Elderly Drivers, High Insurance Prices - Careline Alarms

Elderly drivers and homeowners are being duped out of hundreds of pounds each year. There’s been many reports both past and present of specialist insurers who claim to offer cheaper prices for over 50’s, whom are routinely hiking premiums when their annual insurance contract ends.

Back in 2015, two firms which are supposed to represent the needs of over 50’s, Saga and Rias, received many customer complaints. The complaints accused Saga and Rias of taking advantage of older customers, who can be more trusting and less likely to shop around for new deals.

“In one case, a driver’s annual car cover premium shot up by 70 per cent with Rias — despite a clean driving licence for 47 years and no claim for 26 years.

In another, a Saga home insurance policy rose by 25 per cent to £967 at renewal — only for the firm to later promise to match an identical quote for £241.64 offered by a rival.”

In more recent news, this story has resurfaced in Ireland. “One 73-year-old told how he was being asked to pay more than €1,000, almost three times higher than in 2014.” – You can read more on this story via The Sun here.

How to help elderly drivers

Check Before Renewing – over 55’s are far more likely to renew their contract without checking that the payments haven’t increased. Make sure your elderly loved one doesn’t just blindly trust their insurance provider without all the facts. It’s also important to know whether your renewal is automatic – watch out for increased costs, letters should be sent prior with a breakdown of new prices before the renewal goes ahead.
Shop Around – many over 55 year old will simply renew without shopping around for the best price. You can help elderly drivers find a better price through websites like MoneySuperMarket.com. Many of the best offers are found online, but many elderly drivers don’t use the internet and will need your help.
Help Them Complain – if there is an issue with their provider be sure they have the confidence to know their rights and complain, help them write down their points before phoning so they get their point across clearly.

Get in touch

Are you concerned about this news? Contact us at Careline with your opinions! Has a relative of your suffered from high prices when their annual insurance contract ends? Let us know about it by tweeting us @Careline365.