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10 Cheapest Cars to Insure

When shopping for a new car, it's not just the sticker price that matters; ongoing expenses like insurance premiums can significantly impact your budget. Whether you're a budget-conscious driver or simply looking to save on insurance costs, choosing a car with lower insurance rates can make a substantial difference. To help you make an informed decision, we've compiled a list of the cheapest cars to insure in 2024 based on data from Bankrate.

Of course, insurance costs will vary depending on the make and model, as well as your driving record. When taking a look at the most popular vehicles on the market, we found that trucks and SUVs offer the best insurance rates, mainly due to the fact that these have fewer bodily injury claims.

While purchasing a car is a significant investment, it's essential to consider the total cost of ownership, including insurance premiums. By opting for one of the cheapest cars to insure in 2024, you can enjoy peace of mind on the road without breaking the bank. Whether you prefer a compact SUV, a rugged off-roader, or a versatile crossover, there's a budget-friendly option available to suit your needs. With that said, let’s take a look at the top 10!

1. Subaru Outback

1. Subaru Outback

Average annual insurance premium: $1,603

The Subaru Outback is a crossover with excellent safety ratings, standard all-wheel drive, and lower repair costs compared to other vehicles on the market, which is why it’s one of the cheapest vehicles to insure. When looking at the $26,795 MSRP, drivers are paying around 5.98% of that in insurance premiums.

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2. Honda CR-V

2. Honda CR-V

Average annual insurance premium: $1,635

The Honda CR-V proves a practical option for families in need of fuel efficiency, safety and reliable performance. As an added benefit, it’s also worth noting that it has a strong resale value. The cost of insurance for the CR-V is just 6.45% of its $25K sticker price.

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3. Honda Pilot

3. Honda Pilot

Average annual insurance premium: $1,726

The Honda Pilot wasn’t always the cheapest car to insure but it is now. With a high reliability score, stellar safety ratings and safety features, the Honda Pilot delivers on all fronts as terrific mid-size SUV for families. Its insurance cost also happens to be the lowest by percentage, with premiums being just 5.30% of its $32K MSRP.

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4. Ford Escape

4. Ford Escape

Average annual insurance premium: $1,734

The Ford Escape offers versatility, fuel efficiency, and a wide range of available of safety features. In part due to its low starting cost at around $25K, premiums are low even with a slightly higher 6.79% of the MSRP. It's one of the cheapest cars for young drivers to insure.

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5. Honda Odyssey

5. Honda Odyssey

Average annual insurance premium: $1,735

The Honda Odyssey is the only minivan on our list. It offers spacious seating, family-friendly features, and a reputation for reliability. While insurance rates can vary based on a variety of factors, the Honda Odyssey generally has reasonable insurance premiums compared to other vehicles in its class. On average, premiums are about 5.46% of the vehicle cost.

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6. Ford F-150

6. Ford F-150

Average annual insurance premium: $1,753

Easily the cheapest truck to insure, the Ford F-150 premiums are about 5.98% of the sticker price, making it comparable to the Subaru Outback. Drivers love its performance, reliability and safety features. It’s also worth noting that it’s the best-selling vehicle on the market today.

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7. Jeep Wrangler

7. Jeep Wrangler

Average annual insurance premium: $1,820

The Jeep Wrangler offers rugged off-road capabilities and sturdy construction that make it one of the safest cars you can drive. However, due to the fact that many people use these vehicles for everyday driving, people are able to keep these things in prime condition. It's cheap insurance premiums make it a great choice for young drivers.

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8. GMC Sierra 1500

8. GMC Sierra 1500

Average annual insurance premium: $1,867

The GMC Sierra 1500 is the only other truck on our list, and its insurance premiums reflect 6.20% of the vehicle’s starting price. While not as low as the Ford F-150, it’s still an excellent rate. The sturdy nature of this truck and incredible safety features help keep the insurance rates at bay.

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9. Toyota RAV4

9. Toyota RAV4

Average annual insurance premium: $1,869

Toyota possesses the best reputation when it comes to reliability, and the RAV4 is one of their most reliable SUVs. That factor, combined with its fuel efficiency and abundance of safety features, make it an appealing option for many drivers.

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10. Nissan Rogue

10. Nissan Rogue

Average annual insurance premium: $1,880

Another one of the cheapest cars to insure for young drivers, the Nissan Rogue offers a smooth ride, a spacious cabin, and a comprehensive suite of driver-assistance features that make driving this vehicle a breeze – undoubtedly helping to minimize driver accidents.

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