Cheap Auto Insurance for Older Vehicles in 2026 (Save With These 8 Companies)

Erie, Auto-Owners, and Geico lead cheap auto insurance for older vehicles, with rates starting at $564 annually.

Erie’s Rate Lock will assist owners of older cars in maintaining stable premiums provided that no qualifying policy changes take place.

Auto-Owners provides collision benefits which could eliminate or lower deductibles in some collisions.

9 Best Companies: Cheap Auto Insurance for Older Vehicles

Geico offers Mechanical Breakdown Insurance for vehicles that are eligible, paying out for the specified repairs in addition to routine maintenance.

Enter your ZIP code to compare personalized rates, coverage options, and available discounts for an older vehicle in your area.

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.

Older Vehicle Auto Insurance Monthly Rates by Coverage level

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.

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 Auto 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 details about yourself and your vehicle, such as your age, gender, marital status, driving experience, credit history, location, ZIP code, and type of car, as these factors influence your 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.

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 Auto 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 Auto 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:

Top Discounts for Older Vehicle Auto Insurance

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.

#1 – Erie: Top Overall Pick

Pros

• Highest Claims Score: Erie scores 743 out of 1,000 for claims satisfaction, the highest among all nine companies, giving owners of older vehicles a strong claims experience.
• Deductible Reduction: Erie lowers the collision deductible by $100 each claims-free year, up to $500, helping drivers with older vehicles after an accident.
• Three-Year Accident Forgiveness: After three years with Erie, drivers with older vehicles can have their first at-fault accident forgiven without paying extra.

Cons

• Limited Deductible Availability: Our Erie insurance review notes its diminishing deductible isn’t available everywhere, limiting the $500 reduction for some older vehicles.
• Rate Lock Exceptions: Rate Lock can keep premiums steady for older vehicles, but rates may change if you add or remove a car or driver or change your garaging address.

#2 – Auto-Owners: Best for Custom Coverage

Pros

• Adjustable Deductibles: Auto-Owners lets you choose a deductible that fits your budget, making it easier to adjust coverage as older vehicles lose value.
• Collision Deductible Waiver: If an older vehicle hits a car insured by Auto-Owners, the company may waive the collision deductible after the accident.
• Common Loss Deductible: If the same event damages your older vehicle and home, Auto-Owners may reduce or waive the auto deductible based on your property deductible.

Cons

• 36-Month Eligibility Rule: You’ll need 36 months without paid at-fault claims or major violations before getting accident forgiveness for older vehicles.
• No Direct Online Purchase: Drivers with older vehicles need an independent agent to buy Auto-Owners coverage. Deep Dive: Auto-Owners Insurance Review

#3 – Geico: Best for Online Tools

Pros

• Easy Online Access: Geico lets drivers with older vehicles get quotes, check discounts, and manage their policy online or through the mobile app.
• Clean-Driver Discount: Drivers with older vehicles may save up to 22% after one accident-free year, as detailed in our Geico insurance review.
• Multi-Vehicle Savings: If you have more than one older vehicle, insuring them together with Geico could save you up to 25%.

Cons

• MBI Eligibility Limits: Most older vehicles won’t qualify for new Mechanical Breakdown Insurance since cars must be under 15 months old with fewer than 15,000 miles.
• DriveEasy Rate Risk: DriveEasy can raise rates for older vehicles if your recorded driving habits show a higher risk.

#4 – Travelers: Best for Coverage Options

Pros

• Multiple Coverage Choices: With Travelers, you can pick from collision, comprehensive, roadside assistance, rental coverage, or accident forgiveness for older cars.
• Telematics Savings: Drivers with older vehicles can save up to 35% at renewal with IntelliDrive 365, plus up to 10% for participating during the first policy term.
• Renewal Participation Discount: Staying enrolled in IntelliDrive 365 can give eligible drivers with older vehicles another 2% discount at renewal.

Cons

• Telematics Rate Risk: Riskier driving recorded by IntelliDrive 365 could raise your rates when you insure older vehicles. Read More: Travelers Insurance Review
• Limited State Availability: IntelliDrive 365 is available in 31 states, so some drivers with older vehicles won’t have access to these savings.

