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The Least Expensive Cars to Insure

Are you getting ready to purchase a new car? Year, make and model aren’t the only things you’ll want to consider. Once you have your eye on a few options, you’ll want to research insurance rates so you know what you’re getting yourself into. After all, new car prices are on the rise, averaging $47,000, according to Kelly Blue Book.

Discover which cars have the lowest insurance rates — and what factors impact those costs.

Top 10 Least Expensive Cars to Insure

Every year Insure.com compares car insurance rates to find the cheapest and most expensive cars to insure. Below are the 10 of the least expensive cars to insure.

What do these cars have in common? They’re primarily compact SUV from import manufacturers. These cars are likely low-maintenance and less expensive to repair. They’re also sure to be loaded with strong safety features and technology perfect for families.

Rank

Make

Model

1.

Subaru

Forester 2.5I Wilderness

2.

Hyundai

Venue SE

3.

Honda

CR-V LX

4.

Mazda

CX-30 S

5.

Toyota

C-HR XLE

6.

Toyota

C-HR NightShade

7.

Mazda

CX-30 S Premium

8.

Honda

CR-V EX

9.

Kia

Seltos LX

10.

Honda

HR-V EX

 

Seven Factors that Can Determine Car Insurance Premiums

The cost of your auto insurance is generally based on a few elements — both in and out of your control. Understanding these factors can help you make a more informed purchase and ensure you’re not surprised at your car insurance quote.

1. Where You Live

Almost all states have car insurance requirements for bodily injury liability and property damage liability coverage. These rules dictate the minimum you must be insured for, and consequently can affect your premiums. Your address can also impact your coverage. If your ZIP code has a high damage rate and you park on the street, your insurance could be more expensive than if you lived in a rural area with a garage.

2. Your Driving Record

Past car accidents and traffic violations can affect your car insurance rate. If you have a track record of dangerous driving, your insurance premiums will reflect that. By how much? That usually depends on the severity and whether it’s a repeat issue.

3. Your Age

Drivers younger than 25 and older than 65 typically pay more for car insurance, as they’re more likely to get into accidents.

4. Cost of Repair or Replacement of the Car

That luxury car brand may be swanky, but it’s likely to cost you more at the repair shop — and your insurance might be footing the bill after a collision. That’s why the cost of repair or replacement of your vehicle is one factor in determining rates.

5. Frequency of Incidents or Claims with Your Car Model

If your model of vehicle experiences higher than average accidents or problems, insurance companies may raise the rates to help absorb some of that cost.

6. Cost of the Damage the Vehicle Can Cause to Others

If you have a large car or one that can cause a lot of damage to property or people, your rate will likely be more expensive since there is a higher risk of larger claims.

7. Your Insurance Company’s Own Rating

Every insurance company has its own set of rates and rating algorithms, developed by actuaries. These ratings help the company predict how to set rates for the coming years.

 

The Right Insurance for the Right Vehicle

Whether you’re looking for new car or are wanting to understand your rate better, contact your Farm Bureau agent for assistance.