Key Takeaways
- While Subaru is the cheapest car brand to insure at $2,224 per year or $185 monthly, Ford, Honda and Toyota all check in with average full-coverage rates below $2,500 per year.
- SUVs are the most affordable type of car to insure based on our rate data.
- The average cost of car insurance for full coverage depends on the vehicle, policy details and driver profile.
In addition to reviewing the best car insurance companies, we at the MarketWatch Guides team have researched the country’s most popular vehicles to figure out how to find cheap car insurance no matter what make and model you purchase.
In order to help you find the most affordable rates for auto coverage, our team looked over hundreds of rate estimates from dozens of providers using cost estimate data from Quadrant Information Services.
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Cheapest Cars To Insure in 2024
Based on our research, Subaru vehicles are typically the least expensive to insure. Owners of Ford, Honda and Toyota vehicles can also find affordable car insurance.
In the sections below, we’ll look at the cheapest makes and models to insure. The table below shows the average rates for 2021 through 2024 models from the most popular automakers on the market. All rate estimates are based on a 35-year-old driver with a clean driving record and good credit.
Cheapest Cars To Insure by Make
Based on our research, the least expensive cars to insure are made by Subaru, Ford and Honda. See how 10 popular automakers compare below:
| Automaker | Annual Full-Coverage Cost | Monthly Full-Coverage Cost |
|---|---|---|
| 1. Subaru | $2,224 | $185 |
| 2. Ford | $2,299 | $192 |
| 3. Honda | $2,395 | $200 |
| 4. Toyota | $2,456 | $205 |
| 5. Chevrolet | $2,513 | $209 |
| 6. Nissan | $2,603 | $217 |
| 7. Hyundai | $2,625 | $219 |
| 8. Kia | $2,721 | $227 |
| 9. GMC | $3,062 | $255 |
| 10. Tesla | $4,098 | $342 |
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Cheapest Cars To Insure by Model
Below are 32 models ranked cheapest to most expensive to insure in 2024:
| Vehicle Model | Annual Full-Coverage Cost | Monthly Full-Coverage Cost |
|---|---|---|
| 2021 Ford Bronco | $2,192 | $183 |
| 2021 Subaru Crosstrek | $2,214 | $185 |
| 2021 Honda CRV Hybrid | $2,223 | $185 |
| 2021 Subaru Impreza | $2,233 | $186 |
| 2021 Chevy Equinox | $2,253 | $188 |
| 2021 Ford Escape Hybrid | $2,266 | $189 |
| 2021 Kia Sportage | $2,298 | $192 |
| 2021 Toyota Rav4 | $2,325 | $194 |
| 2021 Nissan Frontier | $2,396 | $200 |
| 2021 GMC Sierra | $2,418 | $202 |
| 2021 Ford F150 | $2,438 | $203 |
| 2021 Honda Ridgeline | $2,455 | $205 |
| 2021 Chevy Silverado | $2,458 | $205 |
| 2021 Toyota Tacoma | $2,460 | $205 |
| 2021 Hyundai Santa Fe | $2,486 | $207 |
| 2021 Honda Civic | $2,507 | $209 |
| 2021 Nissan Rogue | $2,517 | $210 |
| 2021 Nissan Leaf | $2,519 | $210 |
| 2021 GMC Acadia | $2,546 | $212 |
| 2021 Toyota Prius | $2,582 | $215 |
| 2021 Chevy Malibu | $2,602 | $217 |
| 2021 Hyundai Elantra | $2,681 | $223 |
| 2021 Hyundai Ioniq | $2,709 | $226 |
| 2024 Chevy Silverado EV | $2,740 | $228 |
| 2021 Kia Forte | $2,799 | $233 |
| 2021 Nissan Altima | $2,981 | $248 |
| 2022 Kia EV6 2022 | $3,067 | $256 |
| 2021 Tesla Model Y | $3,426 | $286 |
| 2021 Tesla Model 3 | $3,664 | $305 |
| 2022 GMC Hummer EV 2022 | $4,221 | $352 |
| 2021 Tesla Model X | $4,516 | $376 |
| 2021 Tesla Model S | $4,786 | $399 |
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Cheapest Vehicle Types To Insure
Looking at averages for different types of vehicles, we found SUVs and hybrids to be the most affordable to insure.
