tends to maintain its cost over time, as it’s based on damages you might cause, not damages to your vehicle.
Depending on the type of older vehicle you have, parts can sometimes become difficult to find—especially if you’re driving an import or a limited-production vehicle.
To help you understand how age affects your car’s insurance premiums, we’ve gathered average rates for full coverage over the years on some of the most popular and longest-running models below:
Our calculations are based on an average of two datasets:
Real quotes from policies sold by Jerry.
Public data from news, automotive, and financial advice websites, including Forbes, Car and Driver, USA Today, and Experian.
The bottom line: While older cars are generally cheaper to insure than new models, factors like parts availability, depreciation, your driving record, and even your address can lead to higher-than-expected rates.
—especially if your car meets the 10 percent rule:
The 10 percent rule
If your annual full-coverage premium costs more than 10 percent of your vehicle’s replacement value, it might be time to consider dropping your comprehensive and collision coverage.
, for example, tend to depreciate more slowly than just about any other standard vehicle on the road.1 This is why it makes sense for Wrangler owners to invest in full coverage for longer than owners of, say, a
—one of the fastest-depreciating vehicles you can own.2
If you’re financing an older vehicle, your lender will require you to carry full coverage for as long as you have a balance on your loan.
Do you need additional coverage on an older car?
Probably—just because your vehicle is older, that doesn’t mean it’s cheap or that you’ll have all the coverage you need to pay for your own post-accident expenses. Consider adding the following to your full coverage policy:
Increased liability limits: State minimum insurance requirements rarely offer enough coverage to protect you from a lawsuit. Insurance experts recommend at least:
: Older vehicles can be prone to breaking down. Make sure you have the help you need when you need it, like getting a tow or a jumpstart if you’re on the side of the road.
: This optional coverage pays for wear and tear items not covered by insurance or vehicle warranty. Unless you’ve opted for a service plan from your manufacturer or dealership, you may benefit from adding this to your full coverage policy.
app to build a profile for you and your used vehicle.
Step 2: Choose your coverage levels
Jerry will automatically include quotes with your state’s minimum insurance requirements but you can use the app to change your liability limits, adjust full coverage deductibles, and even select additional coverage options like towing and labor or medical payments coverage.
Step 3: Activate your policy
Once you’ve found the rate you like best, you can activate your policy and select your start date right in the app. Many providers even offer same-day auto insurance coverage.
Classic cars are often older, but that doesn’t mean you want the same insurance for a fully-restored ‘57 Chevy and an old beater truck. If your older car is also a valuable antique or collector car, you need specialized coverage that offers a combination of special features, like agreed value coverage, and standard insurance products tailored to meet the needs of drivers with one-of-a-kind vehicles—you need a
You’re already likely to see lower-than-average rates on insurance for older cars, but if you’re looking to rack up even more savings, try this:
Raise your deductible: If dropping full coverage doesn’t make sense, raising your deductible might. The higher your deductible, the lower your premium.
Lower your coverage limits: How much insurance you should buy should be equal to the amount you can afford, so if you don’t feel like you can swing your premiums, see if lowering your coverage limits can help. Just make sure you maintain a policy that meets or exceeds
"We bought an older (2007) used car over the weekend and I spent a day and a half calling around and filling out other websites looking for good affordable coverage for it before I found out about the Jerry App! After filling out the information for them it gave me many quotes and I had forgotten to put roadside assistance on it so I called and spoke with a wonderful representative and in just a couple minutes we had a great rate that was actually about $30 less than any of the other quotes I received from the other websites and calls. We are absolutely blessed to have used this app for our insurance needs!!!" - Lisa L.
FAQs
What is the best car insurance for older cars?
Generally speaking, if you have a vehicle that’s more than 10 years old, it makes financial sense to consider carrying only liability insurance. That said, what insurance is best for you depends on more than just your car’s age, so be sure to speak with a licensed insurance agent before making any big decisions.
Are older cars cheaper to insure?
Generally, yes, but there are exceptions. If you drive a 15-year-old car, but you have a
or other major moving violations on your record, you could be looking at higher rates than drivers with a clean record would pay on a newer car.
Is it worth getting insurance on an old car?
It is definitely worth getting insurance on an old car, since it’s illegal to drive any age vehicle without insurance.
How much does car insurance cost for older cars?
How much you’ll pay for insurance on your older vehicle depends on both you and the car as well as the amount and types of coverage you choose to purchase. To find out your insurance rates on an older, use the Jerry app to compare quotes and find the most affordable policy for your profile.
What are the benefits of getting insurance on an old car?
One of the biggest benefits of getting insurance on an old car is that you’ll be able to drive it legally. Beyond that, you’ll also have peace of mind from knowing you have protection from lawsuits if you cause an accident.
Is it worth having comprehensive and collision coverage for an older car?
It might still be worth carrying comprehensive and collision coverage for an older car—especially if you’re not financially equipped to repair or replace your vehicle in the event of a total loss.
How do I determine the market value of my older car for insurance purposes?
You can determine the market value of older vehicles using tools like Kelley Blue Book or Edmunds. Your car insurance company may use figures like these as a starting point to determine the actual cash value of your car for insurance claims.
Are there specific insurance policies designed for classic or vintage cars?
Yes, many standard providers offer specialty auto insurance policies for collectible, classic, vintage, and antique cars, but you may be better served by a specialty provider, like Hagerty or American Collectors. Indeed, you’ll often find these are the agencies underwriting classic car insurance coverage for providers that normally deal in regular car insurance.
Do I need to carry the same amount of coverage on an older car as I do on a new one?
Not necessarily, but you may still need full coverage, even on an older vehicle. Even if full coverage isn’t warranted for your old car, you should maintain higher limits on your liability coverage to ensure you’re fully protected in case you cause an accident.