Cars with the Best Insurance Rates: Top Models for Affordable Coverage
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Insurance rates can vary depending on your vehicle’s year, make, and model. The cars with the best insurance rates have advanced safety features while also being less expensive to repair after an accident.
Explore the best cars with low insurance rates to learn why they are the most affordable options.
Factors Affecting Insurance Rates
Two major factors affecting average car insurance rates are driver demographics and your vehicle. Your age, driving history, credit score, location, gender, marital status, and occupation can all affect your insurance premiums.
Average rates can also go up or down based on the type of vehicle, coverage types and limits, annual mileage, and ownership history. For example, expensive vehicles, such as luxury cars or sports cars, generally cost more to insure than moderately priced older cars with more affordable repairs.
Another major vehicle-related factor is your car's safety features and ratings. Types of vehicles with more advanced safety features, more extensive safety testing, and higher official safety rankings will cost less to insure than cars less focused on safety. Safety ratings from the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS) help determine a car’s overall safety.
Best Cars for Affordable Coverage in 2024
The car models with the best insurance rates (including caravans) are:
Rank | Vehicle | Average Monthly Premium |
---|---|---|
1 | Dodge Grand Caravan | $185 |
2 | Toyota Corolla | $186 |
3 | Kia Sedona (Kia Carnival) | $190 |
Avg. premiums are weighted by zip code population sizes. Data accurate as of August 1, 2024 |
The Dodge Grand Caravan has an overall NHTSA safety rating of 4/5 stars. While most years rank well for safety, newer models are equipped with advanced safety features like Rain Brake Support, Electronic Stability Control, and Lane Departure Warnings. Other than some risk on the driver’s side hip/leg area, IIHS found that most of the vehicle’s design stands against crashes well.
Toyota Corollas, one of the most popular cars, consistently receive five-star ratings from the NHTSA, and the IIHS named them a Top Safety Pick. In crash tests from both organizations, most of the Corolla’s features ranked high. In addition, the Toyota Corolla is significantly cheaper to maintain and repair, so insurance companies don't need to set as high rates to cover the costs of accident repair.
The Honda Odyssey has a variety of safety features, such as collision mitigation braking, lane-keeping assist, and adaptive cruise control. While it received an overall five-star rating from the NHTSA, the IIHS found a higher risk of head and neck injuries for rear passengers during an accident. Repair costs for the Odyssey are less expensive than other vehicles, and records show they need major repairs less often, indicating they are durable.
The Kia Sedona (newly branded the Kia Carnival) has also been an IIHS Top Safety Pick in the past and received an overall five-star rating from the NHTSA. However, the newer Kia Carnivals struggle to meet the safety standards of older Kia Sedonas and so may cost more to insure.
Affordable SUVs With Low Insurance Costs
Rank | Vehicle | Average Monthly Premium |
---|---|---|
1 | Subaru Forester | $176 |
2 | Honda CR-V | $178 |
3 | Toyota RAV4 | $189 |
4 | Kia Soul | $191 |
Avg. premiums are weighted by zip code population sizes. Data accurate as of August 1, 2024 |
The Subaru Forester is one of the most affordable SUVs to insure because of its high safety ratings. It has been an IIHS Top Safety Pick multiple times, with an overall five-star NHTSA safety rating. It has also scored the highest ratings for the IIHS front crash prevention and pedestrian front crash prevention tests. However, Foresters may be slightly more expensive to repair, which can have a negative effect on your insurance rates.
The Honda CR-V has also scored an overall five-star rating from the NHTSA, although some older models lacked advanced safety features. The average costs of repairs for a CR-V are lower than those of similar SUVs, and they have longer life expectancies with proper maintenance.
Toyota RAV4s have scored a five-star rating with the NHTSA and received high rankings across IIHS safety crash tests. Safety features include brake assist, traction control, lane departure warnings, and cross-traffic alerts. The RAV4 is also significantly cheaper to repair than other SUVs, which is less risky to your auto insurance company.
The Kia Soul has received an overall four-star rating from the NHTSA with some five-star ratings in independent crash tests. It has a steel-reinforced frame as well as features like forward collision warning and cyclist detection. Repair costs for a Kia Soul are expected to be less than the average annual costs for similar subcompact SUVs.
Top Insurance-Friendly Electric and Hybrid Cars
Electric cars’ insurance rates are typically higher than for fuel-powered vehicles because they can be more expensive to repair after an accident. However, some car insurance companies give discounts for electric vehicles, and you might recoup some of the cost through state tax incentives.
If you’re looking for an electric car with the best insurance rates, consider choosing one from a company that makes gas cars as well. The Toyota Corolla Hybrid, Honda CR-V Hybrid, or the Toyota RAV4 Hybrid may be safe, affordable options.
Budget-Friendly Trucks and Their Insurance Rates
Rank | Vehicle | Average Monthly Premium |
---|---|---|
1 | Ford F-150 | $188 |
2 | Toyota Tacoma | $190 |
Avg. premiums are weighted by zip code population sizes. Data accurate as of August 1, 2024 |
The Ford F-150 is one of the safest trucks available with a five-star rating from the NHTSA. It has also been one of the IIHS’ Top Safety Picks multiple times. Unfortunately, the Ford F-150 may cost more for repairs, which can increase your insurance costs. A steel model may be more expensive upfront than an aluminum body but can reduce repair costs after an accident.
The Toyota Tacoma is also a safe option, although it does score lower than the Ford F-150 in some crash tests. It has an overall NHTSA safety rating of four stars. That being said, the Tacoma is one of the more affordable trucks to repair, with subsequently lower insurance rates.
The Impact of Vehicle Age on Insurance Rates
Vehicle age can impact your insurance rates due to differences in repair costs, repair availability, and replacement costs. Newer cars may be more expensive to replace and repair. However, older cars may lack safety features, and it might be difficult to find parts.
Some companies offer discounts for newer cars, which can partially offset the increase in insurance rates. New cars with the best insurance rates are typically models with advanced safety features and lower repair costs.
Making Informed Vehicle Choices
The least expensive cars to insure balance advanced safety features and affordable repairs. The car must be able to protect itself and its passengers while not costing the insurance company a fortune after an accident.
Insurance rates vary by vehicle types and their specific features. Use EverQuote’s free online comparison tool to see how much it would be to insure your car today.
Premiums are sourced from over 30,000 zip codes across 200 insurance companies. We estimate premiums based on public filings for policies seeking 50/100 in liability with $500 deductibles for collision and comprehensive coverage. Estimated rates are based on a 35-year-old single female with a good credit score and no history of accidents or violations driving a 2023 Toyota RAV4 LE. We partner with Quadrant Information Services to source our data and assume no unique benefits or discounts are applied for these rates (unless otherwise stated). Your own rates may be different.