The commercial arm of a nationwide charity for the elderly have expressed concern that the current cost of motoring may drive some of the UK’s older citizens off the road.
Age UK is one of the biggest charities in the UK and specialises in representing the needs of Britain’s older generation. A recent report by its commercial sector, Age UK Enterprises, reveals that older drivers are savvy when it comes to the price of a new car but not so alert when it comes to ancillary charges. The report recognises that 4 in 5 people over the age of 55 own a car, the biggest percentage in any age group, and generally will focus on the cost of the car when they make a purchase, usually going for the cheapest option. However, when it comes to insurance they may only get a car insurance quote from their current insurer. The elderly motorists could be paying well over the odds as insurance makes up a big chunk of the average £3,000 that drivers spend on motoring costs apart from the cost of the vehicle.
Managing Director of Age UK Enterprises, Gordon Morris, believes many older motorists can cut their costs and said “With the cost of running a car soaring every year, we encourage every driver to review what they currently spend on their car, and particularly their insurance cover. Consumers must shop around and ensure they have the information they need to make an informed choice, buying only what provides best value and appropriate cover for their needs. However, they also need to consider that some providers offer low initial prices which then rise sharply on renewal or come with high excess, making the need to shop around even more essential.”