- Seniors can choose from two car insurance options with Allianz: Comprehensive or Third Party Property Damage.
- You may be able to get cheaper car insurance if you have a good driving history.
- Each state and territory has different requirements for seniors and their licenses.
Key takeaways
What type of cover is right for seniors?
When you turn 60 in Australia, you’re generally considered to be a senior Australian. We don’t have a specific car insurance product for seniors over the age of 60 but one of these options might be just what you’re looking for.
Comprehensive Car Insurance
Comprehensive Car Insurance could be a good option if you want cover for damage to your own car as well as others. It also covers you for:
Choice of repairer
Got a repairer you know and trust? If you don’t want to use one of ours, we let you choose your own repairer at no extra premium1.
Agreed value
With agreed value, you're covered for an amount that we agree to insure your car for, regardless of your vehicle’s depreciation during the policy term.
Many other insurers offer market value as standard. However, this only covers you for what your car is worth ‘in the market’ at the time it’s written off.
Agreed value is different. If your car is written off or stolen and not recovered, you should have more clarity around the amount you’ll receive.
Guarantee on authorised repairs
We guarantee materials and workmanship on repairs we authorise, for as long as you own or lease your car.
Any driver coverage
We'll cover anyone you give permission to drive your car. Driver and usage restrictions apply2. This benefit could be helpful for many seniors – for example, if you have a family member who wants to use your car for a long weekend.
Third Party Property Damage Insurance
This option could be good if you just want cover for damage to someone else's car or property. Maybe you have an older car or you rarely use your vehicle but want some level of cover. Keep in mind though, Third Party Car Insurance doesn’t cover damage to your own car.
- We'll cover anyone you give permission to drive your car. Driver and usage exclusions apply2.
- Provides up to $20 million cover for damage you cause to other people's cars or property.
- We'll pay for reasonable legal costs and expenses from court proceedings due to a liability claim.
Is CTP renewal on your to-do list?
Compulsory Third Party (CTP) insurance is mandatory. It’s different from Third Party Property Damage Insurance. We can help you get CTP cover.
Why should seniors choose Allianz?
We don’t have a specific product for seniors but there’s lots of reasons older Australians should consider Allianz Car Insurance.
- Speak to a real person. Prefer calling to get a quote? Our experienced team are here to chat at 13 1000.
- Choice of excess. Want to lower your premiums or get a more affordable excess? With Comprehensive Car Insurance, we let you choose your excess level, within a given range, to suit you.
- Option to pay monthly. Take out a new policy and have the flexibility to pay your premium either annually or monthly at no extra cost3.
- Get cover for your caravan or trailer. Plan to hit the road during your golden years? Unlike some insurers, we also offer Caravan and Trailer Insurance.
How seniors can save on car insurance
Just like any driver, you can potentially lower your insurance premium as a senior by following these tips.
- Select the right level of cover for you
If your vehicle isn’t worth much, then Third Party Car Insurance may be enough for you. However, if you want cover for your own car or you couldn’t afford to replace it if it was written off, Comprehensive Car Insurance is worth considering. - Increase your excess
The excess is a specified amount you need to pay when you make a claim. By increasing your excess, you can lower your premium. - Reducing the amount you drive
When you get a quote with Allianz, we ask you how many kilometres you generally drive in a year. The cost of car insurance is typically lower the less you drive.
How do seniors’ driver licenses differ per state?
Every state and territory has their own license requirements for seniors.
Australian Capital Territory
When you turn 75, you need to do a medical assessment every year to retain your license in the ACT. You also need to do an eye test when you turn 50, 60, 65, and 70.
New South Wales
You may need to do a medical and driving assessment to keep your licence in NSW after you turn 70. The assessment typically becomes compulsory when you turn 75.
Northern Territory
In NT, you should contact the Motor Vehicle Registry (MVR) if you have a medical condition that may impact your driving ability. You will typically need to complete a medical assessment.
