Why Premiums Drop With Age
The average comprehensive premium falls to around $899/year at age 60, well below the $1,293 average at 30 and far below the $2,387 average at 20. Insurers price this way because claims data consistently shows older, experienced drivers have a lower accident rate than younger drivers.
Insurers That Specialise in This Segment
Several Australian insurers build their entire offering around over-50 and senior drivers, including APIA and Australian Seniors — both often price competitively for this group specifically because their whole risk pool skews toward lower-claim drivers, which can translate into better value than a general insurer.
What to Look For
- No age-based excess — unlike young-driver policies, seniors shouldn't face an extra excess simply for their age; confirm this isn't quietly added
- Roadside assistance inclusion — often bundled at low or no extra cost with senior-focused insurers, useful for longer or less frequent trips
- Flexible low-km options — if you're driving less than you used to, a low-kilometre discount can meaningfully reduce your premium
- No forced non-renewal for age alone — check the PDS; reputable insurers don't cancel cover purely based on reaching a certain age, only on genuine risk factors
Comparing Senior-Specific vs. General Insurers
A senior-specific insurer isn't automatically cheaper than a mainstream provider — AAMI, for instance, consistently ranks as one of the most competitive insurers across all age groups in Canstar's state-by-state comparisons. It's worth comparing both senior-focused and general insurers rather than assuming a specialist will always win on price.
This page is for educational purposes and isn't personalised financial advice. Premiums, terms and eligibility vary by insurer, state and individual circumstances — always check the Product Disclosure Statement (PDS) before buying.