The Cheapest Cars to Insure in 2024

The Tesla Model Y SUV and Model 3 sedan are among the most expensive cars to insure. In general, smaller pickups and small SUVs cost less to cover, while larger sedans and SUVs cost the most.

Car insurance costs are higher for certain cars for various reasons — a car with high repair costs, a poor safety record or few anti-theft features will likely cost more to cover.

What's the cheapest car to insure?

The Honda CR-V is the cheapest car to insure out of the top-selling vehicles, with an average monthly auto insurance cost of $238.

This is 16% less than the average cost across all vehicles analyzed. The CR-V's insurance cost is $163 less per month than the cost for the most expensive car to insure — the Tesla Model 3.

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Cheapest cars to insure

Vehicles with values between $26,000 and $32,000 have the lowest auto insurance rates. At $255 per month on average, they cost 6% less to insure than the cheapest cars, or those valued at less than $25,000.

By contrast, the more expensive cars — with values of more than $38,000 — cost the most to insure, with an average monthly car insurance rate of $308. This group includes the Tesla Model Y and Model 3 — two of the most expensive cars to insure.

Cheapest car models to insure by car type

Auto shoppers will most likely have a specific type of vehicle that they are looking for when buying a new car. For example, if you need a vehicle that can hold a lot of passengers, you are more likely to look at SUVs or minivans.

Which car make is the cheapest to insure?

Certain car makes tend to be more expensive to insure than others. For example, a Mazda tends to be cheaper to insure when compared to a luxury brand such as Tesla.

The cheapest car type to insure

The size and shape of your car impact the cost of insuring it. Generally, a car with a more powerful engine and more extras will cost more to insure. Electric vehicles also often cost more to insure than cars with gasoline engines.

Average cost to insure a car by body type

Why does the car you drive affect your insurance rates?

Insurance companies set their rates based on the chance that a driver of a certain vehicle will file a claim and the expected cost of a claim should that vehicle be involved in an accident.

This is why sports cars, which are more likely to be involved in accidents, are often more expensive to insure.

Vehicles that cost more to repair — or have high market values — will also often have higher insurance prices. This is because insurance companies anticipate having to pay out more for a comprehensive or collision insurance claim, which covers the cost to repair or replace your vehicle. It is also part of the reason car insurance rates may decrease as your car ages — increased availability of replacement parts can make a repair cheaper.

However, newer, more sophisticated safety features, such as blind-spot detection or 360-degree cameras, may reduce your rates. These features may lower the chances or severity of a crash, especially when it comes to injuries. While vehicle damage claims are more common than bodily injury claims, the average payout for the latter is much higher.

Lastly, car theft also plays a role in your rates. Some cars are stolen more often than others, so your rates will probably be higher if you are driving one of those cars. However, drivers should keep in mind that there are many other factors at play that impact auto insurance rates, such as age and driving record.

Cheapest cars for young drivers to insure

For younger drivers, the Honda CR-V and Mazda CX-5 are the cheapest cars to cover. They're both about 13% cheaper than average for 21-year-olds.

Younger drivers tend to pay considerably more for coverage. On average, a 21-year-old pays 47% more than a 30-year-old driver.

The fact that young drivers pay more for coverage means the vehicle you choose could make even more of a difference on your bill. For example, opting for a CR-V instead of a Tesla Model 3 will save a 21-year-old $258 on their insurance bill each month. But a 30-year-old will save only $163 for the same choice.

Most expensive vehicles to insure

The Model 3 costs $401 per month to insure, while the Model Y costs $369 per month. The third-most expensive top-selling vehicle, the GMC Sierra 1500 truck, is more than 17% cheaper to insure than either Tesla.

If you want to keep your car insurance rates down, it's a good idea to avoid large sedans and pickup trucks. Those tend to be the most expensive vehicles to insure.

Insurance for electric vehicles also tends to be pricier, largely because they have more technology on board and are more expensive to repair.

Methodology: How we got our data

ValuePenguin gathered insurance quotes for the 2023 models of 25 of the top-selling cars of 2023 using sales for the first nine months of the year.

Sample rates are state averages in Illinois for a 30-year-old with good credit and a clean driving record. Rates for young drivers are for a 21-year-old. All quotes are for full coverage. We included rates from six of the largest insurance companies in the country: Allstate, American Family, Farmers, Geico, Progressive and State Farm.

EPA size categories were collected from fueleconomy.gov. Car MSRPs are from car manufacturer websites.