Most And Least Expensive Vehicles To Insure 2024

Most And Least Expensive Vehicles To Insure

Most And Least Expensive Vehicles To Insure When it comes to car insurance rates, the type of vehicle you drive can have a significant impact on your premiums. We analyzed the average auto insurance rates for over 50 of the most popular vehicles to determine which ones are the most and least expensive to insure. Factors such as the make and model of your vehicle, its safety features, and its likelihood of theft or damage can all influence your insurance rates. For instance, a luxury sports car will likely have higher premiums than a standard sedan due to its higher value and increased risk of accidents. Similarly, a vehicle with advanced safety features like anti-lock brakes and airbags may be cheaper to insure than one without them. Ultimately, it’s important to consider the potential insurance costs when choosing a new vehicle to ensure that it fits within your budget.

Most And Least Expensive Vehicles To Insure

When it comes to insuring your vehicle, the cost can vary depending on several factors including the make and model of your car. In 2024, some of the most expensive vehicles to insure are luxury and sports cars, as they tend to have higher repair costs and are more likely to be targeted by thieves. On the other hand, some of the least expensive vehicles to insure are typically SUVs and minivans, as they are generally considered safer and have lower repair costs. It’s important to keep in mind that insurance rates can also be influenced by factors such as your driving record, location, and age, so it’s always a good idea to shop around and compare quotes from different insurance providers to find the best coverage at an affordable price.

The Least Expensive Cars to Insure

When it comes to insuring popular vehicle models of 2021, the Honda CR-V, Jeep Wrangler Sport, and Subaru Crosstrek come out on top as the least expensive options. These vehicles have a reputation for being reliable and affordable to maintain, which likely contributes to their low insurance rates. It is worth noting that insurance rates can vary based on factors such as location, driving record, and coverage level, so it is important to compare quotes from multiple providers before making a decision.

Vehicle Average Annual Premium
Honda CR-V LX $1,574
Jeep Wrangler JL Sport $1,585
Subaru Crosstrek $1,606
Subaru Forester 2.5I $1,613
Hyundai Tucson SE $1,637
Jeep Compass Latitude $1,645
Chevrolet Equinox L $1,661
Ford Escape S $1,663
Volkswagen Tiguan SE $1,663
Ford F-150 XL $1,672
Chevrolet Trax LS $1,680
Toyota Tacoma SR $1,688
Toyota RAV4 LE $1,704
Kia Sportage EX $1,705
Dodge Grand Caravan SE $1,713
Ford Edge SE $1,722
Mazda CX-5 Grand Touring $1,729
Chevrolet Traverse LS $1,733
Chevrolet Colorado $1,733
Ford Ranger Lariat $1,748
Toyota Highlander LE $1,757
Nissan Rogue S $1,758
Honda Pilot SE $1,762
GMC Canyon All Terrain $1,777
Subaru Outback 2.4I Limited XT $1,789

The Most Expensive Cars to Insure

Vehicle Average Annual Premium
Lexus NX 300h $2,014
Dodge Ram 1500 Rebel $2,015
Lexus RX 350 $2,105
Nissan Altima 2.0 S $2,130
Tesla Model 3 Standard Plus $2,447
Volvo XC90 T8 Inscription $2,456
Lexus ES 300H $2,485
Tesla Model S Performance $3,960

Average Cost Of Car Insurance In India For 2024

USAA Car Insurance Review

AAA Car Insurance Review

State Auto Insurance

What Makes a Vehicle Expensive to Insure?

The cost of your car insurance depends in part on the type of car you are insuring. This takes into account the claims that have been settled for similar car models. For instance, if your car insurance provider has paid out a lot for liability claims for your particular model due to injuries to others, this can impact your insurance premium. Additionally, vehicles with high repair expenses tend to have higher insurance costs. For example, cars equipped with advanced safety features such as parking assist and lane departure warnings can lead to increased repair costs because the equipment is more costly to fix or replace.

Purchasing collision and comprehensive insurance means that previous claims for similar vehicle models will impact the cost of this coverage, taking into account the vehicle’s value. For instance, if your car is destroyed by a tree, you can file a comprehensive insurance claim, and the insurance company will reimburse you for the vehicle’s value at the time of the incident, minus your deductible. Therefore, high-value vehicles will result in higher rates for collision and comprehensive insurance.

What Affects Car Insurance Cost?

Several factors can influence the cost of car insurance. These include but are not limited to the driver’s age, driving history and record, the type of vehicle being insured, and the purpose for which the car is used. Insurance providers also consider the driver’s location, credit score, and marital status when determining insurance rates. Additionally, some other variables that may impact car insurance costs include the level of coverage chosen, deductibles selected, and any additional benefits or riders added to the policy. It is important to note that each insurance company may weigh these factors differently in calculating premiums, so it’s always a good idea to shop around and compare quotes from multiple providers before making a decision. Your vehicle is just one element in the car insurance cost equation. Other factors can affect your car insurance rates more than the vehicle, such as your driving record and even credit. These are common factors in car insurance rates:

  • Driving record
  • Location (called the garaging address)
  • Use of vehicle, such as personal or business
  • Mileage
  • Credit-based insurance score
  • Your past claims
  • Any recent lapse in auto insurance coverage
  • Vehicle
  • Auto insurance coverage chosen

Summary

In order to identify the most affordable vehicles for insurance, we analyzed rates from Quadrant Information Services, a company that offers insurance data and analytics, and the best-selling 2021 vehicle models. The rates were calculated for a female driver with a spotless driving record and specific coverage amounts, including bodily injury liability, property damage liability, uninsured motorist coverage, and state-mandated coverage. Additionally, the rate encompasses collision and comprehensive coverage with a $500 deductible.

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