What’s the cheapest car to insure? The Fiat 500X, with an MSRP starting at $24,840, is the cheapest car for insurance in the U.S. Its six-month premium is $705 — $118 per month — an annual savings of $46 compared to the national average for car insurance.
Car insurance is a complex system with many factors that affects your premiums. Key factors that determine auto insurance premiums include the type of vehicle a person chooses. High-performance cars, sports cars, electric vehicles, luxury SUVs, and high prices are among the most expensive cars to insure. It’s more common to see lower-rated models, but they’re less expensive to insure, too.
Here is a comparable list in 2021 for the cheapest cars to insure.
1. Fiat 500X
2. Ford Transit Connect
3. Jeep Compass
4. Ford Escape
5. Subaru Outback
6. GMV Canyon
7. Honda CRV
8. Subaru Forester
9. Mazda CX3
10. Subaru Crosstek
Car insurance companies establish their pricing by calculating your risk and your vehicle’s value. Claims histories are taken into consideration to estimate a vehicle risk. More claims for a particular model raise insurance rates.
On the other hand, the cheapest insurance policies often have the most inexpensive claims.
The total monthly cost is the vehicle’s cost plus all expenses divided by the total number of months of coverage periods you intend to have coverage.
Car insurance prices for different vehicle models
It’s not strange that the CR-V and the Subaru Outback are the least expensive models to insure. after all, they’re both top-rated by the Insurance Institute for safety
Nevertheless, there is no single determining factor in your insurance rate. For example, despite receiving the top safety ratings from IIHS, the Honda Accord and Civic ranked as the most stolen cars in the country in 2018. This is why these cars aren’t on our list.
Trim level and auto insurance
Adding features to your new car could result in higher insurance costs as well. It’s more expensive to fix cars with high-tech equipment, and if you choose a more powerful engine, insurers will believe you are more at a risk of speeding and causing accidents.
It’s always cheaper to insure the least expensive version of a new vehicle without features like navigation or premium sound than one with those features.
The normal practice is for manufacturers to include many options into various trim levels. For example, trim levels for a Toyota Camry include the base LE model, followed by the upgraded XLE model, which has a higher starting price and more features. To compare insurance quotes, InsuranceHelpZone takes the baseline version of each vehicle. Moving to a higher trim level may also increase insurance premiums for all vehicles.
When you buy a car, you should always follow these tips to make sure you get the best deal.
Insurance premiums tend to rise due to people who drive these types of vehicles. Powerful engines. Fast cars. Electric cars. Cars that are likely to be stolen are at a higher premium.
Younger drivers tend to have the highest insurance rates for sports cars.
Luxury cars are expensive to maintain because they require a lot of time and money to repair and are expensive to replace if they get damaged.
Insurance rates are higher for electric vehicles because of their higher price tags, and the costs of repair are much higher.
Cars that are the target of thieves cost more to insure. Comprehensive insurance will pay for theft, fire, floods, and vandalism.
It is, therefore, essential to compare policies from different insurers because rates vary greatly. Learn how to find out which car insurance companies are the cheapest in your state. Also, ask about discounts from the insurers. An increasing number of companies are reducing costs if your vehicle has safety features that minimize the chance of injuries or theft.