The cost of insuring your vehicle is something you should absolutely consider when doing car shopping. Insurance costs can vary widely between vehicles and so it does help to get a quote when you’re seriously considering making a new purchase.
In case you wanted to know which SUVs are the cheapest and the most expensive to insure, we have a brief roundup for you! Insure.com compared car insurance rates in every state for about 3,000 different vehicle models to come up with the two lists.
SUVs once again dominated the list of vehicles that are cheapest to insure. In fact, the top three least expensive vehicles to insure are all SUVs! A total of 15 SUVs and CUVs made the top 20 list.
The other list with the vehicles most expensive to insure is mostly made up of high-end sports cars that pack big, powerful engines. All are luxurious and some SUVs did land among the top 20 costliest to insure. Tesla’s Model X Performance SUV made the eighth spot on the list, while the Jaguar F-Type SVR landed in the 19th spot.
The Least Expensive SUVs to Insure
The Mazda CX-3 SUV came out on top as the least expensive 2020 vehicle to insure, according to Insure.com’s annual ranking of new models. The compact SUV moved up from its fourth-place finish last year to claim the top spot this year. The study found it costs just $1,324 to insure, close to $600 less than the national average! The small SUV is highly popular among young families as it offers solid style, a high-quality interior that’s surprisingly spacious, and a solid engine backing it up.
“Given Mazda’s track record for reliability, I am not surprised to see the CX-3 Sport as one of the most affordable vehicles to insure,” said Carl Anthony, managing editor at Automoblog.net.
Mazda also claimed another spot on the list as the CX-5 came in eighth.
The Honda CR-V LX earned the second spot, meanwhile, with an average annual premium of just $1,333. Honda actually managed to put four total vehicles on the least expensive to insure list (the CR-V LX, Odyssey LX, HR-V LX, and the Pilot LX).
“In recent times, Honda has really drawn attention to their Honda Sensing package, a collection of advanced safety features. Honda Sensing is widely available across their product line regardless of trim level,” said Anthony.
The CR-V’s long list of standard safety equipment impresses, as does its flexible seating. The unique “Magic Seat” offers several different ways to store your cargo. The interior also feels nice considering the CR-V’s affordable price. Plus, it doesn’t feel all that compact inside. It’s surprisingly spacious.
The Jeep Wrangler Sport S made the third top spot on the list with an average rate of just $1,334 to insure per year. While you might not think of a Wrangler as being cheap to insure considering how it’s an off-roader, there are reasons why!
“Jeep owners typically drive slowly, parts are basic and readily available, leading to lower repair costs,” said Michael Harley, executive director of Kelley Blue Book.
A total of three Jeeps made the list of the 20 cheapest vehicles to insure (the Wrangler, Renegade Sport, and Compass Sport). By no surprise, Subaru also landed itself three coveted spots on the list (for the Outback, Forester, and Crosstrek). Advanced safety features always help lower insurance premiums and so Subarus are by no surprise cheaper than other vehicles are to insure.
Other SUV models that made the list of the 20 cheapest vehicles to insure include the Ford Escape S, Buick Encore Preferred, and Hyundai Tucson SE.
The Most Expensive SUVs to Insure
On the other end of the spectrum are vehicles that are highly expensive to insure. High-end luxury sports cars dominate the list and most are European.
“Sports cars and high-end luxury vehicles are usually much more expensive to insure because of repair costs,” Carole Walker, executive director with the Rocky Mountain Insurance Information Association, told Insure.com. “The finishes in these vehicles is often much more expensive than the materials used in a moderately priced car.”
Plus, all the fancy technology inside makes repairs and claims much more expensive, leading to higher rates.
As for which vehicle is the most expensive to insure overall, Insure.com found it to be the Mercedes-Benz AMG GT-R. It will set you back $4,082 to insure a year. It costs over $160,000 to buy the vehicle, though, so we assume people who are purchasing one aren’t all that concerned about an extra four grand.
“With a sticker price north of $160,000 and manufacturer-estimated zero-to-60 mph time of 3.5 seconds, it’s little surprise the vehicle costs a pretty penny to insure,” said Kelsey Mays, senior consumer affairs editors of Cars.com.
Two SUVs did land themselves on the list. They are the Tesla Model X Performance and the Jaguar F-Type SVR. Insure.com says the Model X Performance costs $3,798 on average to insure per year, making it the eight month expensive vehicle to insure on the list. The F-Type SVR is less expensive to insure but still landed itself in the 19th spot. It will set you back $3,443 to insure per year.
Both of those SUVs are highly powerful, stylish, and have lots of tech inside. Plus, Tesla’s Model X SUV does have those unique Falcon Wing doors that are likely more expensive to fix than your average SUV’s doors.
Our Take
SUVs are known for being safe and reliable vehicles and so SUVs.com is not surprised to see so many of them make the top 20 list of the cheapest vehicles to insure!
If you’re in the market for a new or used SUV, you might want to consider that list. If you’re trying to stick to a monthly budget, it helps tremendously to weigh the additional cost of insuring your vehicle.
Mazda, Honda, Subaru, and Jeep all have several SUVs in the list of the lease expensive vehicles to insure and so you might want to consider those brands the next time you’re doing some vehicle shopping.
You can also always browse our listings of vehicles here on SUVs.com.