Despite rising auto prices and the hassle of buying a new vehicle, many love car shopping. According to Motor Intelligence, automakers sold 15.6 million vehicles in the U.S. in 2023, marking a 12.3% increase from 2022. In comparison, over 17 million vehicles were sold in 2019 before the coronavirus pandemic disrupted the global auto market.
If you’re in the market for a car, consider the impact a vehicle’s make and model will have on how much you pay for car insurance. Typically, more expensive cars cost more to insure while cheaper, smaller cars cost less.
Curious about insurance rates by car? Read on to learn more about average insurance rates by model and make, why rates vary by car, tips on how to choose the best insurance for your model and more. Use the tool below to calculate insurance for car models and makes.
Insurance Rates by Car Model
- The Maserati Quattroporte is the most expensive car to insure at an average annual premium of $6,166, based on CarInsurance.com’s study.
- The Honda HR-V is the cheapest car to insure at $1,673 per year, according to a rate analysis by CarInsurance.com.
- Luxury makes like Audi, BMW and Maserati usually cost more to insure. This is because they often need special parts to replace and specialized mechanics.rance.com’s study.
What are the most affordable cars to insure?
Want to know which vehicles cost the least to insure? Models by Honda, Mazda, Chevy and Kia top the list. The cheapest cars to insure have readily available parts. See the table below for the most affordable cars to insure.
| Make model | Average rate |
|---|---|
| Honda HR-V | $1,673 |
| Mazda CX-30 | $1,679 |
| Chevrolet TrailBlazer | $1,683 |
| Chevrolet Express 2500 Cargo Van | $1,685 |
| Kia Seltos | $1,693 |
What are the priciest cars to insure?
The costliest vehicles to get coverage for, on the other hand, include models by Maserati, Audi and BMW. See the table below for the most expensive vehicles to insure and their annual rates.
| Make model | Average rate |
|---|---|
| Maserati Quattroporte | $6,166 |
| Maserati Quattroporte Trofeo | $6,131 |
| Maserati Ghibli Trofeo | $5,883 |
| Audi R8 Performance | $5,716 |
| BMW M8 | $5,201 |
Why do insurance rates vary by car?
The type of car you drive is one of the key factors in how much you’ll pay for auto insurance. Why? Because luxury or more expensive vehicles often cost more to repair, so insurers will charge you more to insure them.
Additionally, if your car is one of the most popular models for car thieves, such as the Honda Civic or Honda Accord, your rates will also be higher.
“Typically, foreign vehicles – such as a BMW, Toyota or Mercedes – will all cost more to insure because most of these vehicles require special parts to replace and special mechanics specializing in foreign vehicles,” says Lauren McKenzie, an insurance broker at A Plus Insurance. “Sports cars will also be more expensive to insure because their cost for parts is generally much more expensive.”
Why do insurance rates vary by car make and model?
The most significant factors insurance companies consider when setting rates are the vehicle, how much it will cost to repair or replace, and the driver risk.
“There are many reasons why insurance rates vary from model to model and make to make,” says Brian Moody, senior editor of Autotrader. “The main consideration is the cost of repair. An insurance company has a responsibility to its customers and employees to make financially wise decisions,” he says. “If an insured drives a Rolls-Royce, it’s logical that the cost will be higher for that customer because that specific car may be rare and expensive to repair. The expected availability of parts is also a factor.”
Additionally, there are a few other factors that affect how much you pay for insurance:
- Vehicle age: Newer vehicles cost more to insure because they’re worth more.
- Safety ratings: Safer cars get into fewer accidents.
- Sticker price: The higher the price of the car, the more you’ll pay for insurance.
- Theft rate: Vehicles that are stolen more often cost more to insure.
ExampleIf a vehicle is worth $10,000, it would cost a lot less to insure than a vehicle worth $60,000 because the cost of parts will be more expensive on a higher-value vehicle than on a lower-valued vehicle. If a vehicle is totaled out, replacing a car at $10,000 vs. $60,000 is a significant price difference, making insurance prices more expensive for newer, expensive cars.
What is a car’s make and model?
Think of a car make and model like your last and first names. The “make” is the last name or brand name – Dodge, Lexus, BMW, Tesla, etc. The “model” would be your first name – the individual model of the vehicle, so this would be Camry (Toyota), Ram (Dodge) or Fusion (Ford).
To get accurate insurance quotes, you need to know the make and model of your vehicle, as well as the model year and other details: ZIP code and the ages of the drivers that will be listed on the policy, current insurance status, vehicle ownership status and whether you rent or own your home.
Check out our detailed guide on car make and model: What they mean and why they matter
Car insurance rates for popular makes and models
Eager to learn what it costs to insure crowd-favorite makes and models? Here’s a roundup of premiums for some of the cars on Kelley Blue Book’s list of the best-selling cars so far in 2024.
| Make model | Annual rate | Monthly rate |
|---|---|---|
| Ford F-Series | $2,202 | $183 |
| Chevrolet Silverado | $2,157 | $180 |
| Toyota RAV4 | $1,852 | $154 |
| Tesla Model Y | $3,103 | $259 |
| Honda CR-V | $1,722 | $144 |
| GMC Sierra | $2,154 | $180 |
| Toyota Camry | $2,093 | $174 |
Expert tips for choosing the best insurance for your car model
To pick the best car insurance policy based on your vehicle’s model, always research the cost of insurance before buying a new or used car. Price out different coverage levels, too, including collision and comprehensive, for your chosen model.
