CC Insurance - penalised for retiring

My insurance went up when  I said I'd been on a speed awareness course. Surely having been made aware of the problems of speed my insurance should have reduced!

I wouldn't have told them

I never did MM

The club insurance is a brokerage and does not set the premiums, the insurers do but if the insurer is not competitive then they should move the business.

I am afraid though age will vount against you. Statistically once over 60 the risk in reases as older drivers have more accidents than those in the 30 to 50 age group. I did read recently that in fact they are now starting to overtake young drivers for claims costs so I am afraid higher premiums are going to happen as you get older but different companies might increase the premiums at different ages according to how their statistics stack up.

Wildwood,  

I have not heard before, any suggestion that drivers in the 60-80 bracket have more accidents than younger drivers.  Drivers older than 80 perhaps, but even then it is much more dependant on their general health and their level of situational awareness.

If indeed the CC Insurance is penalising older members, then I will most definately look elsewhere when my caravan Insurance next comes up for renewal.

TF

It's not the number of accidents which is the issue. The research indicates that elderly drivers are much more likely to be involved in what the insurance industry call 'catastrophic incidents', namely those with claims exceeding £50,000. 

Frankly I believe that it is rubbish!  The problem here is that very few "Consultants" actually reveal who is paying for their research!

I actually believe that by law all consultants should be forced to reveal who exactly paid for their research/ report at the time of its publication!

And I say that because for twelve years I was one of the so called specialists in my area of research. Indeed it was my insistance that I disagreed with the policy and approach of my paymasters that brought about my enforced 'retirement".

TF

All insurance is based on actuarial data wether that's car, life home etc. I can't say if you are retired or over a certain age you are more or less likely to have a prang however we all know as we get older we are not as sharp as we once were and perhaps we are more likely to be in an accident. This seems to be based on the fact the OP has retired so more likely to be using the van more which means there is more chance of being involved in an accident.  Unfortunately unlike motorhomes it's impossible to measure the actual use (mileage) so I guess insurer's load the premium to cover costs. Not saying it's right but for them if they insure you they have to weigh the risk versus cost.

tigerfish

You may find this recent report interesting. This is where the data comes from. I will totally agree that who funds research is critical to the validity and reliability of it.

When I retired mine stayed the same, although they would give no discount for removing the use in conjunction with ones work add on, which is still there. So in effect it went up. However, now when it goes up, how do I differentiate between what they are adding on for my increasing age and what is just inflation and general increases due to market forces. I know I can compare prices, and I do to an extent. ( not the go compare type sites as they want to many details up front ) I assume the only way to be sure is generate some  quotes with fictitious birth dates. 

All insurance is based on actuarial data wether that's car, life home etc. I can't say if you are retired or over a certain age you are more or less likely to have a prang however we all know as we get older we are not as sharp as we once were and perhaps we are more likely to be in an accident. This seems to be based on the fact the OP has retired so more likely to be using the van more which means there is more chance of being involved in an accident.  Unfortunately unlike motorhomes it's impossible to measure the actual use (mileage) so I guess insurer's load the premium to cover costs. Not saying it's right but for them if they insure you they have to weigh the risk versus cost.

OP was talking about car insurance!

All insurance is based on actuarial data wether that's car, life home etc. I can't say if you are retired or over a certain age you are more or less likely to have a prang however we all know as we get older we are not as sharp as we once were and perhaps we are more likely to be in an accident. This seems to be based on the fact the OP has retired so more likely to be using the van more which means there is more chance of being involved in an accident.  Unfortunately unlike motorhomes it's impossible to measure the actual use (mileage) so I guess insurer's load the premium to cover costs. Not saying it's right but for them if they insure you they have to weigh the risk versus cost.

OP was talking about car insurance!

My car insurance was limited to 6,000 miles a year on tow car. When I increased it to 9,000 miles the cost was nearly £25 cheaper .................. go figure??