Cars With the Cheapest Auto Insurance Rates (2022 Guide) - MarketWatch

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Nobody likes paying too much for car insurance, but it can be tough to get great coverage at reasonable prices. However, you can tip the scales in your favor by picking one of the cars with the cheapest auto insurance rates.

In addition to reviewing the best car insurance companies, we at the Home Media reviews team have researched the country’s most popular vehicles to figure out which may get you the lowest auto insurance rates possible.

Popular Car Models With the Cheapest Auto Insurance Rates

While various factors affect car insurance premiums, certain vehicles usually get affordable coverage. We received auto insurance quotes for the 25 most popular vehicles in 2021 to figure out which models have the most affordable car insurance.

The rates below are based on a 32-year-old male driver in North Carolina with a clean driving record and good credit. Each premium listed in the table is for full coverage car insurance. These estimates are based on the average of quotes from Geico and Progressive.

Generally, drivers receive the most cost-effective protection when they select smaller SUVs and minivans. The types of cars with the cheapest auto insurance rates typically have these characteristics:

Easy to drive
Have basic components
Perform well in safety tests
Cause little damage to others
Offer considerable protection when involved in accidents

Vehicle Factors that Affect Car Insurance Rates

Even if you don’t select one of the cheaper models listed above, it’s possible to find affordable rates. Below, we’ll run through critical elements that car insurance companies consider when setting premiums for coverage.

Vehicle age: Most people assume older cars receive cheaper auto insurance coverage, but that’s not always the case. Some new cars receive lower premiums due to added safety features, though this is often balanced out by higher repair costs.
Type of vehicle: Small SUVs and minivans generally receive lower auto insurance rates, while sedans and large SUVs cost more to insure. Cheap car insurance is difficult to find for those with electric vehicles, luxury models and sports cars.
Trim level: The nicer your car’s trim level, the pricier your auto coverage will likely be. That’s because premium models have features that cost more to replace.
Safety features: If your car performs well in safety tests from the National Highway Traffic Safety Administration and Insurance Institute for Highway Safety, it will probably have lower rates. Safety features such as air bags, anti-lock brakes and seat belts will also reduce your car insurance costs.
Car theft rates: Certain car models are stolen more frequently than others, as indicated by an annual study from the National Insurance Crime Bureau (NICB). Vehicles that are commonly targeted by thieves will likely have more expensive auto insurance policies.

Choices that Affect Car Insurance Rates

Some decisions a driver makes can influence the cost of their car insurance. Here’s a look at a few of those factors:

Coverage level: Minimum coverage on your vehicle will cost less than full coverage car insurance. However, you’ll receive very little protection for your car in the event of an accident if you opt for the state minimum coverage limit.
Deductible amount: Those with high deductibles receive lower rates for auto insurance, but they also pay more out of pocket when damages occur.
Bundled policies: You could pay a lower price if you put other types of insurance, such as homeowners or renters coverage, under the same policy as your car coverage.
Annual mileage: Insurance companies typically charge lower rates for policyholders who don’t drive as much since spending less time on the road makes them less likely to get into accidents.

Personal Factors that Affect Car Insurance Rates

Even the cars with the cheapest auto insurance rates can be expensive to insure if personal factors indicate that you’re a high-risk driver. Below are some characteristics that often lead drivers toward increased car insurance premiums:

Driving record: If your driving history contains a recent accident, speeding ticket or DUI, expect to pay significantly more for car insurance. The cheapest rates are usually given to those without traffic violations or recent insurance claims.
Age, gender and marital status: Teen drivers, young drivers who are male and singles of both genders typically pay more for auto insurance. As men get past their 20s, rates decrease and level out with what female drivers pay.
Credit score: Those with poor credit receive extremely high car insurance quotes because providers consider them high-risk drivers. Drivers with low credit scores often pay even higher rates than those with speeding tickets and at-fault accidents.
Location: You’ll pay more if you live in an area with high crime, increased rates of uninsured drivers or a large number of accidents. Those in urban areas like New York City or southern California typically pay higher rates than residents of rural regions.

Having good credit and a clean driving record can make it easier to get cheap car insurance. While the cars with the cheapest auto insurance rates may have lower costs, coverage will still likely cost more than the national average if your record indicates potential risks.

Factors that affect car insurance rates

Car Insurance Discounts to Help Reduce Rates

It’s possible that you’ll find cheaper premiums by carefully considering car insurance discounts offered by providers. Below, we’ll look at some ways that policyholders can save money.

Should I Pick the Cheapest Auto Insurance Rate?

It’s a bad idea to automatically pick cars with the cheapest auto insurance rates or choose providers that offer low-price car insurance policies. Shockingly low rates could indicate that an insurer offers subpar coverage and targets drivers who want to save money.

While you’ll spend less by selecting your state’s minimum required coverage, consider your options and needs. Car insurance quotes will be cheaper if you reject comprehensive coverage and collision coverage, but bodily injury liability and property damage liability coverage won’t take care of your costs after an accident.

The cars with the cheapest auto insurance rates typically perform well in crash tests, but they aren’t necessarily the right models for everyone. Balance your needs with potential costs mentioned by insurance agents before choosing a car.

Our Recommendations for Car Insurance

If you’re looking for cars with the cheapest auto insurance rates, you may also be wondering which providers offer affordable coverage. Based on our research, we found that it’s easy to find competitive car insurance premiums from Geico and Progressive.

Geico: Editor’s Choice

AM Best financial strength rating: A++
Better Business Bureau (BBB) rating: A+

Drivers who are searching for some of the most well-rounded car insurance coverage should take a close look at Geico. The company is known for its cost-effective coverage options and superb financial strength, so your car will be well protected in the event of an accident.

However, Geico’s customer satisfaction scores were near the average across most regions in the J.D. Power 2021 U.S. Auto Insurance Study^SM. Our team reached out to Geico for a comment on its customer satisfaction ratings but did not receive a response.

Keep reading: Geico insurance review

Progressive: Low Rates for High-Risk Drivers

AM Best financial strength rating: A+
BBB rating: Not rated

It’s not easy for motorists with poor credit scores or less-than-perfect driving history to get excellent auto insurance, but Progressive can be a good choice for them. While it probably won’t have the cheapest coverage, Progressive insures many drivers who get passed over by other providers.

One of the downsides of Progressive is that it was ranked the country’s second-worst provider in the J.D. Power 2021 U.S. Auto Claims Satisfaction Study^SM, with a score of 862 out of 1,000. Our team reached out to Progressive for a comment on its claims satisfaction score but did not receive a response.

Keep reading: Progressive insurance review

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

Cost (20% of total score): Auto insurance rate estimates generated by Quadrant Information Services and discount opportunities were both taken into consideration.
Coverage (20% of total score): Companies that offer a variety of choices for insurance coverage are more likely to meet consumer needs.
Reputation (20% of total score): Our research team considered market share, ratings from industry experts and years in business when giving this score.
Availability (20% of total score): Auto insurance companies with greater state availability and few eligibility requirements scored highest in this category.
Customer Experience (20% of total score): This score is based on volume of complaints reported by the NAIC and customer satisfaction ratings reported by J.D. Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own shopper analysis.

*Data accurate at time of publication

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