It’s important to consider other costs while looking for a new automobile, such as insurance rates, since they may have a big influence on your budget. Choosing a vehicle with cheaper insurance rates may make a big impact, whether you’re a frugal driver or just want to cut down on premiums. Based on information from Bankrate, we’ve put up a list of the most affordable automobiles to insure for 2024 to assist you in making an educated choice.
Of course, the brand, model, and quality of your driving record will all affect how much insurance costs. Examining the most common cars on the road, we discovered that trucks and SUVs had the lowest insurance costs, mostly because of the lower number of claims for physical injuries.
Even though buying a vehicle is a big financial commitment, you should take insurance rates into account when calculating the overall cost of ownership. Choosing one of the most affordable vehicles for insurance in 2024 will allow you to drive with confidence without going over budget. Regardless of your preferences—small SUV, tough off-roader, or adaptable crossover—there is an affordable model that will work for you. Having stated that, let’s examine the top 10!
- The Outback Subaru
The average yearly cost of insurance is $1,603
One of the least expensive cars to insure is the Subaru Outback crossover, which has great safety ratings, basic all-wheel drive, and less maintenance costs than other cars on the market. Drivers are shelling out around 5.98% of the $26,795 MSRP in insurance rates.
- The Honda CR-V
The average yearly cost of insurance is $1,635
For families that want dependable performance, safety, and fuel economy, the Honda CR-V shows to be a reasonable choice. It’s important to note that it has a high resale value as an extra bonus. Just 6.45% of the CR-V’s $25K sticker price is spent on insurance.
- The Honda Pilot
The average yearly cost of insurance is $1,726.
Although it wasn’t always the cheapest vehicle to insure, the Honda Pilot is now. The Honda Pilot is an excellent mid-size SUV for families, with great safety ratings, a high dependability score, and plenty of safety features. With insurance rates at only 5.30% of its $32K MSRP, it also has the lowest insurance cost when measured in percentage terms.
- The Ford Escape
The average yearly cost of insurance is $1,734.
Versatility, fuel economy, and an extensive array of accessible safety features characterize the Ford Escape. Its modest beginning cost of around $25K contributes to the cheap premiums, which are just slightly higher at 6.79% of the MSRP. It’s among the least expensive vehicles to insure for young drivers.
- The Honda Odyssey
The average yearly cost of insurance is $1,735
There is just one minivan on our list: the Honda Odyssey. It has a reputation for dependability, roomy seats, and amenities that are great for families. The Honda Odyssey often offers affordable insurance rates when compared to other cars in its class, yet insurance costs may vary depending on a number of variables. The average premium is equal to 5.46% of the cost of the car.
- The Ford F-150
The average yearly cost of insurance is $1,753.
The Ford F-150 is by far the least expensive vehicle to insure; at 5.98% of the sticker price, it is equivalent to the Subaru Outback. Its performance, dependability, and safety features are adored by drivers. It’s also important to note that it’s now the best-selling car available.
- Wrangler Jeep
The average yearly cost of insurance is $1,820.
The Jeep Wrangler is among the safest vehicles to drive because of its strong build and tough off-road skills. On the other hand, individuals are able to maintain these items in excellent shape since so many people use these cars on a daily basis. It’s an excellent option for young drivers because of its affordable insurance rates.