Do Certain Cars Make My Car Insurance More Expensive?

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When shopping for a new car, we often look for things such as style, comfort, and good gas mileage. However, an equally important factor often goes forgotten: the cost of insuring the new car you buy. NerdWallet looked into the best-selling cars of 2017 and analyzed car insurance premiums to see which ones are the most affordable to insure. We compiled this information for you to help you make an informed decision when purchasing your next car.

According to NerdWallet, the top five least expensive cars to insure are:

  • Subaru Outback
  • Ford Escape
  • Chevrolet Equinox
  • Toyota RAV4
  • Honda CR-V

All of these cars have an average annual premium that falls between $1,566 and $1,753. It is speculated that these are the more affordable cars to insure because the people driving these types of cars are responsible, parental types, according to Joe Wiesenfelder, executive editor of
NerdWallet reports that the bottom five least expensive cars to insure are:

  • Chevrolet Malibu
  • Toyota Camry
  • Nissan Altima
  • Nissan Sentra
  • Toyota Corolla

The average annual premium for all of these cars falls between $1,912 and $1,980. Although these cars are still affordable, they tend to cost a little more to insure than the cars mentioned above. This might be because these cars are often stolen the most based on the car’s desirability and demand for its parts, so they pose more of a risk.

Forbes wrote that the top five most stolen new cars are:

  • Toyota Camry
  • Nissan Altima
  • Toyota Corolla
  • Dodge Charger
  • Ford Fusion

According to NerdWallet, car insurance companies base premiums off the risk you and your car may present. For example, even larger cars that appear safer, such as SUVs, can have higher insurance premiums because of the potential to cause more damage to the other car if you are ever involved in an accident.

It is also important to note that expensive sports cars will be more expensive to insure in general. This is because they are designed to be driven fast, which means they have more potential to cause accidents. These cars are also more expensive to replace or repair in the event of an accident.

Kelley Blue Book recommends saving money by considering a car in the mid-size category that has less horsepower. Overall, it is important to consider what cars will be more expensive to insure while shopping for a new car. In addition to personal preferences, size, lifestyle, and desirability are all factors to consider when deciding on a car, because these factors will ultimately affect your car insurance costs.

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