The Top 5 Cheapest Cars To Insure

After gas, maintenance, and repairs, car insurance is one of the biggest expenses associated with owning a vehicle. If you think insurance is more expensive now than it was in the past, you’re absolutely right. In the past five years, premiums have gone up an average of 61%.

Insurance companies rank cars based on how costly they’ll be to replace, and how likely they are to be damaged in an accident. By taking these factors into account, you can choose a car that’s lower in cost to insure yet still meets your needs on the road. Reading cheap car reviews can point you in the right direction, as these are often also cheaper to insure. The following are five of the most affordable options to consider.

Ford Fiesta

The Ford Fiesta is an obvious choice for the top 5, since it is one of the best value-for-money cars on the market today. It is a dream to insure, with the most basic versions garnering the lowest insurance rates available. If you opt for high-tech specs you might pay a bit more, but overall this is an easy car to insure and repair. Perennially popular amongst young drivers, when you read any Ford Fiesta review you’ll be sure to notice its affordability mentioned.

Dodge Grand Caravan

Family-friendly minivans are consistently ranked as the cheapest new cars to insure, with the Dodge Grand Caravan being one of the top contenders. This four-door vehicle has recently gotten a new facelift making it closer to a crossover car in appearance, while still having the safety ratings associated with a minivan.

Toyota Sienna

Another minivan to make the list, the Toyota Sienna was ranked the cheapest car to insure for 2012 by Forbes Magazine. The annual premium for this car was estimated to be about $1,111 according to Insure.com. It boasts V-6 power and all-wheel drive, making this a sturdy and reliable vehicle. It also gets 25 mpg, which is decent for a car of its size and will save you some more money at the pump.

Jeep Patriot

Coming in slightly behind the Sienna with an average annual premium of $1,116, the Jeep Patriot is another large vehicle that can withstand damages easily, making it popular with insurance companies. This SUV is built for rugged terrain and offers a decent 30 mpg on the highway.  With a 2.0L 158hp engine, the Patriot is a powerful car that is fun to drive aside from its practicality.

Toyota Yaris

A small car in the super-mini class, the Yaris benefits from the reliability that’s associated with the Toyota brand. This leads to low insurance and maintenance costs. The Yaris is not only reliable, but it’s also a fast, zippy little car with surprising engine power.

There are other factors that can drive down your insurance rates. Always shop around and compare your options to find the best deal. It’s recommended to get at least seven quotes for comparison purposes before making a decision, since coverage can vary so widely.