Mitsubishi Lancer: High Insurance Costs, Worth It?

The Mitsubishi Lancer is a luxury compact sedan that was discontinued in India in 2012. However, it is still sought after in the second-hand market. The insurance costs for a Mitsubishi Lancer vary depending on factors such as the driver's age, driving record, location, and chosen insurance provider. On average, Lancer drivers pay around $210 a month for full coverage and about $96 monthly for liability-only insurance. The cost of insurance for this model is above average when compared to other vehicles, with rates approximately 17% higher than other Mitsubishi models.

Mitsubishi Lancer insurance costs

The Mitsubishi Lancer is a luxury compact sedan known for its performance and cool looks. It was launched in India in 1998 and was one of the few Mitsubishi cars that succeeded in the Indian market. The last model was sold in 2012, but the Lancer is still sought after in the second-hand market.

Insurance Costs

The cost of insuring a Mitsubishi Lancer varies depending on several factors, including the driver's age, driving record, location, and the car's make, model, and year.

According to Compare.com, Lancer drivers pay around $203 per month for insurance, on average. This includes both liability-only insurance, which averages $96 per month, and full coverage, which costs approximately $210 per month. These rates are higher than those of other Mitsubishi models and similar body-style vehicles.

The cost of insurance can also vary by state. For example, a Lancer owner in New York may pay around $226 per month for liability coverage, while a driver in California will pay less than half of that amount. Similarly, insurance rates for a 2015 Lancer in Illinois can range from $57 to $60 per month, whereas rates in Texas for the same model year can be as high as $88 to $92 per month.

Factors Affecting Insurance Costs

Several factors can influence the insurance costs for a Mitsubishi Lancer. These include:

• Driving record: Accidents and speeding tickets can increase insurance rates. Lancer drivers with one accident on their record may pay about $119 per month, while those with a speeding ticket can expect to pay around $104 per month.
• Safety features: Vehicles with safety features like anti-lock brakes, airbags, and alarms may be eligible for discounted insurance rates.
• Defensive driving courses: Taking a defensive driving class through an accredited institution can result in lower insurance premiums.
• Location: Urban areas tend to have higher insurance premiums due to the increased risks on the roads.
• Discounts: Insurance companies often offer discounts for various reasons, such as bundling policies or having a hybrid/electric vehicle.

Location-based insurance rates

The cost of insuring a Mitsubishi Lancer is influenced by several factors, including the car's make and model, safety features, and the driver's age, driving record, and location. While insurance for a Lancer is generally more expensive than for other vehicles, location-based rates can further impact the cost.

The frequency of incidents such as vandalism, theft, and natural disasters in a particular area can also affect insurance rates. For instance, Florida and Louisiana are among the most expensive states for car insurance due to their vulnerability to hurricanes and floods. Additionally, areas with high unemployment rates may have higher insurance rates, as people may be more likely to forgo insurance due to financial constraints, resulting in higher premiums for those who do have insurance.

The minimum auto insurance requirements mandated by each state can also impact location-based insurance rates. States with extensive claim requirements, such as Michigan, tend to have higher insurance rates to compensate for potential costs. Conversely, states with lower minimum-coverage requirements, like Wisconsin, often have cheaper insurance rates.

It is worth noting that while location plays a significant role in determining insurance rates, it is not the only factor considered by insurers. Other variables, such as age, driving history, and credit score, are also taken into account when calculating premiums.

Discounts and savings

The Mitsubishi Lancer is generally more expensive to insure than the average vehicle. The cost of insuring your Mitsubishi Lancer will depend on a variety of factors, including your driving record, the number of miles you drive in a year, your age, and your state. For example, the average Mitsubishi Lancer owner from New York pays around $226 per month for liability coverage, while the same driver from California will pay less than 50% of that price, on average.

