Older motorists could face lower insurance premiums thanks to a new industry initiative.
Drivers will be able to provide their Driving Licence Number (DLN) when applying for a policy under the MyLicence scheme – an initiative that will give insurers the correct details about a motorists driving history.
And according to a poll from Saga Car Insurance, 23% of drivers over 50 couldn't remember accurately the last time they received a driving conviction – meaning they could be providing the wrong details to their insurers and, as a result, potentially paying more than they need.
Some 10% of over 50s were also uncertain about the time of year of their last motoring accident.
Roger Ramsden, chief executive of Saga services, said: "Many people, of all ages, find recalling exact dates a challenge. But not being precise when it comes to motor insurance can have huge financial consequences – if you get the details of an accident wrong; or, if you forget about one scrape but go on to make a claim.
"This new initiative will ensure that people are protected and don't pay more than they ought."
Members of the MyLicence scheme will be asked to provide their 16-character code on their driving licence when searching for a policy. Information on the motorist's driving history is then obtained form the DVLA, providing an accurate record for insurers to work from.
Ian Crowder, spokesperson with the AA, said the move would potentially help - at the very least - keep insurance premiums in check and that a survey from the Association of British Insurers found that 23% of people had applied for cover using incorrect data.
"It will streamline the insurance application process both for customers and insurers, reduce the risk of false information being provided – whether accidentally or deliberately, help to cut out deliberate application fraud and significantly reduce the risk of a claim being denied," he said.
"That 23% aren't necessarily all wilful attempts to get a cheaper premium by falsifying information such as driving experience or motoring convictions, some could be genuine errors.
"As Saga point out several people struggle to remember when a conviction happened for instance or when they passed their driving test and may have neglected to inform DVLA or an address change.
"Some in the sample were paying higher premiums than they should as they hadn't realised that a motoring conviction had expired."