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Cheapest Vehicles to Insure: Your Guide to Saving Money on Auto-Insurance

Updated: Oct 12, 2023

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Cheapest Vehicles to Insure

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Cheapest Vehicles to Insure: A Comprehensive Guide

Introduction

Owning a vehicle is both a privilege and a responsibility. While the thrill of the open road is undeniable, the associated costs, particularly insurance, can be a significant concern for many. Insurance premiums vary based on several factors, including the type of vehicle you drive. This article delves into the cheapest vehicles to insure, backed by data, to help you make an informed decision. If you are looking for additional tips on car insurance, check out this article.


Factors That Influence Vehicle Insurance Costs

Vehicle Type and Model

Different vehicle categories come with varying insurance costs. Here's a breakdown of the average annual insurance cost for each category:


It's essential to note that these are average figures. The specific model of the vehicle, your age, driving record, and location can influence the final insurance premium.


Safety Ratings

A vehicle's safety rating is a crucial factor that insurance companies consider. Vehicles with higher safety ratings often attract lower insurance premiums. Here's a look at some top-rated vehicles across different categories:


Honda Civic Cheap to Insure
Honda Civic Cheap to Insure

Sedans:

  • Honda Civic: Top Safety Pick+ (IIHS)

  • Toyota Corolla: Top Safety Pick+ (IIHS)

  • Mazda3: Top Safety Pick+ (IIHS)

  • Hyundai Elantra: Top Safety Pick+ (IIHS)

  • Kia Forte: Top Safety Pick (IIHS)


Toyota RAV4 Cheap SUV to Insure
Toyota RAV4 Cheap SUV to Insure

SUVs:

  • Toyota RAV4: Top Safety Pick+ (IIHS)

  • Honda CR-V: Top Safety Pick+ (IIHS)

  • Mazda CX-5: Top Safety Pick+ (IIHS)

  • Hyundai Tucson: Top Safety Pick+ (IIHS)

  • Kia Sportage: Top Safety Pick (IIHS)


Ford F-150 Cheap to Insure
Ford F-150 Cheap to Insure

Trucks:

  • Ford F-150: Good (IIHS)

  • Toyota Tacoma: Good (IIHS)

  • Ram 1500: Good (IIHS)

  • Chevrolet Silverado: Good (IIHS)

  • GMC Sierra: Good (IIHS)


Audi A4 Cheap to Insure
Audi A4 Cheap to Insure

Luxury Cars:

  • Lexus ES: Top Safety Pick+ (IIHS)

  • Audi A4: Good (IIHS)

  • BMW 3 Series: Good (IIHS)

  • Mercedes-Benz C-Class: Good (IIHS)

  • Volvo S60: Top Safety Pick+ (IIHS)


Honda Odyssey is Cheap to Insure
Honda Odyssey is Cheap to Insure

Minivans:

  • Honda Odyssey: Top Safety Pick+ (IIHS)

  • Toyota Sienna: Top Safety Pick+ (IIHS)

  • Chrysler Pacifica: Top Safety Pick+ (IIHS)

For a deeper dive into the factors affecting insurance rates and tips to find the best deals, check out this article.



Top Cheapest Vehicles to Insure

Sedans and Compact Cars

When it comes to affordability in insurance, sedans and compact cars often lead the pack. Their smaller size, combined with high safety ratings, makes them a favorite among insurance providers. Here are some of the most affordable sedans and compact cars to insure:

  • Honda Civic: A consistent top performer in safety tests, the Civic combines reliability with affordability, making it a popular choice for budget-conscious drivers.

  • Toyota Corolla: Known for its durability and longevity, the Corolla offers excellent value for money, both in terms of purchase price and insurance costs.

  • Mazda3: With its sleek design and advanced safety features, the Mazda3 offers a premium feel without the hefty insurance price tag.

  • Hyundai Elantra: This compact sedan boasts impressive fuel efficiency and a suite of safety features, contributing to its low insurance costs.

  • Kia Forte: A blend of style and safety, the Forte offers a spacious interior and modern tech, all while being easy on the wallet in terms of insurance.

SUVs

SUVs have gained immense popularity in recent years due to their versatility and spaciousness. While they might be slightly more expensive to insure than sedans, there are still several affordable options:

  • Toyota RAV4: A compact SUV with a strong safety record, the RAV4 is perfect for families and individuals alike, offering affordability without compromising on features.

