Cheap Auto Insurance for Older Vehicles in 2024 (Save With These 8 Companies!)
Auto-Owners, Erie, and Geico all have cheap auto insurance for older vehicles. Auto-Owners has the cheapest car insurance for older cars, with an average rate of $27/mo for minimum coverage. Older vehicles are often cheaper to insure at these companies due to lower retail and repair costs.
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Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences i...
Commercial Lines Coverage Specialist
UPDATED: Oct 25, 2024
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Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Oct 25, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident auto insurance decisions. Comparison shopping should be easy. We are not affiliated with any one auto insurance provider and cannot guarantee quotes from any single provider. Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
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19,116 reviewsCheap auto insurance for older vehicles can be found at Auto-Owners, Erie, and Geico.
Other cheap auto insurance companies for old car auto insurance are listed below.
Our Top 8 Company Picks: Cheap Auto Insurance for Older Vehicles
| Company | Rank | Monthly Rates | Safety Features | Best For | Jump to Pros/Cons |
|---|---|---|---|---|---|
 | #1 | $27 | 10% | Custom Coverage | Auto-Owners |
 | #2 | $31 | 5% | Great Service | Erie |
 | #3 | $34 | 25% | Online Experience | Geico |
 | #4 | $40 | 10% | Agent Network | State Farm |
 | #5 | $48 | 5% | Customer Satisfaction | Country Financial |
 | #6 | $52 | 5% | Nationwide Coverage | Nationwide |
 | #7 | $57 | 10% | Coverage Options | Travelers |
 | #8 | $68 | 5% | Discount Variety | American Family |
Save on car insurance quotes for older cars with our free comparison search. Enter your ZIP code above to get started now!
- Auto-Owners has the cheapest auto insurance for older vehicles
- Erie and Geico also have affordable auto insurance for older cars
- Older cars are often cheaper to insure due to decreased market value
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#1 – Auto-Owners: Top Pick Overall
Pros
- Customer Coverage: Auto-Owners offers several coverage options, which we discuss in more detail in our Auto-Owners review.
- Local Agents: Auto-Owners’ local agents are great for those who want personalized assistance.
- Multiple Discounts: Auto-Owners offers plenty of discounts and accident forgiveness.
Cons
- No Online Quotes: You need to find a local agent to get a quote.
- Availability: Auto-Owners isn’t yet sold in every U.S. state.
#2 – Erie: Best for Great Service
Pros
- Great Service: Erie has great customer service reviews. Find out more in our review of Erie.
- Add-On Coverages: Erie offers rideshare insurance, roadside assistance, and much more.
- Rate Lock: Erie’s rate lock program helps keep rates low.
Cons
- UBI Program Not as Robust: Erie’s YourTurn offers gift card rewards for drivers who do well but doesn’t offer auto insurance discounts.
- Availability: Erie insurance is not yet sold in every U.S. state.
#3 – Geico: Best for Online Experience
Pros
- Online Experience: Geico’s online experience is highly rated due to its app’s ease of use.
- UBI Discount: Drivers can save with Geico’s DriveEasy program. Learn more about the program in our Geico DriveEasy review.
- Accident Forgiveness: Geico forgives customers of their first at-fault accident.
Cons
- Fewer Local Agents: Geico doesn’t have as many local agents as other companies.
- Less Competitive DUI Rates: Drivers with DUIs often won’t find the cheapest rate at Geico. Learn about Geico’s rates in our Geico review.
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#4 – State Farm: Best for Agent Network
Pros
- Agent Network: State Farm’s agent network is one of the best. Learn more in our review of State Farm.
- Discount Variety: State Farm offers good student discounts, bundling discounts, and more.
- Coverage: State Farm’s coverage options range from the basics to specialty add-ons.
Cons
- Agent Purchases: State Farm policies must be purchased directly from an agent.
- UBI Availability: State Farm’s UBI discount program is not available in all states.
