Jun 22, 2021
Are You Looking For The Cheapest Car To Insure?
Everyone wants to know the cheapest cars to insure. It is a top consideration when you are looking for a new vehicle. The cost to have a car includes more than how much you pay for it. Insurance costs for different makes can vary by hundreds of dollars or more. The vehicle you choose to drive has a big impact on your premiums.
Finding the cheapest cars to insure in Ontario can be a time-consuming process. We know you don’t have hours and hours to dedicate to car insurance research. We’ve compiled a series of lists of the cheapest vehicles for insurance.
We compared estimates from our data to bring you the information you need to choose the right vehicle and get the best premiums. If you are starting on your purchase journey, this is a good time to include research on the cost of insuring it.
Comparing coverage from various insurers is a great way to reduce your total car ownership costs especially if you’ve taken out a loan. This guide will help you to understand how your choice of car will influence your insurance rate. Browse below to find the average price for vehicles you are interested in.
What Are The Cheapest Cars To Insure In Ontario?
The cheapest vehicle to insure in Ontario will change each year. As new vehicles become available and as providers adjust how they determine rates, they will go up or down for some models.
But there are some models that are consistently ranked as the most affordable for insurance. We’ve included models from a variety of classes to give you a good overview of your options.
Here are frequent models that top the list of the over the last 5 years and are a good choice for lower payments :
|Toyota Prius||$1,917||$159||Honda Odyssey||$2,059||$171|
Here are some additional reasons to choose one the these vehicles that are known for having lower insurance costs.
- Jeep Wrangler : You see the Wrangler on the list almost every year. As a larger vehicle, if offers great storage space, and it is ideal for families, those who travel and enjoy the outdoors. Compared to other similar models, you’ll pay less for coverage without having to sacrifice quality or style.
- Nissan Versa : The Versa is another popular subcompact. It has great fuel economy, it has a lower base price and it has a great array of safety features. These things make it one of the best options for insurance compared to other vehicles in its class.
- Toyota Prius : When you think of cheaper insurance, hybrids are not the first vehicle type to come to mind. Surprising to many, the Prius has regularly appeared in the rankings over the past few years. This is good news if you are in the market for this type of vehicle. It not only omits fewer emissions and has minimal fuel costs, but it is also known for its exceptional safety features.
- Honda Odyssey : If you are looking for a vehicle that can fit the entire family comfortably, is affordable, and offers all the features you need, the Odyssey is it. Even though SUVs are popular today, it still holds its own, and people are drawn to it because of its insurability.
- Honda CR-V : A second Honda vehicle, the CR-V is a compact SUV that looks great and is ideal for city and highway driving. The brand is known if its reliability and safety features, two things insurers value when assessing premiums.
- Chevy Cruze : When people think about better insurance, they think of compact vehicles. The Cruze is a small sedan with great fuel economy. Its affordability is one of the most appealing features. Its recently updated safety technology and reasonable repair costs make it one of the best values for insurance.
Top 10 Cheapest Cars To Insure In Canada Among Best Selling Models In 2021
We receive a lot of quote requests for the best selling cars in Canada. Here is a sample of premiums for the top 10 most popular vehicles sold in 2021 so far :
|Vehicle||Sales To Date||Premium|
Sales numbers are from January 1 to June 7 2021 from goodcarbadcar.net.
Top 20 List Of The Cheapest Cars To Insure For 2020
Here is the top 20 list of the cheapest cars for insurance rates in 2020 as reported by Forbes. Vehicle types such as SUVs and crossovers top the list. We ran these models through our quoter to provide you with the average annual premium for each vehicle listed below. We’ve also included the MSRP so you can compare premiums and vehicle price.
|Vehicle||Premium||Monthly Payment||2021 Starting MSRP|
|Mazda CX-3 Sport||$2,038||$169||$21,450|
|Honda CR-V LX||$2,082||$173||$32,770|
|Jeep Wrangler Sport S||$1,670||$139||$42,610|
|Subaru Outback 2.5i||$1,726||$143||$30,995|
|Honda Odyssey LX||$2,059||$171||$43,105|
|Subaru Forester 2.5i||$1,747||$145||$28,995|
|Jeep Renegade Sport||$1,713||$142||$27,595|
|Honda HR-V LX||$2,254||$187||$27,185|
|Honda Fit LX Sensing||$1,693||$141||$15,590|
|Jeep Compass Sport||$2,212||$184||$26,386|
|Ford Escape S||$1,799||$149||$27,999|
|Chrysler Pacifica Touring||$2,130||$177||$38,586|
|Buick Encore Preferred||$1,392||$116||$26,098|
|Hyundai Tucson SE||$1,964||$163||$27,699|
|GMC Savana Van G2500 LS||$1,170||$97||$40,648|
|Chevrolet Express Van G2500 LS||$2,195||$182||$32,500|
Cheapest Cars To Insure By Vehicle Type
SUVs, crossovers and minivans are "more politely piloted than sports or high-performance luxury cars" according to Forbes’ blogger, Jim Gorzelany. They are designed for to be families where safety is a top priority.
