Just like your location and driving history, your car’s make and model affects your car insurance premium — sometimes significantly. On average, BMW 880i drivers spend $2,225 per year on full coverage auto insurance, while Jeep Wrangler drivers spend $1,358, according to 2021 premium data from Quadrant Information Services. The difference in car insurance by make and model may seem arbitrary, but is based on a model used by car insurance companies to evaluate vehicles and their insurable risk.
Even the best car insurance companies may charge higher premiums to insure vehicles based on a vehicle’s make and model. Below, Bankrate’s editorial team breaks down why and how your car’s make and model affect your insurance premium – and how to find cheap car insurance for any vehicle.
Why some makes and models cost more than others
The make of a car is the manufacturer who makes it, like Chevrolet or Ford. The model is the specific vehicle you choose from that manufacturer’s lineup. For example, if you are looking for a truck, Chevrolet offers the Colorado and Silverado, while Ford offers the Ranger and F-series from F-150 to F-750.
When getting an insurance quote for your car, it is not enough to just provide the make and model of the vehicle. Manufacturers offer different trim packages for each model with unique offerings for each package option. The features and equipment offered in the trim packages will affect the cost of car insurance, which is why it is important to provide the vehicle identification number (VIN) and as much information as you can provide about the vehicles, like safety features and options.
Insurance companies offer rates based partly on if a car is a standard, sport or luxury trim option. Body style is another detail used by car insurance companies to determine costs because it can affect the size of a vehicle, crash rating, passenger safety and the cost of the parts required for repair. Common body styles include:
The more features included to drive up the cost of a vehicle, the more you may pay for car insurance. Rates are based on how much it costs to fix a vehicle. The more expensive it is to fix, the more you will pay for auto insurance.
Car insurance averages by make and model
In the table below, you can see several manufacturers and models they offer. The average rates are annual premiums for full coverage and state minimum insurance. Your rate may be higher or lower based on your driving history, where you live and the type of coverage you need.
|Model||Average annual full coverage premium||Average annual minimum coverage premium|
|Dodge Grand Caravan||$1,623||$503|
|Dodge Ram 1500||$1,697||$527|
|GMC Sierra 1500||$1,555||$503|
|Jeep Grand Cherokee||$1,531||$516|
|KIA Forte LX||$1,682||$544|
How to get car insurance estimates
To get an accurate auto insurance estimate, follow these car shopping steps:
- Narrow down your vehicle choices: Before you start test driving cars, determine what your needs are. Can you get by with a coupe or do you need a sedan or something larger to accommodate your family? Do you need a truck to haul materials or for towing capacity? Once you determine your needs, the next step is narrowing down your car choices. If you are not brand loyal, consider all makes and models based on your needs and important features.
- Decide how much coverage you need: With a new car, you will most likely want comprehensive and collision coverage. If you are financing your vehicle, your lender will likely require you to purchase full coverage insurance. Consider your individual circumstances to determine which level of coverage will make you the most comfortable. At this stage, talking with an insurance agent can be helpful.
- Get quotes with the same coverage: Now that you have narrowed down your make and model and determined your coverage needs, it is time to get quotes. Getting multiple quotes from different car insurance companies with the same coverage options can help you make a decision so that you can make a fair comparison.
Other factors that influence your car insurance rate
The make and model of the car you buy are not the only criteria auto insurance companies use to determine your rate. Other factors include:
- Coverage: The type of coverage you choose and the deductible amount will also influence how much you pay for car insurance. This can include liability coverage, which covers the other party if you were found at-fault in an accident, as well as optional coverage options like medical payments, comprehensive coverage and collision coverage to offer financial protection for your and your vehicle. The more coverage selections you have, as well as the higher their monetary limits, the more you will pay for insurance.
- Location: The state you live in and, in most cases, the ZIP code that you live in, matters when it comes to car insurance costs. Geo-specific crime rates, population density and crash statistics are considered in setting premiums.
- Personal information: Your age, gender, marital status, credit score and driving history can be used to determine your rate in most states. If there are other drivers in the household, their information matters, too. Keep in mind that Hawaii, California, Massachusetts, Michigan, Montana, North Carolina and Pennsylvania prohibit the use of gender to determine car insurance rates. In addition, the following states ban or restrict the use of credit score to determine car insurance premiums: California, Hawaii, Maryland, Massachusetts, Michigan, Oregon and Utah.
- Your car insurance history: Maintaining continuous insurance can help keep your car insurance costs low. Lapsing insurance, filing claims and the length of time you have been insured with a carrier also make a difference.
How to save on car insurance
Employing money-saving strategies when purchasing a new car is a great way to stay on budget. One way to save is considering the make and model you choose. Here are a few more ways to save on car insurance:
- Ask about discounts. Insurance companies offer discounts as a way to lower car insurance prices. Most can be stacked together to maximize savings, so make sure you ask about any you are eligible for to get the best car insurance estimate.
- Be a safe driver. People with good driving habits tend to get into less accidents and avoid getting tickets, which can make you eligible for additional discounts and keep rates low.
- Consider increasing deductibles. Increasing your deductible can help you save on your premium and prevent you from making small claims, which could affect your car insurance costs. The higher your deductible, the lower your premium. Before adjusting your deductible, keep in mind that this is what you will be responsible for out of pocket in the event of a claim.
- Pay in full. Some car insurance companies offer a discounted rate if you pay the premium in full rather than in monthly installments.
- Shop around. Even if you get quotes for the same coverages, you will likely get a different price for car insurance from each company. Carriers have their own formulas to create rates, so one may be more expensive than the other for the same coverage selections.
Frequently asked questions
Which car model has the cheapest insurance?
Of the cars Bankrate analyzed, Jeep Wrangler drivers scored the cheapest annual full coverage insurance premiums on average. However, you can find competitive insurance premiums for countless other vehicle models, especially if you request a car insurance quote from multiple companies. Keep in mind that luxury cars typically cost more to insure than more basic models due to higher repair and replacement costs.
Which car insurance company is the cheapest?
The cheapest car insurance company will vary on individual factors such as your credit score, age, location and vehicle make and model. To find the cheapest car insurance, you may want to compare quotes from several providers and research company discounts. Car insurance providers generally offer substantial discounts for safe drivers, students, teachers, loyal customers, those who bundle their policies and more.
How much does car insurance cost?
The national average cost for full coverage car insurance is $1,674 per year. However, the actual car insurance premium you will pay varies based on countless factors such as driving history, claims history and vehicle make and model. The best way to gauge how much car insurance will cost for you is to obtain quotes from multiple insurance companies and ask about discounts that you could qualify for.
Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2019 Toyota Camry, commute five days a week and drive 12,000 miles annually.
Model: To determine cost by vehicle type, we evaluated our base profile with the following vehicles applied: BMW 330i, Ford F-150, Honda Odyssey, Toyota Prius and Toyota Camry (base). For new vs used vehicles, we also included the following years in our calculations: 2016, 2017, 2018, 2019 (base) and 2020.
These are sample rates and should only be used for comparative purposes.