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I understand there's something of a bell-curve effect on insurance (in the UK, at least), whereby the cost of insuring cars of 10+ years of age increases. I'm c
by MistahKoala 9y ago
I understand there's something of a bell-curve effect on insurance (in the UK, at least), whereby the cost of insuring cars of 10+ years of age increases. I'm curious to know how much of a difference that would make to the total cost of ownership.
- ams6110 9y agoIn the USA, in my experience, older cars are always cheaper to insure. Also you can often reasonably drop the collision coverage.
- BeetleB 9y ago>whereby the cost of insuring cars of 10+ years of age increases. Have not seen this. Keep in mind that insurers only care about the cost to replace the car. If the car's value is so low (which it will be after 10+ years), the cost to insure would be low too.
- MistahKoala 9y agoInsurers also care about passenger risk. I assumed it was related to the safety and reliability profile of the car, as well as the profile of claims involving older cars (i.e., older cars possibly being involved in more claims).