for older cars is typically cheaper than car insurance for newer cars, but your premium will depend on a number of factors, including your driving record and demographics as well as your vehicle’s model year and value.

Building a car insurance policy for an older car

When putting together an insurance policy for your older car, you’ll need to choose between full-coverage car insurance and liability-only car insurance. It’s also a good idea to consider any additional coverage that might be useful.

Full-coverage car insurance vs liability car insurance for an older car

Whether you should invest in

full-coverage car insurance

or a

liability-only policy

for your older car will depend on how much protection you want for yourself and your vehicle.

Full coverage includes liability car insurance,

collision insurance

comprehensive insurance,

and other coverages you wish to add. It offers you and your vehicle plenty of financial protection in the case of an accident or other claimable incident. Also, if you’re financing an older vehicle, your lender will typically require you to carry full coverage for as long as you have a balance on your loan.

Liability insurance is legally required in most states regardless of your car’s age. You’ll have to meet at least the minimum liability limits required in your state, but you can increase your limits for added protection if you like. Liability insurance covers

property damage

and

bodily injury

for other parties in an at-fault accident. It doesn’t cover your expenses.

If you decide to go with liability-only coverage instead of full coverage, make sure that you can afford to pay out of pocket to repair or replace your car if it is damaged in an accident or unexpected event. If you don’t have the funds to replace your car unexpectedly, it might be a safer bet to stick with full coverage.

To help you out, our experts at

Jerry

have compiled a list of quotes for minimum liability and full coverage policies from some of the top insurance companies:

Insurance company	Minimum liability	Full coverage
AAA	$105	$215
Allstate	$85	$198
Bristol West	$158	$361
Clearcover	$66	$130
Founders	$51	$174
Gainsco	$98	$222
MAPFRE	$66	$205
National General	$93	$211
Nationwide	$61	$155
Progressive	$79	$178
Safe Auto	$122	$200
State Auto	$58	$162
Travelers	$59	$141

Additional coverage for an older car

To better protect your older car, consider purchasing additional coverages as part of your policy, like:

Higher liability limits: State minimum insurance requirements often fall short of providing adequate protection in the event of a serious at-fault accident. Experts suggest having $100,000 per person and $300,000 per accident of

bodily injury liability

coverage, $100,000 of

property damage liability

coverage, and

uninsured motorist

coverage matching the policy’s liability limits.

Roadside assistance

: Older vehicles are more prone to breakdowns, so you might want to invest in roadside assistance. It provides helpful services, such as tire changes, towing, and battery jumpstarts.

Rental reimbursement

: This coverage will help cover the cost of a rental car if your car is in the shop for a covered claim.

You can increase your liability limits whether you have a liability-only or a full coverage policy, but you usually have to purchase full coverage to access optional coverages like roadside assistance or rental reimbursement.

Learn more:

How much car insurance do you need?

How much does it cost to insure an older vehicle?

Typically, older cars are cheaper to insure than newer cars. For example, full-coverage insurance for 2010 model-year cars is around $180 per month. That's 14% lower than full coverage for 2015 models and 26% lower than 2020 models.

To illustrate how age impacts insurance premiums, below are average rates for full coverage on some popular and long-standing models over the years:

Model	5 years old	10 years old	15 years old	20 years old	25 years old
Ford F-150	$3,219	$3,018	$2,653	$2,145	$2,161
Honda CR-V	$2,883	$2,644	$2,686	$3,164	$3,091
Toyota RAV4	$3,185	$3,143	$3,034	$2,414	$2,719
Toyota Prius	$3,463	$3,098	$2,836	$3,192	$2,823
Jeep Wrangler	$3,314	$2,729	$2,423	$2,399	$2,330
Honda Civic	$4,173	$3,476	$3,209	$2,959	$3,092

But it can be hard to estimate exactly what you’ll pay to insure your older car, as your car insurance rates depend on several factors, including your driving history, location, and the age and value of your vehicle. Additionally, some older cars, especially imports or limited-production models, may have parts that are harder to find, which could potentially raise repair costs.

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 impact your rates.

Learn more:

How is car insurance calculated?

Classic car insurance

If your older car meets certain qualifications, you might be eligible for

classic car insurance

Classic car insurance is offered for rare, collectible, or high value vehicles. Usually, cars must be more than 20 years old.

Classic car insurance offers additional features not found in standard auto insurance for older cars, such as agreed value coverage and worldwide coverage. However, there are some restrictions for classic car coverage, including coverage and mileage limits.

The average cost of classic car insurance is between $200 and $600 annually. [1] Some top car insurance companies who sell classic car insurance include

Hagerty

, Grundy, American Collectors, American Modern,

Safeco

, and

State Farm

Ways to save on a car insurance policy for an older car

If you are looking to lower your car insurance premium for your older car, try the following tactics:

Adjust your deductible: Opting for higher comprehensive and collision

deductibles

can reduce your insurance premiums. However, you’ll want to make sure to choose a deductible that’s affordable in the event that you need to file a claim.

Seek out discounts: While vehicle-specific

discounts

may not apply to older cars, you could still qualify for other cost-saving incentives. Check with your insurance company to see if they offer

safe driver discounts

or discounts for

bundling home or renter's insurance

with your auto policy. Some companies might also offer discounts if you install anti-theft devices on your older car.

Comparison shop: The best way to save money on your car insurance policy for your older car is to shop around for

car insurance quotes online

from different insurance companies.

Jerry

offers quotes based on your state's minimum insurance requirements, and you can adjust your coverage levels—including your liability limits, full coverage deductibles, and additional coverage. Many providers even offer same-day auto insurance coverage for added convenience.

Worried you’re paying too much to insure your older car?

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FAQ

What is the best car insurance for older cars?

Generally speaking, if you have a vehicle that’s more than 10 years old, it often makes financial sense to only carry 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 have a

DUI

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.

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. 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.

Meet our experts

Hillary Kobayashi

Hillary Kobayashi is an insurance writer and editor specializing in insurance and finance topics. Hillary’s mission is to use her knowledge and love of education to help car owners better understand how they can save time and money on car ownership. The articles Hillary has published for Jerry span topics from state-specific bill of sale requirements to SR-22 insurance information.

Prior to joining Jerry, Hillary spent over ten years in education at Pacific University and the University of Oregon.

Amy Bobinger

Licensed Insurance Agent — Expert Insurance Editor

Expert insurance writer and editor Amy Bobinger specializes in car repair, car maintenance, and car insurance. Amy is passionate about creating content that helps consumers navigate challenges related to car ownership and achieve financial success in areas relating to cars.

Amy has over 10 years of writing and editing experience. After several years as a freelance writer, Amy spent four years as an editing fellow at WikiHow, where she co-authored over 600 articles on topics including car maintenance and home ownership. Since joining Jerry’s editorial team in 2022, Amy has edited over 2,500 articles on car insurance, state driving laws, and car repair and maintenance.