The Best and Worst Cars for Car Insurance
The difference can be as high as $2,000 per year which isn't chump change by any means.
Although car insurance cost is important, it's not practical to make your car buying decision based solely on this factor.
However, smart car shoppers will keep their options open to at least 2 or 3 different cars and will compare insurance costs as part of their buying decision.
Which Cars Are Best to Insure?
All things being equal, the more expensive the car, the higher the insurance costs. This is plain common sense.
But there are other factors that may not be so obvious.
For example, there are cars that are big targets for thieves. These cars are not necessarily expensive, but they are popular and car thieves know they can sell the parts.
Top 10 most stolen cars in the U.S.
1. Honda Accord
2. Honda Civic
3. Toyota Camry
4. Acura Integra
5. Cadillac Escalade
6. Toyota Corolla
7. Ram pickup
8. Nissan Altima
9. Nissan Maxima
10. Chevrolet Tahoe
Another important factor is the size of the vehicle.
Small cars can be more expensive to insure - even if they cost a lot less.
Passengers in small cars are more likely to be injured in a crash, and studies have shown that small cars tend to get into more accidents (possibly because owners think they can easily maneuver around traffic).
Finally, small cars are more likely to have younger owners - who are responsible for more accidents.
Larger cars tend to protect their occupants better in crashes and will have lower costs for personal injury coverage.
However, the larger a vehicle gets, the more potential damage it can cause to other cars, people and property.
Very large vehicles have much higher liability costs due to this factor.
The sweet spot seems to be with traditional family cars such as large sedans and minivans.
These tend to be driven by older, safer drivers and they provide a good level of protection while not causing extensive damage to other vehicles in crashes.
Least Expensive Cars to Insure
|4||Hyundai Santa Fe|
|6||Chrysler PT Cruiser|
|17||Dodge Grand Caravan|
Most Expensive Cars to Insure
The best thing to do is get insurance rates for 2 or 3 different models that you're considering. If the insurance rates differ by several hundred dollars per year, you need to make this a big factor in your buying decision, especially if you intend to keep the vehicle for a long time.
3 Steps Every Car Buyer Needs to Take to Save Maximum MoneyThe key to getting the best deal is to gather price or lease bids from as many local dealers as possible. Then shop that best price around until no one can beat it. Here are the steps:
Step 1 Get Prices From My Trusted NetworkSelect the vehicle you're interested in to see if there are local dealers in my network who will provide you with their best upfront price. You will get direct access to an internet sales manager who you can further negotiate with online (no need to visit dealership).
Step 2 Get Prices From TrueCar / CarsDirectTrueCar, and CarsDirect are my top 2 online price quote recommendations. These services show you pre-negotiated prices from dealers closest to you - and the deals are usually pretty decent. But remember, you can still negotiate further.
Step 3 Complete my ChecklistFollow this up with my checklist to make sure you squeeze out every last bit of savings.
- Gregg Fidan
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
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