Even if you’re fortunate enough to live in a city with dependable public transit, having a car gives you much more freedom, especially when you have a family. Picture hauling a couple of IKEA bookcases on the subway and you’ll get the idea.
That said, owning a vehicle can be pricey, particularly once you include the upfront cost, yearly taxes and registration, and that unavoidable expense: car insurance.
Depending on your location, your monthly auto insurance payment could consume a sizable chunk of your household budget. It’s sensible to look for vehicles that satisfy your needs while being cheaper to insure.
To identify which models meet that standard, I consulted Insure.com’s yearly list of the least costly cars to insure. Below is a summary of the most affordable cars from an insurance standpoint and what else makes them worthwhile purchases.
1. Honda Odyssey LX
Average Annual Premium: $1,112
Claiming the top position for a second consecutive year, the LX is Honda’s base trim of the Odyssey minivan.
The 2018 model lists for $29,990 MSRP and includes standard features that feel upscale: automatic climate control, push-button ignition, an 8-way power driver’s seat and Bluetooth. It also earned a 5-star overall safety rating from the National Highway Traffic Safety Administration (NHTSA) and a Top Safety Pick+ designation from the Insurance Institute for Highway Safety (IIHS). Those recognitions reflect strong results across multiple crash tests that measure occupant protection during collisions.
For families seeking an affordable yet refined minivan, the Honda Odyssey is a solid choice — and its relatively low insurance cost makes it even more appealing.
2. Jeep Renegade Sport
Average Annual Premium: $1,138
The Jeep Renegade is one of the more recent additions to Jeep’s roster. With a modest MSRP of $17,995 for the entry-level Sport trim, it’s economical while still looking sharp.
The 2017 Renegade Sport seats five, offers push-button start and provides up to 50.8 cubic feet of cargo room with the rear seats folded, leaving ample space for hauling gear. Its distinctive styling makes the Renegade a great pick for a younger motorist or a small household seeking a fashionable subcompact crossover.
3. Jeep Wrangler Black Bear
Average Annual Premium: $1,148
The Black Bear edition of the classic Wrangler isn’t offered on current models, but you may find a used one at a dealership.
The 2016 Wrangler Black Bear Edition honored the Black Bear Pass 4×4 Trail in Colorado — a favorite among off-road fans — and included off-road rock rails, black taillamp guards and a “Black Bear Pass” hood decal.
Although not presently sold new, this package was available on Sport S trims, which started at $26,995 MSRP for 2017.
4. Honda CR-V LX
Average Annual Premium: $1,170
The CR-V is a mainstay in Honda’s lineup for a reason. With a base MSRP of $24,095, the CR-V LX is an attractive choice for buyers who want an affordable, dependable crossover. And with up to 32 mpg on the highway for the two-wheel-drive variant, it’s also economical to operate.
Standard equipment includes power side mirrors, automatic climate control and Bluetooth connectivity. The 2017 CR-V also earned a Top Safety Pick+ rating thanks to strong crashworthiness performance.
5. Jeep Compass Sport
Average Annual Premium: $1,183
The Jeep Compass is an economical option with a $20,995 MSRP for the Sport trim. Jeep refreshed the Compass for 2017, and alongside updated looks it offers standard push-button start, cloth bucket seats, halogen quad headlamps and Bluetooth streaming audio. In short, the Compass delivers solid features at a low price and is inexpensive to insure.
Most Costly Cars to Insure
At the opposite extreme are the priciest cars to insure.
Not surprisingly, these tend to be higher-priced, more powerful vehicles compared with the models listed above. Leading the pack is the Mercedes S65 AMG convertible, which carries an average annual premium of $3,835. Other high-cost examples include the Dodge GTS Viper ($3,779), Mercedes S63 AMG 4Matic convertible ($3,624), Maserati Quattroporte GTS ($3,547), Mercedes S550 convertible ($3,502) and Mercedes C43 4Matic convertible ($3,418).
The sticker price of a car is just the start of what you’ll spend when adding a new vehicle to your driveway. Choosing among the cheapest vehicles to insure can help protect your finances — and your wallet will appreciate it.
For more ways to cut car-related expenses, check out tips on the cheapest car to maintain to keep ownership costs down.
Alex Rivers covers automobiles for a living, though he still can’t fully explain how torque works. His first car was a vintage Fiat he affectionately called Little Luigi.
