Age discrimination in car insurance: why do older and younger people pay more?
Younger and older people often struggle to get affordable car insurance. Young people pay a much higher premium, seniors from a certain age are even refused by certain car insurers. But are insurers prepared for the fact that the Dutch are getting older and staying more vital?
Some actions of insurers are hard to swallow. Suppose you are seventy years old and you have never caused any car damage. You get a letter from the car insurance company saying that the premium is going up because of your age. Out of irritation you will probably cancel your car insurance and switch to another insurer. Switching is possible, but not all insurers will accept you.
Influence of age on car insurance
Insurers use a higher premium or a maximum age for taking out a new car insurance policy as a risk consideration. According to figures from the Centre for Insurance Statistics, insurers cannot simply say that senior citizens are a greater risk. It turns out that elderly drivers between 66 and 75 years old do not claim more damages on their car insurance than drivers between 28 and 65 years old. If there is no justification for stricter conditions for senior citizens, one can say that there is age discrimination. Older people are less interesting for insurers, but that is no reason to charge higher premiums.
Medical examination from the age of 75
Older motorists are examined before their driving licences are renewed. From the age of 75, motorists undergo a medical examination every five years. If it is no longer responsible to drive, the driving licence will not be renewed. Until 2014, the age limit was set at 70. On average, we are getting older and staying vital for longer. It is possible that the age limit will increase even further in the coming years. It is not up to insurers to judge the driving abilities of senior citizens based on age. Based on age, they know nothing about the driver himself.
Even if you are under 75, it is important to report any medical restrictions that affect your ability to drive.
Do not accept higher car insurance premiums
Not all insurers treat senior citizens differently from policyholders up to retirement age. You can compare dozens of insurers at once via our comparison tool. You will be asked for your age, so the insurers who are difficult to date will be filtered out of the results immediately. There is also a good chance that you can save a considerable amount of money each year by switching. Especially if you have not switched to another car insurance company in recent years.
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