Car insurance: the policy becomes more and more expensive with age: is that fair? 75-year-olds pay significantly more than younger vehicle owners – News – Mercedes fans

The motor vehicle policy is not always a good “fair insurance”. This is felt above all by the silverback in the paddock. With increasing age, the premiums for motor vehicle insurance increase noticeably. Anyone who is still behind the wheel at the age of 75 pays an average of 48 percent more than a comparable driver at the age of 55. This is shown by a recent study by the financial adviser Finanztip.

Although according to figures from the Federal Statistical Office, senior citizens are less likely to be involved in road accidents than their proportion of the population, most motor insurance is becoming more and more expensive with age. In the Finanztip study, 65-year-olds pay an average of 8 percent more for car insurance than 55-year-old drivers. 75-year-olds have to pay higher contributions: on average 36 percent more than the group of 65-year-olds.

48 percent surcharge: 75-year-olds pay significantly more for vehicle insurance than younger vehicle owners

At first glance, the surcharges for older people are not noticeable. “Those who have been driving accident-free for a long time benefit from the discount in the higher no-claims classes, the no-claims discount. That pushes the premium. As a result, many seniors do not even notice that their basic premium has increased because of their age,” reports Finanztip. How high the age surcharges are differs significantly from insurer to insurer. Finanztip therefore recommends all senior citizens in particular to check their car insurance annually and, if necessary, to switch to a cheaper provider with at least equally good conditions. (Image. Freepik / prostooleh)

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