10 Cheapest Cars to Insure in 2022
The cheapest cars to insure are the Subaru Forester, Dodge Grand Caravan and Honda Odyssey, according to Wallethub’s analysis of 26 popular vehicles.
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cheaper cars to insure
- subaru forester ($1774 a year)
- dodge grand caravan ($1,786/year)
- honda odyssey ($1,800 annually)
- ford escape ($1877 a year)
- toyota sienna ($1966 a year)
- toyota highlander ($1978 a year)
- toyota tacoma ($1989 a year)
- jeep grand cherokee ($1999 a year)
- chevrolet tahoe ($2,006 annually)
- nissan versa ($2,011 annually)
Comparing cars based on expected insurance costs is important for anyone shopping for an affordable vehicle, as the difference in annual premiums between the cheapest and most expensive cars to insure could be as high as $1,500 by year. In other words, the car with the lowest selling price might not be the cheapest overall, all things considered.
Reading: What cars are cheap for insurance
cheaper cars to insure by model
wallethub editors analyzed insurance premiums on some of the best-selling vehicles of the last 10 years and provided rankings of the cheapest cars to insure by car type, make and model.
In the following sections, you can learn more about our findings and why some cars cost more to insure than others. You can also see how we got our pricing data in the methodology section at the bottom of the page.
cheapest cars to insure by brand
no wonder nissan, honda and toyota are in the top three. Cars from these manufacturers have received consistently high ratings for vehicle safety over the years. All three brands are well represented in the Insurance Institute for Highway Safety (IIHS) Top Safety Picks for 2019.
cheapest cars to insure by type of car
When most drivers think of their dream cars, the trusty minivan may not be the first vehicle to pull up to the curb. after all, minivans are for transporting children and groceries. But here’s why minivans are the cheapest type of car to insure: They’re not exactly designed for impromptu neighborhood drag races. Minivans are popular with families due to their general safety, and insurance companies consider these vehicles less risky to insure, since people with loved ones in the car are less likely to engage in risky behavior on the road.
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Within the minivan category, the Dodge Grand Caravan is the cheapest minivan to insure with an average annual premium of $1,786. The list below also provides a quick look at the cheapest SUVs, trucks, sedans, and crossovers to insure.
why vehicle type affects car insurance rates
Car insurance premiums are determined by a number of factors, including your age, driving experience, where you live, and the type of car you drive, among other things. These details help companies assess the risk of insuring you and your vehicle. higher risk means higher premiums. When an insurance company examines the vehicle you drive, it takes into account the car’s overall safety ratings, potential repair costs, and relevant historical trends such as claims and theft rates for the particular make and model. /p>
In general, cars with poor safety ratings, high repair costs, and a high rate of insurance claims (ie, for accidents, theft, etc.) can expect higher insurance premiums. A poor vehicle safety rating is important because it means the driver and passengers are more likely to be seriously injured in the event of an accident, likely resulting in more expensive personal injury or medical claims.
The accessories of your vehicle are also taken into account in the calculations of risk and premiums of the insurer. Vehicles equipped with upgraded features like four-wheel drive and larger engines are more expensive to insure because they cost more to repair.
5 tips to choose the cheapest car to insure
1. avoid ultra luxury cars
High-end vehicles, whether large or midsize, are among some of the most expensive cars to insure because of their value. According to the Insurance Institute for Highway Safety (IIHS), the cars with the highest comprehensive insurance losses include luxury brands like Bentley, Mercedes-Benz and BMW. And according to WalletHub’s own analysis, someone who drives a Lexus can pay up to $1,000 more in annual insurance premiums compared to someone who drives a Nissan.
2. don’t buy the newer model
Newer models command higher premiums, simply because they are worth more. Wallethub’s research found that buying a $36,000 vehicle could mean paying $1,000 more in annual insurance premiums, compared to buying and insuring a vehicle worth only $9,000.
3. stay away from sports cars
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Sports cars are traditionally more expensive to insure due to their high-performance engines and other features designed for speed, making them more accident-prone. According to the IIHS database, sports cars such as the Lamborghini Huracan and the Maserati GranTurismo are among the vehicles with the highest collision losses.
4. rethink hybrids
Hybrid vehicles tend to be more expensive to insure because they have a higher retail price than conventional vehicles. Hybrid vehicle parts are also more expensive to repair and replace. Take the hybrid battery in a Toyota Prius as an example: it can cost between $2,200 and $2,600 to replace, not including labor costs.
5. watch out for models popular with thieves
Not surprisingly, vehicles that are attractive to car thieves can expect higher insurance premiums. The top 5 most stolen vehicles are the Honda Civic, Honda Accord, Ford Pickup, Chevrolet Pickup, and Toyota Camry, according to the National Bureau of Insurance Crime.
There are many ways to save on car insurance. But as you can see, buying the right kind of car is one of the most important.
video: cheaper cars to insure
wallethub compiled quotes for 26 of the most popular vehicles on us roads. uu. from 10 of the major auto insurance companies: state farm, geico, progressive, allstate, liberty mutual, farmers, national, american family, travelers, and kemper.
wallethub chose to collect quotes for the state of california, as it is the most populous state in the country. Annual premiums for vehicles in our ranking are based on their 2014 model year.
wallethub chose not to pull quotes for current 2022 models as we realize not everyone chooses a current year model when buying a car. In fact, in any given year, used car sales are nearly double new car sales. In addition, a 2014 model year vehicle is a better choice for collecting and comparing insurance quotes because it has had time to depreciate but is still new enough to warrant purchasing full coverage insurance.