Top 25 Cheapest Vehicles To Insure

carcarehacksBuyers GuideLeave a Comment

Have you ever wondered how much does a car insurance cost? Are you a new driver, or buying your first car and you want to know? We have analyzed over 150 models and came up with a list of 25 vehicles that are cheapest to insure.

The cheapest vehicle to insure is Subaru Outback 4WD with Eyesight. The annual average insurance paid is $539.32 and the annual collision insurance paid is $222.30. This vehicle falls under Midsize station wagons/minivans and has a retail price of $25,895.

Car insurance premiums have risen sharply in recent years increasing by 33% between 2010 and 2019 and if owners are also paying off a car loan insurance premiums which will exceed $1000 annually, in most states can be a substantial burden. How much a typical American pays for car insurance depends on many factors including: driver age, driving record, location and of course the kind of vehicle also makes a big difference in insurance costs. The Insurance Institute for Highway Safety, a nonprofit research organization funded by auto insurers collects data on insurance claim frequency and insurance cost for vehicles. In a given year insurance companies make claim payments of roughly $900 on average per vehicle. Statistically, some vehicles get into more accidents and some of the vehicles have higher payouts for each accident. Insurers may claim payments on some models averaging less than $600, while they are more than double that on others.

In this article we review the 25 cars with the lowest annual payouts. A lot of the cars that are most expensive to insure are large or mid-size luxury vehicles. Most of the vehicles that are the least expensive to insure are small to midsize SUVs. Russ Rader senior vice president for communications at the Insurance Institute for Highway Safety noted that while insurance claim payment averages do not represent directly what owners might pay for their car insurance, they merely reflect how much they should expect to pay. Insurers transfer higher expected costs to the consumer if insurers can expect to pay out less frequently and in smaller amounts on certain models they will charge lower premiums. Before we start with the list, lets look into what affects the cost of the vehicle insurance?

Vehicle Insurance Factors

The car insurance companies will collect data about your vehicle and then will determine the cost for insurance. Sometimes they will pull up this information thanks to the VIN number, sometimes you will be asked to provide this information directly.

  1. Year: The year of manufacture does affect the cost of your insurance. Brand new vehicles can sometimes receive a new car discount.
  2. Make: This is also an important factor when it comes to insuring. Are you insuring a foreign car or a homemade American minivan? Most of the times the foreign vehicles will have more expensive insurance because it will be harder to acquire parts.
  3. Model: TD, TDI, TSI are variations of the same model. The more fancier the package, the more expensive the insurance. A standard 4-door vehicle is often the cheapest model to insure.
  4. VSF: Insurance companies are big on vehicle safety features. If your vehicle has dual air bags, your insurance will be more expensive than the ones with less air bags.
  5. Coverage Purchased: This one is obvious. The more coverage you seek, the more your insurance will cost you.
  6. Multi-Car Discount: If you are insuring more than 1 vehicle then you will receive a multi-car discount.

Driver Insurance Factors

The insurance companies also gather data for drivers in order to calculate the insurance cost. Here are some of the factors:

  1. Age: Your age affects the cost of the insurance. Somehow, the car insurance companies consider the age 25 to be the sweet spot and insurance is the cheapest for people of that age.
  2. Driving Record: If you have had many accidents in the past, your car insurance will be more expensive.
  3. Number of Drivers: If you are about to add a younger driver to your insurance list then the rate will surely go up.
  4. Living Location: The insurance companies will also look up your home address and then will look up for theft risk and insurance frauds.
  5. Home Ownership: If you own a home, the insurance company can offer you a discount.

Now that you have some basic knowledge of how insurance companies work, lets dig into the list:

25 – Toyota Sequoia 4-Door 4WD

  • Annual average insurance paid: $719.60
  • Annual collision insurance paid: $319.80
  • Type: Large SUV
  • Retail Price $48,400

24 – Chevrolet Traverse 4-Door 4WD

  • Annual average insurance paid: $716.68
  • Annual collision insurance paid: $284.70
  • Type: Large SUV
  • Retail price $47,500

23 – GMC Acadia 4-Door 2WD

  • Annual average insurance paid: $712.83
  • Annual collision insurance paid: $304.20
  • Type: Large SUV
  • Retail price: $29,000

22 – Ford Edge 4-Door 2WD

  • Annual average insurance paid: $693.74
  • Annual collision insurance paid: $304.20
  • Type: Midsize SUV
  • Retail price: $29,315