#5 – State Farm: Best for Agent Network

Pros

• Personal Coverage Help: Our State Farm insurance review shows agents can help drivers choose which coverages are worth keeping on older vehicles.
• Driving Discount: Drivers with older vehicles get 10% off for joining Drive Safe & Save and can save up to 30% based on how they drive.
• Low-Mileage Savings: Drive Safe & Save factors in annual mileage, which can benefit older vehicles driven fewer than 7,500 miles a year.

Cons

• Classic Cars Excluded: Antique and classic older vehicles aren’t eligible for Drive Safe & Save, so drivers can’t earn the program’s potential 30% savings.
• Three-State Exclusion: Drive Safe & Save isn’t offered in California, Massachusetts, or Rhode Island, so older vehicles there can’t qualify for the program.

#6 – Progressive: Best for Usage Savings

Pros

• Snapshot Savings: Drivers who save with Snapshot average $328 a year, making it useful for older vehicles that aren’t driven as often.
• Multi-Car Savings: Progressive’s multi-car discount averages 12%, which can help families save when insuring several older vehicles.
• Small Claim Protection: Progressive won’t raise your rate for qualifying claims under $500, which can come in handy for minor damage to older vehicles.

Cons

• Savings Can Vary: Snapshot looks at how you drive, so having older vehicles doesn’t automatically mean you’ll get the average $328 savings.
• Five-Year Wait: You’ll generally need five years with Progressive before broader accident forgiveness applies to your older vehicles. Related: Progressive Insurance Review

#7 – Nationwide: Best for Policy Reviews

Pros

• Annual Coverage Review: Nationwide’s On Your Side Review helps drivers see if their current coverage still makes sense as older vehicles lose value.
• Pay-Per-Mile Pricing: SmartMiles bases part of your rate on mileage and covers most vehicles made after 1996, making it useful for older vehicles driven less often.
• Road-Trip Cap: SmartMiles only counts the first 250 miles each day, keeping occasional long trips from adding too much to costs for older vehicles.

Cons

• Pre-1997 Restriction: As covered in our Nationwide insurance review, SmartMiles generally doesn’t cover older vehicles made before 1997.
• Compatibility Limits: Some older hybrid, electric, and diesel vehicles may not work with SmartMiles, even if they meet the model-year requirement.

#8 – Farmers: Best for Discount Variety

Pros

• Plenty of Discounts: Farmers offers Signal, safe-driver, Auto Pay/EFT, and bundling discounts, giving drivers several ways to save on older vehicles.
• Safe-Driver Savings: Drivers with older vehicles can qualify for a safe-driver discount after three years without chargeable accidents or citations.
• Mileage-Based Savings: Signal considers mileage along with driving habits, which can help drivers save when their older vehicles aren’t driven as often.

Cons

• 10-Trip Requirement: Drivers need to complete 10 Signal trips within 30 days to keep the initial discount on older vehicles. Learn More: Farmers Insurance Review
• Higher Renewal Rates: Signal can raise rates for older vehicles if it records risky habits like hard braking or late-night driving.

#9 – Allstate: Best for Deductible Rewards

Pros

• Deductible Rewards: Allstate takes $100 off your collision deductible when you sign up, plus another $100 each accident-free year, up to $500 for older vehicles.
• $0 Collision Deductible: If you earn the full $500 reward, you could pay nothing toward an eligible collision claim on older vehicles with a $500 deductible.
• Free Crash Detection: Drivewise includes free crash detection and can connect you with 911, roadside help, or claims support after a crash involving older vehicles.

Cons

• Collision Coverage Required: Deductible Rewards only works with collision coverage, so it won’t help if you’ve dropped that coverage on lower-value older vehicles.
• 50-Trip Requirement: Our Allstate insurance review notes you’ll need at least 50 Drivewise trips to maximize savings, which may be harder with less-driven older vehicles.

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. Protect your old vehicle at the best prices by entering your ZIP code into our free auto insurance quote comparison tool.