How does vehicle insurance work as my vehicle ages?

Lacey: How does vehicle insurance work as my vehicle ages?
For example, I purchased a 2007 Monte Carlo in 2008. Obviously, being a sportier car insurance isn’t the cheapest. My insurance has been $ 420 every six months since I got it. My question is, as this car ages will my insurance company start to decrease the price as the vehicle’s value goes down? Is this something I have to request (like a “refinance” my policy situation)? Something that happens naturally?
I plan to keep this vehicle. It’s just an example.

Answers and Views:

Answer by 300SD
no the price you pay for insurance will not go down. the amount the insurance company will pay you for the car will go down as it ages tho. you will see price decreases over time because insurance rates go down the older you get and the longer you go without any claims. after a certain age it is not worth paying for full coverage and would probably be best to get minimum coverage as the value of the vehicle is no longer worth the PREMIUM of full coverage.

Answer by NeoArcane
As you age (not the car) and you “prove” your driving skill to the insurance company, the actuarial tables will reduce your base rate. However, the vehicle’s popularity then starts coming in to play as it gets older and older. if a LOT of them were sold, then there are many parts available, so the cost of a repair remains lower, so the insurance can remain low. if not many were sold, then the parts are harder to get, and the cost of a repair goes up… so then you have to decide (with help from your agent) as to how much insurance to carry in case of wanting a collision repair. it is all a gamble, with many variables to consider. My insurances on my vehicles range from $ 200/yr to $ 1200/yr.

Answer by pedro7of9
yes ask..tell thm your gona check ther co’s [and do check others] insurance co’swill keep charging you what u started at or even go up…it pays to talk to them.