The Most and Least Expensive Cars to Insure

Your car plays a big role in your auto insurance rates, but how much? Read on to find out this year’s most expensive and cheapest cars to insure.


The new vehicle market is currently insane. Due to last year's COVID-19-related factory shutdowns and this year's microprocessor shortage caused by production delays, dealer inventories are at an all-time low. Pent-up consumer demand following the pandemic is causing prices to rise, particularly on short-supply models.


But, shopping for a car that suits your budget is only the beginning – don't overlook other long-term costs of ownership. Insurance, in particular, can be expensive, and premiums range from one car model to another.


The website Insure.com shares a yearly list of the new cars that tend to be the costliest and cheapest to cover. According to the website, this year's least expensive vehicles to insure are all family-minded rides, with the 2006 Honda Odyssey LX topping the list at an average of $922 per year. We have featured both lists below:


Top 5 Cheapest Cars to Insure

  1. 2006 Honda Odyssey LX - $922

  2. 2006 Chrysler Town & Country - $923

  3. 2006 Dodge Caravan SE - $925

  4. 2007 Honda Odyssey LX - $936

  5. 2007 Dodge Caravan SE - $937

Top 5 Most Expensive Cars to Insure

  1. 2015 Porsche 918 Spyder - $5,239

  2. 2019 Maserati Quattroporte GTS GranSpor – $5,102

  3. 2018 Maserati Quattroporte GTS GranSpor - $4,778

  4. 2017 Maserati Quattroporte S - $4,723

  5. 2018 Maserati Gran Turismo MC Centennia - $4,623

Data source: Insure.com


What Makes a Car Expensive to Insure?


What you pay for auto insurance is partly based on the type of car you are insuring. This takes into account previous claims of similar models. For instance, if your insurer has previously paid high liability for car insurance claims for your exact model, this can affect your insurance cost. That's the reason why high-performance sports cars, which are likely to be involved in accidents, often are expensive to insure.


High-end vehicles or those that cost more to repair will also have higher insurance rates. The simple reason being, insurance companies expect to pay out more for any collision and comprehensive insurance claims – for high-cost vehicles.


Below are some common auto body damage repairs and their costs. Via these collision repair cost examples, you will notice how wide the range is.

  • Windshield repair costs: $50 to $900

  • Bumper repair cost: $400 to $1,500

  • Scratches or paint chips costs: $50 to $1,500

  • Door or fender repair (dings): $50 to $350

  • Minor dent repair costs: $50 to $125

What's more, car theft also plays a massive role in your rates. Some vehicles are prone to theft more than others. Thus, if you own one of those vehicle models, your rates are likely to be higher.


What Else Impacts Car Insurance Costs?


Your car model is just one component of the auto insurance cost equation. Below are other common factors that can affect your car insurance rates:

  • Driving record ( tickets will cost you dearly)

  • Age (Young people pay the most)

  • Use of vehicle, such as business or personal

  • Your past claims

  • Location/ garaging address (big city residents pay more)

  • Credit-based insurance score

  • Mileage

  • Auto-insurance coverage chosen


Bottom Line


As we mentioned earlier, auto insurance can be expensive. Therefore, before you buy a new (or used) car, research the average cost of insurance for that model or make. At the very least, include the insurance costs into your budget so that you're prepared financially. And remember, even with your high-end car, there are several ways to lower your premium.


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