How much does 6-year-old used car insurance cost?

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The average insurance cost for a 6-year-old used car is lower than that of a new vehicle, with full coverage averaging $2,219 per year and liability-only coverage averaging $979.

Older cars tend to be cheaper to insure due to their lower market value, but rates still vary based on factors like your location, driving history, engine type and how you use the car.

While full coverage may make sense for higher-value or financed vehicles, many drivers switch to liability-only as their cars age. Safety also plays a role – vehicles with strong crash-test ratings and built-in safety features often cost less to insure and offer better protection on the road.

When shopping for insurance, it’s smart to compare quotes from top insurers, evaluate your car’s condition and consider dropping collision or comprehensive if the cost outweighs the car’s value.

Average insurance cost for 6-year-old used cars

The average car insurance cost for a used car that’s 6-year-old years old is $2,219 a year for a full coverage policy and $979 for liability-only coverage.

Used cars are usually cheaper to insure than brand-new ones. With a lower market value, they cost less to repair or replace, so insurers don’t charge as much to cover them. However, how much you actually pay for coverage still depends on factors specific to you, such as your location, driving record and the type of coverage you have.

How car age affects used car insurance rates

Driving an older car can lower your insurance costs, but only to a point. As cars age and their market value drops, premiums typically go down. However, once a car becomes very old, other factors like repair costs or lack of safety features can keep rates from falling further.

For example, insuring a 6-year-old used vehicle costs about $2,219 annually, while a 3-year-old used car costs $2,473 annually.

While newer cars come equipped with advanced safety features and technology, they also tend to be more expensive to insure due to higher repair and replacement costs. In contrast, older vehicles often have lower insurance premiums, making them an attractive option for budget-conscious drivers.

Shopping for a used car can offer solid value, not just in purchase price, but also in long-term ownership costs like insurance. However, it’s important to look beyond the sticker price. Carefully evaluate the car’s condition, maintenance records, accident history and safety ratings to avoid costly surprises down the road.

Here’s what you can expect to pay for used car insurance based on the vehicle’s model year.

6-year-old used car insurance cost by engine

A car’s engine size and horsepower can impact insurance rates, as high-performance engines are often linked to faster driving and a higher risk of accidents, factors insurers take into account when setting premiums.

Insurance premiums for a 6-year-old used car vary by engine type, as insurers consider factors like performance, repair costs and how risky the car is to drive.

According to our data, cars with Flex Fuel engines are the cheapest to insure, with an average annual premium of $2,066.

On the other end of the spectrum, Electric engines are the most expensive, averaging $2,966 per year, likely due to higher repair costs and more complex components.

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How to choose the right insurance for a 6-year-old used car

As your car ages and loses value, your insurance needs may change. Full coverage might no longer make sense if the vehicle isn’t worth much. When reviewing your options, think about your budget, how much risk you’re comfortable with and how safe your car is to drive. It’s not just about age, it’s about whether your car is still worth protecting with more expensive coverage.

When full coverage still makes sense

Full coverage includes liability, collision and comprehensive protection. It’s not just for new cars, there are cases where it’s worth keeping for older ones:

• Your car still has a high market value and would be costly to replace.
• You rely on your vehicle daily and can’t afford sudden repair bills.
• You’re financing or leasing the car and your lender requires full coverage.
• You live in a high-risk area for theft, vandalism or extreme weather.

When liability-only is a smart move

Liability insurance is the cheapest option and covers damage you cause to others. It could be the right fit if:

• Your car’s value is low and not worth insuring against damage.
• You have savings to replace the car if it’s totaled.
• You drive infrequently or only for short commutes.

When to drop collision and comprehensive

Collision covers damage from accidents; comprehensive covers non-collision events like theft, fire or weather damage. For older vehicles, these coverages might not be worth the cost.

You might consider dropping them if:

• The yearly cost of coverage is more than the car’s value.
• You have an emergency fund that could cover repairs or a replacement.

Factors that determine the cost of insurance for a 6-year-old used car

Buying a used car that’s 6-year-old might seem like a budget-friendly choice, but not all used vehicles are priced the same. Here are some of the factors that influence the cost of coverage:

• Type of coverage: Liability-only coverage is cheaper and covers damage to others, while full coverage adds protection for your own car. Older vehicles often qualify for liability-only coverage if their value has dropped.
• Vehicle type and safety rating: Cars with strong safety features and low repair costs are typically cheaper to insure than high-performance or expensive-to-repair models.
• Mileage and usage: Daily commuting increases risk and cost, while lower mileage and occasional use can reduce your premium.
• Driving history and location: A clean record and safe ZIP code help lower rates, but accidents, violations, or high-crime areas can drive costs up.
• Deductibles and coverage limits: Higher deductibles lower your premium but increase your out-of-pocket expenses after a claim.

When buying an older car, it’s important to look at the overall value, not just the price tag. A cheaper vehicle that needs thousands in repairs or lacks basic safety features can cost you more in the long run than a slightly more expensive one that’s been well maintained and offers better protection on the road.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.