  • Honda CR-V: Known for its reliability and spacious interior, the CR-V is a favorite among those seeking a balance between size and insurance affordability.

  • Mazda CX-5: With its elegant design and top-tier safety ratings, the CX-5 offers a premium SUV experience without the premium insurance costs.

  • Hyundai Tucson: A blend of style and practicality, the Tucson boasts advanced safety features that contribute to its affordable insurance rates.

  • Kia Sportage: This compact SUV combines modern design with a suite of safety features, ensuring drivers get value for their money in terms of insurance.

Trucks

Trucks are often associated with higher insurance rates due to their size and power. However, there are several models that are cost-effective to insure:

  • Ford F-150: A staple in the truck world, the F-150 combines power with safety, making it a top choice for those seeking affordability in insurance.

  • Toyota Tacoma: Known for its durability and off-road capabilities, the Tacoma also boasts impressive safety features that help keep insurance costs down.

  • Ram 1500: With its spacious interior and advanced tech, the Ram 1500 offers a blend of luxury and affordability in terms of insurance.

  • Chevrolet Silverado: A powerhouse on the road, the Silverado's strong safety record ensures that drivers don't have to break the bank when insuring it.

  • GMC Sierra: Similar to the Silverado in terms of power and safety, the Sierra is another excellent option for those seeking a balance between performance and insurance affordability.


Benefits of Choosing a Cheaper Vehicle to Insure

Financial Savings

Choosing a vehicle that's cheaper to insure can lead to significant financial savings over time. When you consider the average lifespan of a car, which is around 8-10 years, the potential savings from lower insurance premiums can amount to thousands of dollars.


Potential Savings Over Time:




Peace of Mind

There's an undeniable comfort in knowing that you're not overpaying for insurance. By choosing a vehicle that's affordable to insure, you can drive with the peace of mind that you're covered without unnecessarily straining your finances.

  • No Overpayment: Confidence in knowing you're getting the best deal.

  • Reduced Financial Stress: Less worry about monthly or annual premium payments.

  • Value for Money: Assurance that you're getting adequate coverage at a fair price.

Flexibility in Coverage Options

Opting for a cheaper vehicle to insure can also provide you with the flexibility to enhance your coverage. With the money saved on basic premiums, you might consider:

  • Comprehensive Coverage: Protection against theft, vandalism, and other non-collision damages.

  • Higher Liability Limits: Increased coverage in case of at-fault accidents.

  • Additional Riders: Coverage for rental cars, roadside assistance, and more.

Tips to Further Reduce Insurance Costs

Bundle Insurance Policies

One of the most effective ways to reduce insurance costs is by bundling multiple policies. Many insurance providers offer discounts when you combine home, auto, and other types of insurance.

Potential Bundling Discounts:

  • Home + Auto: Up to 25% off on premiums.

  • Auto + Life: Up to 20% off on premiums.

  • Home + Auto + Life: Up to 30% off on premiums.

Maintain a Good Driving Record

Your driving record plays a pivotal role in determining your insurance premiums. A clean record, free from accidents and traffic violations, can lead to substantial discounts.

Benefits of a Clean Driving Record:

  • Lower Premiums: Insurance providers view safe drivers as low risk.

  • No-Claim Bonuses: Additional discounts for not making claims.

  • Reputation: A good record can also positively impact other areas, like job applications where driving is involved.

Shop Around

Lastly, it's essential to shop around and compare quotes from different providers. Insurance rates can vary significantly between companies, and by doing some research, you can ensure you're getting the best deal.

Tips for Shopping Around:

  • Use online platforms like Insurify and SuperMoney to compare quotes.

  • Consider local and regional insurance providers; they might offer competitive rates.

  • Review and update your policy annually to account for any changes in your situation.

Conclusion

Choosing a vehicle that's affordable to insure is not just about immediate savings; it's about making a wise financial decision that benefits you in the long run. With the myriad of options available, it's essential to research and find the best fit for your individual needs. Whether you're a seasoned driver or just starting out, prioritizing affordable insurance can lead to significant savings and peace of mind. Remember, the journey to finding the perfect insurance begins with being informed, so take the time to explore, compare, and choose wisely.

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