The cheapest cars to insure in 2024

The 10 cheapest cars to insure

Key takeaways

• The Subaru Outback, Honda CR-V and Toyota Tacoma are some of the cheapest cars to insure out of the 71 vehicles we reviewed.
• On average, SUVs and trucks are the cheapest vehicles to insure compared to sedans, minivans and sports cars. 
• The Audi R8 Quattro is one of the most expensive vehicles to insure out of the 71 vehicles assessed, with an average premium of $6,119 per year for full coverage.

If you were hoping for car insurance costs to dip in the coming year, you may be out of luck. Bankrate's analysis predicts that the cost of auto insurance will continue to increase through the end of 2024 and into 2025. But high insurance costs don’t impact all vehicles equally. Car insurance costs vary based on the make and model of the vehicle you drive, and some models are significantly cheaper to insure than others. 

Below, we showcase the 10 cheapest cars to insure based on our assessment of average rates for 71 vehicle makes and models. For comparison, the national average cost of car insurance is $2,458 per year for full coverage. We’ve included the average full coverage premium, as well as the starting manufacturer suggested retail price (MSRP), for each vehicle (remember that the MSRP will vary based on the trim package and optional features).

Learn more: Car Insurance Rates by Make and Model

Cheapest cars to insure by vehicle type

Finding the cheapest cars for insurance is one thing, but it doesn’t take into account your specific needs. Maybe you have your heart set on a fuel-efficient car to reduce your carbon footprint, an SUV with room for mountain bikes and camping gear, or a truck to haul lumber for yard and home projects. Rest assured, while it may take a bit more research, you can find cheap car insurance no matter what type of vehicle you’re looking for. Below, you’ll find the cheapest vehicles to insure categorized by cars, SUVs and trucks.

Keep in mind, though, that “cheap” is a relative term. In addition to personal factors that may influence insurance costs, such as age, gender, location, credit score and driving record, each vehicle presents unique rating factors that can also affect insurance premiums, like the price of repairs and accident risk.

Cheapest cars to insure

Cheapest SUVs to insure

Cheapest trucks to insure

What makes a vehicle expensive to insure?

It’s probably clear by now that the cost to insure different vehicles can vary greatly, but you may be wondering why. What makes a vehicle cheaper or more expensive, on average, to insure?

It all boils down to risk. Car insurance companies calculate premiums based on the risk of claims being filed and the potential severity of those claims. Several factors go into this assessment. For example, a vehicle that costs more to repair or replace will likely have a higher premium, since those features make a claim more expensive. A vehicle with a higher likelihood of accidents, like a sports car, would also likely have a higher premium.

Sometimes, an older, cheaper vehicle without modern safety features can also have high repair costs, which can lead to heftier car insurance rates. On the flip side, some higher-priced cars might have features like automatic braking, which can help avoid or lessen the severity of crashes. Features like those might lower your premium.

Some attributes of a vehicle that can affect the premium are:

• Age: The older the car, the cheaper it might be to insure compared to newer models due to a lower repair or replacement cost. However, older cars also tend to lack updated safety features, which can lower premiums on the cars that have them.
• Size: Bigger, heavier vehicles like mid- and full-size trucks or SUVs may be more capable of causing more damage on the road, leading to a higher auto insurance premium. On the other hand, they’re also less likely to sustain serious damage in collisions, which is why compact SUVs and trucks may be cheaper to insure than small passenger cars.
• Trim level: Upgraded features in a vehicle affect the purchase price and the cost of insurance.
• Safety features: Vehicles with safety features that reduce the risk of an accident, like blind-spot monitors, are often associated with cheaper insurance premiums.
• Security features: Anti-theft systems and other security features can decrease the odds that a vehicle is stolen, which may lower insurance premiums.
• High-end or luxury cars: The overall cost of these vehicles is higher than standard vehicles, so the expensive repair or replacement costs tend to drive up insurance rates.
• Cars with specialty parts: It can be hard to obtain specialty parts to repair an imported or customized car after an accident, so they can be more expensive to insure.
• Vehicles with low safety ratings: These vehicles may be more likely to be involved in accidents, and those accidents may be more severe, leading to a higher claim payout. The higher risk leads to a higher rate.

