Insurance Myth: Older cars are cheaper to insure- FALSE!
Car insurance rates for all vehicles vary depending on several factors, such as who drives a vehicle, garaging location, and its annual mileage.
For older vehicles, many drivers choose to carry only Liability (Bodily Injury or BI and Property Damage or PD) coverage, which covers injury or damage to other people or property, not damage to the insured vehicle.
With Liability only, if there is damage to the insured's vehicle, it will not be covered. Liability only coverage very well may be cheaper than insuring a vehicle with Liability, Comprehensive and Collision coverage, however the cost of liability for an older vehicle and a newer vehicle will not be impacted.
Want to know more about the cost & coverage difference between liability only and "full coverage?" Give our office a call today; 716-631-0190.