Old Car Insurance Policy Online

Updated On: 2023-09-13

Author : Team Policybachat

It is a type of car insurance that is designed to cover the risks associated with driving an old car. It provides cover for the driver and passengers in case of an accident or theft. The need for car insurance is increasing day by day. It is compulsory to have car insurance in India.

Car Insurance in India has been compulsory since the Motor Vehicles Act was passed in 1988. Car insurance helps you protect your vehicle from any loss or damage that may happen due to an accident or natural calamities. Car Insurance is a form of property and casualty insurance that protects the insured from losses arising from automobile accidents, theft, fire, hail, vandalism, and other perils.

Most of the time people think of car insurance, they think of buying it for a new car. But what if you have an old car? There are some things that you need to know about old cars and their insurance in India.

  • The first thing to note is that there are different types of policies for old cars. Some cover only the cost of repairs while others cover the loss or damage to your vehicle as well. You will need this extra coverage if your car is worth more than Rs 5 lakhs.
  • The second thing to note is that most insurers do not insure cars older than 15 years. This means that if your car is older than 15 years, you will not be able to buy a policy from them or any other insurer in India.

What is Old Car Insurance?

Old Car Insurance is a type of car insurance that is specially designed for vehicles that are more than 10 years old. This type of insurance is available for all kinds of vehicles, but it may differ from one country to another. The age of the vehicle and the value of the car are two factors that determine the cost of this type of insurance. The older and more valuable your car, the higher your premium amount will be.

Car insurance is a type of insurance that covers the car and its owner against losses caused by accidents or natural disasters. When buying car insurance, drivers can choose the amount of coverage they want. The price of old cars is increasing day by day. The cost of insurance for old cars is also increasing day by day. So, it’s better to buy new cars than old cars.

Why Old Car Insurance is Important?

Insurance is important because it helps in protecting the car from any damages and also protects the person who owns the car. The old cars are usually not insured and hence they are prone to theft. This will help in reducing the risk of theft and also provide security to people who own old cars.

The cost of insurance is one of the most important factors to consider when buying a car. The older your car is, the higher the risk it will insure. This means that you need to pay more for insurance premiums. Therefore, you must buy an old car insurance policy to protect yourself against any unforeseen circumstances.

Whether it’s an old or a new car, insuring a vehicle is crucial in India. You cannot drive a vehicle on Indian roads without a valid insurance policy, and doing so will attract penalties. Now, when it comes to old cars, insurance becomes an even more critical factor. Below are the reasons for buying insurance for your old car:

  • Third-Party Liability Coverage
  • Personal Accident Coverage
  • Protects Against Risks
  • Mandatory for All Vehicles.

When dealing with old car insurance, it's crucial to pay special attention to the registration number and the registration certificate. These elements play a vital role in the process of getting car insurance transferred for vintage and classic vehicles. Ensuring the accurate documentation of the registration certificate, including any historical or special designations, is essential when transferring the car insurance to a new owner or updating coverage. This meticulous attention to detail ensures that the cherished old car is adequately protected while complying with legal requirements, providing peace of mind to both current and future custodians of these automotive treasures.

Types of Old Car Insurance Policies

An old car insurance policy, also known as old car insurance, classic car insurance, or antique car insurance, is a specialized insurance coverage designed to protect unique, vintage, and collectible automobiles. These policies are tailored to the specific needs of classic car owners and address the distinctive characteristics of vintage vehicles. While the exact definition may vary among insurers, old car insurance typically applies to vehicles that are at least 20 to 25 years old or older and meet certain criteria in terms of condition, rarity, and historical significance. Old car insurance can be categorized into several subtypes based on the age, rarity, and usage of the vintage vehicle. These subtypes include:

  • Classic Car Insurance: Classic car insurance typically applies to vehicles that are at least 20 to 25 years old and considered collectible. These cars are often well-maintained and used for occasional pleasure drives, exhibitions, or club events.
  • Vintage Car Insurance: Vintage car insurance is designed for even older vehicles, often dating back to the early 1900s. These cars may have historical significance and are usually driven sparingly, if at all.
  • Antique Car Insurance: Antique car insurance is reserved for the oldest and rarest automobiles, typically those produced before 1940. These cars are often considered valuable relics and are seldom used on the road.

The specific classification and requirements may vary among insurers, so vintage car owners must understand the distinctions and choose the appropriate type of coverage for their vehicle.

Why Old Car Insurance Is Different from Standard Auto Insurance?

Old car insurance differs significantly from standard auto insurance because it acknowledges the unique characteristics and values associated with old vehicles. The key differences include:

  • Agreed Value: Old car insurance policies often use an "agreed value" or "stated value" approach rather than "actual cash value." This means that, in the event of a total loss, the insurance payout is based on an agreed-upon value established between the insurer and the policyholder, considering the car's rarity, condition, and market value. Standard auto insurance typically uses actual cash value, which factors in depreciation.
  • Usage Restrictions: Old car insurance policies typically impose restrictions on how the vehicle can be used. Old cars are often limited to occasional pleasure drives, exhibitions, or events rather than daily commuting.
  • Valuation Expertise: Insurers specializing in old car insurance often employ appraisers and experts who can accurately assess the value of vintage vehicles, taking into account their unique features and historical significance.
  • Preservation of Originality: Classic car insurance may encourage the preservation of original parts and authenticity, offering coverage for restoration and maintenance costs.

