The Cheapest and Most Expensive Vehicles to Insure

Car ownership is a significant investment, with costs stretching far beyond the vehicle's initial price tag. One of the most substantial long-term expenses is insurance, a financial safeguard that can be a lifesaver or a significant drain, depending on the vehicle you choose. Understanding the relationship between the car you drive and the cost to insure it isn't just prudent; it's a vital aspect of being a savvy and informed car owner.

In this comprehensive guide, we'll explore the connection between insurance premiums and the vehicle you select, shedding light on the cheapest and most expensive cars to insure and providing practical tips for reducing your insurance costs.

Factors Influencing Insurance Costs

Before we dive into specific vehicle models, it's crucial to grasp the factors that insurance companies consider when determining your premium. These factors are not arbitrary; they are rooted in statistical analysis and risk assessment.

Vehicle Type and Usage

The size and type of your vehicle can have a substantial impact on your insurance costs. Generally, larger cars like SUVs and trucks tend to be more expensive to insure due to their potential to cause more severe damage in a collision. Conversely, small-to-midsize sedans often come with lower insurance premiums.

The purpose for which you use your car influences costs too. Commuting long distances or using your car for business can increase your premium since you're more likely to be on the road and thus at a higher risk for accidents.

Safety and Anti-Theft Features

Modern vehicles are equipped with an array of safety features such as airbags, anti-lock brake systems, and forward-collision warning systems. Cars with these features enjoy lower premiums as they reduce the likelihood and severity of accidents.

Similarly, anti-theft features like alarm systems and tracking devices can lower your insurance rates by deterring theft or aiding in recovery.

Repair Costs and Vehicle Value

If your car is expensive to repair or replace, your insurance company will charge accordingly. Luxury vehicles, for example, have higher parts and labor costs and, consequently, require higher premiums.

Additionally, the value of your car contributes to your premium. The more expensive your vehicle, the more it will cost to insure.

Cheapest Vehicles to Insure

A handful of vehicles stand out for their affordability not just at the dealership but also at the insurance counter. We've compiled a list of the top budget-friendly cars that offer the lowest insurance premiums without compromising on safety features.

Compact and Midsize Sedans

Compact cars like the Honda Civic and the Toyota Corolla consistently rank among the cheapest to insure. They boast excellent safety ratings and are not known for high speeds or risky driving profiles, which insurance companies favor.

Midsize sedans such as the Ford Fusion and the Hyundai Sonata offer a slightly larger frame with similarly impressive safety and insurance profiles.

Subcompact Crossovers

The burgeoning class of subcompact crossovers, including the Honda HR-V and the Kia Soul, have carved out a niche as cost-efficient and insurance-friendly vehicles. Their higher ground clearance and additional safety technology make them attractive to insurers and drivers alike.

Most Expensive Vehicles to Insure

At the opposite end of the spectrum are vehicles with the highest insurance premiums, often exorbitant due to their performance, luxury, and associated risks.

High-Performance Sports Cars

Models like the Chevrolet Corvette, the Dodge Viper, and the Ford Mustang GT500 are designed for speed and thrill, but this characteristic is a significant red flag for insurers. Fast cars are involved in more accidents and more severe collisions, resulting in dramatically higher insurance rates.

Luxury and Exotic Vehicles

Owning a luxury car like the BMW 7 Series or a supercar like the Lamborghini Aventador is a statement of wealth and style, but it also comes with a hefty insurance bill. The rare parts, specialized repairs, and theft-attracting cachet all contribute to these vehicles' towering insurance costs.

Tips to Lower Insurance Costs

Even if you've already purchased a vehicle, there are steps you can take to manage and reduce your insurance premiums.

Opt for Higher Deductibles

Choosing a higher deductible means you'll have to pay more out of pocket in the event of a claim, but it also lowers your monthly premium. This option is best for financially secure drivers who can comfortably manage the cost of a higher deductible.

Maintain a Good Driving Record

One of the most impactful ways to keep your insurance costs down is to maintain a clean driving record. Tickets, accidents, and DUIs all negatively affect your driving profile and subsequently raise your insurance rates.

Take Advantage of Discounts

Insurance providers often offer discounts for various reasons, such as being a safe driver, having multiple policies with the same company, or being a member of a certain organization.

Consider Bundling Your Policies

If you have multiple insurance needs—like homeowners or renters insurance—consider bundling them with your auto insurance. This can lead to significant savings through multi-policy discounts.

Invest in Anti-Theft Devices

Installing anti-theft devices in your vehicle not only protects your car but can also lower your insurance premium. Alarm systems, steering-wheel locks, and even GPS tracking are all options that can demonstrate to your insurer that your vehicle is less susceptible to theft.

Real-World Examples and Case Studies

Case studies and real-world examples provide practical insights into how vehicle choice directly affects insurance costs.

Compact Car vs. SUV Analysis

In a study comparing insurance quotes for a 2019 Honda Civic and a 2019 Toyota RAV4, the differences were telling. Despite the RAV4's slightly higher sticker price, it was the Civic that had the lower annual premium due to its smaller size, better safety ratings, and lower theft risk.

Luxury vs. Non-Luxury Sedans

For a 2019 Honda Accord and a 2019 BMW 3 Series, the BMW's luxury status led to nearly double the insurance cost of the Honda, even though the two cars had comparable safety features and ratings.

Impact of Anti-Theft Devices

Equipping a 2020 Ford F-150 with an anti-theft device significantly reduced the insurance premium. This example underlines the power of security features in influencing insurance costs.

Expert Quotes and Insights

Insights from industry professionals can provide valuable perspectives on the nuances of insurance costs and the role of the vehicle in that equation.

An Insurance Agent advises, "When considering a vehicle purchase, always check with your insurance agent. An expensive car might not always equate to high insurance, and sometimes a safe vehicle provides significant savings."

A Car Safety Expert shares, "The vehicles equipped with advanced safety features and up-to-date safety technology are indeed cheaper to insure. But remember, no car or technology is a substitute for safe, responsible driving."

An Auto Industry Analyst adds, "It's not just the safety and theft features that matter. The car's repair costs, frequency, and the cost of spare parts also play a role in driving up the premiums."


Insurance premiums can vary dramatically depending on the vehicle you drive. While the make, model, and year of your car are factors you can't change once you've made the purchase, understanding their impact on your insurance is a crucial consideration when buying a new car or seeking to lower your current premiums.

Considering safety, repair costs, and other features that affect your car's insurability is an intelligent investment in your financial future. By being mindful of these factors and the strategies for cost control, you can drive with confidence—both on the road and in your budget. Whether you're in the market for a new car or you're looking to make changes to your current insurance policy, the insights in this post can help you make informed decisions that will lead to long-term savings and peace of mind.