Are older cars cheaper to insure than newer ones?

Yes, older cars are usually cheaper to insure than newer ones because they cost less to replace if they get damaged. New cars often have advanced technology and expensive parts that make them more costly to repair or replace in case of an accident. Older cars may not have as many safety features, which could lead to higher risk of accidents, but their lower value typically results in lower insurance premiums. It’s a good idea to compare quotes from different insurance companies to find the best rate for your specific car and situation.

Posted by Alyssa DiCrasto

Alyssa uses her many years of experience writing about complex industries to research and create clear content that makes insurance easy to understand. She has been with Rate Retriever since its beginning, establishing our strict editorial policy and directing our comparison experience.

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