Have you hit your 76th birthday and your car insurance company just gave you a premium increase as your birthday present? Well, a premium increase is certainly not a gift, but it is something that you might as well expect when you’re already over the age of 75.

Most car insurers charge higher premiums for drivers over 75.  It is not that they are being discriminatory, but this is simply a measure that they need to take to sustain their company.  Car insurance premiums are based on statistical data and calculated using complex mathematical algorithms. Insurers compute the claims risk that people of different ages represent, and those over age 75 represent a higher statistical risk than most other ages. To offset this risk, the insurer charges drivers over age 75 higher premiums.  The company is not discriminating; they are just trying to minimize their liability with a high-risk age group.

Nevertheless, if you think that your car insurance company’s premium increase is way too much, you can still switch to other companies that may have better offers.  Insurers all calculate risk differently, so you might find lower premiums with another company.  For instance, if a certain company considers your general physical, mental and psychological condition and they find out that you are as healthy as a 50 year old, you just might end up with a much better deal.