You should know that insuring an older car requires a little prep time to make sure that it is insured for the proper amount.  Some older cars might be classified as “classic” and perhaps they are not driven as your primary vehicle.  If your 2nd car is a “classic” car, your vehicle will have to qualify as that type of status to be insured properly.  There are tools to determine if your auto qualifies as a “classic” vehicle.  You should always carry the correct amount of auto insurance.  This might vary depending on the type or class of vehicles you own and how much you drive them.


If your vehicle falls into “classic” status, it has to be over a certain age and should be your second car — Find out if your 2nd car qualifies as a “classic” or “collector” auto. Check with your insurance agency to determine your auto’s classification.

How much does it cost to insure your older vehicle?

The type of vehicle you have has an impact on the amount of insurance premium you will be charged.  Of course, older cars are generally cheaper to insure than their newer counterparts. But the car’s make, model and options will have an impact on the insurance premiums charged.  For example, if you have an older car that requires parts from another country or parts that are not easily accessible for repair purposes, your premium may be higher.  If you add anti-theft devices to your older vehicle, this may reduce your premium. 

Who owns the vehicle and where it is garaged?

What you pay depends on many other factors such as your driving history and your geographic location.

Review your Liability coverage

This coverage will help pay for vehicle damage and injury-related expenses of others after an at-fault accident.  Consider buying as much liability coverage as you can afford — whether you drive a 2004 or a 2014 vehicle. The age of your auto has little to do with how much damage it can cause.

Comprehensive and collision coverage

Older cars depreciate and as much as you want to protect your vehicle, you might be over-insuring a car that has little value.  Research the value of your vehicle by using the Kelley Blue Book or other research tool.  Note that if you still have a loan or lease on your older car, your finance institution may require certain coverage during the term of the loan or lease, so check with them. 

Medical payments coverage*

Safety features have been added or improved on over the years.  If your older car has few safety features or if it has poor crash test ratings, the risk for injury in an accident may be greater so you should consider adding coverage for medical payments.

*Check with your insurance agency about your state’s laws as some coverage, such as No-Fault insurance, may be required and provides medical cost coverage among other coverage benefits.

Should you purchase Emergency Road Service coverage?

If your auto is older and prone to breakdowns, you may want to consider adding roadside assistance coverage.

Rental car coverage

Consider adding this coverage, especially if you are insuring an older vehicle as parts availability may extend the normal repair time. 

By Craig Bruno