Queensland
If you are 75 or over, you need to carry a medical certificate while driving in Queensland at all times. You can be fined if you don’t.
South Australia
If you are 75 or over, you must complete an annual self-assessment in South Australia. You should receive a notification around the time of your birthday every year.
Tasmania
Tasmania doesn’t require seniors to do any medical assessments but you will need to self-assess your fitness to drive regularly.
Victoria
In Victoria, there’s no medical assessments for seniors. You’re allowed to drive up to any age as long as it’s medically safe for you to drive. You should contact VicRoads if you develop a medical condition that could affect your ability to drive.
Western Australia
When you turn 80 in WA, you need to do an annual medical assessment before you can renew your licence as a senior. You may also need to take a driving test every year once you reach 80.
Frequently asked questions
Everyone’s situation is different, so there’s no single best car insurance policy for seniors. For example, there are some insurers that market towards older drivers. This doesn’t mean it’s the best option though. Make sure you take you into consideration the features and benefits that matter to you and suit your needs.
Yes, age is one of the factors that impacts your car insurance costs. Car insurance tends to be cheaper for older and more experienced drivers compared to younger drivers. However, once you reach a certain age, it can increase due to age-related health concerns.
Car insurance can cost more as you get older based on an increased risk of accidental loss or damage occurring . You can keep costs down by driving less and increasing your excess.
The best insurance for old cars depends on your situation and preference. For example, if your car isn’t worth much, it might not be worth insuring – in which case, you could opt for Third Party Property Damage Insurance.
However, you will need Comprehensive Car Insurance if you want cover for your own vehicle. It can also cover you for towing, transport costs, emergency repairs and more.
Keep in mind that you may need specialist cover for some older cars, such as vintage vehicles.
Comprehensive Car Insurance can cover you if your caravan or trailer (towed by your car) causes damage to someone else’s car or property.
If you want cover for accidental damage to your caravan, you will need Caravan and Trailer Insurance.
Allianz Caravan and Trailer Insurance can cover you for accidental damage to your caravan or trailer. It doesn’t cover motor homes.
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Disclaimer
This article has been prepared by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL234708 ("Allianz"). In some cases, information has been provided to us by third parties and while that information is believed to be accurate and reliable, its accuracy is not guaranteed in any way.
Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Allianz, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.
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*Conditions apply
If you choose your own repairer, we may need a second quote from another repairer chosen by us just to make sure the quote you've received is reasonable. We may then authorise repairs, pay you reasonable repair costs or the car’s agreed value or replace your new car where policy conditions are met.
Driver exclusions apply if the driver is unlicensed, is not following the conditions of their license, refuses a drug or alcohol test, is under the influence of drugs or exceeds the legally allowed alcohol limit. Refer to the Comprehensive Car Insurance or Third Party Property Damage Car Insurance PDS for full driver, usage and other policy exclusions as set out in the "What's not covered" section. An additional excess applies to drivers under 25.
Premiums payable by instalments may be subject to minor adjustments (upwards or downwards) due to rounding. Financial institution transaction fees may apply.
Allianz acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Custodians of the lands on which we live and work across Australia. We pay our respect to First Nations Elders past and present.
Any advice here does not take into account your individual objectives, financial situation or needs. Terms, conditions, limits, and exclusions apply. Before making a decision about this insurance, consider the relevant Product Disclosure Statement (PDS)/Policy Wording and Supplementary PDS (if applicable). Where applicable, the PDS/Policy Wording, Supplementary PDS and Target Market Determination (TMD) for this insurance are available on this website. We do not provide any form of advice if you call us to enquire about or purchase a product.
Allianz Australia Insurance Limited ABN 15 000 122 850 AFS Licence No. 234708 is the insurer of any general insurance products offered, and Allianz Australia Life Insurance Limited ABN 27 076 033 782 AFS Licence No. 296559 is the insurer of any life insurance products offered. Each entity is responsible for any statements and representations made about its products, on this website.