Cheapest Used Cars To Insure
The cheapest used cars to insure are the Chrysler Pacifica, Chrysler PT Cruiser, Chevy Equinox, Dodge Caravan, Ford Escape, Ford Taurus, and Honda Accord.
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Looking for the cheapest used car to insure? As it turns out, there may not be one single best option for all drivers.
In this article, we’ll list some of the cheapest cars to insure. While this may be a good starting point when looking for used cars, the cost of auto insurance premiums can vary greatly by driver and location. Rather than looking for a specific car model, it’s better to know what to look for when purchasing a car and how to compare rates.
It’s smart to look for an affordable used car to insure, as a low auto insurance premium will save you money in the long term. We provide advice for finding such a vehicle and recommend the best car insurance companies for low-cost policies.
What Makes A Used Car Cheap To Insure?
The vehicle you drive is one of several factors that affects car insurance premiums. Used and older cars are typically cheaper to insure than new cars because they use older technology and repairs cost less. Insurers also set individual rates for customers based on factors such as age, credit score, driving record, location, and marital status.
If you’re trying to get the lowest auto insurance rates, choosing certain vehicles can help. When looking for the cheapest used car to insure, consider the following:
- Safety features: Many providers offer discounts for vehicles with safety features like anti-lock brakes and airbags. Passengers are less likely to be seriously injured after a crash, which means lower medical bills.
- Safety ratings: The overall crash safety rating of a vehicle influences annual premiums. Two cars may have the same safety features, but one of them may have a safer construction overall, for example.
- Anti-theft features: Anti-theft features can reduce the likelihood that your vehicle is stolen and increase the chances of recovering your vehicle if it’s stolen. Many insurers provide discounts on comprehensive car insurance coverage for vehicles with anti-theft features installed.
- Value of vehicle: The more expensive the car, the higher the cost of insurance, since its average costs for repairs are typically higher.
- Add-on features: Add-on features such as luxury accessories increase the value of the vehicle and make it more expensive to repair or replace. Car insurance rates are higher for cars that have all the bells and whistles.
- Type of vehicle: Sports cars, high-end luxury models, and electric vehicles are expensive cars to insure, as they have unique components and cost more to repair. Drivers of sports cars may be likely to speed, which means insurers increase rates for these types of cars.
- Repair costs: In general, a car that is more expensive to repair will be more expensive to insure. Cars that use standard parts are cheaper to insure, whereas cars that use especially old, rare, or hard-to-find components will cost more to insure.
In general, when looking for the cheapest used car to insure, look for vehicles around five to ten model years old that are standard, reliable models without extra accessories.
Choose The Right Coverage
Another big part of finding cheap car insurance is to get the appropriate coverage level. The cheapest option is to get your state’s minimum bodily injury and property damage liability coverage.
If you take out an auto loan to buy a used car, you’ll probably be required to have collision and comprehensive coverage depending on the value of the loan and age of the car. However, if you can pay for the car with cash, you get to decide whether to buy these coverages or not.
As a rule of thumb, if your car is valued at $3,000 or below, you probably don’t need collision or comprehensive coverage. If you have an expensive repair, the car might not be worth fixing. Similarly, if your car is over 10 years old, you likely don’t need a full coverage insurance policy.
Another way to look at it is to see how much you’d pay for full coverage and compare it to the car’s value. If you pay 10 percent of your car’s value for comprehensive and collision coverage, full coverage might not be worth it.
As an example, let’s say you pay $1,000 for car insurance and $700 of that is for comprehensive and collision coverage. If your car is worth $5,000, you’re paying more than 10 percent of its value for comprehensive and collision.
Keep in mind that you’ll still need to cover damage to your car in accidents you cause. Be sure you can take on this risk before dropping full coverage.
What Are The Cheapest Models To Insure?
While there may not be one model that is always the cheapest used car to insure, there are several models that meet many of the criteria mentioned above and are good vehicles to look for when starting your search. Whether you’re looking for a sedan, minivan, or SUV, you have options:
- Chrysler Pacifica
- Chrysler PT Cruiser
- Chevrolet Equinox
- Dodge Caravan
- Ford Escape
- Ford Taurus
- Honda Accord
- Honda Civic
- Honda CR-V
- Honda Odyssey
- Hyundai Santa Fe
- Kia Sedona
- Mazda 3
- Nissan Sentra
- Subaru Forester
- Subaru Outback
- Toyota Camry
- Toyota Corolla
- Toyota RAV4
- Volkswagen Jetta
To begin your hunt for the cheapest used car to insure, start by checking dealership websites for these models or other cars that meet the criteria discussed above. Many used car dealerships have online listings of their inventory that include all the information an insurer would want to know, such as mileage and vehicle identification number (VIN).
