Older drivers will find it easier to obtain insurance under an agreement between the insurance industry and government announced yesterday.
From tomorrow, if an insurer or insurance broker is unable to offer cover to an older motorist or traveller due to any upper age limits they may have, they will be automatically referred to an alternative provider who can help them.
The agreement has been struck by the Association of British Insurers (ABI), the UK government and the British Insurance Brokers’ Association (Biba).
Analysts said the move will give older people who have struggled to find affordable cover better access, although prices are unlikely to fall significantly.
All ABI members will adhere to the agreement as a condition of membership and all Biba brokers will also undertake to comply, while those who are not members of either body can follow the agreement on a voluntary basis.
Under the scheme, older people will automatically be referred to an alternative provider who can meet their needs or to a dedicated service to help them, such as Biba’s “Find-a-broker” helpline and website.
Financial Secretary to the Treasury Mark Hoban said: “We will keep a close eye on this to make sure the insurance industry meets its commitments.”