Car insurance becomes more expensive as you get older: This is how you can save

Car insurance becomes more expensive as you get older: This is how you can save

Despite longer experience, car insurance becomes more and more expensive as you get older. A survey has shown how strong. This way you can still save.

From the mid-50s onwards, insurance becomes noticeably more expensive for car owners: in some cases the costs double as they get older. The magazine “Finanztest” determined this in a comparison between five different offers. The basis was a model customer with a constant no-claims class (SF 35) and increasing age (55, 60, 65, 70, 75, 80 years). Result: While the average price for a 55-year-old is still 331 euros, for a 70-year-old it rises to 432 euros and then rises steeply to 661 euros for an 80-year-old.

What is causing this sharp increase? The basis for the tariff policy is the accident statistics, according to which older people cause damage more often than younger people. From a legal point of view, age supplements are permissible based on this data, according to “Finanztest”. You can't defend yourself - but there are ways to keep costs down.

According to a report by www.t-online.de, there are various ways to save when insurance premiums rise:

1. If you want to keep your existing contract

You can check the registered annual mileage: If you are significantly lower in everyday life (e.g. 7,000 instead of 12,000 kilometers), you can have the value adjusted and save around 50 euros. You can also think about only having your car repaired in a workshop specified by the insurance company (retention of a workshop, saving around 40 euros per year) or paying your contribution annually instead of monthly (saving 30 euros per year). A deductible for comprehensive insurance, i.e. a share in any damage, should be around 150 euros for partially comprehensive insurance and 300 euros for fully comprehensive insurance. If you have an older car, you can also consider whether you still need comprehensive insurance.

2. Tariffs with telematics

For tariffs with telematics, the driving data (speed, acceleration, braking behavior) is recorded. A proactive driving style can lead to premium reductions of up to 30 percent. However, not all insurance companies offer such tariffs.

3. Younger partner concludes the tariff

If there is a significant age difference between a couple, it may be worthwhile for the younger partner to sign the contract. According to the sample, the contribution could be up to 123 euros less.

4. Compare tariffs

Check comparison portals to see whether there are cheaper alternatives to your policy. However, “Finanztest” points out that some insurance companies exclude older drivers from their comprehensive insurance policies.

5. Protect no-claims classes

With discount protection you can preserve your rating despite an accident - but this costs extra. Otherwise, if there is minor damage, you can pay the costs yourself.

By implementing these tips, car owners in their mid-50s can reduce the potential impact of the increase in car insurance premiums and keep their costs down. It's important to educate yourself about your needs and the insurance market to get the best savings.