Why does my car insurance want to charge me $2,400 for my car insurance if it is old?

$2,500 for full coverage

$1,200 for liability insurance
(Based on a year)

The car is really old

It's a 1994 Toyota 4Runner

I've called a few places and it's the same thing

Why is it so much?

I'm under 25. Is there anything else I can do? Can I get something else besides car insurance? Does anybody have any advice?


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Most Helpful Guy

  • because it's a SUV and you're under 25, I know it's bs

    you should put it under your family's policy it will bring the price down

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What Girls Said 4

  • I think because your insurance company also has to pay for the other person's car if the event of a car crash.

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    • On liability, they don't have to

  • maybe because its more likely will need car assistance.

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  • Erm i dont think that too much knowing how old the car is. I meant they charge a lot more for my dads car its a '97 Range Rover Autobiography (he ain't never gonna sell this old thing even tho we all tell him to I don't know why lol)

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  • Because the car is so old...

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    • Which doesn't make sense. If i crashed it it wouldn't be worth much anyways.

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    • It has no problems. My friend has a 2007 Honda Civic and that car crashed because the tire came off. My car is older and it's been in my family since it was new and never been in a wreck.

    • Tell that to the insurance company...

What Guys Said 6

  • under 25 your car insurance is typically higher
    additionally (and perhaps counter to your intuition) older cars are usually more expensive to insurance because they don't contain the modern safety features

    things like the most modern brake systems, air bags, air bag curtains, sensors etc... I see you're sort of arguing the point with someone else. so to avoid that

    I'm not an insurance actuary but that's how the operate. Older cars are typically more expensive than their contemporary counterpart. So if you were trying to insurance a 2014 4runner I imagine it would be cheaper

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    • My car has airbags and it also has something better than pointless sensors which is a real metal bumper not made out of plastic.

    • then argue with your insurance company.

      the fact is they are far smarter than you or I. they've crunched the numbers and run the statistics. I don't care or have any investment in how much you pay to argue with you... no offense but seriously why would I get into a back in forth about this

  • You are young and it is an offroad vehicle. The companies have to asuume the possibility that you will take unnecessary risks. Look up the value of your car. Old or not, Toyota holds value for some time. One huge tip about insurance... price a low deductible for the comprehensive portion of your insurance. This is the part you are most likely to need and it costs very little to go from a high to a low deductible. It is soo worth it. Trust me.

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  • Because in the event of a collision you also damage/destroy other property and perhaps cause injuries. Potential for lawsuits and extreme damage can sometimes reach into the millions! That is why insurance is so high for everyone.

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  • You can do as much damage with an old car as you can with a new car. Your rate is high because you are a male under the age of 25. You can try raising your deductibles to get lower rates.

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  • Why would you want full coverage on an old car? Just get liability at the minimum level. $1200 a year sounds reasonable for your age if you've ever had a ticket or two.

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    • Zero tickets! It's not just an old car. I love it.

    • @Asker I understand it is a loved car, I have a 93 corvette I feel the same way about. Just with old cars like that it generally costs in the extra full coverage insurance what the entire car is worth in just a few years.

  • You're a male under 25. It's going to be expensive. Most states will only require liability insurance, not full coverage, but then you run the risk of your vehicle being damaged and not being covered.

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    • In my state you can have liability but I might not be covered.

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    • Yeah they told me I wouldn't be covered if someone else hit me.

    • Exactly, that persons liability coverage would pay for your car in that situation.

      The problem with carrying only liability insurance is if you hit someone, they get covered, and you don't.

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