Which Cars Are the Cheapest to Insure?

cheapest car to insure
Buying a new car is exciting. You’ve probably thought everything through already: how much you’ll need to put down on the car, how much your monthly payments will come out to and even how much interest you’ll pay. What about your car insurance?

Many people don’t realize that car insurance can increase and decrease based on the car you drive. For instance, if you purchase a high-performing sports car you’re likely to pay more money month-to-month on your insurance. So, what is the cheapest car to insure?

What Factors Effect Your Car Insurance Rate?

Of course your own personal driving history will effect your car insurance rate but there are a number of other factors as well. If your car has more safety features than another, it will likely have cheaper insurance. Additionally if you are willing to drive a car with a lower top speed (or even a speed limiter) your insurance can drop significantly as well.

There are also some lesser-known facts about factors that effect your car insurance rate. For instance, if your car is red you’ll pay more than if it was any other color. Black and darker color cars are cheaper. Finding loopholes like this is a great way to try and slim down your car insurance bill.

Most Expensive Cars to Insure

Before we get to the cheaper car insurance though, let’s take a look at some of the highest car insurance rates and which cars they belong to.

  • Nissan GTR ($3,476 annually)
  • BMW M6 Gran Coupe ($3,309 annually)
  • Range Rover ($3245 annually)
  • Audi RS7 ($3,229 annually)
  • Porsche 911 Carrera GT3 RS ($3,212 annually)

Among some of the even more expensive are big car names like McLaren and Bugatti. If you’re buying one of these cars, chances are you’re not too worried about the monthly or annual cost of your car insurance. However, many people have to budget how much they’ll spend on car insurance month-to-month or yearly. If that’s the case with you, check out some of the cheapest cars to insure.

Cheapest Cars to Insure

Each of the following cars is significantly cheaper to insure than those mentioned above. It should also be noted that each is relatively new and has additional safety features (something insurance companies look at). These may not be as glamorous as the cars above but they’ll save you a pretty penny!

  • Honda Odyssey LX ($1,113 annually)
  • Honda CRV LX ($1,170 annually)
  • Dodge Grand Caravan AVP ($1,174 annually)
  • Most Jeep models are less than $2,000 to insure annually
  • Ford Escape S ($1,194 annually)
  • Buick Encore Sport Touring ($1,200 annually)
  • Nissan Frontier S King Cab ($1,204 annually)

Most of these cars are listed because they are considered to be safer vehicles than the faster ones mentioned earlier. Each of these also has some sort of additional safety features (you can choose to add more if you’d like, which may decrease your premium even more).

Focusing on decreasing your car insurance payment could save you thousands of dollars each year so why not do a little research before heading out to buy your new whip? Your wallet will thank you!

Photo: Cars.com

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  1. Interesting. Since we only hold liability insurance on our cars, I never spent time thinking about the difference in rates between models. I do know that liability is about 1/2 of “full’ coverage. So I figure even if we had an accident every five years and paid cash for it, we’d come out ahead. Been liability-only now for almost 12 years though and haven’t had an accident that was our fault, so it’s worked very much to our favor.
    Financial Coach Brad recently posted..Comment on 5 Steps to Help Your Child Avoid Student Loan Debt by Brad KingsleyMy Profile

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Which Cars Are the Cheapest to Insure?

cheapest car to insure
Buying a new car is exciting. You’ve probably thought everything through already: how much you’ll need to put down on the car, how much your monthly payments will come out to and even how much interest you’ll pay. What about your car insurance?

Many people don’t realize that car insurance can increase and decrease based on the car you drive. For instance, if you purchase a high-performing sports car you’re likely to pay more money month-to-month on your insurance. So, what is the cheapest car to insure?

What Factors Effect Your Car Insurance Rate?

Of course your own personal driving history will effect your car insurance rate but there are a number of other factors as well. If your car has more safety features than another, it will likely have cheaper insurance. Additionally if you are willing to drive a car with a lower top speed (or even a speed limiter) your insurance can drop significantly as well.

There are also some lesser-known facts about factors that effect your car insurance rate. For instance, if your car is red you’ll pay more than if it was any other color. Black and darker color cars are cheaper. Finding loopholes like this is a great way to try and slim down your car insurance bill.

Most Expensive Cars to Insure

Before we get to the cheaper car insurance though, let’s take a look at some of the highest car insurance rates and which cars they belong to.

  • Nissan GTR ($3,476 annually)
  • BMW M6 Gran Coupe ($3,309 annually)
  • Range Rover ($3245 annually)
  • Audi RS7 ($3,229 annually)
  • Porsche 911 Carrera GT3 RS ($3,212 annually)

Among some of the even more expensive are big car names like McLaren and Bugatti. If you’re buying one of these cars, chances are you’re not too worried about the monthly or annual cost of your car insurance. However, many people have to budget how much they’ll spend on car insurance month-to-month or yearly. If that’s the case with you, check out some of the cheapest cars to insure.

Cheapest Cars to Insure

Each of the following cars is significantly cheaper to insure than those mentioned above. It should also be noted that each is relatively new and has additional safety features (something insurance companies look at). These may not be as glamorous as the cars above but they’ll save you a pretty penny!

  • Honda Odyssey LX ($1,113 annually)
  • Honda CRV LX ($1,170 annually)
  • Dodge Grand Caravan AVP ($1,174 annually)
  • Most Jeep models are less than $2,000 to insure annually
  • Ford Escape S ($1,194 annually)
  • Buick Encore Sport Touring ($1,200 annually)
  • Nissan Frontier S King Cab ($1,204 annually)

Most of these cars are listed because they are considered to be safer vehicles than the faster ones mentioned earlier. Each of these also has some sort of additional safety features (you can choose to add more if you’d like, which may decrease your premium even more).

Focusing on decreasing your car insurance payment could save you thousands of dollars each year so why not do a little research before heading out to buy your new whip? Your wallet will thank you!

Photo: Cars.com

Enjoy Plunged in Debt?

Pid

Subscribe to get our latest content by email.

Powered by ConvertKit

  1. Interesting. Since we only hold liability insurance on our cars, I never spent time thinking about the difference in rates between models. I do know that liability is about 1/2 of “full’ coverage. So I figure even if we had an accident every five years and paid cash for it, we’d come out ahead. Been liability-only now for almost 12 years though and haven’t had an accident that was our fault, so it’s worked very much to our favor.
    Financial Coach Brad recently posted..Comment on 5 Steps to Help Your Child Avoid Student Loan Debt by Brad KingsleyMy Profile

Speak Your Mind

*