Car insurance rates are complex, as each company values the above attributes differently. The only way to know how much you’ll pay for a given car is to request and compare quotes from a few companies before purchasing an insurance policy.

Vehicles with more expensive car insurance

If you’re in the market for a new or used vehicle and are specifically looking for something with cheap car insurance rates, there are certain makes and models you may want to avoid. We’ve listed out the five most expensive vehicles to insure, based on our research, below.

However, keep in mind that while a vehicle’s make and model does affect rates, insurance companies use many other factors when determining premiums. The best way to know how much your vehicle will cost to insure is to get multiple quotes.

Tips to get a lower car insurance rate

If you’re not currently driving one of the cheapest cars to insure, there are still ways to lower your insurance costs. Consider the following strategies:  

• Shop around: You’ve probably heard it before — comparison shopping can help you nail down the best price for your auto insurance. That’s because auto insurance companies rate risk differently, leading to quotes that could vary considerably.  
• Ask about discounts: When shopping for new quotes, be sure to look at the discounts available from your current insurer and other potential carriers. Common auto insurance discounts include discounts for paperless billing, safe driving or good grades.
• Maintain a clean driving record: At-fault accidents or moving violations like speeding tickets can add surcharges to your premium and remove safe driving discounts. Maintaining a clean driving record by practicing defensive driving methods can help reduce your chances of a costly accident.
• Enroll in telematics: Most auto insurers offer potential discounts to drivers who agree to share driving data, including location data, with their insurance company. Be sure to read the fine print and understand how the discount is calculated before you sign up since some common habits like nighttime driving or sudden braking could diminish your discount or even cause your rate to go up.
• Review your coverage and deductibles: Dropping important coverage typically isn’t a good way to reduce car insurance rates, but it’s possible that you may be paying for coverage you don’t need — or that you’re carrying a lower deductible than you can afford. Working with an agent to review your policy could help you secure a lower rate without cutting necessary financial protection.  

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze November 2024 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a single, 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

These are sample rates and should only be used for comparative purposes. 

Vehicle Types: To determine cost by vehicle type, we evaluated our base profile with the following vehicles applied: Acura RDX, Audi A4 Quattro Premium, Audi A6 Quattro Premium, Audi Q5, Audi Q7 Quattro Premium, Audi R8 Quattro Performance, BMW 330i, BMW i3, BMW i4, Buick Enclave, Cadillac Escalade, Chevrolet Bolt, Chevrolet Corvette, Chevrolet Silverado, Chrysler Pacifica, Dodge Challenger, Dodge Charger, Ford Escape, Ford F-150, Ford F-150 Lightning, Ford Mustang GT, Ford Mustang Mach-E, GMC Sierra 1500, Honda CIvic, Honda CR-V, Honda Odyssey, Honda Pilot, Hyundai Accent, Hyundai Ioniq 5, Infiniti Q50 Luxe, Infiniti Q0 Luxe, Infiniti QX55 Luxe, Infiniti QX80 Luxe, Jaguar I Pace, Jaguar XF, Jeep Cherokee, Jeep Grand Cherokee, Jeep Wrangler, Kia Carnival, Kia EV6, Kia Forte, Kia Sorento, Kia Sportage, Land Rover Range Rover, Lexus RC F, Mazda 3, Mazda Miata, Mercedes C300, Mini Cooper Countryman, Nissan Altima, Nissan Leaf, Nissan Rogue, Nissan Titan, Porsche 718 Boxster, Porsche 718 Cayman, Porsche Cayenne, Ram 1500, Rivian R1S, Subaru Forester, Subaru Outback, Tesla Model 3, Tesla Model S Plaid, Tesla Model X, Tesla Model Y, Toyota Camry (base), Toyota Prius, Toyota RAV4, Toyota Sienna, Toyota Tacoma, Toyota Tundra and Volkswagen ID.4. 

MSRP: MSRP data is for 2022 base models and is sourced from Kelley Blue Book. The MSPRs are accurate as of February 2023.