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Why you can trust Rate Retriever

Our rates are based on public rate filings obtained by analytics company First Interpreter. While we may partner with some of the carriers you see on our site, we maintain editorial independence and it does not affect the rates you see. Read more about our rating methodology or see our rigorous editorial policy. 

Written by Alyssa DiCrasto

Reviewed by Rob Deming

Last updated: February 26th, 2024

The cost of car insurance for popular vehicles

The vehicle you drive can have a significant impact on the price you pay for car insurance. This is because insurance companies consider various factors and the risk associated with each when they calculate insurance premiums, and your vehicle is an important factor they use.

For the most popular 2023 vehicles, the average cost of car insurance is $2,049. Car insurance costs for popular 2023 models range from $1,830 – $4,570, with the 2023 Subaru Outback at the low end of the range and the 2023 Tesla Model S at the top.

The price you’ll pay for car insurance will vary based on the kind of vehicle you have as well as its year, make, model, and trim level.

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Cheapest cars to insure

While there isn’t a single vehicle that is the cheapest to insure for all drivers, SUVsminivans, and pickup trucks tend to have lower insurance premiums compared to electric vehicles (EVs), sedans, and sports cars. These vehicle classes usually have improved safety features which make a total loss less likely, and replacement parts may be more easily accessible due to their popularity. 

According to our rate data, the Subaru Outback has the lowest car insurance rates, followed closely by other SUVs like the Subaru Forester, Mazda CX-5, and Volkswagen Tiguan.

In the table below, you can see the average cost of car insurance for the least expensive cars to insure out of the top 100 most popular 2023 models: 

Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024. 

How the vehicle you drive impacts the cost of your car insurance

When it comes to the vehicle you drive, insurance companies may consider the vehicle type, year, make and model, and trim level when calculating your premium. 

Vehicle type

Vehicle type, sometimes referred to as vehicle class, refers to the general category of the vehicle, such as sedans, SUVs, trucks, sports cars, etc. Different vehicle classes have varying levels of risk associated with them.

For example, sports cars are typically considered higher-risk vehicles due to their higher speeds and increased likelihood of accidents. Consequently, insuring a sports car is usually more expensive compared to insuring a sedan or an SUV.

Vehicle year

The year of your vehicle is an essential factor in determining insurance premiums. Older vehicles generally have lower market values, making repairs and replacements less costly for insurance companies. Consequently, insurance premiums for older vehicles tend to be lower compared to newer ones.

However, the condition and safety features of the vehicle may also influence your premium. Newer vehicles often come equipped with advanced safety features, which can help mitigate risks and potentially lower insurance cost. Some insurance companies even offer discounts for certain safety features, such as lane departure warnings and anti-theft devices.

Vehicle make and model

The make and model of your vehicle can also impact your insurance premiums. Insurance companies collect and analyze historical data on claims and accident rates for various vehicle makes and models. They use this information to assess the risk associated with insuring different vehicles. If a specific make and model is statistically associated with a higher frequency of accidents or theft, insurers may charge higher premiums for those vehicles.

Vehicle trim level

The trim level refers to the specific package or options available for a particular make and model of a vehicle. Trim levels can affect insurance premiums because they often reflect differences in the vehicle’s performance, safety features, and overall value.

For example, a higher trim level may have more advanced safety features, such as collision avoidance systems or lane departure warnings, which can reduce the likelihood of accidents. As a result, vehicles with higher trim levels may qualify for lower insurance premiums compared to their base model counterparts.

Alternatively, higher trim levels on some makes and models may cost more to insure. This is because higher trim levels may also come with higher repair and/or replacement costs. This tends to be true especially if the higher trim level offers hybrid or electric capabilities. 

Cost of insuring your vehicle

In summary, insurance companies consider various factors related to the vehicle you drive when determining your car insurance premiums. Vehicle class, year, make and model, and trim level all play a role in assessing the level of risk associated with insuring a particular vehicle.

Insurance companies may consider the following when it comes to car insurance by vehicle:

  • How much a vehicle will cost to repair or replace in case you need to make a claim
  • Historical data that shows likelihood of accident or theft among certain vehicles
  • Safety features available with that vehicle

It’s important to note that insurance companies may also consider additional factors beyond your vehicle when calculating your final premium. These include factors such as your age, your driving history, the state you live in, and more. Comparing personalized rates is the best way to find cheap car insurance.

How much should I expect to pay to insure my vehicle?

