Which Are The Cheapest Cars And SUVs to Insure in the US? Your 2024 Update

This is a sponsored post by Lemonade Auto Insurance

Vehicles that come with great safety features and making headlines as some of the cheapest cars to insure this year. But what makes these cars so cheap to insure, and why is the risk of driving one of these cars lower compared to others? These and other questions will be addressed as we explore the cheapest cars and SUVs to insure in 2024. But first, let’s look at what determines the price of your car insurance.

What Car-Related Factors Contribute to Car Insurance Prices?

It’s true that your profile as a driver and an individual contributes to your car insurance costs. But what about your choice of car? Insurance companies know that certain types of individuals choose certain types of cars (generally speaking), lending to the price they will end up paying for their policy.

For instance, if you insure a car typically driven by a single person, chances are you’ll be paying more for your car insurance because statistics show that married people claim less often than singles.

Further to that, it’s common that single people select cars within a set category compared to those who are married. So, the category you fall into (age, gender, marital status, etc.) affects not only your insurance premiums but also your car purchasing decisions–statistically speaking.

Companies like Lemonade Auto Insurance offer lots of opportunities for savings and discounts that can help lower your premiums—including savings for low-mileage and safe driving habits, and extra discounts for bundling and for car owners who drive EV or hybrid cars, depending on your state.

Here are other car-related factors that influence your car insurance:

• The type (make & model) of the car you drive
• The safety rating of that make and model
• The level of likelihood that the car may be stolen
• The type of fuel the vehicle uses
• The size of the vehicle
• The market value of the vehicle

With these factors in mind, let’s look at the top five cars and SUVs, respectively, that tend to get the best monthly insurance premiums.

What are the 5 Cheapest SUVs to Insure in 2024?

SUVs are often cheaper to insure than sedans (relatively speaking) because these cars are predominantly driven by family-oriented individuals who tend to drive more responsibly. According to Bankrate, the following SUVs are the cheapest to insure in the US based on some of the factors mentioned above:

• Subaru Outback
• Honda CR-V
• Honda Pilot
• Ford Escape
• Honda Odyssey

All five of these SUVs have a few things in common. First, they all have high safety ratings. This means the vehicles are designed to proactively PREVENT car accidents from happening through technology like sensors, rear cameras, and high-tech braking systems.

Secondly, these vehicles are also cheaper to repair. When it comes to Japanese cars, American cars, and German cars, parts tend to be more available, so there are lower import costs for parts compared to Italian, Korean, or British cars.

Thirdly, these SUVs fall under the family vehicle category, so they are more likely to be driven by individuals who are married, middle-aged, and perceivably more responsible in their driving. Again, this is generally speaking and based on overall statistics.

Finally, all five of these vehicles have significantly low theft rates in the US. Since they are less likely to be stolen, insurance companies are happy to drop their monthly premiums because the risk factor is lower.  

What are the Five Cheapest Cars to Insure in 2024?

According to the same source, the five cheapest cars (sedans) to insure are:

• Honda Civic
• Toyota Camry
• Toyota Prius
• Nissan Altima
• Dodge Challenger

The same reasons apply as above, with a few additions. Cars like the Toyota Prius, for instance, are not considered high-performance cars. They are generally moderate-speed vehicles that are less likely to exceed speed limits (which is a major cause of accidents).

Another factor to note is that all five of these cars are popular among drivers in the US. You can hardly drive around town without seeing one of them, right? So, repairing these cars is cheaper because parts are purchased in bulk and are almost always available at car repair dealerships.

These five cars have also stood the test of time since they have been around for a long time and are still popular choices among US drivers to this day. This shows that they are reliable and solid car choices for those who can afford them.  

Wrapping Up

As you can see, vehicle insurance depends on more than just the driver. The car itself also holds an influence over how much you will pay, so choose your car's make and model with this in mind. Either way, make sure you insure your vehicle with a good insurance company since car accidents tend to happen when we least expect them.