Cheapest Cars To Insure in 2023

Are you looking for a cheap car to insure? Ford F-150, Subaru Forester, and Mazda CX-5 are the top three cheapest vehicles to insure in 2022. However, the Honda CR-V is the better option if you’re a new or teen driver. 

Insurance companies consider car insurance rates by vehicle because different makes and models have increased risks. For example, high-performance sports cars are more likely to be stolen or involved in an accident, meaning higher insurance costs for the driver.

You can lower costs with safe driving and other auto insurance discounts, but researching for low to average auto insurance rates by car before buying can save even more money. We found that Honda offers the most models at affordable rates, but you may have another vehicle in mind.

Use this guide to compare auto insurance rates for different car brands. Keep reading to find out the cheapest cars to insure, the most expensive, and how you can find the lowest rates for any model.

What are the cheapest cars to insure?

Drivers pay nearly $7,000 more for a new car than they did two years ago. According to KBB, the average car prices rising between $30,000 and $50,000, so finding the most affordable auto insurance is essential.

Before buying a new car, compare multiple auto insurance quotes for vehicles of similar prices in your area.

More expensive cars cost more to insure, but you can still find cheap auto insurance rates by choosing vehicles with advanced safety features and low theft risk. New vehicles will also have higher rates, so you may want to compare car insurance quotes for used cars to get better rates.

Along with retail prices, your car’s make and model also impact your rates. For example, shopping for an SUV will get you different quotes than shopping for a sedan

Scroll down to compare cars with cheap insurance. We explore insurance rates on the best cars for 16-year-olds and the most popular models so you can get a better idea of what it might cost to insure your vehicle.

Least Expensive Cars to Insure

What is the cheapest car to insure? The cheapest cars for insurance are compact SUVs and pick-up trucks. 

The Mazda CX-5, Subaru Forester, and Honda CR-V are the most affordable SUVs to insure, while the Ford F-150 remains the cheapest truck to insure. For more information on each of these vehicles, see buy cheap Mazda CX-5 auto insurance or buy cheap Subaru auto insurance.

Read more: Buy Cheap Mazda Auto Insurance 

Why are bigger vehicles cheaper to insure? According to IIHS, trucks and SUVs have high safety ratings, and many vehicles on this list have low repair costs, meaning less expensive claims for the insurance company and lower monthly rates for drivers.

Cheapest Cars to Insure Among Popular Models

Out of the most popular cars on the road, the Ford F-150 and the Honda CR-V have the lowest monthly rates. However, drivers can still save on their insurance costs by driving one of the other top five popular models.

The Honda Civic is one of the most affordable cars to insure. The sedan and hatchback models earned Top Safety Pick+ ratings from the Insurance Institute of Highway Safety and 5-star ratings from the National Highway Traffic Safety Administration.

Read more: Buy Cheap Honda Auto Insurance 

Cheapest Cars to Insure for Young Drivers

Auto insurance for teens is the most expensive, but driving a car with additional safety features can help young drivers get better rates. These cheap safe cars for new drivers have the lowest average insurance rates. For more details, see buy cheap auto insurance for teenagers.

The Honda CR-V ranks as the most affordable vehicle for car insurance, especially among young drivers. There are other vehicles that rank high on the affordability list. Check out an overview of cheap car insurance to see which cars are the better choice for young drivers.

Best Midsize Luxury Cars With Low Insurance Rates

Auto insurance is more expensive for luxury cars due to the high retail and repair costs. However, you can lower your average rates by driving an older model or choosing one of the cars from the list below.

The average price of a midsize luxury vehicle is $40,000, but if you paid more for your car, your insurance rates could go up.

Looking for luxury auto insurance quotes for less than $300 per month to save money. However, your rates may be higher if you drive one of the most popular electric vehicles (EV) since they’re among the most expensive to repair after an accident.

The Most Expensive Cars to Insure

The most expensive cars to insure aren’t just luxury vehicles. Sports cars, supercars, and EVs have the highest monthly insurance rates. In addition, if you have any premium upgrades or vehicle modifications, you may also see your annual rates rise to over $4,000. 

If you want cheaper insurance, avoid these vehicles or buy high-risk auto insurance coverage.

Driving an older model of the makes above will lower your annual rates, but you’ll still pay more than average. 

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What affects auto insurance costs?

Insurance companies consider many factors when setting auto insurance rates, like age, gender, driving record, and ZIP code. The car you drive also affects your quotes, and newer makes and models always have higher insurance costs.

How Make and Model Affect Insurance Rates

Why are the make and model of a car important to insurance companies? A car’s make and model are important to insurers because certain vehicles have an increased risk of accidents, theft, and insurance claims. Pay attention to the following car specifications and features to determine how your insurance costs might change:

• Engine size. High-performance cars with more horsepower come with higher rates due to the increased risks associated with speeding.

• MSRP price. Expensive cars cost more to repair, and insurance companies compensate by charging higher rates.

• Auto theft rates. Insurance companies raise rates on the most stolen cars, but drivers can reduce this risk by keeping their cars in a garage.
• Vehicle size. Compact SUVs and pick-up trucks have lower insurance rates than smaller vehicles because they’re less likely to get damaged in an accident.

Insurance companies may also charge different rates depending on the make and trim of your car. Compare multiple companies to find the best price for your policy.

How the Age of Your Car Affects Insurance Rates

Newer vehicles are more likely to be stolen and cost more to replace, which is why insurance rates are so expensive. You may also be required to carry additional insurance on a new car if you have a loan or lease, raising your rates.

Insurance rates on a new car decrease as the vehicle depreciates, but you can save money upfront by buying a used car with a lower MSRP. Drivers with older cars can drop to liability-only coverage, especially if the car is over 10 years old or the auto loan is paid off.

How Trim Level Affects Insurance Rates

Trim level refers to the different features and additional equipment that may come with particular models. For example, you may opt for a sport trim on your Honda Civic with rear spoilers and enhanced horsepower. You may also want a high-tech luxury trim with leather seats and in-car WiFi.

Choosing a higher trim level increases your vehicle’s value and monthly insurance rates. However, the standard trim won’t have additional features, making it the cheapest model to insure. If you want sports models or luxury trim, compare rates for used cars to get cheaper insurance.

The Bottom Line on How to Find the Cheapest Car to Insure

The Ford F-Series trucks are among the most affordable vehicles to insure. Honda and Subaru also make cars with cheap insurance, and you’ll get the lowest rates with their compact SUV models.

Read more: Buy Cheap Ford Auto Insurance

However, if you’re in the market for another car brand, don’t assume your insurance rates will automatically be higher. You can still find the cheapest car to insure among all makes and models by researching new vs. used car prices near you and comparing auto insurance quotes by vehicle type. 

Start shopping for insurance today with these five easy tips for choosing the car with the lowest insurance.

• Avoid luxury vehicles and sports cars. High-performance and high-price vehicles come with more risk and expensive insurance rates.

• Check local auto theft rates. Drivers in cities with the most vehicle thefts often pay more for car insurance.

• Buy an older model. Look for an older or used version of the vehicle you want to save money on auto insurance.

• Resist excessive vehicle modifications. Enhancing engine performance or adding entertainment components to your car will increase your monthly rates.
• Compare auto insurance rates online. Getting multiple quotes from different insurance companies is the only way to guarantee you don’t overpay for coverage. 

Use our free comparison tool below to compare auto insurance rates from local companies. You just need your ZIP code and VIN to get started.

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