Pensioners forced to pay more for car insurance

Mon, 21 Jun 2010

Britons over the age of 65 are being forced to pay over the odds for their car insurance premiums, new research suggests.

According to Which? Money, there is a marked differential in the price of car insurance policies as age increases.

As an illustration of this, Which? pointed to the cost of an annual policy with Saga for a 75-year-old woman, which at £702 is 74 per cent cheaper than a policy from the same car insurance company for an 85-year-old.

"Our research shows that many over-65s are getting a raw deal when it comes to arranging insurance simply because of their age," commented Which? chief executive Peter Vicary-Smith.

"Restrictions imposed by insurers leave many people struggling to pay increased premiums just when they may need cover the most."

Mr Vicary-Smith added that, due to the huge price differences, the survey serves to highlight the importance of shopping around for the best available deal.

Which? has also warned drivers to ensure they inform their insurer if they modify their car as, by law, it is the customer's obligation to mention anything which might affect a company's decision to offer cover.
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