Car insurance costs for seniors

Recently, in the United Kingdom, some news has caught the attention of the population and they are linked to the increase in car insurance for the elderly. This is becoming more and more constant and increases in some cases reach 50% compared to the previous year.

Insurers have reported that this adjustment is necessary because depending on the driver's age group, the risk of accidents increases due to reduced reflexes, no matter how careful they are. Another alleged fact is that they are not the only drivers of the vehicle and this increases the risks.

In Brazil

In Brazil the situation is very different from what happens in the United Kingdom, because here car insurance for the elderly is still cheaper than for the rest of the population. This happens because insurers view drivers over 60 as more cautious and they tend to get involved in fewer accidents.

Furthermore, they don't usually drive their cars at night or early in the morning, which reduces the risk of theft and collisions. Because of this, this factor already gives the insurance company a good reason to charge less.

On average, the cost of insurance for an elderly person tends to cost less than for a young person, but this may vary depending on the location and vehicle model. A Minute Insurance carried out a survey considering men aged 20, 35, 45 and 60 in the cities of Brasília, Belo Horizonte, Rio de Janeiro, Porto Alegre and São Paulo.

When comparing the value of insurance between a person aged 45 and another aged 60, the average variation in value is 33%. When comparing a 20-year-old and a 60-year-old in the city of São Paulo, the variation can reach 177% for the same model.

If this trend continues we will not need to worry, because the elderly continue to be those who are least involved in accidents and therefore pay less. But it seems that this is not the same reality that has been happening in some countries around the world.