Cheap Old Car Insurance
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Do you own a car that is more than ten years old? If so, you could be paying more for coverage than you need to. This is because automobiles that are older have an entirely different value than new or newer vehicles. For a car that is worth $10,000 or less, you should have a different strategy than one that is new and worth more than twice as much. The good news is you can get cheap old car insurance online by utilizing some basic strategies. Get insured for a lot less online with good to go insurance.
If you have a brand new car, you should probably get fully insured
This means buying a comprehensive policy that will broadly protect your vehicle from most incidents. If your ride is financed or leased, you will be forced to buy full coverage. This means you will be paying more, no matter what company you insure your vehicle through. With an older automobile, you have more options. You can get limited coverage that saves you hundreds each year.
When you select the type of insurance you need to buy; you should weigh the value of the vehicle against the price of coverage. This means if you are thinking about fully covered comprehensive, it could be $2,000 a year or more. If your car is only worth $8,000 and depreciating by the day, you would pay an insurer the full value of it in less than four years, that is not a very smart investment move.
Many people mistakenly keep the same exact insurance plan they had when the car was brand new. This is great for the insurers but not so much for your pocketbook. Once you have paid off your loan and the car has depreciated 50% or more, you should reevaluate the kind of coverage you need. Automobiles age fast and especially if they have a lot of miles put on them. Even one that is only 3 or 4 years old can depreciate 50% or 60% if it has been driven more than 100,000 miles. Evaluate your current policy and see what things you can eliminate that will save you some money. The other route is to get an entirely new plan that is cheaper and better fits your present needs.
One type of insurance that is costly is collision
This will pay for damages your car suffered in an accident or incident. Let’s say you backed into a pole at a 7-11 store and smashed the bumper a bit. If you have a collision, you will be covered. If your ride is more than eight years old, the cost of repairing the bumper, in this case, might be less than paying hundreds more each year for the added protection collision brings. You can save $500 or more each year by eliminating collision from your policy. Get insured for less at goodtogoinsurance today.
Get Your Older Car Appraised Before Buying or Renewing your Policy
How can you buy the right kind of insurance for your car if you do not even know how much it is worth? You need to get a good idea of the cars present value and make policy decisions based on this info. Your insurance carrier will use a set guideline that determines the value of your auto. They will not pay a penny more if it totaled in a serious crash. Use free services like Kelly Blue Book to get a value amount. If the cost to insure your automobile each year is more than the amount you would get if your car was totaled, then you need to adjust your insurance coverage to reflect the actual value of the automobile.
You should also do some research into repair costs for your automobile
If you have a warranty on your used car, you might want to cut that as well and save the money instead. Remember, today’s used vehicles last much longer than they did 30 years ago. If you take care of your vehicle, with regular maintenance, you should have very few repair problems to worry about until the mileage exceeds 125,000 or more.
Do you have an older car sitting in the garage that you only drive a couple of times a month? Have you checked the policy on it lately? If something happened to it and it was totally damaged, would it be missed? If not, then you should get the bare minimum insurance. This means perhaps buying your state minimum amount of liability-only auto insurance. This will save you hundreds each year, and you can put that money away in safe investments that will grow even faster.
Get a Higher Deductible for your Used Car
Auto insurance providers make a lot of money by selling policies with low deductibles. You can save 10% or more by implementing this easy strategy. If you have 2 or older cars, raise their deductibles also. The key to this strategy is making sure you have the deductible funds set aside, in the event you need to file a claim one day. If your car is not valued much, less than $3,000 for example, there is a high chance if you get into a wreck your insurer will deem it a total loss if an accident occurs. In a case like this, the deductible will not even matter. A quick tip: on any vehicle that is ten years old or more, raise the deductibles and decrease coverage, this will save you some serious money.
Drive Less and Get Cheaper Rates
If you have an old car that you rarely drive or a vintage vehicle that you perhaps are storing as an investment, you can qualify for low mileage rates. Most insurers charge less for cars that are driven only on the weekends or below a certain amount of miles per month. If you are storing your vehicle, for whatever reason, you might want to cancel your coverage altogether, until you decide if you will drive it again. Some low mileage policies allow you to drive only a specified number of miles each year, or less, to qualify for discounted rates. To see how much you could save, apply for a free quote at good to go auto insurance right away.
If you are a senior, older than 55, you can also qualify for discounts. Seniors are some of the safest drivers on the road and many insurers reward them with lower rates. Most seniors can get cheap old car insurance, just by shopping around. All you need to do is apply for quotes at leading sites like goodtogo insurance direct. You can buy only the coverage you need and also take advantage of discounts online. Get started today and see the big savings for yourself.