The Cheapest SUVs to Insure

The Cheapest SUVs to Insure

The cheapest SUV to insure is the Honda CR-V. It costs $2,346 on average to insure, which is 21% cheaper than the overall average SUV insurance cost of $2,975 per year for full coverage. In general, we also found that the small, low-cost SUVs generally have the lowest car insurance rates.

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SUV insurance rate comparison

The Honda HR-V and the Chevrolet Traverse rank close behind the Honda CR-V for cheap insurance. The average policy cost across these three vehicles is $2,703 per year for full coverage — 10% less than the average across all of the vehicles we considered.

Cost rank
Annual insurance cost
MSRP (2021)
1Honda CR-V$2,669$25,350
2Honda HR-V$2,681$21,220
3Chevrolet Traverse$2,760$29,800
4Mazda CX-5$2,792$25,370
5Honda Pilot$2,811$32,550
6Ford Escape$2,840$25,555
7Chevrolet Equinox$2,842$23,800
8Volkswagen Tiguan$2,904$25,245
9Subaru Outback$2,910$26,795
10Subaru Forester$2,913$24,795
11Jeep Wrangler$2,969$29,370
12Toyota RAV4$3,015$26,350
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Smaller SUVs are less expensive to insure

Insurance costs for smaller SUVs are $198 less per year than the insurance costs for larger ones. SUVs under 106.5 inches long (the median among vehicles we considered) have an average insurance cost of $2,893, while longer ones cost $3,091 to insure per year.

Furthermore, two out of three SUVs with the highest car insurance premiums (the Jeep Grand Cherokee and Toyota 4Runner) are "standard-sized" SUVs, according to the size classifications of the Environmental Protection Agency (EPA) — and the third is the Tesla Model Y, which is expensive to insure for other reasons, including the fact that it's an electric vehicle.

Cheaper SUVs have lower auto insurance rates

The SUVs with the lowest 2021 MSRP also have more affordable insurance. Our analysis found insurance rates for the five cheapest SUVs are 11% lower than they are for the five most expensive vehicles.

5 most expensive SUVs

Annual insurance cost
MSRP
Average insurance cost among models
Average MSRP among models
1Tesla Model Y$4,296$39,990$3,269$35,463
2Toyota 4Runner$3,153$36,765
3Toyota Highlander$3,046$35,085
4Ford Explorer$3,037$32,925
5Honda Pilot$2,811$32,550

5 cheapest SUVs

Annual insurance cost
MSRP
Average insurance cost among models
Average MSRP among models
1Honda HR-V$2,681$21,220$2,875$23,752
2Hyundai Tucson$3,037$23,700
3Chevrolet Equinox$2,842$23,800
4Subaru Forester$2,913$24,795
5Volkswagen Tiguan$2,904$25,245

The main reason cheaper SUVs have lower auto insurance premiums is that claims for comprehensive and collision insurance are less expensive. This type of insurance coverage pays for repairs and replacement for your vehicle, which are typically more expensive for costlier SUVs.

What's the most expensive SUV to insure?

Among the most popular SUVs for sale in the United States, the three costliest SUVs to insure are the Tesla Model Y, Toyota 4Runner and Jeep Grand Cherokee.

These vehicles are all larger and more expensive than an average SUV, which may lead to higher insurance costs.

The most expensive SUVs to insure

Tesla Model Y
$4,296
Toyota 4Runner$3,153
Jeep Grand Cherokee$3,090

The Tesla Model Y is notably an electric vehicle that's relatively newly released. Unlike the 4Runner and Grand Cherokee, both of which have been available for decades, the Model Y has only been for sale for a few years. That means replacement part availability for the Model Y is very low compared to more-established vehicles.

The Model Y also has a high degree of technology built into it, from the large 15-inch touch screen to advanced driving-assist features, which increases the cost of repairs.

Best insurance companies for SUV drivers

State Farm consistently provides the cheapest rates for SUV insurance in our sample state of Illinois. Insurance quotes from this company are 53% cheaper than the average car insurance cost across all of the companies we surveyed.

Insurers tend to evaluate the safety factors of individual vehicles in a similar manner, but it's still worth comparing your own quotes, as every driver will get their own quotes based on their driving history and other personal details.

The Cheapest Auto Insurance Companies for SUVs

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Shopping around to find the cheapest insurer to cover your SUV could save you an average of 40% on your car insurance premiums. Given that we found the average SUV insurer to offer rates of $2,984 per year, this adds up to an annual cost difference of $1,183 per year.

Vehicle
Cheapest insurer
Cheapest insurance cost
Difference from average
Chevrolet EquinoxState Farm$1,316-54%
Chevrolet TraverseState Farm$1,390-50%
Ford EscapeState Farm$1,361-52%
Ford ExplorerState Farm$1,423-53%
Honda CR-VState Farm$1,265-53%
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Are SUVs more expensive to insure than other vehicles?

The conventional wisdom is that big vehicles, such as SUVs and trucks, are more costly to insure. However, small, crossover SUVs have insurance rates among the cheapest of any vehicle type — including compact cars. Larger SUVs, on the other hand, have higher rates for auto coverage.

While these vehicles may be safer for their passengers, their size poses an increased risk to other motorists. Because of this, the liability portion of the car insurance premiums for standard-size SUVs is typically more expensive.

Average Car Insurance Costs by Vehicle Type

Methodology

We gathered quotes from six major insurers — Allstate, American Family, Farmers, Geico, Progressive and State Farm — for a 30-year-old male with a clean driving record living in Illinois. All quotes are state averages.

The insurance prices represent the total cost for full coverage policies with liability coverage limits above the state minimums. Vehicle MSRPs were obtained from CarGurus, and car types are based on the EPA's vehicle size designations.

ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.