Is car insurance much cheaper if you have a old car?
Kyle C asked:
I want to buy a 1968 dodge charger and I heard that if it’s like 25 years or older car insurance is real cheap is this true
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no car insurance get cheaper as you get old not as car get old
Yes, the age of a car does have an impact on the cost to have it insured–generally the newer the car, the more expensive it is to insure.
Do you plan on carrying collision insurance on it? For a car that old, unless it has collectible value, I would only carry liability, medical, and any other insurance to pay for any car I might hit, but not pay for collision. It it is a collectible, you’ll need to get an appraisal and insure it for that amount.
It should be cheaper than driving a new car but you also have to factor in driving record, years of experience, and whether or not you’ve made an accident claim in the 6 years or so.
If you are on limited mileage on a classic insurance and you get a collision only type cover, it’ll be as cheap as you can get.
Also, It pays to shop around it isn’t uncommon to get quoted almost $500 by some others for the same policy.
Here’s some I often use: