Vehicles With Lower Insurance Rates

When it comes to insurance, some vehicles are more wallet-friendly than others. Factors such as repair costs, safety ratings, likelihood of theft, and vehicle type all play a role in determining insurance rates. So, which cars are the cheapest to insure?

The Subaru Outback is a consistent contender for the cheapest car to insure, with insurance costs averaging around $1,603 per year. The Honda CR-V and Honda Pilot are also budget-friendly options, with the Honda CR-V being one of the least expensive cars to insure among popular 2021 vehicle models. The Jeep Wrangler Sport and Subaru Crosstrek are additional affordable options, with the Jeep Wrangler also making the list for cars with low insurance rates.

When it comes to sedans, the Toyota Corolla takes the top spot for the cheapest insurance rates. For trucks, the Ford F-150 wins for the most affordable insurance option.

It's worth noting that insurance rates can vary based on location and personal factors such as age, gender, and driving record. However, choosing a vehicle with good safety ratings and modest performance can significantly impact insurance premiums over time.

Cheapest cars to insure in 2024

The make and model of your car can have a significant impact on your insurance costs. When determining your insurance premium, insurance companies take into account the risk of claims being made and the potential severity of those claims. So, if you're looking to save money on insurance, it's worth considering a vehicle that is typically cheaper to insure. Here are some of the cheapest cars to insure in 2024:

Subaru Outback

The Subaru Outback is one of the cheapest cars to insure, with an average annual insurance premium of $1,603. This is significantly lower than the national average of $2,014 per year for full coverage. The Subaru Outback also has excellent safety ratings and was named a Top Safety Pick by the Insurance Institute for Highway Safety (IIHS) in 2024.

Honda CR-V

The Honda CR-V is another vehicle that is typically inexpensive to insure. It was named one of the least expensive cars to insure among popular 2021 vehicle models.

Subaru Forester

The Subaru Forester is also a great choice for cheap insurance, with an average annual insurance premium of $1,035 through Nationwide. The Subaru Forester has excellent safety ratings and is a compact SUV, which tends to be a cheaper type of vehicle to insure.

Honda Pilot

The Honda Pilot is another SUV that is generally cheap to insure, with an average insurance rate of $1,726 per year.

Ford Escape

The Ford Escape is another affordable option, with an average insurance cost of $1,734 per year.

Other Honourable Mentions

Other vehicles that tend to have low insurance costs include the Jeep Wrangler, GMC Sierra 1500, Toyota RAV4, and Nissan Rogue.

It's important to remember that insurance rates can vary based on personal factors such as age, gender, location, and credit score. Additionally, insurance companies have different ways of calculating rates, so it's always a good idea to shop around and compare quotes from multiple providers.

Cheapest SUVs to insure

When looking for the cheapest SUV to insure, it's important to note that the cost of insurance doesn't always depend on the type of SUV. While larger SUVs and trucks are generally more expensive to insure, smaller crossover SUVs have some of the cheapest insurance rates, even beating out compact cars.

The cheapest SUV to insure is the Subaru Outback, which costs an average of $1,851 a year to insure. This is 25% cheaper than the overall average SUV insurance cost of $2,478 a year. The Subaru Forester and Mazda CX-5 are also among the cheapest SUVs to insure, with average insurance costs of $1,887 and $1,895 per year, respectively. These smaller SUVs are not only cheaper to insure but also have lower base prices.

Other SUVs that are relatively inexpensive to insure include the Honda CR-V, Chevrolet Trailblazer, Honda HR-V, and Kia Seltos, all of which have average insurance costs of less than $2,000 per year. The Honda CR-V, in particular, stands out as it is the cheapest SUV to insure according to ValuePenguin, with an average insurance cost of $2,346 per year.

To save money on SUV insurance, consider the following tips:

• Shop around and compare costs from different insurance companies.
• Check for discounts such as bundling your SUV insurance with home or renters insurance.
• Choose the right coverage by selecting only the types of insurance you need and skipping those you don't.
• Avoid purchasing the most expensive trim levels, as the add-ons in higher trims can increase the overall insurance costs.
• File your claims wisely and consider paying for minor damages out of pocket to avoid increases in your insurance costs.

Cheapest trucks to insure

If you're looking for an affordable truck to insure, you're in luck! Trucks tend to be cheaper to insure than cars, and there are a variety of options available that won't break the bank. Here are some of the cheapest trucks to insure, along with some additional information to help you make an informed decision:

Ford Maverick

The Ford Maverick is consistently ranked as one of the cheapest trucks to insure. With an average annual premium of around $1,746, it offers a great balance of features and affordability. The Maverick received high marks for safety from the Insurance Institute for Highway Safety and four out of five stars from the National Highway Traffic Safety Administration. It also offers impressive off-road performance, a 1,500-2,000-pound towing capacity, and a hybrid drivetrain option. However, critics have noted that the ride can be bumpy, and the interior could be more comfortable.