Personalized rate estimates at the top insurance companies in your state

Your rates will vary based on where you live, your age, and other factors like your driving record

Most expensive cars to insure

In general, the most expensive types of cars to insure are luxury vehicles, sports cars, and electric vehicles (EVs).  If you want a car that has cheap insurance rates, it’s best to avoid luxury brands and cars with a higher value, which often have the highest insurance premiums.

In the table below, you can see the average cost of car insurance for the most expensive cars to insure out of the top 100 most popular 2023 models: 

Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024. 

Methodology

Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive. 

For the data on this page, we made the following assumptions: a 35-year-old single male with a clean driving record and Good credit score. We adjusted this profile by vehicle make, model, trim, and year to determine the rates you see on this page.

These rates are not actual quotes and should only be used for comparative purposes. Your rates can vary significantly based on your unique driver profile. 

Frequently asked questions

How does the make and model of my car affect my insurance premium?

The make and model of your car can affect your insurance premium because some cars are more expensive to repair or replace than others. Insurance companies consider these costs when determining your premium. Cars that are known for being safe, reliable, and inexpensive to fix may have lower premiums. On the other hand, cars that are expensive, have a high theft rate, or are considered high-performance vehicles may have higher premiums. It’s important to consider the make and model of your car when shopping for insurance to ensure you’re getting the best coverage at the right price.

Are certain types of cars more expensive to insure than others?

Yes, certain types of cars are more expensive to insure than others. Sports cars, luxury vehicles, some EVs, and high-performance cars are typically more expensive to insure because they are more expensive to repair or replace. Additionally, cars with higher horsepower or those that are more likely to be stolen may also have higher insurance premiums. It is important to research and compare insurance quotes before purchasing a new car. Also remember that other factors, like your age, driving history, and zip code, can also affect the price you’ll pay for car insurance.

Does the age of my car affect my insurance rate?

Yes, the age of your car can affect your insurance rate. Generally, older cars are less expensive to insure because they have lower value and are cheaper to repair or replace. On the other hand, newer cars may have higher insurance rates as they are more valuable and may require more costly repairs. Insurance companies use a variety of factors, including the age of your car, when determining your insurance rate.

Are luxury cars more expensive to insure?

Yes, luxury cars are usually more expensive to insure compared to standard cars because they cost more to repair or replace if they are damaged. Luxury cars also tend to have more advanced technology and higher performance capabilities, which can make them more expensive to insure. It is important to shop around and compare insurance quotes to find the best rate for insuring a luxury car.

Do sports cars typically have higher insurance premiums?

Yes, sports cars usually have higher insurance premiums because they are typically more expensive to repair or replace due to their high speeds and expensive parts. Insurance companies may see sports cars as having a higher risk of accidents; additionally, drivers of sports cars may be seen as more likely to engage in risky driving behaviors. This increased risk results in higher insurance premiums for sports car owners compared to those who drive standard cars.

Are electric or hybrid vehicles cheaper to insure?

It depends. Some electric vehicles, like Teslas, are very expensive to insure. However, hybrid versions of some popular economy vehicles like Toyotas and Subarus will not be as expensive to insure. Some insurance companies even have discounts for these types of vehicles. It really depends on the value of your electric or hybrid vehicle and how much it would cost an insurance company to repair or replace in the event of a claim. Remember, insurance rates will also vary based on factors like your age, driving record, and location.

How does the safety rating of my vehicle influence my insurance premium?

The safety rating of your vehicle can have an impact on your insurance premium. Safer cars are less likely to be involved in costly accidents, so insurance companies may offer lower premiums for vehicles with higher safety ratings. This is because safer cars tend to have lower repair costs and result in fewer injury claims.

How does the engine size or horsepower of my car affect my insurance cost?

The engine size and horsepower of your car can impact your insurance cost because faster, more powerful cars are often more expensive to insure. This is because they may be more likely to be involved in accidents due to their speed and performance capabilities. Insurance companies consider these factors when determining your premium, as a car with a larger engine or higher horsepower may be more costly to repair or replace in the event of a claim. It’s important to consider the potential insurance cost when choosing a car with a bigger engine or more horsepower.

What role does the cost of repairs for my vehicle play in determining insurance rates?

The cost of repairs for your vehicle can affect your insurance rates because insurance companies consider the likelihood of needing to pay for repairs when setting rates. If your car is expensive to repair, the insurance company may have to pay more if you get into an accident. This could lead to higher premiums to cover the potential cost. On the other hand, if your car is cheap to repair, insurance rates may be lower because the cost of potential repairs is lower.

