Car insurance seniors: why more expensive?

It is common knowledge that car insurance for young people under 24 is more difficult to obtain than for someone older. The premium is also usually a lot higher. Young people under 24 are seen as higher risk. Figures show that these inexperienced drivers are more likely to cause damage. The same is true for older drivers. Do seniors also pay more for car insurance because of this?

Car insurance for seniors

The three standard forms of insurance in auto insurance are:

• WA
• WA Limited Casco
• All-risk

When buying a car, you should immediately purchase at least third-party insurance. Damages caused to others are compensated with this coverage. For cars of 10 years or older, only the compulsory third-party insurance is often chosen. This insurance does not cover damage to your own car.

A good alternative with broader coverage is the third-party limited collision insurance. This coverage compensates not only damages to others. Damages caused by a collision with stray animals, hail and storm, lightning, fire and explosion, window breakage, theft and attempted theft are also covered by the limited hull insurance. Owners of cars between 6 and 10 years old often choose this coverage.

Owners of new cars up to about 6 years old often choose the most comprehensive coverage, which is all-risk insurance. With this coverage, damage to your own car due to collisions is also compensated by your own insurer. In addition, vandalism damage is also insured with all-risk coverage.