I originally wrote this article in 2022, but it never made it past draft. I've decided to publish it now even though the amounts are woefully out of date, but I think the same situation may apply today.
Whilst helping a person who was in their 80s with their car insurance renewal, I started to wonder how much of a difference a person's age makes to their car insurance premium. I did a test and took 20 years off the person's age, effectively from 84 to 64. The car was a Mazda CX5 (2015).
Here's what I found.
Woolworths: $2,544.33
Age to 20 years less: $1,339.27
Woolworths drive less pay less: $1,701.69
Age to 20 years less: $895.73
AAMI: $1,108.75
Age to 20 years less: $732.53
RACV: $1747.02
Age to 20 years less: $1,072.83
As you can see the premium for being over 80 is considerable.
Kelvin Eldridge
No comments:
Post a Comment