#5 – Country Financial: Best for Customer Satisfaction
Pros
- Customer Satisfaction: Country Financial has decent customer satisfaction reviews, which you can learn about in our review of Country Financial.
- Coverage: Country Financial has roadside assistance, rental insurance, and more.
- Discount Variety: Country Financial has legacy discounts, bundling discounts, and more.
Cons
- Availability: Country Financial is not available nationwide.
- Quote Process: Country Financial doesn’t offer online quotes.
#6 – Nationwide: Best for Nationwide Coverage
Pros
- Nationwide Coverage: Nationwide auto insurance is available in all but three states.
- Vanishing Deductible: Nationwide decreases deductibles for claims-free drivers.
- Pay-per-mile Insurance: Nationwide SmartMiles is a cheap option for drivers who rarely drive (Read More: Nationwide SmartMiles review).
Cons
- Less Competitive DUI Rates: Nationwide’s rates for DUI drivers are generally higher than the average.
- Customer Ratings: Nationwide has lower-than-average ratings for claims satisfaction. Learn more in our Nationwide review.
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#7 – Travelers: Best for Coverage Options
Pros
- Coverage Options: Travelers offers gap insurance, roadside assistance, and more. Our review of Travelers explains its coverages in further detail.
- Bundling Discount: Travelers has a bundling discount if you purchase more than one type of insurance.
- Accident Forgiveness: Travelers will forgive some drivers’ first at-fault accidents.
Cons
- Availability: Travelers auto insurance isn’t sold in a few states.
- UBI Availability: Travelers’ UBI discount isn’t available in CA or NY.
#8 – American Family: Best for Discount Variety
Pros
- Discount Variety: American Family has good student discounts, bundling discounts, and more.
- Coverage: American Family has plenty of add-on coverages, which we cover in our American Family review.
- Accident Forgiveness: Safe drivers can save with the American Family’s accident forgiveness perk.
Cons
- Rates Not as Competitive for Some Drivers: High-risk drivers may not find the cheaepst rates at American Family.
- Availability: American Family isn’t available nationwide.
Older Vehicle Auto Insurance Coverage
Before buying coverage for your car, bear in mind that your auto insurance rates will vary depending on what type of auto insurance coverage you choose. Below, you can see average auto insurance rates for minimum and full coverage at the cheapest companies for older vehicle insurance.
Cheap Auto Insurance for Older Vehicles by Coverage
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
| Auto-Owners | $27 | $83 |
| Erie | $31 | $91 |
| Geico | $34 | $105 |
| State Farm | $40 | $114 |
| Country Financial | $48 | $110 |
| Nationwide | $52 | $125 |
| Travelers | $57 | $130 |
| American Family | $68 | $134 |
If you take the time to do proper research and compare auto insurance quotes from multiple companies, you might find a cheap policy that offers great coverage for your old car.
Most insurers provide bonuses and discounts to those who meet certain criteria. When you compare car insurance quotes, try to find out more about the discounts that are being offered.
Learn about the types of auto insurance available on the market, make a list of insurance providers, and then go shopping online.
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Cheap Auto Insurance For Older Vehicles
More companies are selling car insurance online. Processing online applications involves minimum costs, which is why most insurance carriers offer lower rates to those who buy coverage through their websites. You can save on your old vehicle insurance by shopping at the cheapest companies like Auto-Owners or Geico.
Comparison shopping saves you time from having to go to an agent. Statistics show that drivers who buy car insurance online pay up to 30% less on coverage than those who go shopping the old fashioned way.
One of the main pros of shopping for car insurance online is that you don’t need a middleman, as insurance websites feature online comparison tools, rate calculators, and other applications.
We often get the question, “Where can I compare online auto insurance companies?” Our comparison tool provides advanced tools that allow customers to customize their policies with a few mouse clicks. Our comparison search will help you save on auto insurance rates.
