What are the Cheapest Cars to Insure?

By the Mercury Team

Sedans are the “go-to” vehicle for many Gen Z, Millennial and Gen X1 drivers due to their affordable purchase price and savings at the gas pump. Cars and sedans continue to be more fuel efficient than SUVs and are considered easier to drive since they aren’t as top-heavy. When maneuvering around sharp street corners, cars tend to stick to the ground better. It’s also much easier to find and fit a smaller vehicle into a parking spot than a truck or SUV. Additionally, cars feature closed trunks, which offers more safety in terms of both visibility and security when storing your valuables. These attributes make car ownership more desirable to those purchasing a vehicle for the first time.

“An important aspect of researching the ideal vehicle is to consider the total cost of ownership, including insurance,” said Chong Gao, Director of Product Management R&D for Mercury Insurance. “For example, some vehicles have lower repair costs, which means they might also cost less to insure. Mercury has put together this list to help savvy vehicle shoppers know where savings can be found.”

What Makes a Vehicle Expensive to Insure

There are several factors that insurance companies consider when determining the cost of insuring a vehicle:

• Make and model: Luxury cars and sports cars are typically more expensive to insure because they’re more expensive to repair or replace.
• Age: New cars are usually more expensive to insure than older models, mainly due to the higher replacement cost.
• High performance: Vehicles that boast high performance are often associated with a higher risk of accidents due to the potential for speeding and aggressive driving.
• Safety features: Cars with advanced safety features and good crash-test ratings may receive discounts on insurance, while those lacking these features may have higher premiums.
• Susceptibility to theft: Some models are more likely to be stolen than others, making them more expensive to insure.

Cheapest Vehicles to Insure

What is the cheapest car to insure? According to Bankrate² and Value Penguin³, the Honda CR-V, Subaru Outback, Jeep Wrangler, Toyota RAV4, and Ford F-150 are some of the cheapest cars to insure in 2024. The average monthly rate among all models is $274³.

Bankrate’s Cheapest Cars to Insure in 2024

1. Subaru Outback
2. Honda CR-V
3. Honda Pilot
4. Ford Escape
5. Honda Odyssey
6. Ford F-150
7. Jeep Wrangler
8. GMC Sierra 1500
9. Toyota RAV4
10. Nissan Rogue

Value Penguin’s Cheapest Cars to Insure in 2024

1. Honda CR-V
2. Mazda CX-5
3. Jeep Wrangler
4. Subaru Outback
5. Toyota Tacoma
6. Chrysler Pacifica
7. Toyota Highlander
8. Subaru Crosstrek
9. Toyota RAV4
10. Ford F-150

Cheapest Sports Cars to Insure

Sales of sports cars are also seeing growth among young drivers. While sports cars are typically some of the most expensive vehicles to insure due to higher horsepower, costlier repairs, and other factors, not all sports cars are created equal in the eyes of insurance.

“Sports car enthusiasts spend ample amounts of time looking for the perfect vehicle,” said Gao. “Insurance costs are a vital part of that research, so we scanned the industry to put together a list of the most affordable sports cars to insure.”

According to Value Penguin⁴, the following are the cheapest sports cars to insure in 2024. The average monthly rate is $305 among all models.

1. Mazda Miata
2. Nissan Z
3. Subaru WRX
4. Toyota Supra
5. Toyota GR86
6. Subaru BRZ
7. Kia Stinger
8. Dodge Charger
9. BMW Z4
10. Chevrolet Camaro

Mercury offers affordable car insurance without sacrificing quality support and service. Talk with an agent today to help you find cheap car insurance.