UPDATED: MAY 08, 2023 | 1 MIN READ
A vehicle is a large purchase, so finding the best bang for your buck is important. When budgeting for a vehicle, it’s not just the cost of the vehicle itself you’ll have to think about, but also the cost of auto insurance. It’s important to keep in mind that some vehicles cost more to insure than others.
Here at AgileRates, we pride ourselves on providing the best comparative auto insurance quotes. We’ve compiled a list of the cheapest cars to insure as well as tips for getting cheaper auto insurance for those on the hunt for the best deal. Below are the cheapest cars to insure in 2023, according to MarketWatch.1
|Rank||Car Make and Model||Average Annual Insurance Premium||Average Monthly Insurance Premium|
|9||Jeep Grand Cherokee||$1,789||$149|
1. Mazda CX-5
The Mazda CX-5 is the number one cheapest car to insure in 2023, with an average annual insurance premium of $1,658 and a monthly premium of $138. The Mazda CX-5 has been awarded the winner for best compact crossover SUV several times, and includes features such as Lane Departure Warning and Lane-Keep Assist.
2. Subaru Forester
The Subaru Forester is the second cheapest car to insure, with an average annual insurance premium of $1,673 and a monthly premium of $139. Voted the best compact vehicle, the Subaru Forester is a great vehicle for those who enjoy outdoor off-roading and a bit of extra room. The Subaru Forester also has a 5-Star Safety Rating from the National Highway Traffic Safety Administration (NHTSA).2
3. Honda HR-V
The Honda HR-V is next, with an average annual insurance premium of $1,680 and a monthly premium of $140. The Honda HR-V has several safety features, including a multi-view rearview camera, Lane-Keep Assist, and a Collision Mitigation Braking System. Plus, the Honda HR-V has been awarded a 5-Star Safety Rating by the NHTSA.
4. Chevrolet Trailblazer
The Chevrolet Trailblazer is our second cheapest compact SUV to insure. The average annual insurance premium for a Trailblazer is $1,696, with a monthly premium of $141. If you’re in the market for a car that has all the benefits of an SUV in a smaller size, the Chevy Trailblazer is a good choice. Plus, it’s received a 5-Star Safety Rating from NHTSA.
5. Jeep Compass
The first Jeep model on our list of cheapest cars to insure is the Jeep Compass. The Compass has an average annual insurance premium of $1,701, with a higher starting price of $31,590. The Jeep Compass is an advanced-tech vehicle with plenty of safety features, like Rear Cross Path Detection and Active Lane Management.
6. Volkswagen Tiguan
The next cheapest crossover SUV to insure is the Volkswagen Tiguan. The Tiguan has an average annual insurance premium of $1,707 and a monthly premium of $142. The Volkswagen Tiguan has a more European style, with tailored finishes and sharp handling. It also has several safety features, such as an Intelligent Crash Response System and a rearview camera system.
7. Subaru Outback
The second cheapest Subaru model to insure is the Subaru Outback. Recently awarded the Top Safety Pick by Kelley Blue Book, the Outback offers both comfort and safety for drivers. At a starting price of $29,620, it sits about mid-range in cost among the top 10 cars. The Subaru Outback is a great choice for those looking for an all-terrain vehicle with all-wheel drive.
8. Jeep Cherokee
The next cheapest Jeep model to insure is the Jeep Cherokee. The Cherokee has an average annual insurance premium of $1,789 and a monthly average of $149. The Cherokee has great safety features like Adaptive Cruise Control and rain-sensing windshield wipers. The Cherokee’s pricing starts at $39,290.
9. Jeep Grand Cherokee
The third cheapest Jeep model to insure is the Jeep Grand Cherokee. The Grand Cherokee has an average annual premium of $1,789 and the highest starting price on the list at $42,830. The older sibling of the Jeep Cherokee has a bit more power and off-roading capabilities and is recommended for those driving in bustling cities.
10. Chevrolet Equinox
Rounding out the list of cheapest cars to insure is the Chevrolet Equinox. The Equinox has an average annual premium of $1,795 and a monthly average of $150. The Chevy Equinox has multiple safety features that contribute to its lower premium and 5-Star Safety Rating, like Lane-Keep Assist and Forward Collision Warning. The Equinox’s pricing starts at $27,995.
Tips to get cheaper auto insurance
Looking for cheaper auto insurance? There are several ways to lower your auto insurance rate. Some ways to consider include:
- Maintain a clean driving record: Your premium is substantially impacted by moving violations, negligent accidents, and serious offenses like DUI convictions. If you can avoid them, you’ll most likely maintain a lower insurance rate than those who have added points to their driving record.
- Choose a safe vehicle: As seen above, insurance premiums range depending on the make and model of your vehicle. The safer the car, the lower your insurance cost will likely be. Older makes and models also tend to be cheaper to insure than newer versions.
- Use discounts: Most large insurers provide at least a couple of car insurance discounts, which are a simple approach to lowering your cost. Using all available discounts could result in a reduction in total price.
- Gather multiple quotes: The cost of auto insurance varies among insurers, even for the same policy and vehicle, because automobile insurance firms estimate risk differently. You can compare prices and locate the best deal by shopping around.
Below are answers to commonly asked questions about how your car can affect auto insurance premiums.
Why does the car you drive affect your insurance rates?
When an insurance provider sets a premium for a vehicle, the premium is based on the probability that the driver will need to file a claim in the event of an accident.
That’s why certain cars like sports cars, which are more accident-prone due to their high-performance engines, are more expensive to insure. Vehicles that cost more to repair also have higher insurance rates to cover comprehensive and collision insurance claims.
On the flip side, vehicles with great safety features like advanced airbags and rearview cameras may lower your insurance rate since these features can reduce the severity and frequency of an accident.
How do I lower my car insurance premium?
One way to lower your car insurance premium is by buying a cheaper vehicle with an adequate safety rating, like the ones listed above. Other easy ways to lower your insurance premium are by maintaining a clean driving record, comparing insurance provider quotes, and seeing which companies will provide discounts.
In most states, insurance providers will also look at credit scores when determining a customer’s insurance rate, so maintaining a good credit score can help with getting cheap car insurance.
Are newer or older cars cheaper to insure?
Generally, older years of the same make and model are cheaper to insure than the newest year model. A vehicle depreciates in value over time, which decreases the maximum amount of financial coverage insurance providers offer when an accident claim is filed.
However, this can also depend on the specific make and model, state, and available auto insurance coverage.
Ready to continue your insurance search? We can help you by providing car insurance quotes to find the lowest rates with the best coverage.