The Importance of Valuation in Old Car Insurance

Valuation is a critical aspect of old car insurance. Vintage vehicles can appreciate over time, especially if they are well-preserved or restored to their original condition. To ensure that these vehicles are adequately protected, owners and insurers must agree on an accurate and up-to-date valuation.

  • Professional Appraisals: Many old car insurance policies require regular appraisals by professional assessors who specialize in classic vehicles. These experts evaluate the vehicle's condition, historical significance, and market trends to determine its current value.
  • Agreed Value: The agreed value, as mentioned earlier, is a crucial component of vintage car insurance. It represents the amount the insurer agrees to pay in the event of a total loss, ensuring that the owner receives fair compensation for the vehicle's worth.
  • Documentation: Owners should maintain thorough documentation of their vintage car's history, maintenance, and any modifications or improvements made. This documentation can help substantiate the vehicle's value during the claims process.

In summary, valuation plays a pivotal role in old car insurance, safeguarding the investment owners have made in their beloved vintage vehicles and ensuring that they receive proper compensation in case of damage or loss.

Coverage Options and Limitations for Old Car Insurance

Old car insurance policies come with a unique set of coverage options and limitations that cater to the specific needs of classic and antique vehicle owners. Understanding these components is essential for ensuring that your cherished automobile is adequately protected:

  • Liability Coverage: Similar to standard auto insurance, old car insurance includes liability coverage, which pays for damages and injuries you may cause to others in an accident. However, liability coverage in old car insurance often has specific limits and may vary based on the policy and the intended usage of the vehicle.
  • Comprehensive Coverage: Comprehensive coverage is essential for protecting your vintage car from non-collision-related risks such as theft, vandalism, fire, or natural disasters. Vintage vehicles are often more vulnerable to these perils due to their rarity and the potential for theft or damage during storage.
  • Collision Coverage: Collision coverage helps cover the cost of repairs or replacement if your classic car is damaged in an accident. Vintage car insurance policies may provide options to repair the vehicle with original or authentic replacement parts, ensuring the preservation of its authenticity.
  • Agreed Value vs. Actual Cash Value: One of the most critical distinctions in vintage car insurance is the method used to determine the vehicle's value in the event of a total loss. "Agreed value" policies establish a predetermined value for the classic car, agreed upon by the insurer and the policyholder. This ensures that you receive the agreed-upon amount, which is often based on the vehicle's condition, rarity, and historical significance. In contrast, "actual cash value" policies factor in depreciation, potentially leaving you with a payout that falls short of the car's true worth.

Usage Restrictions and Limitations

Vintage car insurance often imposes usage restrictions to preserve the historical value and condition of classic vehicles. These restrictions may include:

  • Limited Mileage: Many vintage car insurance policies limit the number of miles you can drive your classic car annually. This restriction encourages owners to use the vehicle for occasional pleasure drives, exhibitions, or club events rather than daily commuting.
  • Storage Requirements: Vintage cars are typically required to be stored in secure, climate-controlled environments to prevent deterioration. Policies may specify storage conditions to qualify for coverage.
  • Additional Driver Restrictions: Policies may restrict who can drive the vintage car, often limiting it to the owner and immediate family members.

Eligibility Criteria for Old Car Insurance

Old car insurance isn't available for every old car. To qualify for this specialized coverage, your vehicle typically needs to meet specific eligibility criteria, which may include:

  • Age Requirement: Vintage car insurance typically applies to vehicles that are at least 20 to 25 years old. However, the specific age requirement can vary among insurers.
  • Condition: Vintage cars should be well-maintained, in good condition, and often considered collectible or historically significant.
  • Limited Usage: As mentioned earlier, vintage car insurance is designed for vehicles used sparingly, primarily for pleasure driving or special events.
  • Appraisal: Many insurers require professional appraisals to determine the vehicle's value accurately.

Understanding these key components and eligibility criteria is crucial for vintage car owners to select the right coverage and adhere to the terms and conditions of their insurance policies, preserving the legacy and value of their beloved classic automobiles.

