No Gap for Car Insurance Over 50

While women typically pay less for their car insurance over 50s could find the opposite to be true, research has revealed.

On average women pay nine per cent less for their car insurance than their male counterparts, money-supermarket has found.

However, age has been found to be a major contributing factor in the cost of cover and once motorists pass the age of 50 a woman is likely to be paying more than a man.

The average cost of car insurance for a woman in her 20s is £320 compared with her male counterpart who should expect to pay around £370.

Yet once drivers need car insurance over 50, a man will pay up to £16 less a year than a woman.

Peter Gerrard, head of insurance research at money-supermarket, said: “Older drivers generally find their cars cheaper to insure so this can make it tough for specialist insurers to offer better value for elderly drivers.”

This news story was written by Adfero Ltd

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