Comparing Car Insurance Rates for Old Vehicles
Using a quote comparison tool is the best way to find a comprehensive auto insurance policy that meets your individual needs. These sites provide dozens and even hundreds of free auto insurance quotes from industry leading companies.
They work with local and national car insurance providers to bring you affordable policies with different levels of coverage. As long as you know how much insurance you need, shopping around for auto coverage will be easy and fun.
When shopping for car insurance online, you will need to provide relevant information about yourself and your vehicle in order to receive free quotes.
Drivers are usually required to enter the following information:
- Age
- Gender
- Marital status
- Driving experience
- Credit history
- Location
- ZIP code
- Type of car
The answers you provide will affect your car insurance rates.
Be accurate in your answers. Don’t be afraid that you will pay more because you have a bad driving record or a poor credit score. Many auto insurance providers feature competitively priced policies for young drivers, seniors, and convicted drivers.
I recommend applying for at least three quotes for old car insurance to find the best deal. You may also carry a minimum insurance policy on old vehicles with decreased value to save even more.Dani Best Licensed Insurance Producer
If you are on a tight budget, you can also look for policies with higher deductibles. Try to find out how raising your deductible will affect your car insurance premiums. The cost of your policy is directly related to your deductible.
How to Save on Auto Insurance for Older Cars
An old vehicle auto insurance policy is usually already affordable, but the following tips may help you save even more. From paying in full to bundling policies, there are plenty of ways to reduce the costs of your auto insurance policy.
Pay Your Car Insurance Rates Upfront
One of the best ways to lower car insurance rates is to pay your premiums up front. Some companies require a very low down payment or no payment at all. If you own an older car, paying full to lower car insurance rates policy will be easy.
Learn More: Should I pay my auto insurance in full?
Monthly rates can fit seamlessly into your budget, but you will end up paying more on car insurance over the long run. If you choose to pay your premiums monthly, you will be forced to manage more paperwork. In addition, many insurance providers will charge a small fee to process your monthly premiums.
In addition, many insurance providers will charge a small fee to process your monthly premiums.
Drive Fewer Miles to Lower Your Auto Insurance Rates
People who use their cars for long-distance commuting and business pay more for auto insurance than those who drive less. If you want to get lower car insurance rates, you may want to explore ways to limit your mileage.
Is it better to pay a flat premium for car insurance or pay a rate based on how many miles you drive⚖️? The answer is both🤔! It depends on how much you drive. Find out where you fit👉: https://t.co/gVlemk9X6D pic.twitter.com/GFy5RIVsSZ
— AutoInsurance.org (@AutoInsurance) June 17, 2024
Most insurance companies offer a low mileage auto insurance discount to those who agree to a mileage restriction. Walking, riding a bike, and using public transportation will result in lower premiums.
Consolidate Your Policies with One Insurance Company
Another way to save money on car insurance is to combine all of your policies into one. Most people have multiple insurance policies with different carriers. Not only is this confusing, but you’re probably spending more than you have to on insurance.
Insuring your home, car, boat, and motorcycle under the same roof can save you hundreds and even thousands of dollars a year. The best companies for bundling home and auto insurance offer discounts of up to 25% to those bundle their home, auto, and life insurance with the same provider.
Keep Your Car Safe
Even if you have an older car, get ready to make a small investment in order to reduce the risk of theft. Drivers who install approved alarms and immobilizers on their vehicles pay up to 10% less on car insurance than those who don’t have any safety devices installed.
The safety of your car will be taken into consideration by your insurance provider.
Make sure your windows and windshields are free of cracks. Adding air bags, automatic seatbelts, and antilock brakes can also help improve the safety rating of your vehicle. Learn how to get an anti-theft auto insurance discount in our step-by-step guide.
Apply for Discounts
Discounts are a great way to get cheap car insurance for older cars. The best companies for old vehicle auto insurance offer the following discounts:
Numerous organizations are offering driving classes to those who want to improve their skills and lower their auto insurance rates. Some companies offer up to 35% discounts for completing advanced driving courses.
