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December 17th, 2013
Top 10 Cheapest Cars to Insure

Some Cars Could Cost you Thousands more in Insurance Coverage

Before you go out and buy that new car you’ve been looking at, you may want to check out the cost of insuring it first.  The cost to insure particular cars may make them unaffordable for you.

Avoid the top 10 most expensive cars/trucks to insure and take a look at these below. For the most part, they are lower priced cars/SUVs/trucks and the cost to replace is one of key factors in determining insurance rates.

Cars and Trucks Have Their Own Reputation

You’d think insurance premiums would be tied to the driver of the car, not the vehicle itself. Well, certain cars or trucks might be involved in more accidents and more frequently require repair after accidents. Repairs might be more costly because of parts or service availability.

Each vehicle has its own safety rating and level of drivability, and it may have built-in features that make it safer to drive. Insurance is all about statistics so it makes sense that safer vehicles translate to lower insurance rates.

Insurance rates for specific models vary for a number of reasons. The most common factors are the cost to repair or replace the vehicle. The age of the vehicle (year manufactured) impacts on the availability of parts and what they’ll cost.  And accident rates for the vehicle may be factored in too.

The Cheapest Cars to Insure

Courtesy of Market Watch and 24/7 Wall Street, here’s the Top 10 cheapest vehicles to insure:

10. Hyundai Tucson (price of this car: $20,000)

9.   Ford Explorer SUV (price: $29,000) has a number of safety assistance features.

8.  Hyundai Tucson GLS (price: $23,000) with low price to repair or replace.

7.  Subaru Outback 3.6R (price: $28,000)

6.  Chevrolet Express 1500 Van (price: $26,000) with low price and ease of repair.

5.  Jeep Patriot Sport (price $16,000) with low price, 4 wheel drive, and perhaps better drivability

4.  Kia Sportage (price $19,000) with low price and rear view camera and 4 wheel drive.

3.  Subaru Outback 2.5i Premium ($25,000) with 4 cylinder has less power.

2.  Jeep Grand Cherokee Laredo ($28,000) is expensive but has 4 wheel drive.

1.  Ford Edge SE (price: $28,000) likely offers good handling, and perhaps typical drivers of this model may be less aggressive drivers, thus it isn’t involved in as many collisions?

Looking for ways to save on car insurance?  While buying an inexpensive, easy to repair vehicle is a wise choice, you’ll want to ensure you install snow tires, have warning alarm systems for backing up your vehicle, have rear view cameras installed, and perhaps buy your life insurance and home insurance through the same insurer. Another great way to save on auto insurance policies is to combine your policy with your spouse’s, making you eligible for the multi-car discount coverage.

Working with an insurance broker is wise. We can provide you with more options and we don’t try to push one line of insurance at you as a direct insurer might do. Direct insurers get their revenue from their line of products, and that makes it impossible for them to look out for your interests. Our clients choose us because of our expertise in helping them select the right insurance coverage.

Car Safety Features Do Count

Especially in Ontario, the use of tires that grip, 4 wheel drive, and collision avoidance systems can help reduce accidents.  Today, manufacturers are incorporating some excellent new features to help drivers avoid the high costs of vehicle accidents.

 Driving and Texting

Pinned byMark Davies  | OntoSmiley Insurance

Which do you think are driver’s 10 worst driving habits? Take a look and check out the latest in car safety features that could save your life and your family’s lives.

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