Did car insurance £ increase or decrease when you retired?

[redbulletv8]

Hi all, I am about to retire (66) and will notify both car insurance companies (daily & classic) and wondered how those who have retired got on money wise when they notified their insurance companies?
Mileage on the daily will drop drastically from around 15K a year to around 5K at max, classic won't change at all so i'm hoping it stays around the same.

Regards, rb.

[georgeyboy12345]

Yeah but your brain is addled, hence the need to retire

[timberman]

Can't say I noticed much of a difference,

also instead of reducing our mileage it actually went up because we're always going out now and work was only a couple of miles away anyway.

[littleredrooster]

Mine seemed to go down when I retired, but has taken quite a hike now that my age begins with a 7...and my annual travel insurance has almost trebled even though I have fewer reportable conditions.

[hersh]

Very little difference for us
Both cars stayed around £120

[CraigyMc]

hersh said:

Very little difference for us
Both cars stayed around £120

£120?

Do you live on your own island?

[littleredrooster]

CraigyMc said:

£120?

Do you live on your own island?

Is that unusual? When I said up there ^ ^ that my insurance had taken a hike, the MX-5 went up from ~£140 to ~£180. I'm sure an eco-box would have been cheaper.

[CraigyMc]

littleredrooster said:

CraigyMc said:

£120?

Do you live on your own island?

Is that unusual? When I said up there ^ ^ that my insurance had taken a hike, the MX-5 went up from ~£140 to ~£180. I'm sure an eco-box would have been cheaper.

Yes, it's unusual.

For a 65 year old the average is £448 as at Feb 2026. For all ages, average £711.

Data here https://www.confused.com/compare-car-insurance/ave...

[alscar]

redbulletv8 said:

Hi all, I am about to retire (66) and will notify both car insurance companies (daily & classic) and wondered how those who have retired got on money wise when they notified their insurance companies?
Mileage on the daily will drop drastically from around 15K a year to around 5K at max, classic won't change at all so i'm hoping it stays around the same.

Regards, rb.

You only need to mention retirement when you come to renew your policies.
The annual mileage reduction should potentially reduce the premium more than any additional premium due to retirement which I would doubt anyway.
It will also depend on your existing occupation and whether that made a difference to rating.
I “ early retired “ at 60 and my renewal wasn’t up until the following April and it made no difference.

[hersh]

Those figures are correct!
Can post them up if requested (suitably redacted)
2015 civic tourer
2005 E46 convertible
I'm 66 and wife is 72

Edited by hersh on Saturday 2nd May 13:12

[alscar]

Those numbers are averages so for the price you are paying ( which is extremely low ) there will obviously be others with much larger premiums.
For our 5 cars on a personal fleet policy with Chubb for instance my premium was £6,755.

[hersh]

alscar said:

Those numbers are averages so for the price you are paying ( which is extremely low ) there will obviously be others with much larger premiums.
For our 5 cars on a personal fleet policy with Chubb for instance my premium was £6,755.

Ouch!
I do shop (and mostly change) every year but assume everyone else does the same

[alscar]

hersh said:

Ouch!
I do shop (and mostly change) every year but assume everyone else does the same

Most probably do but I do mine through a broker and try to keep with the same Insurer providing any increase are sensible.
For some reason ( nothing had changed ) Chubb this year fancied another a 15% premium hike which after complaining with reasons saw it reduced to a tiny reduction over last years.
Generally rates have been reducing over the past 12 months although Car Insurance is very cyclical and market share driven so that also makes a huge difference.

[Car bon]

Mine went up slightly but not much - I didn't have commuting use anyway.

I guess it also depends what profession you had before retirement as they have different weightings, so some may go up & others down.....

[Monkeylegend]

CraigyMc said:

littleredrooster said:

CraigyMc said:

£120?

Do you live on your own island?

Is that unusual? When I said up there ^ ^ that my insurance had taken a hike, the MX-5 went up from ~£140 to ~£180. I'm sure an eco-box would have been cheaper.

Yes, it's unusual.

For a 65 year old the average is £448 as at Feb 2026. For all ages, average £711.

Data here https://www.confused.com/compare-car-insurance/ave...

I am 73 and pay £197 for my 2015 528i BMW and my partner is 69 and pays £167 for her 2022 Renault Scenic.

[mmm-five]

I'm only 56, and my Z4MC costs £215/year to insure (VED is £790 mind) for SDPC+B (5,000 mile policy, parked on the road/drive in Liverpool).

Unfortunately my other car is more than double that....but is used for double the miles, and has about 1/2 the no claims discount.

Edited by mmm-five on Saturday 2nd May 14:30

[Pica-Pica]

Very little difference. Changes have mostly reflected cost changes in the insurance industry.

[Smint]

This thread reminded me because i'd clean forgotten, i've gone from full to part time and just got off the phone to my insurer to let them know, no change to premium just noted on the policies.

[Foss62]

CraigyMc said:

Yes, it's unusual.

For a 65 year old the average is £448 as at Feb 2026. For all ages, average £711.

Data here https://www.confused.com/compare-car-insurance/ave...

I don’t think it is unusual.

These figures do seem extremely high. Mrs Foss (late 50s) has just bought a brand new car and comprehensively insured it with a major insurer, including the two ‘kids’ (very early 20s) and me (mid 60s) for less than £250. I bought my company car when I retired, and insured it for less than that 65 yr old figure despite having no NCD. Now with a couple of years NCD it is much cheaper.

I suspect they are skewed by a relatively small proportion of massive figures for Range Rovers in Central London etc?

[bobtail4x4]

CraigyMc said:

littleredrooster said:

CraigyMc said:

£120?

Do you live on your own island?

Is that unusual? When I said up there ^ ^ that my insurance had taken a hike, the MX-5 went up from ~£140 to ~£180. I'm sure an eco-box would have been cheaper.

Yes, it's unusual.

For a 65 year old the average is £448 as at Feb 2026. For all ages, average £711.

Data here https://www.confused.com/compare-car-insurance/ave...

Craig, mrs bobtails freelander was £124 last year, and a £15 voucher off that, it better "up north"