“A high-horsepower car will cost more, as will a specialty car. Factoring that in before making a purchase can really help manage costs,” Moody says.
Chong Gao, director of product management research and development at Mercury Insurance in Los Angeles, agrees.
“Carefully compare quotes from different insurers on the various vehicles you are considering. Keep in mind that luxury and high-performance vehicles tend to cost more to insure, as well as larger vehicles that have the potential to cause more damage,” Gao says.
Additionally, if your vehicle is older, think about decreasing insurance coverage to liability only.
“As the actual cash value of your car drops, it could be more cost-effective to replace or repair the vehicle yourself in the event of an accident instead of paying for comprehensive and collision coverages,” Gao says.
Final thoughts: Insurance rates by car
The more expensive your car is, the more you’ll pay for car insurance. If cost is your main concern when shopping for a vehicle, make sure you buy a car that’s highly rated for safety, is not frequently stolen and is one of the cheapest cars to insure.
“Most sports cars are expensive to insure,” McKenzie says. “The newer the vehicle, the greater the cost for insurance – especially for younger drivers.”
Frequently asked questions: Rates by make/model
Can a car’s trim and body style affect insurance rates?
In addition to year, make and model, your vehicle’s trim and body styles can affect your car insurance rates. Trim levels that offer greater horsepower and luxury details can add to the vehicle’s MSRP, which could mean higher rates.
“The trim level of a vehicle may impact insurance prices a little, but not much,” McKenzie says. “The different packages and safety features a vehicle has could impact $5-$10 monthly on insurance, depending upon the vehicle.”
Here’s a summary of various trim types and body styles:
- Trim types: Standard, sport, luxury
- Body style: Coupe, sedan, hatchback
“Generally, smaller vehicles are cheaper to insure because they are cheaper to replace. Body style is factored into the rate because it does also play a part with having to do with safety features,” McKenzie says. “An SUV or truck may be cheaper to insure than a sports car, not only because of the difference in the value of the vehicles, but SUVs and trucks are generally safer than a small car, and may not take that much damage in the event of an accident.”
Discover everything you need to know about luxury car insurance
How do car insurance rates for new models compare to older models?
Newer cars are generally more expensive to insure versus older cars due to their higher market value and the cost of replacing advanced technology and specialized parts, according to Chong Gao with Mercury Insurance.
How do safety ratings influence car insurance rates?
Safety ratings reflect how the vehicle protects its occupants in the event of a crash, per Gao. This will reflect in personal injury protection/medical payments coverage on your policy, but this is only a small portion of total premium costs.
Does the color of a car affect the insurance premiums?
The color of your vehicle is not a rating factor for determining the cost of your policy. Mark Friedlander of the Insurance Information Institute reports that this is an urban myth not based on reality. It doesn’t matter if your car is red, green, blue, gray, yellow, white or any other color.
Resources & Methodology
Source
Kelley Blue Book. “The 25 Best-Selling Cars of 2024 So Far.” Accessed September 2024.
Methodology
CarInsurance.com commissioned Quadrant Information Services for full-coverage insurance rates for more than 2,500 car models for a 40-year-old male driver with a 12-mile commute, 10,000 annual miles driven, 100/300/100 liability limits with $500 collision/comprehensive deductibles. 28,561,720 quotes for 1,439 make/models across 501 U.S. cities were analyzed.
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Laura Longero
Executive Editor
Laura Longero is an insurance expert and Executive Editor at CarInsurance.com, where she specializes in helping consumers navigate the complexities of the financial and insurance industries. She has 15 years of experience educating people about finance and car insurance. Prior to joining CarInsurance.com, she worked as a reporter and editor at the USA Today Network. Her expertise provides readers with practical guidance, helping them make informed choices about their financial and insurance needs.
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John McCormick
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John is the editorial director for CarInsurance.com, Insurance.com and Insure.com. Before joining QuinStreet, John was a deputy editor at The Wall Street Journal and had been an editor and reporter at a number of other media outlets where he covered insurance, personal finance, and technology.
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Leslie Kasperowicz
Executive Editor
Leslie Kasperowicz is an insurance educator and content creation professional with nearly two decades of experience first directly in the insurance industry at Farmers Insurance and then as a writer, researcher, and educator for insurance shoppers writing for sites like ExpertInsuranceReviews.com and InsuranceHotline.com and managing content, now at CarInsurance.com.
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Nupur Gambhir
Managing Editor
Nupur Gambhir is a content editor and licensed life, health, and disability insurance expert. She has extensive experience bringing brands to life and has built award-nominated campaigns for travel and tech. Her insurance expertise has been featured in Bloomberg News, Forbes Advisor, CNET, Fortune, Slate, Real Simple, Lifehacker, The Financial Gym, and the end-of-life planning service.