Insurers are overcharging pensioners by hundreds of pounds on car insurance and travel insurance, according to a recent report.
The findings suggested that elderly drivers and holidaymakers are paying an extra 300 for the more common types of cover simply because of their age.
Consumer group Which? highlighted one annual car policy in the study which cost 702 for a 75-year-old, but the same Saga cover increased by 74 per cent to 1,224 for an 85 year old. The difference is also noticeable for annual worldwide travel policies, with a policy provided by Rias costing 383 for a 74-year-old, but rising to 707 for someone just a year older.
Peter Vicary-Smith, chief executive of Which? said: “Many over-65s are getting a raw deal when it comes to arranging insurance simply because of their age. Restrictions imposed by insurers leave many people struggling to pay increased premiums just when they may need cover the most.”
Charities said the difference in cost was “absolutely outrageous” and “unacceptable”.
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