Cheapest Vehicles to Insure
Having a car is a necessary (sometimes costly) facet of life for many Americans. Whether you own a sedan, SUV, van, or something in between, car ownership consists of a multitude of expenses like maintenance, repairs, and gas. Car insurance is another fee that vehicle owners pay, either on a monthly or yearly basis.
A variety of dynamics determine the annual cost you can expect to pay for insuring your vehicle:
- Which state you live in can impact your insurance rate. Current statistics indicate that Maine is the cheapest state to insure a car in, while Michigan ranks most expensive.
- Traffic tickets and bad credit can also drive up your auto insurance fees.
- Individuals with higher education can often receive a lower insurance rate. According to research from the National Center for Biotechnology Information (NCBI), drivers with more education tend to be in fewer car accidents.
- Insurance companies often give discounted auto insurance to married individuals. Per the Consumer Federation of America (CFA), research indicates that married drivers are in fewer collisions than single drivers.
Another component that impacts car insurance rate is your vehicle’s make and model. A lack of ignorance on this topic can significantly drive up your insurance fees, especially if you’re in the process of buying your next ride. Here are the top 10 cheapest vehicles to insure along with their average annual insurance cost:
1. Honda Odyssey; $1,112
2. Jeep Renegade Sport 2WD; $1,138
3. Jeep Wrangler Black Bear 4WD; $1,148
4. Honda CR-V; $1,170
5. Jeep Compass 2WD; $1,183
6. Subaru Outback 2.5L AWD; $1,187
7. Jeep Cherokee Sport 2WD; $1,188
8. Buick Encore 2WD; $1,190
9. Jeep Patriot Sport 2WD; $1,190
10. Subaru Forester 2.5i AWD; $1,196
Sources: Forbes, Auto Credit Express
Whitney Russell resides in Dayton, though her spirit can be found beach-bumming in Puerto Rico (the land of her half-Puerto Rican heritage). When not crafting car-related content, she can be found chasing after the most amazing toddler in the world, watching her “beaver” of a husband build amazing woodworking projects, hanging out with two crazy dogs, and visiting family and friends. She also enjoys traveling, crafting, and binge-watching period dramas when time allows. See more articles by Whitney.