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.
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.
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 |
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 |
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
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.
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Sources: Insure.com, Car and Driver