Every year there is new list of the cheapest cars to insure, this may cause you to ask “Whats the the deal?”. The three biggest factors affecting specific cars insurance rates are popularity, cost to repair and annual theft rate. A car that is popular and stolen often will be more expensive to insure than its peers even inside the same production lines. If you want to cut insurance costs look for something sturdy, dependable and even consider unpopular colors.
10 least-expensive cars to insure, with average premiums
- Jeep Wrangler Freedom - $1,169
- Honda Odyssey LX - $1,181
- Subaru Crosstrek - $1,236
- Subaru Outback 2.5i - $1,238
- Fiat 500X Pop - $1,244
- Mazda CX-3 Sport - $1,248
- Mazda CX-5 Sport - $1,248
- Jeep Compass Sport - $1,257
- Honda HR-V LX - $1,257
- Ford Escape S - $1,258
What Other Factors Can Impact the Price of Car Insurance?
Car insurance rates increasing includes lots of information on what makes an insurance company rate go up for car insurance, read more here for full details of cost impacting factors, besides claims. As a basic list of things that can affect your insurance, here are a few points that can change your rates:
Mileage: The distance you drive on a daily basis is one of the risk factors insurance companies use to determine your insurance rate. Over or under estimating the amount you drive could be costing you hundreds of dollars simply due to bad math. Review your daily commute and errands to get a good picture of your driving habits. Try and be accurate.
Age and driving experience: Young drivers usually end up paying more but can offset this with additional training such as a certified drivers education or a more extensive defensive driving program. Elderly drivers may see rates increase in later years as impairments are seen to counteract experience.
Location: When you are in areas with heavy congestion, traffic, or even street parking vs. garage parking, your insurance rate may be higher than someone with the exact same profile living in a different area. The insurance company will base the rate of insurance on where the car stays at night, this is often referred to as the garaging address. For most people, it is their home address, but in some cases, a car might be registered to one address, and really stays somewhere else.
Weather conditions: Insurance rates will vary vastly from region to region based on common local weather but can vary locally as well if there are climate factors such as large bodies of water or high elevations.
Credit scoring: Data indicates that drivers with better credit tend to have fewer accidents leading increasing your credit score to positively impact your insurance costs.
Discounts: There are many kinds of discounts you can get with car insurance, these will impact the price you pay and differ greatly from company to company. Be sure to check with your agent for all available discounts.