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

  • The Jeep Wrangler is the cheapest new car to insure.
  • Small SUVs and large trucks are usually the cheapest types of cars to insure.
  • Audis, BMWs and Teslas tend to have the most expensive insurance rates.

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

VehicleMonthly rate full coverage
Jeep Wrangler$173
Honda Crosstrek$187
Subaru Outback$189
Honda CR-V$192
Hyundai Tucson$192
Chevrolet Trax$193
Subaru Forester$196
Ford F-150$198
Toyota RAV4$199
Kia Sportage$199
Nissan Rogue$201
GMC Sierra 1500$202
Chevrolet Silverado 1500$206
Toyota Tundra SR$208
Jeep Grand Cherokee$209
Honda Accord$211
Chevrolet Equinox$211
Nissan Murano$212
Ram 1500 Classic$217
Kia EV6$217
Honda Civic$217
Nissan Sentra$219
Toyota Camry$221
Ford Explorer$222
Average rate full coverage$225
Toyota Corolla$229
Ford Mustang Mach-E$242
Hyundai Ioniq 6$252
BMW 330i$277
Audi Q5$277
BMW 530i$288
Audi A6$318
Tesla Model Y$319
Tesla Model 3$352

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

MakeMonthly rate
Subaru$191
Jeep$191
Chevrolet$204
Honda$207
Kia$208
Nissan$211
Ford$213
Toyota$214
Hyundai$222
BMW$282
Audi$298
Tesla$335

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

Vehicle typeMonthly rate
Small SUV$197
Large pickup$206
Small car$213
Large SUV$222
Midsize car$250
Midsize SUV$252
Large car$303

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

VehicleMonthly rateMSRP
Tesla Model 3$352$42,490
Tesla Model Y$319$44,630
Audi A6 Quattro Premium$318$58,100
BMW 530i$288$57,900
Audi Q5 Quattro Premium$277$45,300
BMW 330i$277$45,500

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

VehicleMonthly rate full coverageMonthly rate liability only
Subaru Outback$140$71
Subaru Forester$142$74
Honda CR-V$142$77
Subaru Crosstrek$144$74
Jeep Wrangler$146$87
Ford F-150$147$80
Nissan Murano$150$78
Chevrolet Silverado 1500$151$81
GMC Sierra 1500$152$82
Hyundai Tucson$152$80
Chevrolet Equinox$154$79
Jeep Grand Cherokee$154$85
Toyota RAV4$155$80
Ford Explorer$156$80
Nissan Rogue$156$83
Toyota Tundra$157$83
Kia Sportage$159$81
Ram 1500$159$88
Honda Civic$161$83
Toyota Camry$162$83
Average used car rate$162$81
Nissan Sentra$168$89
Toyota Corolla$172$86
Honda Accord$173$84
BMW 320i$194$83
Audi Q5$195$78
Audi A6$212$77
BMW 535i$218$80

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

VehicleMonthly rate full coverageMonthly rate liability only
Hyundai Tucson$359$176
Kia Sportage$372$179
Hyundai Santa Fe$378$177
Ford Edge$381$180
GMC Terrain$389$174
Average young driver rate$396$178
Honda Accord$398$169
Toyota Camry$415$176
Mazda CX-9$416$179
Mazda 3$422$184
Toyota Corolla$430$188

Jeep Wranglers are the cheapest new cars to insure. Subaru Outbacks are the cheapest used cars to insure. Small SUVs are the cheapest type of vehicle to insure. Subarus and Jeeps are the cheapest cars to insure by vehicle make. (See more above on cheapest insurance for new cars and used cars.)

Older cars are usually cheaper to insure than new cars. One exception is a collector car. If you have a classic car, antique car or other collectible, you should get specialty car insurance. Your current car insurance agent, or the agents you contact for quotes, should be able to help you.

Small and large SUVs are generally cheaper to insure than midsize sedans. Midsize SUVs cost nearly the same to insure as midsize sedans. Large luxury sedans tend to cost more to insure than SUVs.

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