Cars With Cheapest Insurance Rates

Cars With Cheapest Insurance Rates

People want to shop smart when purchasing a new car. They consider their budget, the price of the vehicle, number of miles they expect to drive and fuel efficiency. But not everyone considers the premium they will have to pay to insure the vehicle. While it might seem like a good idea to take advantage of a great deal on a new vehicle, not all cars are cheap to insure. We assessed auto insurance rates for the most popular car models of 2020 to determine the cheapest cars to insure.

Cars With Cheapest Insurance Rates

While a cheaper car will not guarantee lower insurance premiums, there are affordable vehicle that are also affordable to insure. By comparing the top-selling models of 2020, we found the Subaru Outback to be the cheapest for minimum coverage at only $510 and $1,475 for full coverage. Close on its heels is the Honda CR-V at an annual premium of $527 for minimum coverage and $1,366 with full coverage, including optional comprehensive and collision. These sport utility vehicles have been a customer favorite for years due to their seating capacity and fuel efficiency.

READ ALSO:   Study In Canada: Scholarships, Financial Aid, Visa, Admissions
Vehicle Average Minimum Coverage Average Full Coverage
Subaru Outback $510 $1,475
Honda CR-V $527 $1,366
Toyota RAV4 $535 $1,451
Hyundai Tucson $544 $1,394
Toyota Highlander $547 $1,585
Ford F-150 $556 $1,432
Ram Pickup $558 $1,555
Jeep Wrangler $567 $1,462
Nissan Rogue $579 $1,501
Chevrolet Silverado $582 $1,517

Cars to avoid for cheap insurance

While price isn’t everything, budget vehicles with high safety ratings and low claim-filing rates usually offer the cheapest auto insurance premium. Expensive sports and luxury cars are costly to own and typically come with the highest annual premiums. A Honda CR-V compact SUV will always be cheaper to own and insure than high-end luxury vehicles such as a Lamborghini or a Porsche.

It is best to avoid the following kinds of vehicles to save on auto insurance:

READ ALSO:   How to Move to Germany from the US

High-end luxury cars
Expensive compact cars
Cars with specialty parts
Vehicles with low safety ratings

Leave a Reply

Back to top button