What is the best insurance company for older cars?
Asked by: Mittie Collier | Last update: October 15, 2025Score: 4.4/5 (48 votes)
What is the best insurance for old cars?
Among widely available large companies, State Farm has the cheapest full-coverage and liability-only insurance rates for older cars. Full coverage includes liability, uninsured motorist, collision and comprehensive (comp) coverage. A liability-only policy is the same policy without collision and comp.
Can a car be too old to insure?
In general, you will need to meet your state's minimum insurance requirements. Optionally, both collision and comprehensive coverage can offer benefits, even for older cars.
What is the oldest car that can be insured?
For insurance and registration purposes, the age of a classic car, in most cases, is at least 20 years old but not more than 40 years old. If you are going to register it (and insure it) as a classic, it should have been kept to its original design and specifications.
Can you get full coverage on a 20 year old car?
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.
Why You Want Classic Car Insurance
What is the best insurance for a 20-year-old?
Average full coverage car insurance rates for 20-year-olds are 102 percent more than the national average. On average, 25-year-old drivers pay 39 percent less for full coverage than 20-year-olds. Auto-Owners, Travelers and Geico offer some of the cheapest insurance for young adults.
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.
Is insurance expensive for older cars?
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.
Why is my insurance so high for an old car?
For one, if you're in an accident, repair costs for an older car tend to be higher because the parts are more scarce. That's one major reason your insurance company might charge a higher premium anticipating higher repair costs in the event of an accident.
What is the oldest car I can insure?
Many insurance companies refuse to insure a car over a certain age, usually up to 20 years. So, as long as your car is within this bracket we can find an insurer for you.
What age are you kicked off car insurance?
How long can I stay on my parents' car insurance? There is no age limit that prevents you from staying on your parents' car insurance policy as a listed driver, as long as you live at home or if you're a full-time college student. That means you're still covered when you drive your parents' vehicles.
Is it cheaper to insure a new or old car?
New cars normally have a higher market value compared to used cars, which often results in higher insurance costs. Insurers must account for the potential payout in case of a total loss, making it more expensive to insure a higher-valued vehicle.
When should you stop full coverage on a vehicle?
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.
Does Progressive insure older cars?
Get a classic car insurance quote and enjoy the ride
We love classic cars just as much as you do. That's why with the Progressive Classic Car by Hagerty® program, you can take your car out for a spin without any fixed mileage restrictions.
What age is car insurance most expensive?
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.
What is considered an old car for insurance?
If you are a California driver, then being at least 25 years old is one of the major requirements for the car to be considered “historic” by the state.
Who normally has the cheapest car insurance?
Geico, Nationwide and Travelers are among the least expensive for car insurance. Americans are paying a lot for car insurance these days: Average annual rates for a full coverage policy are up to $2,638 per year, while minimum coverage averages $767 per year.
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.
At what age is car insurance cheapest?
Both male and female drivers see the biggest drop in average annual car insurance premiums between the ages of 18 and 19. This is because younger drivers are seen by most auto insurance companies as riskier to insure due to their overall inexperience behind the wheel.
Can you insure a 25 year old car?
A vehicle is usually considered an antique car eligible for a collector car insurance policy if it is 25 or more model years old. But, other types of vehicles may qualify for a collector car insurance policy.
Why does Progressive keep raising my rates?
Car accidents and traffic violations are common explanations for an insurance rate increase, but other reasons why your car insurance rate can go up include changing your address, adding a new vehicle or driver, increases to claims in your ZIP code, and increases to car repair/replacement cost.
Can I insure my son's car if he owns it?
You cannot typically obtain insurance for a vehicle not registered in your name, but there are ways to ensure you're still covered behind the wheel. Whether you're driving a friend or family member's car or have been gifted a vehicle under another person's ownership, it's the legal owner's responsibility to insure it.
How much is state farm car insurance for a 20 year old?
State Farm car insurance for teen drivers costs $151 a month, on average, for liability coverage. Teens pay an average of $344 a month for full-coverage car insurance with State Farm. These make State Farm the cheapest large car insurance company for most teen drivers, for both liability and full coverage.