| Vehicle Type | Annual Full-Coverage Cost | Monthly Full-Coverage Cost |
|---|---|---|
| SUV | $2,339 | $195 |
| Hybrid | $2,357 | $196 |
| Truck | $2,439 | $203 |
| Sedan | $2,635 | $220 |
| EV | $3,520 | $293 |
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The types of cars with the cheapest auto insurance rates typically have these characteristics:
- Are easy to drive
- Have standard components
- Perform well in safety tests
- Cause little damage to others in accidents
- Offer considerable protection to passengers in accidents
Factors That Affect the Cheapest Cars To Insure
There are many factors that affect which cars are the cheapest to insure. These include vehicle model details, auto insurance coverage choices and your personal driving profile. In the sections below, we break down the factors that go into determining car insurance premiums, and how you can reduce your costs.
Vehicle Factors That Affect Car Insurance Rates
Even if you don’t select one of the cheaper models listed above, it’s possible to find affordable auto coverage rates. Car insurance companies consider the following factors when setting premiums:
- Vehicle age: Most people assume older cars receive cheaper auto insurance coverage, but that’s not always the case. Some new cars receive lower premiums due to added safety features, though this is often balanced out by higher repair costs.
- Type of vehicle: Small SUVs and minivans generally receive lower auto insurance rates, while sedans and large SUVs cost more to insure. Cheap car insurance is difficult to find for those with pickup trucks, electric vehicles, luxury models and sports cars.
- Trim level: The nicer your car’s trim level, the pricier your auto coverage will likely be. That’s because premium models have features that cost more to replace.
- Safety features: If your car gets high safety ratings from the National Highway Traffic Safety Administration and Insurance Institute for Highway Safety, it will probably have lower insurance rates. Safety features such as airbags, anti-lock brakes and seat belts will also reduce your car insurance costs.
- Car theft rates: Certain car models are stolen more frequently than others, as indicated by an annual study from the National Insurance Crime Bureau (NICB). Vehicles that are commonly targeted by thieves will likely have more expensive auto insurance policies.
Choices That Affect Car Insurance Rates
Some decisions a driver makes can influence the cost of their car insurance. Here’s a look at a few of those factors:
- Coverage level: Minimum coverage on your vehicle will cost less than full-coverage car insurance. However, in the event of an accident, you’ll receive less protection for your car if you opt for the state minimum-coverage limit.
- Deductible amount: Those with high deductibles receive lower rates for auto insurance, but they also pay more out of pocket when damages occur.
- Bundled policies: You could pay a lower price if you put other types of insurance, such as homeowners or renters coverage, under the same policy as your car coverage.
- Annual mileage: Insurance companies typically charge lower rates for policyholders who don’t drive as much since spending less time on the road makes them less likely to get into accidents.
Personal Factors That Affect Car Insurance Rates
If personal factors indicate that you’re a high-risk driver, even the cars with the cheapest auto insurance rates can be expensive to insure. Below are some characteristics that often lead to increased car insurance premiums, depending on the state you live in:
- Driving record: If your driving history contains a recent accident, speeding ticket or DUI, expect to pay significantly more for car insurance. The cheapest rates are usually given to those without traffic violations or recent insurance claims.
- Age, gender and marital status: Teen drivers, younger male drivers and singles of both genders typically pay more for auto insurance, since insurers see these groups as more likely to file claims.
- Credit score: Those with poor credit receive high car insurance quotes because providers consider them high-risk drivers. Drivers with low credit scores often pay even higher rates than those with speeding tickets and at-fault accidents.
- Location: You’ll pay more if you live in an area with high crime, high rates of uninsured drivers or a large number of accidents. Those in urban areas like New York City or southern California typically pay higher rates than residents of rural regions.
Having good credit and a clean driving record can make it easier to get cheap car insurance. While the cars with the cheapest auto insurance rates may have lower costs, if your record indicates potential risks, coverage will likely still cost more than the national average.
Car Insurance Discounts To Help Reduce Rates
You may find cheaper premiums by carefully considering car insurance discounts. Below, we’ll look at some common car insurance discounts that are offered by many providers.
