists are considered a higher risk later in life due to a range of concerns such as the onset of health conditions, poor eyesight and slower reaction times.
However, deciding to stay at home more, relying on public transport or car sharing with friends and family are all ways motorists can cut the mileage off their vehicle and their policy.
According to data from Taking Care Personal Alarms, the average annual mileage of drivers over 70 is 1,665 miles. This is around 28% lower than the average for drivers across other age ranges.
Go Compare added: “If you do not use your car often and no longer commute, you’re less of a risk. So let your insurer know your annual mileage, but make sure that you answer honestly. If you drive more than the stated miles in a year, you can risk invalidating your insurance.”