When it comes to buying a car, the cost of insurance is an important factor to consider. Insurance rates can vary significantly from make and model to make and model, so it makes sense to research which cars are cheapest on insurance before making a purchase decision. In this article, we’ll take a closer look at the cars that offer the most affordable insurance rates in different categories.
Sedans
Sedans are practical and popular cars that are affordable to insure. Here are some of the cheapest sedans on insurance:
Make and Model |
Insurance Annual Premium |
|---|---|
Toyota Camry |
$1,353 |
Honda Accord |
$1,380 |
Nissan Altima |
$1,391 |
Kia Optima |
$1,427 |
Toyota Camry
The Toyota Camry is a midsize sedan that has been a bestseller for many years. It is known for its reliability, safety, and fuel efficiency, which make it an affordable and practical choice for families.
The Camry has earned high safety ratings from the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety. It also comes with advanced safety features such as adaptive cruise control and automatic emergency braking, which can help lower insurance rates.
The Camry’s average insurance premium is $1,353 per year, which is lower than the national average of $1,502. This makes it a great option for drivers who want a reliable and safe car without breaking the bank on insurance costs.
Honda Accord
The Honda Accord is another midsize sedan that is popular for its reliability, comfort, and features. It comes with standard safety features such as lane departure warning and forward collision warning, which can help lower insurance rates.
The Accord has also earned high safety ratings, including a 5-star overall rating from the National Highway Traffic Safety Administration. Its average insurance premium is $1,380 per year, which is slightly higher than the Camry but still affordable.
Nissan Altima
The Nissan Altima is a midsize sedan that offers a comfortable ride, good fuel economy, and advanced safety features. It comes with standard safety features such as automatic emergency braking and rearview camera, which can help lower insurance rates.
The Altima has also earned high safety ratings, including a 5-star overall rating from the National Highway Traffic Safety Administration. Its average insurance premium is $1,391 per year, which is slightly higher than the Accord but still affordable.
Kia Optima
The Kia Optima is a midsize sedan that offers good value for money, with a spacious cabin, user-friendly infotainment system, and advanced safety features. It comes with standard safety features such as blind spot detection and rear cross traffic alert, which can help lower insurance rates.
The Optima has also earned high safety ratings, including a Top Safety Pick+ rating from the Insurance Institute for Highway Safety. Its average insurance premium is $1,427 per year, which is slightly higher than the Altima but still reasonable.
SUVs
SUVs are popular for their spaciousness, versatility, and safety features. However, they can be more expensive to insure than sedans due to their size and weight. Here are some of the cheapest SUVs on insurance:
Make and Model |
Insurance Annual Premium |
|---|---|
Subaru Forester |
$1,347 |
Jeep Cherokee |
$1,372 |
Toyota RAV4 |
$1,393 |
Honda CR-V |
$1,398 |
Subaru Forester
The Subaru Forester is a compact SUV that offers excellent safety ratings, all-wheel drive, and advanced safety features such as blind spot detection and rear cross traffic alert. Its average insurance premium is $1,347 per year, which is lower than the national average for SUVs.
Jeep Cherokee
The Jeep Cherokee is a midsize SUV that offers a comfortable ride, off-road capability, and advanced safety features such as lane departure warning and forward collision warning. Its average insurance premium is $1,372 per year, which is affordable for an SUV.
Toyota RAV4
The Toyota RAV4 is a compact SUV that offers good fuel economy, reliability, and advanced safety features such as adaptive cruise control and automatic emergency braking. Its average insurance premium is $1,393 per year, which is reasonable for an SUV.
Honda CR-V
The Honda CR-V is a compact SUV that offers a spacious and practical interior, all-wheel drive, and standard safety features such as forward collision warning and automatic emergency braking. Its average insurance premium is $1,398 per year, which is slightly higher than the RAV4 but still affordable for an SUV.
FAQ
What factors affect car insurance rates?
Car insurance rates are influenced by a range of factors, including the make and model of the car, the driver’s age and driving record, the location and frequency of use of the car, the amount and type of coverage, and the insurance company’s underwriting policies and marketing strategies.
How can I lower my car insurance rates?
There are several ways to lower your car insurance rates, such as choosing a car that is cheaper to insure, maintaining a good driving record, opting for a higher deductible, bundling policies with the same insurer, installing safety and anti-theft devices, and shopping around for competitive quotes from different insurers.
Should I buy the minimum liability insurance required by law?
No, buying the minimum liability insurance required by law may not be enough to protect you in case of an accident. It is recommended to buy enough liability coverage to protect your assets and income, as well as other optional coverages such as collision, comprehensive, and uninsured/underinsured motorist coverage.
How can I save money on car insurance as a young driver?
You can save money on car insurance as a young driver by maintaining a good driving record, taking a defensive driving course, driving a car that is cheaper to insure, opting for a higher deductible, and getting discounts for good grades, low mileage, and safe driving habits.
What is an insurance deductible?
An insurance deductible is the amount of money you agree to pay out of pocket before your insurance coverage kicks in. For example, if you have a $500 deductible for collision coverage and you get into an accident that causes $2,000 in damage, you will pay $500 and your insurance company will pay the remaining $1,500.