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Buy Cheap Car Insurance for Older Vehicles Near You
Getting cheap car insurance for an older vehicle can be done in a few easy steps. Shopping online at the companies with the best insurance for older cars, knowing how to compare auto insurance quotes, and applying for various discounts can help you save a small fortune.
For extra savings when insuring an older car, cut down on policy extras and maintain a good credit rating. Compare rates now with our free auto insurance comparison tool to save big on auto insurance for older vehicles.
Frequently Asked Questions
Do I need auto insurance for my older car?
While auto insurance requirements vary by jurisdiction, it is generally advisable to have insurance coverage for your older car. Even if your car is not brand new or highly valuable, insurance can still provide financial protection in case of accidents, theft, or other unforeseen events.
Will my older car insurance be more expensive than coverage for a new car?
Generally, insurance premiums for older cars tend to be lower than those for new or more expensive vehicles. This is because older cars are typically less valuable and may have lower replacement costs. However, insurance rates can vary based on various factors, such as your driving history, location, and the level of coverage you choose.
The only way to know for certain what you’ll pay for old vehicle insurance is to get auto insurance quotes. Compare rates using our free quote comparison tool today.
What type of auto insurance coverage should I consider for my older car?
The type of coverage you should consider for your older car depends on your specific needs and circumstances. Liability-only auto insurance, which covers damages you cause to others in an accident, is typically required by law. You may also want to consider collision coverage to protect against damage caused by accidents, and comprehensive coverage to protect against theft, vandalism, or natural disasters.
Is it worth getting comprehensive and collision coverage for an older car?
The decision to get comprehensive or collision coverage for an older car depends on factors such as the car’s value, your budget, and your risk tolerance. If your older car has a low market value and the cost of the coverage exceeds the car’s value, it may not be cost-effective to carry comprehensive and collision coverage. However, if the car still holds significant value or you want additional protection, these coverages may be worth considering. You can get quotes for these coverages using our free quote comparison tool.
Are there any special discounts available for insuring older cars?
Some insurance companies offer discounts specifically tailored for older cars. These may include discounts for low mileage, safe driving records, or anti-theft devices installed in the vehicle. It’s always a good idea to inquire with insurance providers about any available discounts for older cars to potentially lower your premium costs.
Should I consider dropping collision or comprehensive coverage if my car’s value decreases over time?
If your car’s value decreases significantly and the cost of collision auto insurance or comprehensive auto insurance becomes disproportionate to the car’s worth, you may consider dropping these coverages. However, before making this decision, it’s important to carefully assess the potential risks, your ability to handle unexpected repair costs, and your comfort level with assuming more financial responsibility in case of an accident or damage.
Are old cars cheaper to insure?
Yes, most older vehicles are cheaper to insure due to decreased value, so insurance companies have to pay out less if you total your car or need repairs.
Who has the cheapest insurance for older cars?
Auto-Owners has the cheapest car insurance for older cars. Compare rates with our free tool to quickly find cheap insurance for old cars.
What is classic car insurance?
Classic car insurance is insurance for cars older than 20 years that are considered collector’s items and rarely driven (learn more: Does my car qualify for classic car insurance?).
Is there an older car insurance trick?
There are a few tricks to saving on older car insurance. If your car’s value is severely diminished, you can drop collision and comprehensive insurance and shop around for older vehicle auto insurance quotes.
Free Auto Insurance Comparison
Enter your ZIP code below to view companies that have cheap auto insurance rates.
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Michael Vereecke
Commercial Lines Coverage Specialist
Michael Vereecke is the president of Customers First Insurance Group. He has been a licensed insurance agent for over 13 years. He also carries a Commercial Lines Coverage Specialist (CLCS) Designation, providing him the expertise to spot holes in businesses’ coverage. Since 2009, he has worked with many insurance providers, giving him unique insight into the insurance market, differences i...
Commercial Lines Coverage Specialist
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
