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• Least Expensive Cars to Insure

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Car insurance quotes for the least expensive vehicles

Which are the cheapest vehicles to insure?

The insurance industry is all about estimating the "cost of risk". The actuaries collect information about every reported traffic accident in the US. They have records going back for decades drawn from the police, hospitals and all the claims we make. This shows the makes and models of the vehicles involved, the time of day, who was driving, what the road conditions were like, and so on. When you put all these reports together, it allows the insurers to calculate the risk that a driver just like you will be involved in an accident if you buy a particular make and model of car. Fixing the premium rates is a balance between who you are and what you drive.

Let’s take the Chrysler Town & Country LX as an example. This is what’s happily described as a minivan although it does manage to look like a small SUV. For the body weight, the three engine sizes are small. This lack of power means you cannot drive these vehicles fast. The brakes are reasonably reliable and there’s a good amount of metal around the passengers to keep them safe in a routine accident. So when you put all the statistics together, you get a picture of a safe vehicle. It’s also quite cheap to buy and the spares are affordable. In a recent survey, this was the cheapest vehicle to insure.

One of the largest online insurance sites looked at all the makes and models currently available to buy in showrooms. It assumed a driver of average age and no recent claims. The Chrysler was the cheapest to insure when all the quotes were averaged across every state in the union. The next four cars making up the top five of the least expensive to insure were Japanese and either made in the US or imported.

Perhaps you will not be surprised to know that the same survey showed the top five most expensive cars to insure were manufactured by either Mercedes or BMW. Car insurance quotes are based on the average cost of loss when a make and model is involved in an accident. The replacement parts for Japanese cars are cheap. Imported from Germany, replacement parts for the top-of-the-range sports cars and high-performance saloons are expensive and the labor to fit them well-paid. Hence the annual rates are three times more expensive for top-of-the range vehicles.