Insurance Renewal Cheaper on reaching 60?

[Gaumon]

Hi Chaps,

We've just received the insurance renewal on my OH's car: £177.40 against last year's £245.48

No circumstances have changed - with the exception that she turned 60 during the year. Would that be enough to explain it, or have premiums started to come down a little generally?

Not complaining, naturally, but it seems a fair old reduction...

[twocolours]

Renewed mine recently, it was the first time in the last few years it has gone down. £460 down to £370 I think it was - I was pleasantly surprised.

[TwigtheWonderkid]

Gaumon said:

Hi Chaps,

We've just received the insurance renewal on my OH's car: £177.40 against last year's £245.48

No circumstances have changed - with the exception that she turned 60 during the year. Would that be enough to explain it, or have premiums started to come down a little generally?

Not complaining, naturally, but it seems a fair old reduction...

Who knows? They might have an age break at 60. Or it could be 55-64 and another factor is responsible.

[Mark V GTD]

I think it was Money Saving Expert reporting an on year reduction of 16% that could explain it.

[BIGDAI]

Received my renewal earlier this week - £224 compared to £320 last year with no difference in circumstances other than l am now 66 and in receipt of my state pension!

[Mr Tidy]

When I worked in the motor insurance business in the 80s there was a 10% discount for 61+, and when I turned 61 in 2020 my renewal was £40 cheaper than the year before.

But in 2021 it went down another £40 or so, but I put that down to far less accidents with travel restrictions. Shame it has crept up every year since!