Tips to Save Money on Old Car Insurance

Saving money on old car insurance in India requires a combination of smart decisions and strategies. Here are some tips to help you reduce your old car insurance costs:

  • Choose the Right Coverage: Evaluate the coverage options available and select the ones that are essential for your vintage car. Consider factors like the age and condition of your vehicle when deciding on coverage types.
  • Opt for Agreed Value Insurance: Choose an agreed value insurance policy over an actual cash value policy. Agreed value policies ensure you receive a predetermined amount in case of a total loss, which is often closer to the true value of your vintage car.
  • Compare Multiple Quotes: Don't settle for the first insurance quote you receive. Shop around and compare quotes from different insurance providers to find the most competitive rates for your vintage car.
  • Maintain a Clean Driving Record: A good driving record can help you secure lower insurance premiums. Avoid accidents, traffic violations, and insurance claims to maintain a clean driving history.
  • Secure Parking: Park your vintage car in a secure and locked garage when it's not in use. This reduces the risk of theft or damage and can lead to lower insurance rates.
  • Join Vintage Car Clubs: Vintage car clubs often have partnerships with insurance companies, offering members exclusive discounts on insurance coverage. Consider joining a reputable club to take advantage of these benefits.
  • Low Mileage Discount: old cars are typically not driven as frequently as daily-use vehicles. If you drive your vintage car sparingly, inquire about low mileage discounts from your insurance provider.
  • Install Security Features: Equip your vintage car with anti-theft devices, immobilizers, and GPS tracking systems. These security features can deter theft and lead to reduced insurance premiums.
  • Regular Maintenance: Maintain your vintage car in excellent condition by performing regular maintenance and keeping detailed records. A well-maintained vehicle may qualify for lower insurance rates.
  • Bundle Policies: Consider bundling your vintage car insurance with other insurance policies like your regular auto insurance, home insurance, or health insurance. Insurers often offer discounts for multiple policies.
  • Choose a Higher Deductible: Opt for a higher deductible amount if you can afford it. A higher deductible means you'll pay more out of pocket in the event of a claim, but it can lead to lower monthly premiums.
  • Take a Defensive Driving Course: Completing a defensive driving course can demonstrate your commitment to safe driving and may make you eligible for discounts from your insurer.
  • Review Your Policy Annually: Periodically review your vintage car insurance policy to ensure it still aligns with your needs and budget. You may discover opportunities to adjust your coverage or find better rates.

Remember that vintage car insurance rates can vary significantly based on factors like the make and model of your car, its age, your location, and your driving history. By implementing these tips and exploring discounts, you can work toward obtaining cost-effective vintage car insurance coverage in India.

FAQs of Old Car Insurance in India:

How Much Is Car Insurance For A 16 Year Old?

Car insurance rates vary from one company to another. The factors that contribute to the cost of car insurance are:

  • Age of driver
  • Occupation of driver
  • The place where you live
  • The type of car you drive
  • Your driving record
  • Type of coverage you want.

Can A 26 Year Old Be On Parents Car Insurance?

In India, a 26-year-old can be on their parent’s car insurance policy. The insurance company will charge a higher premium because the risk of the driver is higher. The driver is more likely to be in a car accident and more likely to have an accident for different reasons. This also applies to someone who is under the age of 18.

How Much Insurance For A 10 Year Old Car?

Car insurance is the financial protection against the risk of a car being damaged or stolen. The price of car insurance varies depending on the type of car and the country. India has a compulsory third-party liability insurance law that requires all drivers to have at least third-party coverage.

Do I Need Collision Insurance On An Old Car?

Collision insurance is an important part of car insurance. It is the perfect protection for people who own an old car that can't be repaired easily. Car collision insurance is a protection policy that covers the cost of repairs or replacement of your car in case it gets damaged due to an accident. If you are considering buying a new vehicle, then it is highly recommended that you get collision insurance on your old car as well. This will help protect the investment you have made in your old car and also save you from any financial liability in case of an accident.

Do I Need Comprehensive Insurance On An Old Car?

If you are looking for comprehensive insurance for your old car, then the answer is yes. Comprehensive insurance is an insurance policy that covers damages to your car caused by accidents or natural disasters.

While comprehensive insurance is not mandatory in India, it still provides great benefits to the owner of the car. The policy protects against all risks and pays for damages regardless of who was at fault.

Can I Buy New Insurance for 15 Year Old Car?

Buying a car is a big decision. And it's an even bigger decision if you're buying an old car. The reason for this is that you'll have to buy insurance as well, and the cost of insurance can be high for old cars. If you're considering buying a 15-year-old car, then here are some things to consider before making your purchase.

The first thing to think about is your budget and what type of coverage you want. You should also consider the cost of insuring the vehicle and how much that will affect your budget. You should always make sure that you have enough money set aside for all of these expenses before making any purchases.


In the age of digital convenience, the landscape of old car insurance has transformed, offering vintage car enthusiasts a seamless and accessible way to protect their cherished treasures online. As we conclude this exploration of old car insurance policies in the digital realm, it's evident that the specialized coverage required for classic and antique vehicles is now just a click away. With the ability to research, compare, and purchase old car insurance online, owners can safeguard their automotive legacies more efficiently than ever before. By leveraging the power of technology and the expertise of insurers specializing in vintage vehicles, enthusiasts can ensure that their beloved classics are not only preserved but also protected for generations to come, with a few keystrokes and the assurance of comprehensive online old car insurance.

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