A new legislative proposal aims to end what campaigners call an unfair financial burden on elderly drivers, who face significantly higher insurance premiums due to their age.
The proposal, submitted to parliament by Volt MP Alexandra Attalidou, calls for insurance costs to be based on driving behaviour rather than age.
If passed, it would amend existing insurance laws to ensure equal treatment for drivers over 70 when purchasing vehicle insurance.
Supporters argue that the current system discriminates against older drivers, many of whom are safe and experienced but are forced to pay excessive premiums. Attalidou said the change would promote equality and prevent financial and social hardship for elderly citizens.
“Insurance companies should calculate premiums based on driving behaviour, not the age of policyholders,” she said.
At present, insurers have the right to set their own pricing policies, assessing risk individually and charging accordingly. However, critics say this has led to widespread discrimination, with older drivers being penalised simply because of their age, regardless of their driving record.
The issue has been debated in recent parliamentary sessions, alongside concerns about the accessibility of banking services for elderly people.
A parliamentary committee recently found that drivers over 70 face significant financial disadvantages, both in insurance costs and banking services such as loans and transaction limits.
The rising cost of car insurance for elderly drivers was also a key topic at the latest session of the Senior Citizens’ Parliament. The discussion highlighted the financial strain caused by age-based pricing policies and called for urgent reform.
Advocacy groups representing elderly citizens have long criticised insurers for what they describe as “age-based discrimination,” arguing that it violates their right to equal treatment. Many have urged authorities to introduce safeguards that prevent insurance companies from imposing higher costs purely based on age.
The proposed law now awaits further debate and a parliamentary vote, with supporters hoping it will bring long-overdue change to an issue affecting thousands of elderly drivers.