Does the likelihood of theft for my car impact my insurance premium?

Yes, insurance companies consider the risk of theft when determining the cost of your insurance. If your car is more likely to be stolen, the insurance company may charge you a higher premium to offset the potential risk of having to pay a claim. We could see this happening in recent history with a surge of theft of Kias, where some insurance companies even stopped writing new policies for certain vehicle models.

Are older cars cheaper to insure than newer ones?

Yes, older cars are usually cheaper to insure than newer ones because they cost less to replace if they get damaged. New cars often have advanced technology and expensive parts that make them more costly to repair or replace in case of an accident. Older cars may not have as many safety features, which could lead to higher risk of accidents, but their lower value typically results in lower insurance premiums. It’s a good idea to compare quotes from different insurance companies to find the best rate for your specific car and situation.

How does the vehicle’s usage (personal, commercial, etc.) affect insurance rates?

The way you use your vehicle can affect how much you pay for insurance. For example, if you use your car for business purposes, like delivering goods or driving for a ride-sharing service, your rates could be higher. This is because commercial use puts you at a higher risk for accidents. It’s important to be honest with your insurance company about how you use your vehicle to make sure you have the right coverage.

Are certain colors of cars more expensive to insure?

No, the color of you car will not impact your car insurance rates. The year, make, model, safety features, and usage are the vehicle-related factors that most insurance companies will use to set rates. The only time the color of your car may make your car insurance more expensive is if you have a custom paint job that you want to insure. In this case, be sure to disclose this to your insurance agent or company to make sure you have the right level of coverage in place.

Does the location where I park my car impact my insurance premium?

Yes, the location where you park your car can impact your insurance premium. If you park your car in a high-crime area or a busy city, you may be at a higher risk for theft or accidents, which can lead to higher insurance rates. On the other hand, if you park your car in a safe neighborhood or a secure garage, you may be eligible for lower insurance premiums. It’s important to check with your insurance provider to see how your parking location may affect your rates.

How does the car’s safety features influence insurance rates?

Car insurance rates are influenced by the safety features of a car because safer cars are less likely to be in accidents (or expensive accidents for that matter). Features like airbags, anti-lock brakes, and backup cameras can reduce the risk of injuries or damage in a crash. Insurance companies take these safety features into account when determining rates, as cars with better safety measures are less of a financial risk for them.

Are modifications to my vehicle considered when calculating insurance premiums?

Yes, modifications to your vehicle can affect insurance premiums. Insurance companies may consider modifications that alter the performance or safety of your vehicle when determining your premium. This is because modifications can increase the risk of accidents or theft, leading to higher costs for the insurance company. Modifications are also more expensive to replace in the case of a claim. It’s important to inform your insurance provider of any modifications to ensure you have the proper coverage and to avoid any potential issues with claims in the future.

Do certain brands have higher insurance premiums than others?

Yes, some brands of cars may have higher insurance premiums than others. This is because insurance companies consider factors like the cost of repairs, safety features, and likelihood of theft when determining premiums. Luxury brands like Mercedes and Tesla, as well as models with higher horsepower or expensive parts, may result in higher premiums compared to more affordable or reliable brands like Subaru and Toyota. It’s important to research and compare insurance rates before choosing a car to make sure you can afford the cost of coverage.

Does the mileage of my car affect my insurance cost?

Yes, the annual mileage of your car can affect your car insurance rates. Car insurance companies use this as a predictor for how much your vehicle will be on the road throughout the year, since vehicles that are on the roads more have greater risk of getting into an accident. It’s important to note that the mileage on your odometer is much less important to insurance companies than the annual mileage you drive.

How does the car’s history, such as past accidents or damage, impact insurance rates?

Overall, your driving history has a larger impact on your car insurance rates than your car’s history. If you have a history of making a lot of insurance claims, you can expect to pay higher rates since this indicates to insurance companies that you may continue to make a lot of claims.

Are there specific types of cars that insurance companies consider high risk, and why?

Yes, insurance companies consider certain types of cars high risk. This includes sports cars that are fast and can be driven recklessly, as well as luxury cars that are expensive to repair. Older cars and those without up-to-date safety features are also seen as risky. These types of cars are more likely to be involved in accidents, which can lead to costly claims for insurance companies. As a result, they may charge higher premiums to insure these high-risk vehicles.