Car insurance for drivers over 50s

Published: August 31, 2015

Updated: May 15, 2018



Many drivers assume when they pass fifty that the good times of affordable premiums are over, even if they have built up years of no claims, have the “right” car, and have a clean record. Failing eyesight, decreasing reflexes, and in some cases memory loss are more common in this age group so insurers assume more risk and hike premiums.

That is not necessarily all true, and certainly not at 50, which is the new 40 after-all. Sure, when a driver starts pushing to their seventies premiums are likely to soar, not to mention a host of other restrictions are likely to rear their heads.

If you are in your fifties you are unlikely to see much difference, although it is simply fact that insurance providers charge more money for policies as you age. There are, however, still ways to get a good deal on your coverage even if you are considered a senior driver. Again, it is when you reach 70 that you will start seeing a real difference, and in fact insurers look favorably on the 55-70 age group as these drivers are usually very safe and very experienced.

If you are a senior driver and want to drop your premiums further, you can:

Drive less

Obviously, this is out of the question entirely for some people, but it is within reason that as a driver gets older they use their car less. Older drivers sometimes use their vehicles less, and if you are doing just that you absolutely should inform your insurance company about this. You may be eligible for a discount as a limited usage driver, something a company will check with a new technology called telematics. This technology allows the insurer to see exactly how much you use your car and could lead to you saving money.

Be safe

Insurance companies love it when your safe, a driving geek if you will. Take courses tailored to senior drivers, choose a car that is known for being very safe and cheap to insure.


Do you have home, life, or other insurance? Contact your insurance company to see if they offer more than one insurance type in a bundled policy. Most do (for example, Aviv Canada allows up to three separate coverages on one policy) and the result is almost guaranteed savings compared to taking out different coverage.

Check your coverage

Take a look at the benefits you currently have on your policy and decide which ones (if any) you can drop from your policy. Canadian and Ontarian law demand that you have some coverages in any car insurance package, but others can be removed if you feel you do not need them.