Pensioner car insurance

It’s nice to know that after working and living the hard yards you get a little more respect for reaching a handsome milestone in life. Once upon a time only the over 50s could understand. Not anymore. Now we have insurance companies around Australia who are taking a particular interest in 50s plus, because after all, you deserve a little more. Or a lot.

Pensioners VS 50+

Okay. Mozo gets that just because you’re over 50, it doesn't mean you’re necessarily a pensioner. It’s just an old-school term that some insurance companies are stuck on and have yet to update their terminology. What they really mean is that you’re over 50, you know how to drive, you’re likely to have many year’s experience in driving and know the road rules like the back of your hand - know you’re about to get rewarded for reaching this point in your life. Well that’s thoughtful of them, isn’t it?

Some of the terms that may mean the same thing:

  • pensioner
  • over 50s
  • 50+
  • senior
  • older Australians
  • mature Australians.

What does the basic ‘pensioner’ car insurance cover?

It is kind to treat the over 50s with a heightened sense of luxury. Well sort of. Think of it as the age of respect, or the golden treatment in car insurance. What may be an added feature in regular car insurance for everyone else, will be standard features for the over 50s. Hooray for that!

At least you’ll be ready for the unexpected. Because let’s face it, we can’t predict any road accidents, can we? Some of the things you can benefit by purchasing a pensioner’s car insurance policy without paying more may include:

  • Flexibility in payments. Choose between fortnightly, monthly or annual payments. These days more and more companies are accepting PayPal payments as well as direct deposit and credit cards.
  • Overnight accommodation. If your vehicle breaks down while you’re at least 100 km away from home, they’ll cover you for up to $500. If it only takes one day to repair the damage, you could be living it up! Even if it is just for one night.
  • Car replacement. Depending on how long you’ve held your policy for or how many kilometers you’ve clocked, your insurer may replace it with a brand new one if it’s written off. You may even get to choose to take the cash. Who knows - you may be over driving altogether by that stage. Bring on the chauffer!
  • Lost or stolen. If any of your personal items are lost or stolen while in the car, then you may be eligible for replacement or cash of up to $500. But check the fine print on this one, because if you’re forgetful like some of us at Mozo, you may accidentally leave the car unlocked. If you did, and someone helped themselves to your brand new smart tablet, you may not qualify for a payout.

Please note: What is included in your basic pensioner car insurance cover will vary between insurers, so make sure you find out exactly what is included in yours.

What’s not included in your basic cover

Generally speaking, there’ll be a whole bunch of optional extras that are not covered in your basic 50+ car insurance, but double check to make sure! The typical features that you may need to pay more for could include:

  • hail damage
  • flooding
  • windscreen
  • car hire
  • roadside assist.

Again, check with the insurer you choose to see if these are included or not. If they are optional extras, then by paying a few dollars more each month could save you a whole lot of hassle in the future.

How to save on your over 50s car insurance

Whether you’re still working full or part time, living off your super or receiving the pension, the cost of living in Australia is high, no matter what. Mozo understands that every dollar counts which is why we like to get down to the nitty gritty and help everyone save money where they can. And you can too.

Here are four simple ways to make a difference to how much your premium costs, saving you money along the way:

  • Restricting age of drivers - Isn’t lovely watching your grand kids become the strong independent, intelligent beings they have today? But it doesn’t mean you have to let them drive your car. That goes for your child with a pretty rotten driving record. Just because they’re relatives doesn’t mean they have right of way with your car, or your car insurance for that matter! Restricting the age of drivers or drivers with a clean driving record will lower your premium a great deal.
  • Garage - You know your son's prized collection of autographed basket balls and boxed and pristine basketball boots that are worth a mint and taking up all the room in your garage along with your daughter’s pattern making archives from 30 years ago when she studied fashion design? Well it’s taking up your valuable garage space where you could actually house you car and save save save on your premium. Just neatly bundle up their goods and place them on their own doorstep. They’ll get the drift.
  • Multi with partner - It’s nice being independant. You may have more spare time on your hands too. So going fishing with the boys sounds like a fantastic spontaneous thing to do. Especially while your partner is off playing tennis with their friends for the day. If there’s more than one vehicle listed at your address, it may be worth your while to purchase a multicar policy under one name to save on your overall premium. For more information about this, read up on [Mozo’s Multi Car insurance policy guide today.]
  • Purchase online - Technology and freedom go hand in hand. Not surprising that shopping online has become a choice for many. Especially if you want to avoid the queues like many of us at Mozo! Why not purchase your car insurance online too? More and more insurance companies are encouraging existing and new customers to purchase their policies online by adding a massive discount as incentive. You could save 20-30% on your monthly bill!

To compare car insurance policies for over 50s, use Mozo’s car insurance comparison tool.