Which Cars Are Cheapest to Insure in 2024?

The Subaru Forester tops the list as the cheapest car to insure at just $86 per month, closely followed by the Subaru Outback at $87 per month.

Several factors influence your insurance rates, primarily your vehicle’s make and model. The age of your vehicle, repair costs after an accident and the likelihood of theft also play significant roles in determining your insurance premiums, making vehicle choice important for cost savings.

The cheapest cars to insure are:

• Subaru Forester: Nationwide ($1,035 per year)
• Subaru Outback: Nationwide ($1,049 per year)

Nationwide offers the cheapest Subaru Forester coverage — 28% below the compact SUV average — thanks to its excellent safety ratings, even earning a spot at the Insurance Institute for Highway Safety (IIHS) 2024 Top Safety Pick.

Coverage for the Subaru Outback is also significantly cheaper with Nationwide, saving you 35% compared with the national average rate.

Car insurance in 2024 isn't cheap, and experts say it's going to get worse. Rising car repair costs and extreme weather events are pushing insurers to charge higher rates. Fight back with savvy choices — opt for older models and skip the luxury options.

To avoid sticker shock, include your estimated annual premiums in your total car ownership budget.

The cheapest SUVs to insure are:

• Subaru Forester: Nationwide ($1,035 per year)
• Mazda CX-5: Nationwide ($1,071 per year)

Compact SUVs are the most affordable SUV type to insure. Choose a compact model to save around $100 on annual premiums compared with a standard SUV and roughly $500 compared with a luxury SUV. Surprisingly, despite their larger size, SUVs often offer lower insurance rates overall.

The cheapest sedans to insure are:

• Subaru Outback: Nationwide ($1,049 per year)
• Subaru Legacy: Nationwide ($1,157 per year)

Although car insurance rates depend on the specific model, SUVs often have lower premiums than sedans. This is because safer cars are generally cheaper to insure.

The Highway Loss Data Institute found that larger vehicles, like SUVs, had lower rates of bodily injury claims than smaller cars. If you want to save on insurance, size might matter.

The cheapest pickup trucks to insure are:

• Nissan Frontier: State Farm ($1,121 per year)
• Toyota Tacoma: GEICO ($1,144 per year)

Truck insurance cost depends on the model, not just size. For example, a Toyota Tacoma truck ($1,144 per year) is cheaper to insure than a Subaru Legacy sedan ($1,157 per year) — both of which are the top two cheapest cars to insure in their category.

If you're considering a Toyota, the Tacoma is generally cheaper to insure than any of their sedans. That said, pickups generally cost more to purchase, so consider the insurance costs alongside the total ownership cost before buying.

The cheapest sports cars to insure are:

• Chevrolet Corvette: Nationwide ($1,221 per year)
• Ford Mustang Mach E: GEICO ($1,251 per year)

Sports cars are more expensive to insure than daily-use vehicles. They're designed for speed, which increases the likelihood of risky driving and accidents, leading to higher liability costs. Their expensive parts also drive up repair and replacement costs, resulting in pricier comprehensive and collision coverage.

To find the cheapest car insurance for sports cars, compare quotes from at least three insurers with similar coverage levels. Every insurer assesses drivers and car models differently, so the cheapest option for you may vary from another driver's.

The cheapest electric vehicles (EVs) to insure are:

• Chevy Bolt: State Farm ($1,237 per year)
• Nissan LEAF: Travelers ($1,247 per year)

The insurance gap between electric and gas-powered vehicles has narrowed significantly, with average annual premiums for both vehicle types hovering around $1,600.

Although insuring an EV may still be slightly more expensive than a sedan, potential savings on fuel, maintenance and government incentives can offset the EV insurance costs.

The cheapest used cars to insure are:

• MINI Cooper: State Farm ($888 per year)
• Hyundai Elantra: State Farm ($891 per year)

Used car insurance can save you hundreds of dollars annually compared with insuring a newer model. On average, insuring a used car like a Ford F-150 is roughly 16% cheaper than a brand-new model.

In addition to lower premiums, you likely don't need the same level of coverage for a 10-year-old car. If your annual premiums exceed 10% of the car's value, consider reducing coverage and dropping unnecessary add-ons to avoid overpaying.

Compact SUVs and minivans tend to be the most affordable, with average annual premiums around $1,400 to $1,600. Sedans and standard SUVs fall in the middle range.

If you're seeking luxury, expect significantly higher costs — premiums for luxury vehicles can exceed $3,000 annually. Sports cars and luxury electric vehicles typically have the most expensive insurance, but we are seeing a drop in rates in electric car insurance.

Although your personal factors will influence insurance rates, some things are beyond your control. That's why maximizing the factors you can control — like the car you drive — is so important to finding the cheapest car insurance. Choosing a car with a good safety record, modest performance and affordable repairs can significantly impact your premiums over time.

Your car isn't the only factor influencing insurance rates. Location, gender, credit history and other elements all play a role. While you can't control them all, you can work to improve some over time, potentially reducing your insurance costs.

Below are more factors — beyond what car you drive — that influence your car insurance rates.

Every car insurance company has a unique way of calculating rates. This means you'll get different quotes for the same coverage, even with the same car and driving history. Always compare rates from multiple companies to find the best deal for you.

Finding the cheapest car insurance isn't just about the car you drive. Learn how to optimize your coverage, leverage discounts and reduce car insurance costs.

Beyond savings, the best car insurance company offers you the best deal, reliable service and unique coverages. Travelers, the cheapest insurance provider for the Jeep Gladiator and Nissan LEAF, offers new car replacement coverage. And insurers like Allstate, GEICO and State Farm offer new vehicle discounts.

Choosing the right car can significantly impact your car insurance costs. MoneyGeek answered common questions about finding the cheapest car to insure: