Cheap Auto Insurance for Older Vehicles in 2026

Erie, Auto-Owners, and Geico have some of the cheapest auto insurance for older vehicles, with rates starting at $564 per year.

Erie’s Rate Lock can keep premiums for an older car from changing as long as you don’t make a qualifying change to your policy.

Auto-Owners offers collision benefits that may reduce or eliminate your deductible for certain covered claims.

9 Best Companies: Cheapest Auto Insurance for Older Vehicles

Geico has mechanical breakdown insurance for eligible vehicles, which can help pay for certain covered repairs beyond routine maintenance.

Enter your ZIP code to compare personalized rates, coverage options, and find the best insurance for older cars in your area.

Comparing Auto Insurance Rates for Older Vehicles

Older vehicle insurance rates depend on the car’s value, annual mileage, repair costs, deductible, and how much coverage the driver carries. These factors can help drivers decide which coverage still makes sense for an older car.

Full coverage costs noticeably more because it adds collision and comprehensive protection, which may become harder to justify as a car loses value.

Auto Insurance Monthly Rates for Older Cars by Coverage Level

The $500 deductible matters because drivers must pay that amount before collision or comprehensive coverage starts contributing to the cost of repairs.

Even if an older car’s resale value has fallen, repairs can still be expensive when replacement parts are costly or difficult to find. This can also be an important consideration when shopping for auto insurance for classic vehicles.

When people finance cars, they are generally required to carry both collision and comprehensive coverage until the loan is paid off, which limits their ability to lower premiums.

Once you fully own the car, compare quotes and weigh its value against coverage costs to find the cheapest auto insurance for older vehicles without paying for protection you no longer need.

State-by-State Car Insurance Rates for Older Cars

Where you live can make a big difference in what you pay each month, which is why car insurance rates by state matter.

Before keeping full coverage, check your car’s current value and decide whether a future claim payout would justify the extra premium.

Drivers with paid-off cars can consider minimum car insurance coverage required in most states, but they would pay their own repair costs after causing a crash.

Shopping around among local insurers can help you find the cheapest insurance for cars older than 20 years, since companies can price the same vehicle very differently.

How Credit Affects Older Vehicle Insurance Rates

Credit can have a bigger effect on the cost of insuring an older vehicle than many drivers expect, especially if they have lower credit scores.

One older car insurance trick is to compare credit-based auto insurance rates at renewal since insurers can weigh the same credit profile differently.

Check your credit report for incorrect balances, late payments, or accounts that aren’t yours, and dispute any errors before your next renewal.

Credit can still affect your car insurance rate even if your older vehicle is worth less. When renewing, check your credit report and get quotes from several insurers to find the best rate.

Get More Details: How Credit Scores Affect Car Insurance Rates

Older Vehicle Insurance After Accidents and DUIs

A traffic violation can make insurance for an older car expensive compared to the car’s value.

Before switching insurers after an accident, check whether your existing policy’s accident forgiveness benefit applies to the accident, then compare auto insurance quotes for older cars.

In some states, a DUI might require SR-22 insurance, and high-risk car insurance offers options for drivers with limited standard coverage choices.

An SR-22 is a form that proves you carry the required liability coverage, not a separate type of insurance policy. A DUI can also lead to higher premiums and license restrictions.

Since insurers look at a person’s driving record over several years, an accident or traffic violation can still affect premiums when renewing auto insurance for antique vehicles.

Once a violation falls outside an insurer’s review period, it may have less effect on your rate, so compare quotes again.

How Driver Age Affects Older Car Insurance

Assigning a teen driver to an older car doesn’t always guarantee cheap auto insurance for older cars, since auto insurance rates by age can still have a big impact on pricing.

Families with several cars should check which vehicle each driver is assigned to, since adding a 16-year-old can affect the total premium.

Drivers in their mid-20s may want to get new quotes, since rates often decrease as they move out of the highest-priced age groups.

Drivers nearing 65 may want to compare rates again, since premiums can begin to rise with age even with the same car and a clean driving record. Good student and driver’s ed discounts may help eligible younger drivers lower their premiums.

Many insurers require students to maintain at least a B average or 3.0 GPA to qualify for a good student discount.

