Car Insurance Rates By Model | Are You Paying The right Insurance for your Car?

car insurance rates by model

There are lots of conditions that can affect the cost of your auto insurance, your location, age driver profile, weather condition amongst others but one factor you can definitely control is the car model you get.

Auto insurance rates vary depending on the model of the car you have, and like most auto drivers, you may do a research to find which models of cars cost less for insurance and this is why we have compiled a list of cars with the cheapest insurance for you to check out.

Does Car Model Affect Car Insurance Cost?

Cars insurance rate differ depending on the kind of vehicle you drive, while some may have high insurance rates others have lower insurance rates. And you might be wondering how a car model really affects its insurance cost.

Car insurance companies take you and your vehicle into consideration when determining the risk involved in insuring your car. So, both you and your car model are important factors these companies use in determining the price they are willing to give you insurance coverage for your car.

Insurers consider history claims like accidents, repairs cost, and rates of car theft, more claims for a particular model of the car means more insurance cost rate for such a car.

So, they consider how much it will take them to handle repairs for a specific car, to find a replacement either in cash after car theft for a particular model of the car; these factors affect the cost of insurance for such model of car.

So, while purchasing a car, it’s important to find out a lot about such a car model and what it would possibly cost to insure it. Your car features also influence the cost of insurance for such a car; cars with high-tech safety equipment usually cost more than others.

Insuring a car with a GPS, a power moon roof, and a premium audio system cost more than insuring the lowest priced model of car. Also, a higher trim level for some cars means a higher insurance cost rate for them.

Sports car, electric vehicles, high-end luxury cars, and cars targeted by thieves often have high insurance rates. Looking for cars that have low insurance rates means driving cars that are affordable, safe, and not too complicated.

Let’s give you the list of some cars that have the cheapest auto insurance rate:

SUBARU FORESTER 2.5i: This is considered one of the cars with the cheapest insurance rate, it’s not as awesome as sports cars, but it would save you a lot on insurance charges.

FORD ESCAPE: This car is easy and cheap to insure, and you can check it out to cut down on insurance cost.

JEEP COMPASS: It is easy to drive around town and may be seen as one of the family car types. However, it helps you save a whole lot on insurance cost.

JEEP RENEGADE: Smallest SUV from jeep, and has a new look for the 2019 model, with awesome wheels that offer a range of engines. And you can totally check out for its low cost of insurance.

HONDA CR-V: This car is quite popular; it is well known for its safety, fuel efficiency, and satisfaction it gives to customers. And it is definitely one of the cheapest cars to insure in 2019. This car costs $1,537 to insure a year.

HONDA HR-V: It’s quite hard to get in trouble while driving this car, which makes it one of the cars with the cheapest insurance rate. It has decent passenger room and cargo space, and insuring this car is quite cheap.

MAZDA CX-3: It is quite smaller than CX-5, looks quite sporty and has richly trimmed interior. But it has less cargo space and interior space, and it is one of the cars with the cheapest insurance rates.

SUBARU OUTBACK 2.5l: It is considered a family kind of car and it is absolutely good for snowy roads. It is one of the largest cars with a low insurance rate. This car costs $1,429 a year to insure.

JEEP WRANGLER: This car is available in both four-door versions and two-door versions, and it is quite awesome to drive for adventures. It is among Cars with Cheapest Insurance Rates because it is quite easy to repair damages done to the car. The windshield can be easily unbolted and swapped to repair its damages. This car costs $1,455 to insure a year.

HONDA ODYSSEY LX: This car is one of the cars with the cheapest insurance rates since it is considered a family car it is expected that the car will be driven with extreme care on the road. It has quite a roomy interior for kids to relax and other awesome features, and it is quite cheap to insure.

Do Insurers Determine Insurance Cost from Car Model?

Cheaper cars usually have lower premiums because they cost less to repair or replace their parts. This is especially true if they’re totaled after an accident occurs. But cars with the high-tech system, easily targeted by thieves, cars with high-end luxury usually have quite high insurance rates.

Car models that score top marks in crash tests conducted by the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS) often have lower insurance rates. Also, car models with a positive claims history like the cost of claims are usually cheap to insure. 

Insurers look at some important factors when considering the cost of insurance rate for your car.

They check out these important aspects:

  • The retail cost of the car, they find out how much your car costs generally to determine the insurance cost rate of the car.
  • Repair costs, the higher the cost of repairing your car, the higher its insurance rate. Cars with modified features like high-tech parts, GPS, tinted windows, extra horsepower has higher insurance rates. Cheaper cars with less sophisticated features have lower insurance rates.
  • The type of car, car insurers takes into consideration the type of car you are driving and the kind of people attracted to it. If it is a sports car mostly driven by a single male, and likely to be involved in car collisions, its insurance rate will be higher than a minivan driven by a family which would be piloted cautiously due to the kids in such cars. Minivans and SUVs are considered family cars and have quite low insurance rates.
  • Safety features of your car, when your car has a sophisticated safety and avoidance feature, these features reduce the risk of damages during accidents  

Therefore these features can make your car have a low premium rate.

  • Size and type of engine or horsepower, sports car with turbocharged cars have quite high insurance rate. This is because they drive more furiously and faster than standard cars making them have a higher risk of damage.

Accident rate, age of the car, potential damage it can afflict, theft rates, accident records, claim history are important aspects insurers take into consideration before determining the cost of insurance for your car.

There are lots of factors that determine Cars with Cheapest Insurance Rates, but one factor you can control to minimize the cost of car insurance is the model of the car you drive.

The model of your car affects the price of insurance you pay for it, and it is really wise to check this out before purchasing your car.