Insurance for older cars

Insurance for older cars may need more coverage than the minimum requirement depending on the state. Older cars are often good choices for teen drivers, so insurance is especially important.

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A former insurance producer, Laura understands that education is key when it comes to buying insurance. She has happily dedicated many hours to helping her clients understand how the insurance marketplace works so they can find the best car, home, and life insurance products for their needs.

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP® Joel Ohman

UPDATED: May 4, 2022

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Here's what you need to know...

  • Should you get full coverage on an older car? Every state requires some type of car insurance, but you may need more coverage than the minimum requirement
  • If you get into an accident without insurance, you can be sued, and in some cases, ruined financially
  • Older cars are good options for teen drivers who are just learning how to drive, but you always need insurance

What insurance should you get for an old car? When you own an older car, insurance is still necessary. Even though you may not feel like your beat up car is worth a whole lot, you still need to have some type of insurance coverage.

Car insurance is needed for many reasons. By understanding these reasons, you can find affordable car insurance for your older car.

To find good rates and car insurance quotes, enter your zip code now!

Legal Requirements for Insurance

All 50 states require some type of car insurance or proof of financially ability to pay large amounts of damage as a requirement to drive. Some states are stricter than others about required amounts of coverage.

Requirements for insurance are determined by statistics within your state about:

  • drivers
  • accidents
  • violations

Ignoring your state’s law because you drive an older vehicle is not wise. The penalty for driving without insurance can range from a ticket to loss of license to jail time for repeat offenders.

No matter how old your car is, you still have to have the required amount of car insurance as indicated by your state.

Most states require some type of bodily injury and property damage coverage. Other car insurance features that are not required by law such as comprehensive coverage can be dropped on an older vehicle.

Most drivers have comprehensive coverage on their vehicle when it is newer or when they still owe money on a car loan. However, once your car is paid off, you have the option to drop comprehensive coverage.

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Insurance Protects Your Finances

No matter how old a vehicle is, it can still do damage in an accident. The damage can be to the driver, passengers, other vehicles, people outside the vehicle, or to someone’s property. If you don’t have insurance, you can be sued by the injured or damaged party.

Lawsuits can ruin you financially by causing you to lose your savings, home, or wages. Carrying car insurance is the only way to ensure that you will be protected financially.

You can still be sued for more than the amount of your insurance policy, but at least having some coverage will help you in a court case.

Bodily injury insurance will cover any injuries done to you or your passengers while driving the vehicle. Property damage covers any damage done to another person’s property or another vehicle.

Insurance protects you from having to pay too much out of pocket.

Older Cars are Good for Teens

Many older cars are obtained by teenagers either from a parent or relative. If you have a teenager driving an older car, insurance is necessary. Teens have seven times more accidents than adults. As they are learning to drive, accidents are bound to happen.

Finding cheap car insurance for young drivers is not easy. Older cars for teens make sense because they will often cost less to insure than newer models.

Teenagers need to be protected by insurance not just to protect their parent’s finances but to protect themselves are well. Anyone 18 or older can be sued if they are the cause of an accident or property damage.

Having the right insurance coverage for a teen driver is important to protect that teenager’s future.

Even on older vehicles, you may want to add collision insurance in case your teen gets into an accident that is the older driver’s fault. Collision will provide money for the repairs.

When looking for car insurance for an older car, the best place to find a good deal is online. Enter your zip code now to find affordable car insurance quotes!



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Enter your ZIP code below to view companies that have cheap car insurance rates.

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