Before you purchase a used vehicle, you might consider having the vehicle inspected, which any reputable dealership will allow. Also, be sure to consider maintenance costs when selecting a used car. Even if one car has a cheaper monthly insurance premium, it could cost you more down the road if it regularly requires maintenance. RepairPal is a good source to research vehicle reliability and average annual maintenance and repair costs.
How To Reduce Your Car Insurance Premium
In addition to choosing the right car, there are other ways that drivers can lower their auto insurance premiums. The best way to find the lowest price available to you is to shop around and compare options from multiple auto insurance providers.
If you already have another type of insurance, such as homeowners insurance, consider insuring your car with the same company. Many providers offer discounts for bundling home and auto insurance. Also, consider looking for insurers that offer usage-based coverage options. If you’re a safe driver and don’t often drive late at night or on weekends, you may be able to save money. Several providers have mobile apps that track your driving habits to reduce premiums.
You can also increase your deductible if your budget allows. You’ll pay more if you get into an accident, but you’ll pay less for your policy each month.
Best Car Insurance Companies
Once it comes time to purchase insurance for your used car, it may not necessarily be the best idea to go with the lowest-priced option. Be sure that you balance cost with coverage, reliability, and quality claims servicing. Two providers that we recommend for drivers looking for low-cost, high-quality auto insurance are Geico and USAA.
Our review team has closely studied the best car insurance companies in the industry based on cost, discounts, industry reputation, customer reviews, and more. Finding a reputable provider is important, but the best way to find the lowest price is to compare multiple car insurance quotes.
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Geico: Best For Basic Coverage
Geico is one of the largest insurers in the United States. In 2023, the insurer wrote over $38 billion in premiums according to the National Association of Insurance Commissioners (NAIC). There’s a reason Geico is so popular: it provides low insurance costs for high-level coverage.
Geico’s usage-based insurance option, DriveEasy®, can be an excellent tool for reducing premiums. The app tracks distracted driving, hard braking, and driving times to offer policy reductions. However, it’s only available in select states.
We rate Geico 4.5 out of 5.0 stars and name it the Best for Basic Coverage because of its high levels of customer satisfaction, coverage options, and strong industry reputation. It has an A+ rating from the Better Business Bureau (BBB) and an A++ financial strength rating from AM Best.
Learn more by reading our full Geico auto insurance review.
USAA: Best For Military Members
USAA has affordable rates and a high number of discount options. Like Geico, it has an A++ financial strength rating from AM Best and a long history of meeting customer claim obligations. We rate USAA 4.5 out of 5.0, which is higher than many providers on our list. The one drawback is that it’s not available to all customers. Only military members and their families qualify for a policy.
USAA has some of the cheapest car insurance rates of any insurer and many discount opportunities for drivers who sign up for automatic payments, take a defensive driving course, receive good grades in school, and more.
Learn more by reading our full USAA auto insurance review.
Cheapest Used Cars To Insure: FAQ
Below are the most frequently asked questions about the cheapest used cars to insure:
Are older cars less expensive to insure?
Yes, older cars are cheaper to insure on average. Because of depreciation, insurance companies will pay less to replace older vehicles, and that means savings for you. However, classic cars often appreciate in value so this isn’t a rule across the board.
Are used cars less expensive to insure?
Insurance for used cars is usually cheaper than insurance for new vehicles. However, a lightly used car that’s only one or two years old may still have high insurance rates, depending on the vehicle make and other factors. You’ll also need to pay for full coverage if you don’t own the car outright.
How can I lower my car insurance premiums?
Shopping around and comparing quotes from multiple insurers is the best way to find affordable coverage. You can also look for used vehicles with good reliability ratings, safety features, and anti-theft devices to find lower insurance rates.
How We Rate Auto Insurers
Our review team extensively researches auto insurance providers to deliver informed and unbiased assessments of leading companies. We evaluate several key rating factors that are important to consumers to determine which providers are the best in the industry:
- Reliability: It’s important that an auto insurer is able to meet its claims obligations. Companies with a strong financial strength rating from AM Best score best in this category. Established insurers with a long history of reliable service also receive positive marks.
- Availability: Insurance companies that offer wider availability to consumers in terms of state availability and few eligibility requirements are more likely to meet consumer needs.
- Coverage: To determine our coverage score, we look at the number of coverage options available as well as coverage limits and deductible options. Our ratings also take into account additional services and benefits like roadside assistance.
- Pricing: Cost can be difficult to compare between insurers because so many factors impact annual premiums. The cheapest insurer for one driver may not be the cheapest for another. To determine our cost score, we look at insurance rate estimates generated by Quadrant Information Services, discount opportunities, and consumer reports.
- Service: We comb through customer reviews on sites like the Better Business Bureau (BBB) to learn about customer experiences. Insurers with a low volume of complaints score well in this area. We also consider the claims process, giving higher ratings to car insurance providers that offer a smooth experience.
- Technology: Providers with an online quote tool, easy-to-use claims app and a usage-based insurance app score best in this category.
*Data accurate at time of publication.