Keeping a young driver on a family policy is often less expensive than buying a separate policy for them.

Continue Reading: Male vs. Female Car Insurance Rates

Coverage Options for Car Insurance for Older Vehicles

For an older vehicle, focus on coverage for losses you’d have difficulty paying for out of pocket.

Collision coverage pays for covered crash damage minus your deductible, so compare the cost of the coverage with your older car’s value. Other coverages may protect against losses that collision coverage doesn’t cover.

• Comprehensive Coverage: Pays for covered non-collision losses involving older vehicles, including theft, fire, hail, flooding, vandalism, falling objects, and animal strikes.
• Medical Payments Coverage: Helps cover accident-related medical bills for you and your passengers, regardless of who caused the crash.
• Rental Reimbursement: Pays toward temporary transportation when a covered claim leaves your older vehicle in the repair shop.
• Roadside Assistance: Helps with towing, battery jump-starts, lockouts, flat-tire changes, and fuel delivery when an older vehicle breaks down.
• Uninsured Motorist Coverage: Helps cover eligible injuries or vehicle damage when an uninsured or underinsured driver causes the accident, depending on state rules.

Coverage limits and deductibles affect how much your policy may pay after a covered loss and how much you’ll pay out of pocket. A higher deductible can lower your premium, but you’ll pay more toward a covered claim before insurance pays.

Older car owners may want higher liability limits if state minimum coverage wouldn’t cover the full cost of an accident.

When comparing auto insurance for old vehicles, check whether aftermarket parts or custom upgrades need extra coverage, since a standard policy may not fully cover their value.

Compare optional car insurance coverage to find cheap auto insurance for older vehicles without paying for protection you may not need.

Ways to Save on Auto Insurance for Older Cars

Discounts for older vehicles can lower your insurance costs, but the biggest discount may not fit how you drive.

If you drive your older car only occasionally, consider a low-mileage discount or program. Your insurer may verify your mileage using odometer readings or telematics.

Top Auto Insurance Discounts for Older Vehicles

Check which anti-theft devices, such as approved alarms, immobilizers, or tracking devices, qualify for a discount before buying new equipment.

If you have an older car and another vehicle, price both options before assuming a multi-car discount will save you money.

In addition to these discounts, a few coverage and policy changes can further reduce the cost of cheap car insurance for older vehicles.

An auto insurance discount can reduce premiums, but changing payment frequency, liability limits, and how the vehicle is used may also save you money.

• Avoid Small Claims: For minor damage, compare the repair cost with your deductible before deciding whether to file a claim.
• Compare Insurers at Renewal: Shop around before renewing because insurers can charge different rates for the same older vehicle.
• Lower Liability Limits Carefully: Lowering your liability limits may reduce your premium, but it also leaves you with less financial protection if you cause an accident.
• Review Collision Coverage: Compare your yearly collision premium and deductible with your older car’s current value to decide whether the coverage is still worth paying for.
• Update Vehicle Usage: Update your insurer if an older car becomes a weekend or secondary vehicle, since how you use it can affect your premium.

These steps work alongside the discounts above rather than replacing them. Shopping around can help you get an affordable auto insurance quote when insurers price the same older vehicle differently.

Reviewing your policy at renewal can uncover more savings when your older car’s use, mileage, or insurance needs change.

Usage-Based Car Insurance for Older Vehicles

Usage-based insurance (UBI), also called telematics insurance, uses an app or device to track driving and calculate potential savings.

Drivers who keep an older car for occasional trips may benefit if the program rewards lower annual mileage.

The Nationwide SmartRide App offers savings up to 40%, the highest UBI savings among the insurers compared here.

Most programs compared use a mobile app, which can make UBI easier to use with older vehicles that may not support a plug-in telematics device.

Telematics programs may track acceleration, hard braking, mileage, speed, and time of day to see how safely and often you drive.

Before signing up, see if risky driving could raise your rate and make sure the program works with your older car.

Top Auto Insurance Providers for Older Vehicles

Erie, Auto-Owners, and Geico are among the best options for older vehicles when keeping monthly costs manageable is a priority.

Erie starts at $47 per month, while Auto-Owners comes in at $51 and gives drivers more flexibility when choosing coverage for an aging car.

