Car insurance for seniors and pensioners

ELISE DONALDSON

Are you over 60 and looking to take out comprehensive car insurance or review your current policy? To help you find cover that is right for you, Canstar weighs up the costs and features of a range of comprehensive car insurance policies on its database to reveal top-rated policies for seniors.

Do you pay more for car insurance if you are an older driver?

The premiums you pay for your car insurance can depend on a range of factors, including your age, vehicle type, location and driving history. Typically the older you get, the less you pay in premiums, as younger drivers are statistically more likely to be involved in an accident and make a claim. For example, according to the Transport and Accident Commission of Victoria, in their first year of driving, young drivers in the state are almost four times more likely to be involved in a fatal or serious injury crash than more experienced drivers. However, car insurance can start becoming more expensive for drivers over the age of 60. People in this age group are statistically more prone to suffering from health problems that could affect driving ability, such as impaired hearing and vision, slower reaction times and sudden heart or brain issues. This means insurance companies may spend more on claims for older drivers, and thus charge higher premiums as a result.

On the other hand, there are a range of discounts that could be available to older drivers, such as Seniors Card scheme participant perks, driving record rewards, no-claim bonuses, and other provider-specific programs. It might also pay to discuss with your insurer where you car is parked and how much you are driving it, as this could also result in a lower premium in some cases.

While price is an important factor in selecting a car insurance policy, it isn’t usually wise to choose a policy simply because it offers the cheapest annual premium. It can be a good idea to read the product disclosure statement (PDS) of any insurance product you are considering to understand the cover on offer and whether it will meet your needs.


Car insurance policies for seniors on Canstar’s database

To find the best seniors car insurance to suit your circumstance, it could be a good idea to compare policies. Each state and territory in Australia differs slightly when it comes to car insurance offerings. For this reason, we have put together a list of some of the top-rated car insurance policies on Canstar’s database for each state and territory (sorted alphabetically) to help you find a policy that may suit your needs as a senior driver.

Australian Capital Territory

The comparison table below displays some of the policies currently available on Canstar’s database for 60+ year old driver seeking cover in the Australian Capital Territory without cover for an extra driver under 25. Results are sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s car insurance comparison selector to view a wider range of policies.

New South Wales

The comparison table below displays some of the policies currently available on Canstar’s database for 60+ year old driver seeking cover in New South Wales without cover for an extra driver under 25. Results are sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s car insurance comparison selector to view a wider range of policies.

Queensland

The comparison table below displays some of the policies currently available on Canstar’s database for 60+ year old driver seeking cover in Queensland without cover for an extra driver under 25. Results are sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s car insurance comparison selector to view a wider range of policies.

South Australia

The comparison table below displays some of the policies currently available on Canstar’s database for 60+ year old driver seeking cover in South Australia without cover for an extra driver under 25. Results are sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s car insurance comparison selector to view a wider range of policies.

Tasmania

The comparison table below displays some of the policies currently available on Canstar’s database for 60+ year old driver seeking cover in Tasmania without cover for an extra driver under 25. Results are sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s car insurance comparison selector to view a wider range of policies.

Victoria

The comparison table below displays some of the policies currently available on Canstar’s database for 60+ year old driver seeking cover in Victoria without cover for an extra driver under 25. Results are sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s car insurance comparison selector to view a wider range of policies.

Western Australia

The comparison table below displays some of the policies currently available on Canstar’s database for 60+ year old driver seeking cover in Western Australia without cover for an extra driver under 25. Results are sorted by Star Rating (highest to lowest) followed by provider name (alphabetical) and features links direct to the providers’ websites. Use Canstar’s car insurance comparison selector to view a wider range of policies.


Seniors car insurance policies

While all car insurers offer cover for senior drivers, there are some providers that offer policies designed specifically for those over 50. Some of these include:

How to save on car insurance premiums

If you are looking to cut down on your car insurance costs as a senior driver, you may be able to reduce your premiums by:

  • Checking if you are eligible for any discounts

Some insurers may offer senior-specific reductions, multi-policy offers, or online discounts for customers.

  • Parking securely

You may be able to save on premiums if you park your car in a secure location, such as in a garage or carport, rather than on the street.

remote controlled garage door
Source: Volkova Vera (Shutterstock)
  • Completing a safe driving course

Some insurers may offer premium discounts if you complete an approved course.

  • Changing the type of car you drive

It is typically more expensive to insure cars that are of a higher value, considered a higher risk of theft, more expensive to repair or have less safety features. It may be possible you could receive a cheaper premium if you drive a car that factors in these considerations.

  • Checking whether a no-claims bonus applies

Some insurers offer no-claims bonuses that are designed to reward drivers who do not claim on their insurance. These typically increase each year you don’t make a claim, up to a maximum number of years.

  • Installing anti-theft devices

Some insurers may reward drivers with cheaper premiums if they install these devices, such as car alarms, immobilisers or tracking devices.

  • Increasing your car insurance excess

Increasing your excess could help bring your premiums down. However, doing so will mean you will have to pay more out of pocket if you have to make a claim on your car insurance.

Speak directly with your insurer about the discounts that may apply to you.

You may also be able to save on your car insurance by comparing a range of car insurance policies to find one that will suit your needs and budget. You can compare comprehensive car insurance policies on Canstar’s database.

Co-author: Ellie McLachlan Updated by Amanda Horswill

Cover image source: comzeal images/Shutterstock.com


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