Drivers born before 1976 could reduce their car insurance premiums by simply ticking a box on their renewal form. According to Compare the Market, nearly half (48 per cent) of UK motorists aged 51 and over have never investigated whether changes in their driving habits could lower their insurance costs.
Lack of Awareness Among Older Drivers
A third of respondents were completely unaware that lifestyle shifts—such as retiring, reducing annual mileage, or no longer commuting—could affect their premiums. Many older drivers continue paying for coverage based on outdated circumstances.
Amy Rootham, car insurance expert at Compare the Market, said: “As people move into retirement or start working fewer hours, their daily routines naturally change. For many, this means spending less time on the road, ditching the daily commute, and clocking up fewer miles.”
Common Misconception About Updating Policies
Rootham added: “However, our research suggests that a large number of drivers are forgetting to pass this vital information on to their insurance providers. Failing to update your policy could mean you're paying a premium based on circumstances that no longer reflect how you use your car.”
“For instance, commuting adds to your premium, so if you are only using your car for social and leisure purposes, you should let your insurer know.”
“It is also a common misconception that updating your details will automatically result in a higher premium. In reality, letting your insurer know that you drive less or have retired could actually bring your costs down.”
Tips for Lower Premiums
The less likely you are to make a claim, the cheaper your premium is likely to be. Compare the Market previously advised checking your car’s insurance group before buying, as some models cost more to insure than others.
Additionally, comparing quotes around 20–27 days before your renewal date may yield better prices than waiting until the last minute. Drivers should also compare different levels of cover, because comprehensive insurance isn’t always the most expensive option.
