Looking for a lower car insurance rate?
Of course we all want a good deal on car insurance, but often getting the best price hinges on something other than your driving record, age, gender, or where you live. It actually starts the moment you begin researching which car to buy. Certain cars are simply cheaper to insure than others. That’s a fact you can’t escape, but which will give you the least amount of pain come time to send in that premium payment?
We have a list of the 10 cheapest cars to insure…and a few of the most expensive
Larger family vehicles tend to be cheaper to insure. According to Auto Guide, “Not only are crossovers and SUVs popular among families for offering plenty of utility…they’re also some of the cheapest cars to insure.”
Jeeps of all kinds do extremely well in the insurance department (except for one model). So do Subarus. These are average premiums according to AutoGuide.com. Of course, different areas of the country will have significantly different rates.
Subaru Forester 2.5i – Average Annual Premium of $1,196
Jeep Patriot Sport – Average Annual premium of $1,190
Buick Encore – Average Annual Premium of $1,190
Jeep Cherokee Sport – Average annual premium of $1,188
Subaru Outback 2.5i – Average annual premium of $1,187
Jeep Compass – Average annual premium of $1.183
Honda CR-V LX – This is Honda’s popular crossover vehicle, with an average annual premium of $1,170
Jeep Wrangler Black Bear – Average annual premium of $1,148
Jeep Renegade Sport – Jeep’s baby crossover, with an average annual premium of $1,138
#1 Honda Odyssey LX – When it comes down to it though, crossovers and SUVs come up short (or high) when compared to Honda’s minivan. It has an average annual premium of $1,112
Cheaper to insure also says something about the driver’s profile
Is it a coincidence that the cheapest cars to insure are mostly family vehicles that have a lot of extra safety features and technology? In a word…no. According to The Balance, “Family type cars are potentially driven by people who may be more cautious because they have young kids and are living a certain kind of lifestyle.” In other words, if it’s a mom or dad taking kids to school, she or he will naturally drive differently than a 25-year-old single guy.
It’s not just the cost of insurance
A lower premium to insure your vehicle is a good thing, but that might not be the only way you’ll end up saving money. According to The Balance, “The information used to determine the cheapest cars to insure can often also be a good indicator of the cheapest cars to maintain and service.”
A rate might also indicate other potential problems with certain vehicles, such as a rise in thefts or repair costs. If certain models see a spike in claims, it is noted and often reflected in rate increases.
Cars that can hurt your wallet
The above cars might not always give you a thrill when you slide into the driver’s seat, but sometimes savings have to come before style. Choosing these other types of vehicles can mean a significant increase in insurance costs.
High-cost sports cars – Mostly younger drivers who tend to get in more accidents = higher premiums
High-end luxury cars – So expensive to repair that insurance companies often have to replace them if the car is totaled.
Large vehicles – Yes, crossovers and smaller SUVs are cheap to insure, but the larger versions can cause more damage to other vehicles and people in both cars.
Cars targeted for theft – There are certain cars that thieves just love, which means your insurance company has to replace your car if it’s stolen. They include: Honda Accord, Honda Civic, Ford pickup, Chevy Pickup, Toyota Camry, Nissan Altima, Dodge Pickup, Toyota Corolla, Chevy Impala and Jeep Cherokee/Grand Cherokee
Here is a list of cars that are the most expensive to insure:
Audi R8 5.2L VL Quattro
Nissan GT-R NISMO
Maserati Quattroporte GTS
Dodge Viper GTS
…Almost anything by Mercedes-Benz
Why does a car’s model matter anyway?
Of course, your heart may rev faster for a sports car; something flashy that satisfies your need for speed. This desire could hurt you in the end. Why? According to NerdWallet.com, “Car insurance companies price policies based on the risk you and your vehicle present. So, part of pricing includes vehicle claim histories. This indicates which ones have the most accidents and highest rates of car theft. Higher risk means higher car insurance rates.”
Keep these facts in mind while searching for your next car. And if you need a consultation or you have questions about auto or any of your insurance needs, contact Avante Insurance today.
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