21 – Ford F-150 Super Cab 4WD

  • Annual average insurance paid:$691.91
  • Annual collision insurance paid: $273
  • Type: Large Pickup
  • Retail price: $27,705

20 – Toyota 4Runner 4-Door 4WD

  • Annual average insurance paid: $688.12
  • Annual collision insurance paid: $292.50
  • Type: Midsize SUV
  • Retail price: $34,610

19 – Ford F-250 Super Cab 4WD

  • Annual average insurance paid: $684.51
  • Annual collision insurance paid: $249.60
  • Type: Large Pickup
  • Retail price: $33,150

18 – Subaru XV Crosstrek 4WD with eyesight

  • Annual average insurance paid: $680.90
  • Annual collision insurance paid: $288.60
  • Type: Small Station Wagons/Minivans
  • Retail price: $21,595

17 – MINI Countryman 4WD

  • Annual average insurance paid: $680.94
  • Annual collision insurance paid: $312
  • Type: Small Station Wagons/Minivans
  • Retail price: 26,600

16 – Honda Odyssey

  • Annual average insurance paid: $680.40
  • Annual collision insurance paid: $296.40
  • Type: Large Station Wagons/Minivans
  • Retail price: $29,990

15 Honda CRV 4-Door 4WD

  • Annual average insurance paid: $37846
  • Annual collision insurance paid: $269.10
  • Type: Small SUV
  • Retail price: $24,250

14 – Honda Pilot

  • Annual average insurance paid: $377.38
  • Annual collision insurance paid: $284.70
  • Type: Midsize SUV
  • Retail price: $30,900

13 – Nissan Leaf Electric

  • Annual average insurance paid: $675.03
  • Annual collision insurance paid: $319.80
  • Type: Small four-door
  • Retail price: $29,990

12 – Chevrolet Corvette Convertible

  • Annual average insurance paid: $671.58
  • Annual collision insurance paid: $417.30
  • Type: Mid-size Sports Cars
  • Retail price: $55,495

11 – Subaru Legacy 4WD with Eyesight

  • Annual average insurance paid: $667.79
  • Annual collision insurance paid: $296.40
  • Type: Midsize Four-Door
  • Retail price: $22,195

10 – Volvo XC60 4-Door 2WD

  • Annual average insurance paid: $665.28
  • Annual collision insurance paid: $315.90
  • Type: Midsize luxury SUV
  • Retail price: $41,500

9 – Ford Expedition 4WD

  • Annual average insurance paid: $660.70
  • Annual collision insurance paid: $284.70
  • Type: Large SUV
  • Retail price: $51,790

8 – Acura MDX 4-Door2WD

  • Annual average insurance paid: $660.06
  • Annual collision insurance paid: $280.80
  • Type: Midsize luxury SUV
  • Retail price: $44,200

7 – Mazda CX-5 4-Door 2WD

  • Annual average insurance paid: $649.78
  • Annual collision insurance paid: $245.70
  • Type: Small SUV
  • Retail price: $24,150

6 – Jeep Wrangler 2-Door 4WD

  • Annual average insurance paid: $647.85
  • Annual collision insurance paid: $206.70
  • Type: Small SUV
  • Retail price: $23,995

5 – Subaru Forester 4-Door 4WD with Eyesight

  • Annual average insurance paid: $645.85
  • Annual collision insurance paid: $273
  • Type: Small SUV
  • Retail price: $22,795

4 – GMC Canyon Crew Cab 4WD

  • Annual average insurance paid: $633.70
  • Annual collision insurance paid: $257.40
  • Type: Small Pickup
  • Retail price: $21,100

3 – Chevrolet Silverado 1500 4WD

  • Annual average insurance paid: $620.47
  • Annual collision insurance paid: $253.50
  • Type: Large Pickup
  • Retail price: $28,300

2 – Acura RDX 4-Door 2WD

  • Annual average insurance paid: $590.92
  • Annual collision insurance paid: $249.60
  • Type: Mid-size Luxury SUV
  • Retail price: $36,000

1 – Subaru Outback 4WD with Eyesight

  • Annual average insurance paid: $539.32
  • Annual collision insurance paid: $222.30
  • Type: Mid-sized Station Wagons/Minivans
  • Retail price: $25,895

I hope that this article will help you in choosing your ideal car. Feel free to leave a comment and ask us something, or share your experience.

Leave a Reply

Your email address will not be published. Required fields are marked *