The Cheapest Cars to Insure in 2023
Smaller pickups and SUVs are, on average, the least expensive cars to insure compared to other vehicles.
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On the other hand, larger sedans and SUVs have the most expensive car insurance across the industry...\
Car insurance costs are higher for certain vehicles for various reasons — a car with high repair costs, a poor safety record or few anti-theft features will likely cost more to cover.
What's the cheapest car to insure?
The Ford F-150 is the cheapest car to insure out of the top-selling vehicles, with an annual auto insurance cost of $1,990.
This is 16% less than the average yearly cost across all vehicles we surveyed. The CR-V's insurance cost is $1,663 less per year than the most expensive car to insure — the BMW X5.
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Cheapest cars to insure
Rank | Make | Model | EPA size class | Annual rate |
|---|---|---|---|---|
| 1 | Ford | F-150* | Standard pickup truck | $1,990 |
| 2 | Honda | CR-V | Small SUV | $1,999 |
| 3 | Mazda | CX-5 | Small SUV | $2,092 |
| 4 | Honda | Pilot* | Small SUV | $2,108 |
| 5 | Chevrolet | Traverse | Standard SUV | $2,112 |
| 6 | Volkswagen | Tiguan | Small SUV | $2,126 |
| 7 | Ford | Bronco Sport | Small SUV | $2,133 |
* Indicates 2022 model, as not all 2023 models are available yet.
Insurance costs tend to increase with vehicle price, but the cheapest cars to buy aren't the cheapest to insure.
Vehicles with values between $25,000 and $30,000 had the lowest auto insurance rates, at $2,209 per year on average — 6% less than the cheapest cars with values less than $25,000.
By contrast, the most expensive cars — with values of more than $50,000 — cost the most to insure, with an average annual car insurance rate of $3,231. This group included the Tesla Model Y and the BMW X5 — the two most expensive cars in our survey.
Cheapest cars to insure by car type
Auto shoppers will most likely have a specific type of vehicle that they are looking for when buying a new car. For example, if you need a vehicle that can hold many passengers, you are more likely to look at SUVs or minivans.
EPA size class | Cheapest model | Yearly insurance cost |
|---|---|---|
| Compact car | Toyota Corolla | $2,325 |
| Midsize car | Toyota Camry | $2,265 |
| Large car | Honda Accord* | $2,150 |
| Pickup truck - small | Chevrolet Colorado* | $2,160 |
| Pickup truck - standard | Ford F-150* | $1,990 |
| SUV - small | Honda CR-V | $1,999 |
| SUV - standard | Chevrolet Traverse | $2,112 |
* Indicates 2022 model, as not all 2023 models are available yet.
Which car make is the cheapest to insure?
We found that Mazdas and Volkswagens were the cheapest cars to insure.
But the cost to insure many vehicles are incomparable.
Americans have an extensive range of car brands to choose from when shopping for a new vehicle, and certain car makes tend to be more expensive than others. For example, a Mazda or Volkswagen tended to be cheaper to insure when compared to luxury brands such as Lexus or Tesla.
The cheapest car type to insure
Smaller pickups and SUVs tended to be the cheapest types of cars to insure.
The size and shape of your car impact the cost of insuring it. Generally, a car with a more powerful engine and more extras will cost more to insure. Electric vehicles also often cost more than cars with gasoline engines.
EPA size class | Average cost |
|---|---|
| Small pickup truck | $2,179 |
| Small SUV | $2,257 |
| Standard pickup truck | $2,313 |
| Compact car | $2,325 |
| Midsize car | $2,505 |
| Large car | $2,538 |
| Standard SUV | $2,735 |
Why does the car you drive affect your insurance rates?
Insurance companies set their rates based on the chance that a driver of a certain vehicle will file a claim and the expected cost of a claim should it be involved in an accident.
If drivers of a particular type of car file claims at a higher rate — even if they have a good driving record — they will have to pay more.
This is why sports cars, which are more likely to be involved in accidents because of their high performance, often are expensive to insure.
Vehicles that cost more to repair — or have high market values — will also often have higher insurance rates. This is because insurance companies anticipate having to pay out more for any comprehensive and collision insurance claims, which cover the cost to repair or replace your vehicle, for high-cost cars. Because of this heightened risk for insurance companies, they increase rates. It is also why car insurance rates may decrease as your car ages — increasing the availability of replacement parts can make a repair cheaper.
However, sophisticated safety features such as early crash detection or advanced airbags may reduce your rates, as they may reduce the chances or severity of a crash, especially regarding an injury. While vehicle damage claims are more common than bodily injury claims, the average payout for the latter is much higher.
Lastly, car theft also plays a role in your rates. Some cars are stolen more than others, so your rates will probably be higher if you are driving one of those cars. However, drivers should keep in mind that there are many other factors at play that impact auto insurance rates, such as age.
Are stick shift cars cheaper to insure?
Overall yes, stick shift cars are slightly cheaper to insure than automatic cars, although the difference is only a few dollars a month. This can vary depending on the insurance company, but many will provide slightly lower rates for manual vehicles since they tend to be less expensive to replace and to repair.
Methodology: How we got our data
ValuePenguin gathered insurance quotes for the 2023 models of the 48 top-selling cars of 2022 using sales for the first nine months of the year. Rates weren't yet available for all 2023 car models. In those cases, we included the 2022 model.
All sample rates are state averages in Illinois for a 30-year-old with a good driving record. All quotes are for full coverage. We included rates from the five largest insurance companies in the country: State Farm, Progressive, Geico, Allstate and USAA.
EPA size categories were collected from Fueleconomy.gov. Car MSRPs are from car manufacturer websites.