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What does it cost to insure my SUV?
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If you’re in the market for a new vehicle, you might be considering a sport utility vehicle (SUV). In 2022, SUVs accounted for almost 50% of global car sales, and 16% of total SUV sales were electric.
Compared to sedans, SUVs tend to have higher price tags and higher insurance premiums. However, there are a variety of ways to get cheap car insurance for SUVs. In this article, we’ll highlight the average car insurance premiums for some of the most popular SUVs and share some tips for reducing your insurance rate.
Many factors can affect the cost of car insurance for an SUV, including your age, credit score, driving record, location, and claim history. Based on average insurance rates, SUV premiums can range from $1,680 to $3,090 per year, depending on your SUV’s make and model.
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.
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.
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.
Car insurance for SUVs is usually more expensive than car insurance for smaller vehicles, such as sedans. This is because SUVs generally have a much higher value than sedans and sometimes cost more to repair than other vehicle types. However, the cost of car insurance for trucks may be comparable to the average rates for SUVs.
The best car insurance for SUVs is different for every driver. Based on our research, some of the best insurance companies with the cheapest average premiums are Progressive, Nationwide, Erie, and State Farm.
Before choosing a car insurance company, however, it’s important to compare several insurers. You should also get multiple rate quotes to see which insurance company can offer the lowest rate for the type and amount of coverage you want.
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
There isn’t one SUV make and model that is the cheapest to insure for all drivers. The cost of SUV car insurance depends on many personal factors, like your age, location, and driving record.
Additionally, your policy preferences can also impact your rate. For example, full coverage policies cost more than minimum coverage policies. If you add optional endorsements to your policy, your rate will also go up.
SUVs with cheap insurance: While there isn’t one SUV that will always be the cheapest to insure, there are some SUVs that have lower average premiums than others. According to our analysis of recent rate data, the Honda CR-V is the cheapest SUV to insure, with an average premium of $1,680 per year.
Below you can see which popular 2022 SUV models have the cheapest average car insurance premiums.
The Honda CR-V, a popular compact SUV, combines comfort and versatility. With spacious interior, advanced safety tech, and efficient engines, it's tailored for city cruising and family journeys alike. The CR-V is the cheapest SUV to insure, likely due to its reliability and relatively low cost of repair.
The Subaru Outback is a rugged and reliable crossover SUV known for its all-weather capability and spacious interior. When it comes to insuring a Subaru Outback, nationwide providers such as Progressive, Nationwide, and Erie Insurance offer some of the most affordable rates.
The Subaru Forester is a popular compact SUV known for its spaciousness, safety features, and all-weather performance. Its practicality makes it a versatile choice for families and outdoor enthusiasts. Progressive, Nationwide, and Erie Insurance are among the cheapest insurance companies for Subaru Forester owners.
SUVs with more expensive insurance: The Tesla Model Y is the most expensive SUV to insure among the most popular SUVs, with an average premium of $2,077. Not only does the Model Y have a high MSRP, but it’s fully electric, which means it will likely cost more to repair after an accident. These factors contribute to the high cost of auto insurance.
These popular 2022 SUV models have the most expensive average insurance premiums.
The Tesla Model Y is an all-electric compact SUV known for its impressive range, acceleration, and advanced technology features. While it may be expensive to insure, Auto-Owners, Nationwide, and State Farm are among the nationwide insurance companies that offer more affordable rates.
The BMW X5, a luxury midsize SUV, harmonizes elegance with dynamic performance. Featuring premium amenities, advanced technology, and a commanding presence, it delivers a sophisticated driving experience on and off the road, but comes with a higher insurance price tag
The Mercedes GLE-Class is a midsize luxury SUV. With a refined interior, advanced safety features, and diverse powertrains, it exemplifies comfort and performance at the pinnacle of sophistication, but with its higher value, it also comes with higher insurance cost.
Toyota
Popular SUVs:
1. RAV4
2. Highlander
3. 4Runner
Honda
Popular SUVs:
1. CRV
2. HRV
3. Pilot
Jeep
Popular SUVs:
1. Grand Cherokee
2. Wrangler
Chevrolet
Popular SUVs:
1. Equinox
2. Tahoe
3. Traverse
Subaru
Popular SUVs
1. Crosstrek
2. Outback
3. Forester
While car insurance rates are different for every driver, there are several ways to get a cheaper car insurance premium for your SUV. Here are some tips to help you save money:
Choose higher deductibles: Raising your deductibles will lower your monthly premium. However, it’s important to make sure you can afford the higher out-of-pocket cost if you get into an accident or need to file a physical damage claim.
Bundle your policies: You can often reduce your premium by purchasing multiple policies from one insurance company. For example, bundling your car insurance with a homeowners or renters insurance policy often leads to cheaper premiums.
Look for insurance companies that offer discounts: Many insurance companies offer discounts. For example, you can usually find savings for safe drivers, good students, taking a defensive driving course, and paying your premium in full.
Improve your credit: Your credit score has a significant impact on your insurance premium in most states. If your credit score is low, improving your score could help you get a cheaper insurance premium.
Compare quotes: You may be able to find a cheaper car insurance policy with a new insurance company. It’s a good idea to compare car insurance quotes from several different providers to find the best rates and coverage for your SUV.
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Owning an SUV does not require you to have more insurance than if you owned another type of vehicle. However, if you lease or finance an SUV, you may be required to purchase a full coverage policy. Although full coverage insurance is more expensive, it provides physical damage protection for your car, which can be beneficial if you have a new SUV.
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.
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