Get Personalized Auto Insurance Quotes

Auto Insurance – Which Car Models Have The Cheapest

Auto Insurance
February 18, 2020

What Key Factors Determine Cheaper Auto Insurance?

When looking to buy a new car you can assume that you are going to take on a new financial responsibility. From the many commercials to endless deals, buying a car can drain your pockets. Purchasing a new car is not the only expense, choosing the wrong insurance can maximize your monthly expenses. Remember, doing your research before your newest purchase is key to maintaining a healthy wallet.

Why Do Auto Insurances Rates Vary?

Each insurance company covers car models differently. There are several aspects to be considered when looking to purchase a new car along with auto insurance. When you know each detail, you can easily estimate the amount for each vehicle and the insurance to follow. When looking to purchase a new car here are some details you should consider when it comes to being able to afford the respective premiums.

What Factors into Auto Insurance Rate Pricing?
  • Drivers age, accident history and credit rating
  • Vehicle repair or replacement costs
  • Incidence or claims rate of the model in question
  • Gender, Location and Marital Status
  • Amount of coverage you opt for and discounts if they apply to you.
What Car/Model Attracts Low Auto Insurance Rates?

According to a recent survey of cars with the cheapest insurances rates in 2019, the following vehicles are ranked among the cheapest:

  • Honda Odyssey LX with an average annual insurance rate of $1,298
  • Jeep Wrangler with an average annual insurance rate of $1, 304
  • Subaru Outback with an average annual insurance rate of $ 1,306
  • Mazda CX-3 with an average annual insurance rate of $ 1,307
  • Honda HR-V with an average annual insurance rate of $ 1,325
  • Honda CR-V with an average annual insurance rate of $1,333
  • Jeep Renegade with an average annual insurance rate of $1,338
  • Ford Escape with an average annual insurance rate of $1,344
  • Subaru Forester 2.5i with an average annual insurance rate of $1,347
  • Jeep Compass with an average annual insurance rate of $1,349

Some of the common trends when it comes to the cheapest insurance rates is the price of the cars themselves. Not only are these cars fairly cost effective, they also have cautious driver profiles.

Family-oriented cars like the Honda Odyssey are driven by people who have children as passengers making the driver much more cautious on the road.

Another reason why these vehicles are cheapest to insure is because repairs are not as expensive. For example, the Jeep Wrangler, which is meant for off-road driving cheap repairs when it comes to its doors, windshield and roof.

Although the Subaru name has a stereotype of larger price tags, both the 2019 Subaru Outback & Subaru Forester, offer security features and advanced technology that lead to better driving.

All weather Vehicles that have a more cost-effective price tag and offer technology/safety features, tend to be on the more practical when shopping for car insurance.

Want to Pay Less for Insurance? Avoid These Stand Out Options:
  • Vehicles Susceptible to Theft

Since insurance companies will pay you out if your vehicle is ever stolen, they also charge vehicle owners with this in mind. Vehicles that are likely to be stolen or vandalized are taken into account when rates are being provided.

  • High-End Luxury Vehicles

Not only are luxury vehicles more costly to repair, they are more expensive to replace. Since most luxury vehicles are made abroad, most of their parts must come from their manufacturers as well. Replacing a damaged luxury vehicle can be a huge expense to you and your insurance provider.

  • Sports Cars

Sports cars in general tend to attract the highest insurance premiums. With the fact that young drivers desire sports cars, rates are higher due to drivers being speedier and more reckless. Thus, sports cars make reckless drivers’ accident prone. Most sports cars are speed machines bragging about how fast they can accelerate within a minute. Insurance companies consider all of these risks when it comes to drivers of sports cars making rates highest on the market.

  • Electric Cars

You may think that you will save money by not having to pay for gas, but electric cars can be very expensive to repair. Replacing an Electric Vehicle battery can cost upwards of several thousand dollars along with additional parts.

When making the decision to purchase a new car is it easy to be persuaded in the moment especially if deals are being thrown your way. Make sure to set a price and stick to that budget when shopping for both a new vehicle and insurance coverage. The vehicles above are a great option to investigate. If you choose to not purchase one of the following, it is always best to consult a financial adviser as well as an auto expert to break down any issues and costs. By doing your research and making educated decisions, you will come out on the other side with a new car and a happy bank account. If you are still searching for quality insurance, make sure to use for all of your Auto Insurance needs.