817-485-5050 info@schwabagency.com

Auto insurance for old cars

You may think that your auto insurance premium would decrease as your vehicle gets older. However, your auto insurance premium is not only determined by the age of your vehicle.

Your premium rate depends on several factors that go beyond the value of your car, including your insurance history, driver’s record, location, and other variables. Here are the reasons why auto insurance for old cars does not decrease:

  • Older cars, especially when not maintained regularly, are often prone to accidents. At the same time, they may not be equipped with the latest safety features that a new model car has. These may lead to requesting claims frequently and increase your premium rate.
  • In case of a collision, the financial liability will remain the same irrespective of your vehicle’s age. Hence, if you have totaled someone’s car or someone has filed a lawsuit against you, the insurer will have to pay the full sum.
  • Besides covering the damage caused to someone else’s vehicle, auto insurance also covers the minor accidents that your car encounters. The cost of repair increases as the vehicle gets older, but your insurance will cover these costs.
  • Also, the cost required for settling medical care, rehabilitation costs, loss of income due to disability, or even funeral expenses in case of accidents mostly remain the same.
  • Not only new cars but older cars are also at risk of theft. In this case, your insurer will have to reimburse you regardless of the age of your vehicle.

In all the above situations, your auto insurance will protect your car and cover the damage. This is why the auto insurance rate does not drop as your vehicle gets older.  To buy the best auto coverage, contact the experts at The Schwab Agency in Colleyville, Texas.  We look forward to getting you covered.

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The Schwab Agency

The Schwab Agency, LLC has over 20 years of experience within the insurance industry in our community and our goal is to bring you unparalleled service and dedication. Since the majority of our business is through long-lasting relationships with our clients, fulfilling your needs is of the highest priority.

COVID-19 Update:


Due to new increasing cases of Covid-19 our office will be closed to the general public until further notice. Our team will still be working full-time in the office and here to assist with all your insurance needs. Please contact us via phone at (817) 485-5050 or email: info@schwabagency.com.


We hope everyone is doing their part to protect themselves and their loved ones during these hard times, and thank everyone for understanding our decision to do our part to help protect our staff and those in our community.


Tim Schwab.
President and Managing Partner