How old can a car be to get full coverage?
Asked by: Beth Torphy | Last update: December 1, 2025Score: 4.1/5 (58 votes)
Is it worth it to have full coverage on a 10 year old car?
Age and value of your car
Full coverage is often worthwhile for newer or higher-value cars, as they are more expensive to replace. If you drive a 10-year-old clunker, you may be able to skip full coverage, as replacing the car may be less expensive than purchasing comprehensive or collision coverage.
Can you get full coverage on an older vehicle?
Your rates for comprehensive coverage or collision coverage on an older vehicle may be lower than what you'd pay for those same coverages on a newer car that's worth more. That's because you'd have less coverage (lower "coverage limits") on an older car.
What is the oldest age to get car insurance?
Although there is not an official maximum age at which you cannot get insured, insurance providers will set their own age limits for which they are willing to offer car insurance.
Will insurance cover a 20 year old car?
Yes. Full coverage is available for older cars. However, if your older car has a low market value, you won't get much from the insurance company if it's totaled or stolen. This is the main reason to drop full coverage for an older car with a low resale value.
Your Vehicle Is Paid Off | Should You Remove "Full Coverage"?
Is it cheaper to insure an older car?
In general, auto insurance for older cars may be cheaper than insuring newer vehicles of the same make and model if the used car is cheaper to repair or replace. A car depreciates in value over time, which lowers the maximum amount an insurance company would have to pay in the event of an accident.
At what point do you drop full coverage on my car?
Your vehicle holds a low value: As with collision, consider dropping comprehensive coverage if your vehicle's market value is lower than a few thousand dollars. Figure in your deductible as well and the potential insurance payout may not be worth the price of the coverage.
What is the most expensive age to get car insurance?
Key takeaways. 18-year-old drivers on their own policy pay the highest car insurance premiums out of the age groups Bankrate analyzed. The most significant difference in premiums by gender occurs at age 18. On average, 18-year-old males cost 9 percent less to insure than their female counterparts.
Who has the cheapest car insurance for senior citizens?
Nationwide — the most affordable company for seniors
At $77 a month, Nationwide is the cheapest car insurance company for drivers in their 60s and can cover all of your bases when it comes to coverage. The company offers some coverage add-ons that can provide more protection beyond a basic policy: Roadside assistance.
What is the age cut off for car insurance?
But how long can you stay on your parent's policy? Unlike health insurance, which can have an age limit of 26, you can stay on your parent's car insurance policy indefinitely if you live in the same house. Now, if you move out, you'll probably need your own.
What is the best insurance company for older cars?
- Best for availability: American Collectors.
- Best for restored vehicles: Hagerty.
- Best for regular use: Safeco.
- Best for immediate coverage: Grundy.
- Best for high-value vehicles: Chubb.
At what point is full coverage not worth it?
If Your Car Has Retained Much of Its Value
If the cost of car repairs exceeds the value of your car, insurance companies will consider it totaled. Instead of paying for repairs, you'll just receive a check. If your car is only worth a few thousand dollars, a full coverage premium might not be worth it.
Why is my insurance so high for an old car?
Although they may have a lower value, older cars may also have expensive parts that could make repairs expensive. The older a car gets, the harder it may be to source these parts for repair, which can also drive up the cost of car insurance for older cars.
Should you carry collision on a 10 year old car?
Collision insurance only pays up to the current market value of your car, minus your collision deductible. Since older cars typically have a low market value, collision coverage won't pay out much, if anything, in a total loss. Be sure to research your car's worth before deciding on whether to drop the coverage.
At what age does car insurance stop being expensive?
States Where Age Does Not Affect Rates
In the following states, insurance companies cannot take age into account when calculating insurance premiums: California.
Is it better to have collision or comprehensive?
If your car is damaged in a road collision with another car or object and you're at fault, only your collision coverage can help pay to repair it. Only comprehensive coverage covers losses caused by contact with animals, civil disturbances, fires, natural disasters, theft, and vandalism.
What is the best car insurance for senior citizens?
- State Farm - Most affordable.
- Allstate - Best bundling.
- USAA - Best for military personnel and veterans.
- AARP from The Hartford - Best membership benefits.
- Travelers - Best customizable packages.
Is car insurance cheaper with AARP?
This includes new car replacement,§§ a 24/7 car insurance claims hotline and additional coverages to help protect you and your car while you're on the road. Affordability: AARP members can qualify to save on car insurance up to 10% just for being an AARP member.
Who is known for cheapest car insurance?
Geico, Nationwide and Travelers are among the least expensive for car insurance.
Does credit score affect car insurance?
How credit-based insurance scores work. Most U.S. insurance companies use credit-based insurance scores along with your driving history, claims history and many other factors to establish eligibility for payment plans and to help determine insurance rates. Again, except in California, Hawaii, and Massachusetts.
Which gender pays more for car insurance?
On average, young men pay much more for car insurance than young women. This is because car insurance providers find men to be riskier drivers than women, especially when they are younger. When they are older, women start to pay slightly higher rates.
Does car insurance go up when you turn 65?
When you turn 65, you may pay more or less for car insurance, depending on where you live and which insurance company you use. In many cases, as long as you have a good driving record, your insurance premium may end up decreasing when you turn 65.
Is it better to have a $500 deductible or $1000?
Remember that filing small claims may affect how much you have to pay for insurance later. Switching from a $500 deductible to a $1,000 deductible can save as much as 20 percent on the cost of your insurance premium payments.
Is it good to keep full coverage on a paid-off car?
Risk Tolerance: Full coverage can provide peace of mind by protecting your car from various risks, including accidents, theft, and weather damage. If you prefer the extra security, keeping full coverage might be worth it, even after the car is paid off.
What happens if I crash my car with full coverage?
Assuming you're covered, your insurer will send a payment to your lender for the actual cash value of the car, minus any deductible. Make sure you give your lender's contact information and the account number to your agent or insurance company.