Older cars and Insurance..?

Question

Im young..I don't know too much about cars yet.

I was wondering, do older cars typically cost less to insure??? I know it sounds dumb but I really dont know.

I had a 99 explorer, 91 sentra, 86 accord, and now I am probably getting a 74 Dart. I know insurance changes depending on your age and violations on your record..but it seems like older cars cost less than 'newer' cars. Will my Dart cost more since it is a classic? It is not restored yet, or sportin classic plates either. Does that change anything??? Is there a difference because of color, or model (ss, suv, convertible, truck, etc?) Let me know..

Answer 1

I sell insurance so the way it works is if you only carry liability ins. It will cost the same no matter what kind of car you have. If you are putting everything (comp, coll, um) those rates will be based off the vehicle. If it is a classic car for every day use it will be based off of how much the car is worth. A vehicle that cost more to repair will cost you more monthly but also if that vehicle has better safty features you can have more disscounts...

Answer 2

A 74 Dart in most cases if it in good enough condition maybe concerned a classic. If you do not use it as an everyday driver you can get classic car insurance, That means full coverage with no deductible for the actual value of the car.Which sometimes can be worth a lot. The insurance is very cheap usually under $300 for an entire year.

Answer 3

Your insurance rates are all dependent on lots of things.

Older cars are generally less to insure because they're cheaper to replace, simple as that.

There's generally 3 parts to car insurance: liability, comprehensive, and collision.  Here's how it works.

Liability is usually the only one you legally have to carry (but that depends on where you live).  Liability covers damage to other people's cars should you cause an accident, their health bills, damage to property, etc.  This is basically the coverage that takes care of expenses to OTHER people's belongings and health as a result of something YOU did wrong.

Liability is priced almost entirely on your age, s*x, driving style, previous convictions and accidents, as well as where you live (people in say, New York City are higher risk drivers than people in say, Des Moines, Iowa)

Then there is collision.  This is coverage of YOUR vehicle in the event of an accident that is entirely (or partially) YOUR fault.  If it is 100% someone else's fault, their liability will cover YOUR car.  Collision's price will change based on your vehicle, since it's dependent on replacement cost, parts cost, rate of failure in accidents, etc.

Lastly, is comprehensive.  This covers your car in the event it gets keyed, someone steals it, breaks into it, steals your things in it, etc.  This coverage's price is based mainly on the type of vehicle (Honda Civics are stolen way more often than Fiats), and where you live, and your previous comprehensive claims.

Those three things make up your coverage and ultimately, your premium.  If you buy a '74 Dart, I presume it won't be financed, in which case, you can skip comprehensive and collision entirely, and get a really cheap rate.  (But will have no coverage should a hail storm total it, or someone keys it.)

If you're financing it, the financing company almost always requires you carry comprehensive and collision insurance on the vehicle to protect their interests.

So to make a long story short, cheaper cars are generally cheaper to insure (for the collision and comprehensive part) because they're cheaper, thereby being cheaper to replace parts or the entire car for).