What Are the Cheapest Cars To Insure in 2024? | LendingTree (2024)

Jeep Wranglers are the cheapest new cars to insure, costing an average of $173 a month for full coverage. This is 23% less than the average rate for new vehicles ($225 a month).

The Honda Crosstrek and Subaru Outback are the next-cheapest cars to insure. Insuring either of these vehicles with full coverage costs less than $190 a month.

The list below is based on a review of car insurance quotes for top-sellers and comparable models.

Insurance rates by car

Your vehicle’s make and model are among the factors that determine your insurance rate. Others include your age, driving record, location and, in most states, your credit history.

Each company weighs these factors differently. This is why it’s good to compare car insurance quotes from multiple companies.

Cheapest cars to insure by vehicle make

By vehicle make or manufacturer, Subarus and Jeeps tie for cheapest new cars to insure.

The average cost of full coverage for a new Subaru or Jeep is $191 a month. Chevrolets are next cheapest to insure, at an average rate of $204 a month for full coverage.

Insurance rates by car manufacturer

Small SUVs (sport utility vehicles) and large pickup trucks are generally the cheapest types of cars to insure.

The average cost of car insurance for a small SUV is $197 a month. Large pickup trucks cost an average of $206 a month to insure.

Insurance rates by vehicle type

What are the most expensive cars to insure?

The Tesla Model 3 is currently the most expensive car to insure among the new vehicles in our analysis. Its monthly full-coverage rate of $352 a month is 57% higher than the average for new cars.

Insurance companies factor the cost of repairing or replacing a vehicle into the price they charge to insure it. Because of this, luxury vehicles usually cost more to insure than economy cars.

However, insurance companies also look at the insurance claims history of each vehicle. If a cheaper car has more claim costs than a pricier model, the cheaper one may cost more to insure.

For example, Teslas tend to have higher collision claims costs than other vehicles. Insurance for Teslas is also often more expensive than insurance for cars with higher MSRPs (manufacturers’ suggested retail prices).

Most expensive cars to insure

Subaru Outbacks tend to be the cheapest used cars to insure. The average cost of full coverage for an Outback is $140 a month. Liability-only policies for Outbacks cost an average of $71 a month.

The Subaru Forester and Honda CR-V are the used cars with the next-cheapest insurance rates for full coverage.

For liability-only rates, however, the Forester and Subaru Crosstrek are cheapest after the Outback.

Insurance rates by used car model

Liability car insurance is for injuries and damage you cause in an accident. Full coverage also includes collision (for damage to your own car) and comprehensive (covering non-crash damage or theft). See our guide to car insurance types for more info.

If you drive an older car with a low resale value, you may be better off dropping full coverage. The average cost of liability-only insurance for a used car is $81 a month, while full coverage for a used car tends to cost about double that amount.

Cheapest cars to insure for young drivers

We also took a look at insurance rates for cars selected as safe choices for teen drivers by the Insurance Institute of Highway Safety (IIHS) and Consumer Reports to find the cheapest cars to insure for young drivers.

Among the best safe cars for young drivers, the Hyundai Tucson and Honda Accord are the least expensive to insure. The Tucson has the cheapest full-coverage rates for young drivers ($395 a month), while the Accord is cheapest for liability-only ($169 a month).

Insurance for teen drivers is usually much more expensive than for older drivers, since young motorists have less experience behind the wheel.

Insurance rates by car for young drivers