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Since we’re still sort of “grounded” during our Covid-19 situation some of us have been taking a look at new cars.  There has certainly be enough advertising about them to create a case of new car fever. We decided that we should give you some insight into the price of insuring that new car.  Check out the results below.

Our Source

Insure.com compares car insurance rates in every state annually for approximately 3,000 different models to find the cheapest and more expensive vehicle to insure.  They got insurance quotes from sic major insurance companies and averaged the premiums.

Least Expensive to Insure

In years past, SUV and CUVs dominated th list of least expensive cars to insure and 2020 is no exception.

The Mazda CX-3 Sport is a slightly larger version of the CX-5 and moved up from 4th place last year. The CX-3 is a small CUV that is loaded with safety features. The 148-horsepower engine will get you around while it doesn’t impact your insurance premium.

Rank

Make

Model

Average rate

1

Mazda

CX-3 Sport

$1,324

2

Honda

CR-V LX

$1,333

3

Wrangler

Sport S

$1,334

4

Subaru

Outback 2.51

$1,335

5

Fiat

500X Pop

$1,336

6

Honda

Odyssey LX

$1,353

7

Subaru

Forester 2.5l

$1,373

8

Mazda

CX-5

$1,374

8

Jeep

Renegade Sport

$1,374

10

Honda

HR-V LX

$1,377

Most Expensive to Insure

A big-ticket car usually means high end finishes, lots of technology, and a big engine under the hood.  Insurers also consider the price of the car when setting the premium in case the car is damaged or destroyed, they could need to repair or replace the cars.  All that leads up to a big insurance bill as well. 

Rank

Make

Model

Average rate

1

Mercedes

AMG GT R

$4,082

2

Audi

R8 5.2L V10 Quattro Performance

$4,033

3

Nissan

GT-R

$3,994

4

BMW M8

M8 Competition XDrive convertible 

$3,953

5

Mercedes

S65 AMG

$3,911

6

BMW

M760i xDrive

$3,814

7

Porsche

Panamera GTS Turbo

$3,800

8

Tesla

Model X Performance 

$3,798

9

Dodge

Challenger SRT Hellcat Redeye

$3,768

10

Mercedes

S560 convertible 

$3,766

A Tip or Two

Vehicles designed with families in mind tend to come loaded with safety features and rank high on our least expensive to insure list.

One other factor that can lower an insurance rate is how popular a vehicle is, more sales leads to lower repair costs because parts are readily available

Dean and Draper

When you decide to purchase that new car, give us a call.  We are happy to give you insurance quotes, so you have that cost of ownership factor covered.

Dean& Draper is a Trusted Choice insurance agency representing over 200 insurance companies. For over 36 years we have offered a trusted freedom of choice to our clients.  ContactUs.

The recommendation(s), advice and contents of this material are provided for informational purposes only and do not purport to address every possible legal obligation, hazard, code violation, loss potential or exception to good practice. Dean & Draper Insurance Agency specifically disclaims any warranty or representation that acceptance of any recommendations or advice contained herein will make any premises, property or operation safe or in compliance with any law or regulation. Under no circumstances should this material or your acceptance of any recommendations or advice contained herein be construed as establishing the existence or availability of any insurance coverage with Dean & Draper Insurance Agency. By providing this information to you, Dean & Draper Insurance Agency does not assume (and specifically disclaims) any duty, undertaking or responsibility to you.  The decision to accept or implement any recommendation(s) or advice contained in this material must be made by you.

©2020 Dean & Draper Insurance Agency All Rights Reserved.

Sources: Insure.com, Car and Driver

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