Ford Ranger

The Ford Ranger is another excellent option for those seeking cheap insurance rates. With an average annual premium of around $1,864, it's only slightly more expensive than the Maverick. The Ranger received top safety ratings from both the IIHS and the NHTSA. It offers impressive towing capabilities and a twin-turbocharged engine. Additionally, it features the Sync 4A system, which includes Wi-Fi, navigation, wireless charging, and a 360-degree camera system. However, some reviewers have noted that the ride can be a bit bumpy on uneven pavement.

Nissan Frontier

The Nissan Frontier offers a standard V6 engine, a technology package with blind-spot monitoring and rear parking sensors, and reasonable fuel economy. With an average annual premium of around $1,885, it's an affordable option for truck owners. The Frontier received a four out of five-star overall rating for safety from the NHTSA. However, some critics have noted that the driver's seating could be more comfortable, and the steering may feel overly heavy.

Toyota Tacoma

The Toyota Tacoma is known for its tough and well-built structure, providing excellent off-road performance and traction over challenging terrain. It comes standard with driver-assistance features such as forward-collision and lane-departure warning technology. With an average annual premium of around $1,917, it's a reliable and affordable option. However, some reviewers have mentioned that the steering can feel slow, and the braking could be improved.

Hyundai Santa Cruz

The Hyundai Santa Cruz is an excellent choice for those seeking SUV comfort in a pickup truck. It offers a hybrid option, improving its fuel economy, and comes standard with safety features such as monitoring, warnings, braking, lane-assist, and a semi-autonomous driving system. With an average annual premium of around $1,941, it's a feature-rich and affordable option. However, some reviews have noted that the standard version has mediocre fuel economy and compromised rear visibility.

When choosing a truck to insure, it's important to consider your needs, budget, safety ratings, and the features that are most important to you. Additionally, don't forget to shop around and compare insurance rates from multiple providers to get the best deal.

What makes a vehicle expensive to insure?

Several factors determine the cost of insuring a vehicle. One of the most significant factors is the risk associated with the vehicle, which includes the likelihood of accidents, the cost of repairs, and the safety features available.

Vehicles with high-performance capabilities, such as sports cars, tend to be more expensive to insure due to their potential for high speeds and the tendency of their drivers to be young and inexperienced, resulting in higher collision risks. Similarly, luxury vehicles and electric cars are costlier to insure because of their high repair costs and expensive replacement parts. The make and model of a vehicle also play a role, as some models have higher claim frequencies and more expensive parts than others.

The age of a car is another factor, as older vehicles may lack modern safety features, making them cheaper to insure. However, they may also have higher repair costs, which can increase insurance rates. The size and weight of a vehicle matter, too, as larger and heavier vehicles can cause more damage in an accident, leading to higher insurance premiums.

Additionally, the trim level and any additional features can affect insurance rates. Vehicles with upgraded features tend to have higher purchase prices and insurance rates. On the other hand, cars with safety features like blind-spot monitors and anti-theft systems often have lower insurance premiums because they reduce the risk of accidents and theft.

Other factors that influence insurance rates include the driver's age, driving record, credit score, location, and chosen coverage. While the vehicle itself is a significant factor, these personal factors can also substantially impact the cost of insurance.

Vehicles with more expensive car insurance

Several factors determine the cost of insuring a vehicle, including the age of the car, safety features, security features, repair costs, and the likelihood of theft. Vehicles that are more expensive to repair or replace tend to have higher insurance premiums. This includes luxury vehicles, cars with high-tech safety features, and vehicles with specialty parts that are difficult to obtain.

• Sports Cars: Sports cars are designed for speed and performance, which increases the risk of accidents and reckless driving. They often have expensive parts that drive up repair and replacement costs.
• Luxury Vehicles: Luxury and high-end cars are usually more expensive to insure due to their higher repair and replacement costs. The higher the value of the vehicle, the higher the insurance rate.
• Electric Vehicles (EVs): Electric cars tend to be more expensive to insure due to their higher purchase price and the cost of repairing or replacing batteries.
• High-Performance Vehicles: Cars with powerful engines and high-performance capabilities often fall into a higher insurance category due to the increased risk of accidents and speeding.
• Cars with Poor Safety Ratings: Vehicles with a history of accidents or low safety ratings may have higher insurance rates as they are perceived as riskier by insurance companies.
• Frequently Stolen Vehicles: Cars that are commonly targeted by thieves will likely have higher insurance premiums. This is because insurance companies factor in the increased risk of theft when calculating rates.

It's important to note that insurance rates can vary based on personal factors such as age, gender, location, and driving record. Additionally, different insurance companies may rate vehicles differently, so it's always a good idea to shop around and compare quotes to find the most affordable coverage for your specific situation.

Frequently asked questions