Many providers offer the following discounts to help you save:
| Car Insurance Discounts | Discount Details |
|---|---|
| Safe driver discount | Gives lower premiums to those who’ve been accident-free for multiple years |
| Good student discount | Generally offers cheaper prices for full-time students with at least a B average |
| Multi-vehicle discount | Offers discounts to those who insure multiple cars under the same auto policy |
| Multi-policy discount | Reduces prices for motorists who bundle auto coverage with other insurance policies |
| Military discount | Rewards active-duty military members with lower insurance premiums |
| Vehicle safety features discount | Provides a discount for drivers with air bags, anti-lock brakes and anti-theft devices in their cars |
| Senior discount | Lowers rates for older motorists, typically 55 years old and older, especially after they take an approved driving course |
| Usage-based insurance discount | Tracks motorists’ driving habits and reduces rates for those who follow safe practices |
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It’s relatively simple to find savings opportunities when you’re selecting a car insurance policy. Since these are just some of the car insurance discounts on the market, contact your potential auto insurance provider to discover more ways to save.
Should I Pick the Cars That Are Cheapest To Insure?
While cost is important, we don’t recommend purchasing your car — or your car insurance policy — based on price alone. The cars with the cheapest auto insurance rates typically perform well in crash tests, but they aren’t necessarily the right models for everyone. And shockingly low rates could indicate that an insurer offers subpar coverage and targets drivers who want to save money.
While you’ll spend less by selecting your state’s minimum required coverage, consider your options and needs. Car insurance quotes will be cheaper if you reject comprehensive coverage and collision coverage, but bodily injury liability and property damage liability coverage won’t take care of your costs after an accident.
Cheapest Cars To Insure: The Bottom Line
In this article, we went over the cheapest cars to insure and some of the factors that go into determining your auto insurance rates. We also provided a list of discounts that can make insurance premiums even cheaper and discussed whether you should pick the cheapest option.
Our team recommends comparing quotes from multiple car insurance providers in order to get the best deal.
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Cars Cheapest To Insure: FAQ
Below are some frequently asked questions about the cheapest cars to insure:
Our data shows the 2021 Ford Bronco is the cheapest model to insure in 2024 with an average full-coverage cost of $2,192 per year or $183 per month. These estimates apply to 35-year-old drivers with good driving records and good credit.
Geico is one of the cheapest car insurance companies in the country, though rates vary by driver. To discover whether Geico is cheapest for you, compare car insurance quotes from Geico with quotes from companies like State Farm, USAA and Progressive.
Newer cars are often cheaper to insure due to their advanced safety features, but that’s not always the case. Because of expensive repairs and sophisticated components, some new vehicles cost more to insure than older vehicles.
No, automatic cars are usually more expensive to insure than manual vehicles. Automatics almost always have higher repair costs, which are passed on to drivers in the form of somewhat pricier insurance rates.
In general, the more expensive your vehicle is, the more expensive it will be to insure. This is because of the higher costs associated with repairs and replacements of parts. However, it’s not always the case that a less expensive vehicle will cost less to insure. In some cases, a less expensive car can cost more to insure depending on its age, make and mileage.
Insurance providers base rates on a variety of factors related to the vehicle, driver and policy details. Luxury cars or cars with an increased likelihood of theft, accidents or other claims are typically the most expensive cars to insure.
Our data shows that SUVs are a bit cheaper to insure than sedans in 2024. This may be because a larger vehicle can offer better protection for the driver and passengers.
Our Methodology
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
- Coverage (30% of total score): Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
- Cost and Discounts (25% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities are both taken into consideration.
- Industry Standing (20% of total score): Our research team considers market share, ratings from industry experts and years in business when giving this score.
- Customer Experience (15% of total score): This score is based on volume of complaints reported by the National Association of Insurance Commissioners (NAIC) and customer satisfaction ratings reported by J.D. Power. We also consider the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.
- Availability (10% of total score): Auto insurance companies with greater state availability and few eligibility requirements score highest in this category.
Our credentials:
- 800 hours researched
- 130+ companies reviewed
- 8,500+ consumers surveyed
*Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team at [email protected].
