Does Your Car Year Affect Your Insurance Price?

Last Updated on February 11, 2020

There are many things that affect car insurance rates. Everything from your driving record to your zip code determines how much you will pay for car insurance. One of the things that many drivers do not consider is the year of their vehicle. There are some cases in which the year of your vehicle will not affect your car insurance rates, but often it will make a difference.

Liability Insurance

Liability insurance is the bare minimum car insurance you have to have to legally drive in most states. This car insurance only covers the medical bills and property damage to the other driver if you are at fault. It does not cover any damage to your own vehicle. For this reason, if you get liability-only coverage your car’s year will not affect your car insurance rates. However, it is important to note that your car’s make and model could affect liability only car insurance premiums if your vehicle is big and boxy, which causes more damage.

Safety Features

Many car insurance companies give discounts for safety features. Cars that have anti-lock brakes, airbags, mechanical restraints, anti-theft measures, or alarm systems typically qualify for car insurance discounts. While you can find some of these safety features on older model cars, they are not available on every model and year. The newer your car is, the more likely it will be to come standard with these safety features. In this way your car’s year could affect your car insurance rates.

Comprehensive and Collision

car year insurance priceComprehensive and collision coverage are car insurance policies that cover your personal vehicle’s damage in accidents and other circumstances. This coverage has to be able to replace or repair your vehicle if you are in an accident, have a theft, or other certain types of damages. Because this car insurance relates to your own property damages, the year of your car can affect these rates.

Typically, the more your vehicle is worth the more comprehensive and collision coverage will cost you. Newer cars are by default worth more than older cars. The make and model can also have an effect on this car insurance coverage because different models are worth more than others. One of the things to consider when you are buying a car is the year and whether or not you want to have this type of coverage.

It is also important to note that comprehensive and collision coverage is typically required if you are making payments on your new car. You cannot opt-out of full coverage insurance if there is a lien on your vehicle. Some states do not make this a requirement, but most lien holders on vehicles will make it part of your contract.

Theft Risk

If you are getting comprehensive coverage, this type of car insurance covers you in case of theft. If you are getting this type of car insurance, your car’s year, make and model will greatly affect your insurance rates. Older cars do not have as many anti-theft features. While newer cars have anti-theft features built-in as standard, older models do not have these features as a general rule. If your car is too old to have an alarm system, special ignition features, or other anti-theft measures, you will likely pay more for comprehensive coverage. On the other hand, if you have a newer car that comes with anti-theft as standard on the model, you could save quite a bit because the risk of theft is greatly reduced.

Shopping Around

The bottom line is that the year of your car does affect your car insurance rates, depending on the type of coverage you want to get and the make and model of your vehicle. It is a good idea to shop around for the best car insurance rates whether your car is new or old. In some cases having an older car will get you the best rates, and in other cases having a newer car is better.

Before buying a new car, call around to different car insurance companies and get quotes on the cars that you are considering. Get comparable quotes for both an older car and a newer car. You can then make a decision about the best car to get for you and your family.

You can also get car insurance quotes online. This is often the easiest way to get quotes on multiple vehicles because as you play with the quote form you can easily change the year, make and model of the vehicle to get different quotes. How you are buying your car and the type of car insurance you want to have will also make a difference in whether or not your car’s year makes a difference in the rates.

James Shaffer
James Shaffer James Shaffer is a writer for and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
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