Why the Over-50s Should Demand Cheaper Insurance
It’s the graph some car insurers don’t want you to see.
The diagram above clearly shows who are the safest drivers on the road – FiftyUps.
Drivers in their 50s, 60s and 70s have fewer accidents, according to a report from the Older Driver Safety Advisory Committee‘s Report to the Queensland Department of Transport, in December 2011.
So why are they being asked to drive less in some states such as Victoria, and why aren’t they all paying less for their car insurance?
As FiftyUp Club CEO and former NRMA Insurance boss David Issa puts it:
“We’re the safest drivers, we follow the road rules, we’re careful with our cars, and we tend to drive less … But unfortunately our loyalty doesn’t get rewarded by most car insurance companies.”
Quite the opposite: most insurance companies use the premiums of over-50s to cross-subsidise more reckless, younger drivers.
That’s why FiftyUp Club members and other drivers over 50 should demand more from their car insurer.
Remember: You need to be prepared to move or you could be taken advantage of. You don’t generally need to wait for your car insurance renewal to arrive before you switch, so if you’re getting a raw deal, vote with your feet – or your wheels.
Make sure you get a reward for being statistically one of the safest drivers on the road.