Geico starts at $52 monthly and makes it easy to manage your policy online. When comparing the best auto insurance companies, check rates, discounts, and whether the coverage still makes sense for your older car’s value.

Bigger insurers can be convenient, but size alone doesn’t tell you whether you’re getting a good deal on an older vehicle. Rates can vary a lot from one company to another, so checking quotes is worth the extra few minutes.

#1 – Erie: Cheapest Overall

Pros

• Highest Claims Score: Erie scores 743 out of 1K 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 Common Losses

Pros

• 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.
• Claims Satisfaction: Auto-Owners scored 711 out of 1K for claims satisfaction, which matters when an older car needs repairs after an accident.
• Collision Deductible Waiver: If an older vehicle hits a car insured by Auto-Owners, the company may waive the collision deductible after the accident.

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: Geico offers a 25% multi-vehicle discount when you insure more than one older vehicle.

Cons

• Limited Local Agent Access: Geico handles most things online or by phone, which may not work if you prefer dealing with a local agent.
• 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: Travelers’ Responsible Driver Plans include accident forgiveness, minor violation forgiveness, deductible reductions, and total-loss waivers.
• 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

• Local Agent Access: State Farm has local agents across the U.S. who can help older-vehicle owners get quotes, update coverage, and manage their policies.
• Driving Discount: Our Drive Safe & Save review shows drivers with older vehicles get 10% off for joining and can save up to 30% based on how they drive.
• Low-Mileage Savings: Our State Farm insurance review shows Drive Safe & Save factors in annual mileage, benefiting older vehicles driven fewer than 7.5K 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 Minor Accidents

Pros

• Small Accident Forgiveness: Progressive won’t raise rates for a first claim of $500 or less, helping older-vehicle owners after minor accidents.
• Snapshot Savings: Safe drivers can save up to 30% with Snapshot based on their driving habits and mileage.
• Multi-Car Savings: Progressive offers a 12% multi-car discount, which can help if you insure more than one older vehicle.

Cons

• Extra Program Cost: Progressive’s Deductible Savings Bank costs extra and requires comprehensive and collision coverage with at least a $500 deductible.
• 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 Claims Support

Pros

• Claims Satisfaction: Nationwide scored 729 out of 1K for claims satisfaction, showing that customers generally had a positive experience when filing and handling claims.
• Pay-Per-Mile Pricing: SmartMiles bases part of your rate on mileage and works with most vehicles made after 1996, which can help if you drive less.
• Road-Trip Cap: SmartMiles only counts the first 250 miles each day, so longer road trips won’t add as many miles to your bill.

Cons

• Pre-1997 Restriction: As covered in our Nationwide insurance review, SmartMiles generally doesn’t work with 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 looks at mileage and driving habits, which can help if you don’t drive your older vehicle very often.

Cons

• Trip Requirement: You’ll need to take 10 Signal trips within 30 days to keep the initial discount. Learn more in our Farmers insurance review.
• Rate Increase Risk: Risky habits picked up by Signal, such as hard braking or late-night driving, could raise your rate at renewal.

#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: Allstate 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 that you’ll need at least 50 Drivewise trips to maximize savings, which may be harder with less-driven older vehicles.

Getting the Best Auto Insurance for Older Vehicles

Finding cheap auto insurance for older vehicles starts with understanding what your insurer would actually pay if the car were totaled.

Erie, Auto-Owners, and Geico are leading choices, but drivers should also compare the cheapest auto insurance companies using identical limits, insurance deductibles, and personal information when requesting quotes.

To estimate what your older vehicle may be worth after a total loss, a totaled car value calculator can provide a useful starting point before comparing it with the insurer’s valuation.

Your car’s mileage, condition, past damage, and local prices can all affect how much your insurer pays if it’s totaled.

Check your older car’s value against what you pay for collision and comprehensive coverage each year. If the premiums and deductible are close to what you could receive after a total loss, keeping both coverages may not be worth it.

Make sure to let your insurance company know if you’ve fitted any special equipment or restored major parts, and compare classic car insurance companies to see whether those upgrades need specialized coverage or documentation.

Before you choose a policy, compare your car’s value and likely claim payout with the cost of coverage, then use our free comparison tool to find coverage that fits your older vehicle.