Monday, April 21st, 2014

Top Ten Cheapest Cars & Trucks to Insure

August 3, 2008 by  
Filed under Car - Truck, Car Insurance

Besides mileage, looks and pricetag, for sure, you will want to consider what is the cheapest truck or car to insure when purchasing a new car.

While car insurance could add significantly to the operating cost of your car. The savvy consumer compares prices online, and finds this survey here….

In 2008, Insure.com published its findings on the ten least expensive vehicles to insure, amongst the top 20 best-selling cars and trucks.

Least expensive autos to insure in 2008 among top sellers

To enable a comparison of car insurance premiums, the study assumed a single, 40-year-old, male, driver, who owns his own home, has a college degree. No recorded accidents or driving convictions. The insured works as an administrator in a hospital and drives 5 miles to work, one way. Premium rates were checked for 3 locations nationwide.

Model
Average premium
Sales ranking
Chrysler Town & Country
$940
19
Ford Escape
$1,022
17
GMC Sierra pickup
$1,026
12
Chevrolet Impala
$1,091
7
Ford Econoline Club Wagon
$1,119
13
Ford Fusion
$1,133
20
Ford F-series pickup
$1,156
1
Honda Civic
$1,163
8
Toyota Camry
$1,165
3
Toyota RAV-4
$1,165
18

(Source: insure.com)
If your actual premium varies from the rates in the table, your postal code and your personal profile is likely to differ from the assumed one in the study. Regardless, you have a cheaply insurable car, if you have any of the above cars.

Reasons Insurance Premiums for these Cars or Trucks are Low

Insurance companies apply something called the ‘loss experience’ of the car or truck you are insuring, when they calculate your auto insurance premium for you. They use this factor in combination with insurance rate tables plus your personal data. The loss experience reflects the history of the cost of insuring this car or truck to insurance companies, and means that the owners of some cars or trucks end up with far fewer or far less expensive insurance claims than others.

“If your car model isn’t stolen much, your comprehensive premiums may be comparatively lower, for example”, states insure.com. “If repair costs are low for your vehicle, collision coverage may be lower.”

The following table shows where the top 10 cheapest cars and trucks to insure demonstrate lower-than-average insurance losses.

Lower Insurance Losses that Lead to Better Premiums
Model
History is better than average in:
History is substantially better than average in:
Chrysler Town & Country (1)
property damage liability
medical payment
bodily injury liability
collision
comprehensive
personal injury protection
Ford Escape (2)
property damage liability
bodily injury liability
collision
comprehensive
GMC Sierra pickup (3)
collision
personal injury protection
medical payment
bodily injury liability
Chevrolet Impala
collision
none
Ford Econoline Club Wagon
n/a
n/a
Ford Fusion
none
none
Ford F-series pickup (4)
collision
bodily injury
personal injury protection
medical payment
Honda Civic
comprehensive
none
Toyota Camry
comprehensive
none
Dodge Caravan
collision
none
(Source: Highway Loss Data Institute)
(1) Losses shown are for the Chrysler Town & Country LWB
(2) Losses shown are for the Ford Escape 4WD
(3) Losses shown are for the GMC Sierra 1500 4WD
(4) Losses shown are for the Ford F-150 4WD

Enjoy shopping for your new car, now with low cost insurance data in hand.

Interesting Related Articles on Truck Insurance

Top 10 Cheapest Cars& Trucks to Insure
The Legalities of Truck Insurance
Truck Insurance: How Commercial Truck Insurance Premiums Are Determined
Truck Insurance Advantageous Safety Features For Truck
How to get Cheap Truck Insurance

Insurance Rates: How to Find discounts in the Market
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