The Cheapest Cars to Insure in 2021
The Cheapest Cars to Insure in 2021
The Honda CR-V, Chrysler Pacifica and Honda Odyssey are the cheapest cars to insure, offering annual savings of more than $1,000 compared to the most expensive models.
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Our research suggests that minivans and small trucks are, on average, the least expensive cars to insure when compared to other vehicles. Furthermore, large sedans have the most expensive car insurance across the industry.
Auto insurance costs are higher for certain vehicles for a variety of reasons — a car having high repair costs, a poor safety record or few anti-theft features will likely cost more to cover.
What is the least expensive car to insure?
We found that the Honda CR-V was the cheapest car to insure out of the 50 vehicles we considered, with an annual auto insurance cost of $2,346.
This is 22% less than the average yearly premium across all of the vehicles we surveyed. Furthermore, the CR-V's insurance cost was $2,397 less per year than the most expensive car to insure — the Tesla Model S.
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Rank | Car name | Car Type | MSRP | Cost per year |
|---|---|---|---|---|
| 1 | Honda CR-V | Small SUV | $25,102 | $2,346 |
| 2 | Chrysler Pacifica | Minivan | $21,996 | $2,416 |
| 3 | Honda Odyssey | Minivan | $26,391 | $2,457 |
| 4 | Ford F-Series | Standard pickup truck | $22,849 | $2,471 |
| 5 | Toyota RAV4 | Small SUV | $20,257 | $2,475 |
| 6 | Chevrolet Equinox | Small SUV | $19,837 | $2,560 |
| 7 | Chevrolet Colorado | Small pickup truck | $17,816 | $2,562 |
Our research shows having a cheaper vehicle does not always correlate with having lower insurance costs.
Vehicles with values between $25,000 and $30,000 actually had the lowest auto insurance rates at $2,871 per year on average — 6% less than the cheapest cars with values between $10,000 and $15,000.
However, the most expensive cars — with values of more than $30,000 — did cost the most to insure, with an average annual car insurance premium of $3,847.
>> LEARN MORE: The Average Cost of Car Insurance
Cheapest cars 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 passenger car, then you are more likely to look at SUVs or minivans.
Here are the most affordable models to insure for every car type we looked at.
Car type | Cheapest model | Average yearly rate |
|---|---|---|
| Small SUV | Honda CR-V | $2,346 |
| Minivan | Chrysler Pacifica | $2,416 |
| Standard pickup truck | Ford F-150 | $2,471 |
| Small pickup truck | Chevrolet Colorado | $2,562 |
| Subcompact car | Ford Fiesta | $2,621 |
| Station wagon | Honda Fit | $2,720 |
| Compact car | Chevrolet Cruze | $2,841 |
| Standard SUV | Chevrolet Tahoe | $2,888 |
| Large sedan | Chevrolet Impala | $3,001 |
| Midsize sedan | Toyota Camry | $3,036 |
>> LEARN MORE: Finding the Cheapest Car Insurance
Which car make is the least expensive to insure?
Americans have a ton of car makes and brands to choose from when it comes to shopping for a new vehicle. Our research found that certain car makes tend to be more expensive compared to others. For example, we found that a Honda or GMC tended to be cheaper to insure when compared to luxury brands such as Mercedes-Benz or Tesla.
>> LEARN MORE: How a Vehicle's Make and Model Impact Car Insurance Premiums
The cheapest car type to insure
Generally, one would think that large or fast cars would be more expensive to insure. However, standard size pickup trucks actually proved to be cheaper to insure on average than compact cars.
Below you can see which types of car are usually cheaper to insure:
Rank | Type of car | Average yearly rate |
|---|---|---|
| 1 | Minivan | $2,590 |
| 2 | Small pickup truck | $2,633 |
| 3 | Small SUV | $2,700 |
| 4 | Standard pickup truck | $2,808 |
| 5 | Station wagon | $3,029 |
| 6 | Midsize sedan | $3,114 |
| 7 | Compact car | $3,120 |
| 8 | Standard SUV | $3,250 |
| 9 | Subcompact car | $3,500 |
| 10 | Large sedan | $3,513 |
Why does the car you drive affect your insurance rates?
Insurers set their premiums based on the likelihood that a driver of a certain vehicle will get into an accident. If drivers of a particular type of car file claims at a higher rate — even if they have a good driving record — then they will have to pay more.
This is why sports cars, which are more likely to be involved in accidents because of their high performance, often are expensive to insure.
Vehicles that cost more to repair — or have high market values — will also often have higher insurance rates. This is because insurance companies anticipate having to pay out more for any comprehensive and collision insurance claims — which cover the cost to repair or replace your vehicle — for high-cost cars. Because of this heightened risk for insurers, they increase premiums.
Lastly, car theft also plays a role in your rates. Some cars are stolen more than others, so if you are driving one of those cars, your rates are probably going to be higher. However, drivers should keep in mind that there are many other factors at play that impact auto insurance rates, such as age.
>> LEARN MORE: Comparing Car Insurance Rates
Methodology: How we got our data
We gathered quotes from the four largest insurers — State Farm, Progressive, Geico and Allstate — for a 30-year-old male with a clean driving record living in each of the four largest metropolitan areas in the U.S.: New York, Los Angeles, Chicago and Dallas.
The insurance prices represent the total cost for full coverage policies with liability coverage limits above the state minimums. Average car values were obtained from CarGurus, and car types are based on the EPA's vehicle size designations.
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