What Are the Cheapest Vehicles to Insure?

Insure.com 2015 Rankings of Cheapest Cars to Insure

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Insure.com has released its 2015 rankings of the cheapest cars to insure. Also included in the rankings list are the most expensive types of vehicles for consumers to insure. These rankings are released on an annual basis and used by consumers in helping to make choices in vehicle purchasing as well as in finding the best value on an auto policy.

Cheapest Vehicles to Insure

  1. Jeep Wrangler Sport 4WD- $1,134
  1. Jeep Patriot Sport 2WD - $1,136
  2. Honda CR-V LX 4WD - $1,160
  3. Dodge Grand Caravan SE Plus- $1,162
  4. Honda Odyssey LX- $1,163
  5. Jeep Compass Sport 2WD- $1,164
  6. Subaru Outback 2.5i- $1,176
  7. Ford Edge SE 2WD- $1,176
  8. Smart FORTWO Pure- $1,186
  9. Ford Escape S 2WD- $1,190

 

Most Expensive Vehicles to Insurance

  1. Nissan GT-R Nismo- $3,574
  2. Mercedes-Benz SL65 AMG Convertible- $3,573
  3. Dodge SRT Viper- $3,318
  4. Porsche 911 Carrera S Cabriolet- $3,216
  5. Audi R8 5.2 Spyder Quattro- $3,206
  6. Porsche Panamera Turbo Executive- $3,174
  7. BMW 760Li- $3,147
  8. BMW M6 Convertible- $3,115
  9. Mercedes-Benz E63 AMG 4Matic Wagon – $3,042
  10. Mercedes-Benz CLS63 AMG 4Matic Sedan - $2,972

 

Methodology

In ranking the least and most expensive vehicles for the 2015 study, Insure.com examined rates for more than 1,500 vehicles. The price given is the median premium for auto insurance. Depending on what state you reside it, the premium could be much lower or much higher.

You may be surprised at the findings for the least expensive vehicles.

It is probably not at all what you would think. Smaller, economic vehicles are not necessarily the cheapest to insure. Why is this? Insurance companies use claims data as part of the criteria for obtaining insurance rates for different makes and types of vehicles. Since more smaller and fuel efficient vehicles are on the road, they also tend to have more claims.

SUVs, mini-vans and off road vehicles are in fewer accidents mainly because there are fewer of these vehicles on the roadways. Also, more cautious older drivers who have families tend to drive these types of vehicles and therefore, these vehicles have fewer accidents and claims. Fewer claims result in lower insurance premiums for the consumer.

Likewise, the vehicles with the highest costing insurance premiums are those that sell for over $100,000 and are driven faster, cost more to replace or are very expensive to repair. Since sports cars tend to be driven faster, these vehicles are involved in more accidents and more claims are likely to be paid out by the insurance company resulting in higher insurance premiums for these make and model types.

The Bottom Line

If you are shopping for a new vehicle and want to find a car that operates well for your needs as well as one that won’t break the bank when buying an auto insurance policy, Insure.com’s rankings of the least and most expensive vehicles to insure are a helpful tool in making a wise vehicle purchase decision.

About Insure.com

Insure.com is a trusted name in insurance and has been providing insurance resources for consumers for over 25 years.

Among its most helpful tools are the annual rankings of life, health, homeowners and auto insurance. One of the most well-known surveys in the People’s Choice Award which surveys over 3,000 insurance consumers each year on the top insurance providers and products assessing overall customer satisfaction, claims satisfaction and the value of the price paid for coverage among other factors. Tools like the rankings provided by Insure.com, studies by the global market research firm, J. D. Power and Associates and other insurance rating organizations empower consumers with the knowledge to make an informed purchase decision when trying to find the best value on an insurance policy.