• Vehicle safety features: You can often get discounts for having a vehicle with certain safety features, such as anti-lock brakes, alarms, and airbags, or one with higher safety ratings. The 2017 Mitsubishi Lancer has an overall crash-test rating of 4 stars, according to the National Highway Traffic Safety Administration, so this may help you get a discount.
• Defensive driving classes: Taking a defensive driving class through an accredited school or institution can often lead to a discount on your insurance.
• Good driver discounts: Many insurance companies offer big discounts for good drivers. Your rates will increase if you get cited for speeding or get into an accident, so maintaining a clean driving record can help you save.
• No Claim Bonus: If you have a history of not filing claims, you may be able to get a discounted premium rate at the time of renewal. For example, in India, the Insurance Regulatory and Development Authority offers up to 50% discounts on premiums for every claim-free year.
• Hybrid/EV discount: Depending on your state, you may be able to get a lower rate on your policy if you drive a hybrid or electric vehicle.
• Bundling policies: You may be able to get a discount if you bundle your car insurance policy with other types of insurance, such as renters, homeowners, or pet insurance.
• Using a driving app: Some insurance companies, like Lemonade, offer a discount if you use their driving app, which tracks your driving behaviour and can demonstrate that you are a safe driver.
• Planning ahead: Signing up for a policy before your coverage start date can sometimes lead to savings on your premium.
• Comparing quotes: It's always a good idea to compare quotes from multiple insurance providers to find the best price for your Mitsubishi Lancer insurance.

Safety features

The Mitsubishi Lancer has several safety features that can keep you protected on the road. The 2017 model has an overall crash-test rating of 4 out of 5 stars, according to the National Highway Traffic Safety Administration. The Lancer's safety features include anti-lock braking systems, alarms, and airbags.

The Lancer also has a range of active safety features that can help to prevent or reduce the severity of a crash. This includes Advanced Emergency Braking (AEB) technology, which is designed to apply the brakes when the driver cannot, particularly in higher speed zones (30-80 km/h) to avoid a crash with pedestrians and cyclists. The AEB also works at lower speeds (10-50 km/h) to reduce the severity of a crash. The Electronic Stability Control (ESC) feature automatically activates if the driver loses control of the car.

The Lancer also has lane-keeping technology, which helps prevent the car from leaving its lane, and a driver attention detection system, which warns drivers if signs of drowsiness are detected. The structure of the car and its passive safety features also help protect adult occupants in a crash, and side curtain airbags protect against head injuries.

The 2009 model has a seatbelt reminder system for the driver and passenger seats as standard equipment. The passenger compartment remained stable during a frontal impact crash test, and the knees and femurs of both the driver and passenger were well protected. The side barrier impact protection was rated as good for all body parts, although the driver's door became unlatched, and the car was penalised. The side pole test showed that the protection of the chest was weak, and protection against whiplash was rated as marginal.

Insurance groups

The Mitsubishi Lancer is a luxury compact sedan that was launched in India in 1998. It came with a 1.5-litre petrol engine and a 2.0-litre diesel variant. The Lancer was known for its cool looks and performance, and it was one of the few Mitsubishi cars that were successful in the Indian market. The last model was sold in 2012, but it is still popular among automobile enthusiasts and is often sold on the second-hand market.

The Mitsubishi Lancer ranks in the middle of a list of 360 priciest car models to insure. The average insurance cost for a Mitsubishi Lancer is $213 a month, or $2,556 a year. However, this cost can vary depending on factors such as the driver's age, driving record, location, and the number of miles driven in a year. For example, the average Mitsubishi Lancer owner from New York pays around $226 per month for liability coverage, while the same driver from California will pay less than half of that price. Similarly, insurance rates for a 2015 Mitsubishi Lancer in Illinois range from $57 to $60 a month, while monthly premiums in Texas range from about $88 to $92 for the same model.

There are a few ways to save money on Mitsubishi Lancer insurance. One way is to take advantage of discounts offered by insurance companies, such as vehicle safety discounts for cars with certain safety features or defensive driving discounts for drivers who take a defensive driving class. Additionally, some insurance companies, such as Lemonade, offer discounts for customers who use their driving app, purchase hybrid or electric vehicles, or bundle their car insurance with other types of insurance.

Frequently asked questions