Cheapest Car Brands to Insure Revealed by Consumer Reports
As the prices of new and used cars continue to rise, many Americans are looking for ways to save money, especially on insurance costs. A recent analysis by Consumer Reports has highlighted the cheapest car brands to insure, based on data from Insurify. This list reveals which brands may save drivers the most on annual premiums.
Top 10 Cheapest Car Brands to Insure
Consumer Reports collaborated with Insurify to explore over 90 million insurance quotes from major insurers across the United States. Their findings reveal the following top five brands with the lowest average annual insurance premiums:
- Subaru: $2,088
- Buick: $2,148
- Volvo: $2,184
- GMC: $2,184
- Mini: $2,208
Subaru stands out as the most affordable brand, significantly lower than its competitors, followed closely by Buick. Both Volvo and GMC share the same insurance premium, while Mini rounds out the top five. The margin between the cheapest and tenth cheapest brands is about $300 yearly.
Sixth to Tenth Place Brands
The remaining brands in the top ten are also worth noting:
- Jeep: $2,268
- Mazda: $2,292
- Ford: $2,340
- Chevrolet: $2,376
- Honda: $2,376
Interestingly, Jeep’s placement is notable given its lower reliability ratings. Ford and Chevrolet, despite mixed reliability perceptions, benefit from the lower insurance costs associated with pickup trucks.
Factors Influencing Insurance Costs
Insurance premiums depend on various factors, including:
- Driving record
- Age and gender
- Location
- Credit score
- Safety features of the vehicle
For example, a vehicle with high crash test ratings or advanced safety features often results in reduced premium rates. As personal circumstances change, such as relocating from a high-risk area to a safer neighborhood, insurance costs can also fluctuate significantly.
Conclusion
Understanding which car brands are cheaper to insure can aid consumers in making informed purchasing decisions. It’s advisable to compare quotes from multiple insurers to find the best rates tailored to individual circumstances. With careful consideration, drivers can save on insurance premiums while enjoying their new vehicles.
