Survey Unveils Financial Burden: Over Two-Thirds of Drivers Aged 65 and Above Experience Surge in Motoring Expenses Over Past Year

Survey Unveils Financial Burden: Over Two-Thirds of Drivers Aged 65 and Above Experience Surge in Motoring Expenses Over Past Year

A recent survey conducted by comparison website Confused.com has shed light on the financial strain experienced by elderly drivers, particularly those aged 65 and over.

The study reveals that a staggering 65% of drivers in this age group have witnessed a significant surge in motoring expenses over the past year.

Factors Contributing to Financial Strain

The survey highlights several factors contributing to the financial challenges faced by elderly drivers.

These include steep increases in fuel prices, rising car repair costs, and escalating road tax and MOT fees.

Moreover, cash-strapped councils are imposing congestion charges and penalties for vehicles that fail to meet stringent emission standards, further adding to the burden.

Insurance Premiums Pose Biggest Challenge

Among the various expenses, insurance premiums emerge as the most significant financial hurdle for elderly drivers.

While average car insurance premiums have been on the rise for all drivers, those aged over 70 are particularly hard-hit.

Many in this age group are facing renewal premiums reaching four figures, with some experiencing a doubling or even tripling in costs compared to the previous year.

Elderly Drivers Feel Victimized

The survey findings reflect a growing sense of frustration and victimization among elderly drivers.

Many feel unfairly targeted and discriminated against by insurers, who often cite age-related statistics to justify exorbitant premiums.

Despite having impeccable driving records spanning several years, elderly drivers find themselves facing astronomical insurance costs, leading some to contemplate giving up driving altogether.

Calls for Fair Treatment and Support

Amidst mounting concerns, calls for fair treatment and support for elderly drivers are growing louder.

Advocates argue that insurers should not use age as the sole determinant for assessing risk, especially considering the declining propensity for claims and improved road safety among older drivers.

Additionally, there is a pressing need for insurers to offer tailored solutions and support mechanisms to help elderly drivers navigate the financial challenges and remain mobile.

TDPel Media

This article was published on TDPel Media. Thanks for reading!

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