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Least expensive cars to insure

 
Cheapest car to insure

A lot of factors get taken into consideration when you're planning on buying a new vehicle, one of which is the cost of the car. A recent JD Power study found that when consumers are researching cars online, vehicle pricing is the second most frequently viewed factor after model information.

But another cost to consider is that of the insurance. The cheapest cars to buy aren't necessarily going to be the least expensive to insure. If you're already researching car prices online, comparing car insurance quotes for different models can help ensure you're making the most economical vehicle decision for your budget.

Top 10 cheapest cars to insure

According to Insure.com, these were the 10 least expensive cars to insure in America in 2016:

  1. Honda Odyssey LX
  2. Honda CR-V LX
  3. Dodge Grand Caravan AVP 2WD
  4. Jeep Patriot Sport 4WD
  5. Jeep Wrangler Sport 4WD
  6. Jeep Compass Sport 2Wd
  7. Ford Escape S 2WD
  8. Buick Encore Sport Tour 2WD
  9. Jeep Cherokee Sport Utility 2WD
  10. Nissan Frontier S King Cab Pickup

Though these results are for car insurance in America, similar results have been noted here in Canada. Vehicles including the Ford Escape, Jeep Compass, Jeep Patriot and Dodge Grand Caravan were included among of a list of the least expensive cars to insure in Canada in 2014.

Why does vehicle make matter?

Although car insurance quotes are based on a number of factors including your personal driving record and insurance history, the make of the vehicle also contributes to the overall cost of your car insurance premium.

Certain models and makes are more likely to result in certain claims than other vehicles. For example, cars that are more likely to get stolen typically come with a higher insurance premium. The popularity of the vehicle may also come into play. The Ford F-series are some of the hottest trucks on the market, but they also accounted for seven out of the top 10 spots in the Insurance Bureau of Canada's 2016 most stolen vehicles list.

Minivans, crossovers and utility vehicles

It used to be that compact cars frequently made these types of lists, but in the past few years larger vehicles and SUVs have sped ahead. Much of this has been due to improved safety mechanisms and ratings.

For example, the Honda Odyssey has a five-star crash rating from the National Highway Traffic Safety Administration and is relatively inexpensive to repair.

You're the ultimate driving factor in your car insurance rates

Though your own insurance history will have the biggest influence on your car insurance premiums overall, the variances in insurance costs associated with your desired models may help you decide which vehicle is best for you.

Before you purchase your next vehicle, use OTIP’s online quick quoter to compare quotes for different models to see if there will be a difference in your car insurance rates. If you have any questions about this, don't hesitate to give us a call at 1-866-523-4111.

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