The cheapest cars to insure are largely SUVs and midsize vehicles. A 2020 Insure.com study pulled together a comprehensive list of the top 20 least expensive cars to insure.
Anything on this list is a good option if you’re looking for cheap car insurance, with only a $92 difference between the cheapest car and number 20.
|Make and Model||Average Annual Cost to Insure|
|1.||Mazda CX-3 Sport||$1,324.00|
|2.||Honda CR-V LX||$1,333.00|
|3.||Wrangler Sport S||$1,334.00|
|4.||Subaru Outback 2.51||$1,335.00|
|5.||Fiat 500X Pop||$1,336.00|
|6.||Honda Odyssey LX||$1,353.00|
|7.||Subaru Forester 2.5l||$1,373.00|
|9.||Jeep Renegade Sport||$1,374.00|
|10.||Honda HR-V LX||$1,377.00|
|11.||Honda Fit LX Sensing||$1,379.00|
|12.||Jeep Compass Sport||$1,392.00|
|14.||Ford Escape S||$1,397.00|
|15.||Chrysler Pacifica Touring||$1,403.00|
|16.||Buick Encore Preferred||$1,403.00|
|17.||Hyundai Tucson SE||$1,403.00|
|19.||GMC Savana G2500 LS||$1,413.00|
|20.||Chevrolet Express G 2500 LS||$1,416.00|
|21.||Honda Pilot LX||$1,416.00|
|22.||Dodge Grand Caravan SE||$1,416.00|
Another key takeaway from this list is that Honda appears to be leading the pack even though it didn’t take the number one spot. Five of its models got into the top 20, three of which were in the top 10. Honda’s safety features continue to impress insurance companies year after year.
Lastly, the average annual insurance rate has risen to $1,904.00, which is a $92 increase from last year. However, this 5 percent increase is expected and in line with previous years.
Top 5 most expensive cars to insure
If you’re looking for the cheapest cars to insure to keep your budget in line, there are some cars you need to avoid. The same 2020 Insure.com study from above pulled together a list of the most expensive cars to insure. Coming in number one was the Mercedes AMG GT R, with an average annual cost to insure of $4,082.00. At number 20 was the Jaguar XF Sportbrake Prestige with an average insurance cost of $3,425.00.
Here are the top five most expensive vehicles to insure:
|Make and Model||Average Annual Cost to Insure|
|1.||Mercedes AMG GT R||$4,082.00|
|2.||Audi R8 5.2L V10 Quattro Performance||$4,033.00|
|4.||BMW M8 M8 Competition XDrive Convertible||$3,953.00|
|5.||Mercedes S65 AMG||$3,911.00|
What factors into the cost of my insurance
There are a number of factors that determine your insurance premiums besides the car you drive. Some other factors include:
- Driving history
- Driving activity
- Vehicle size
- Vehicle safety rating
- Anti-theft/safety devices
- Where you live
- Age, gender and marital status
- Credit history, in some places
Your policy options will play a significant factor in your premiums as well. For example, the higher your deductible, the lower your insurance premiums. You may have a maximum limit on what your deductible can be depending on your auto lender. Double check so you compare insurance policies wisely.
Cars to avoid for cheap insurance
The most expensive cars to insure are all sports and luxury cars. Smaller cars typically have the cheapest insurance. That has a lot to do with safety ratings for smaller vehicles. Some cars to avoid if you’re looking for the cheapest cars to insurance companies include:
- High-end, luxury cars
- Sports cars
- Exorbitantly expensive cars
- Cars with specialty parts
- Vehicles with low safety ratings
Frequently asked questions
What is the cheapest car to insure?
The cheapest car to insure is the Mazda CX-3 Sport, but your insurance will vary depending on your driving record as well as your personal information. Get multiple quotes so you can see which is the cheapest for you.
How does car make and model impact your car insurance rates?
The type of car you drive may be indicative of your driving style, and it’s certainly indicative of the level of safety you want to have while driving. Luxury and sports cars tend to have higher insurance rates than midsize SUVs, which tend to rate higher on safety scales.
What else impacts your car insurance rate?
Your driving record and, in some states, your credit history, will all impact your car insurance rates. When looking for the cheapest car insurance rates, it’s a good idea to stick with one of the top 20 so you’ll have lower insurance premiums.
Can I get cheap insurance if I’ve had an accident?
Yes, depending on who is at fault and how much damage was done, you may still be able to get cheap car insurance, especially if you drive a vehicle from our top 20 list. Complete a defensive driving course and ask your car insurance company about discounts you can get to help lower your rates after an accident. Additionally, many insurance companies offer accident forgiveness for first time accidents if your driving record is otherwise clean.
Can I get cheap insurance if I’ve had a ticket for no insurance?
This will depend on a number of factors, and driving a car with cheap insurance rates will definitely impact the insurance rates you receive after driving with no insurance. Talk with several insurance providers to get the best quote for you. Most insurance companies like to see continuous coverage, and if they see there was a period of time where you didn’t have insurance, they will consider you more of a risk compared to other drivers.