Is your vehicle on our list of cheapest cars to insure in 2020? From your current car to shopping for a new one, everyone wants to save money. To get the best price possible, you should be driving one of the least expensive cars to insure. If you expect to be looking soon, knowing which cars are ranked lowest by insurance companies will help you save $100s, or even $1000s!
Auto insurance rates vary depending on many factors, including the type of car, truck, van, motorcycle, or another vehicle. The following list is our opinion on the cheapest cars to insure in 2020.
10 Least expensive cars to insure:
- Honda Odyssey LX
- Jeep Wrangler Sport
- Subaru Outback 2.5i
- Mazda CX-3 Sport
- Honda HR-V LX
- Honda CR-V LX
- Jeep Renegade Sport
- Ford Escape S
- Subaru Forester 2.5i
- Jeep Compass Sport
Cheapest Cars to Insure in 2020
|Rank||Make and Model||Average Annual Cost to Insure|
|1.||Honda Odyssey LX||$1,297|
|2.||Jeep Wrangler Sport||$1,303|
|3.||Subaru Outback 2.5i||$1,305|
|4.||Mazda CX-3 Sport||$1,306|
|5.||Honda HR-V LX||$1,324|
|6.||Honda CR-V LX||$1,332|
|7.||Jeep Renegade Sport||$1,337|
|8.||Ford Escape S||$1,345|
|9.||Subaru Forester 2.5i||$1,346|
|10.||Jeep Compass Sport||$1,348|
|11.||Mazda CX-5 Sport||$1,351|
|13.||Buick Encore 1SV||$1,353|
|14.||Honda Fit LX||$1,357|
|15.||Nissan Frontier S||$1,360|
|16.||Jeep Cherokee Latitude||$1,360|
|17.||Dodge Grand Caravan SE||$1,362|
|18.||Ford Transit Connect SL||$1,365|
|19.||GMC Canyon SL||$1,370|
|20.||Chevrolet Traverse L||$1,375|
Cheapest Cars to Insure by Make
The list of car makes (brands) to choose from in the United States is long, including domestic and imports. This raises the question, which one is the least expensive to insure?
Mercedes and Tesla top the charts, but let’s take a look at how the following 14 car makes compare:
|Rank||Make||Average Annual Cost to Insure|
Cheapest Cars to Insure by Model
When shopping for a car, it’s common to have a type in mind before looking. It may be a car or SUV. Below is a list of the Cheapest auto insurance by type:
|Car Type||Cheapest Model||Average Annual Cost to Insure|
|Small SUVs||Honda CR-V||$2,345|
|Pick-up Truck||Ford F-150||$2,470|
|Small Pick-up Truck||Chevy Colorado||$2,560|
|Subcompact Car||Ford Fiesta||$2,620|
|Station Wagon||Honda Fit||$2,719|
|Compact Car||Chevy Cruze||$2,840|
|Standard SUV||Chevy Tahoe||$2,885|
|Large Sedan||Chevrolet Impala||$3,000|
|Midsize Sedan||Toyota Camry||$3,035|
Commonly Asked Auto Insurance Questions:
Why are auto insurance quotes so different?
Auto insurance companies set rates based on many factors, but all these factors come down to one thing, predicting the average chance a driver for a specific car will be in an accident or file an accident claim. When insurance companies notice drivers of a certain make, model, etc. have a high claim rate – the auto insurance quote will be higher for everyone driving that specific car.
For example, sports cars are often in more accidents than minivans, so their quotes are higher. In addition, cars with frequent or higher repair costs will commonly be higher to insure. They are anticipating the higher expense of comprehensive and collision insurance claims (repairing or replacing the car when damaged). Theft, age, in some cases, even the paint color, will affect the final auto insurance quote.
What factors into car insurance costs?
A long list of factors is used for determining individual auto insurance premiums, in addition to the type of car you’re driving. According to BankRate, these are some of those factors:
- Driving activity
- Driving record
- Vehicle safety rating
- Vehicle size
- Where you’re located
- Safety and Anti-theft devices
- Credit history (in some areas)
- Age, marital status, and gender
Policy options also influence the final insurance premiums. For instance, higher deductibles will lower the premium pricing, but increase your out of pocket expense for repairs. You should check with your auto lender to see if they have limits.
Check out our article ‘how much does car insurance cost?‘ to learn more.
How does trim levels impact your car insurance rates?
Car models often come with various trim options available. These options can include upgrades for the radio, seats, interior, exterior, even performance. By adding these extra features, it can increase insurance rates: high-tech safety equipment, upgraded engines, and other features increase potential repair costs. Also, insurance companies consider more powerful engines to increase the risk of speeding and accidents.
By opting out of the premium audio system and GPS systems, you may save $100s a year on auto insurance.
Trim levels are car manufacturers’ approach to bundle features at different price points. For example:
Toyota Camry’s base trim (L) would be the cheapest trim level, and cheapest to insure. Additional trim levels available include:
The higher the trim level, the more features available for the driver. But, the higher the sticker price and insurance rate will be.
What cars should I avoid for cheaper auto insurance premiums?
According to NerdWallet, if you are looking for cheap auto insurance, you should avoid purchasing the following types of vehicles.
High-end Luxury Cars
These are often more expensive to repair, frequently requiring a certain dealership. Parts also cost more, which causes insurance rates to be just as expensive.
Obviously, the insurance company’s see a lot of claims from sports cars. There are many factors behind the higher insurance prices, from expensive parts and repairs to increased risk of speeding.
Yes, believe it or not, you should avoid electric vehicles if you’re trying to save on insurance premiums. It costs $1000s just to replace the EV battery.
Commonly Stolen Cars
Live in an area with a lot of car thefts? Avoid purchasing cars most targeted by thieves. Otherwise, this will increase rates because comprehensive insurance policies cover stolen vehicles, vandalism, floods, fires, etc.
Contact your insurance company, even the police station to find out what the most stolen vehicle makes are in your area.
I was in an accident, can I still get cheap auto insurance?
Yes, but it depends on a few factors. Who was at fault? How much damage was there? Are you driving one of the makes/models from our list of cheapest cars to insure? However, to determine all your options, contact your insurance company and ask if they have any available discounts that can help lower your premium rates, such as completing a defensive driving course.
I got a ticket for no insurance, can I still get cheap auto insurance?
It depends on many things, this can have a big impact on your rates. However, driving one of the cars on our list is a step towards cheaper auto insurance after driving without insurance. Compare quotes from multiple insurance companies to get the best quote for you.