Also, their drivers are generally more experienced and cautious. Almost all on these lists fall into this family car category.
Both the Jeep Wrangler Sport 4WD (a SUV) and the Honda Odyssey LX (a minivan) have 5-star safety ratings. This is the highest rating a vehicle can receive from the National Highway Traffic Safety Administration which is an important factor that lowers insurance.
Here is a breakdown by vehicle type of models that are less expensive.
Cheapest SUVs To Insure
An SUV is an extremely popular vehicle today. Here are some of most affordable SUVs for premiums :
|SUV Model||Premium||Monthly Payment|
|Hyundai Santa Fe Sport||$2,463||$205|
Other Types Of Vehicles And The Cheapest Models To Insure
Trucks are popular in Canada. Here are some of the most economical pickup trucks to insure :
|Truck Model||Premium||Monthly Payment|
|Sports Car Model||Premium||Monthly Payment|
|2017 Mazda MX-5 Miata||$2,512||$209|
|2017 BMW Z4 Roadster||$3,170||$264|
|2017 Subaru BRZ||$3,441||$287|
|2017 Porsche Boxter||$2,951||$246|
|2018 Audi TT||$3,055||$255|
|2018 Chevrolet Camaro SS||2,338||$195|
|2017 Ford Mustang GT||$2,302||$192|
|2018 Subaru WRX STI||$2,681||$223|
|2018 Nissan 370Z||$3,524||$294|
Drive an electric car? Thinking about buying or leasing one in the future? Many insurance providers offer an eco friendly discount of up to 10% for drivers with an electric or hybrid car. Here are some to checkout :
|Electric Car Model||Premium||Monthly Payment|
|Kia Soul EV||$2,964||$247|
|Tesla Model 3||2,562||$214|
|Ford Focus Electric||$1,699||$142|
Luxury vehicles are associated with higher costs because they are more expensive, a bigger target for thieves, and they tend to be more expensive to repair. But you can still find good rates. Here are the least expensive luxury options to insure from Autobytel.com :
|Luxury Car Model||Premium||Monthly Payment|
|BMW 3 Series||$2,481||$207|
What Is The Cheapest Vehicle Brand To Insure?
What brand offers the lowest insurance premiums? We compared over 8,000 quotes from drivers from the top 20 brands. Our data found that domestic brands had some of the lowest insurance costs. Luxury and foreign brands had the highest insurance.
|Rank||Car Brand||Premium||Monthly Payment|
What Are The Cheapest Used Cars To Insure?
Used is generally more affordable than new vehicles as long as they aren't too old. So, if you are looking to save, consider buying a used car. According to autobytel.com, here is a list of used cars to consider :
What Are The Cheapest Cars To Insure For Teenagers?
Teens pay more for insurance. How much? Plans typically start at a higher amount than average rates for other drivers. Here is a list of some of the most affordable for teenagers :
|Vehicle||Cheapest Premium||Monthly Payment|
|Volkswagen Golf GTI||$3,198||$267|
Estimates between June 1, 2020 and June 14, 2021 for drivers between the age of 16 and 20.
Why Are Some Cars Cheaper To Insure Than Others?
Certain types of makes are less to insure than others. Insurers track all the costs involved in car insurance claims and can link them back to specific models. Things like the vehicle type, accident rates, repairs, theft and safety ratings for the vehicle have a significant impact on the rate.
Here are the main factors that make a car cheaper to insure :
- Type Of Car Driven : The type you choose to drive often reflects your lifestyle, life stage and how you use the vehicle. For example, a minivan or crossover is more likely driven by a married person with children. Insurers predict, based on the statistical data, that people who drive a certain type of vehicle are concerned with safety and drive with caution. This driver behaviour usually results in a lower risk of collisions or claims.
- Safety Ratings : A car’s safety rating impacts insurance. Higher safety ratings translate into lower fees. They are becoming safer every year with advances in engineering and technology. Safety ratings are based on crash protection and avoidance. How well does it protect the people in it in the event of a crash? New technologies that can help prevent a crash or reduce its severity to make it safer such as forward collision warning or automatic emergency braking.
- Repair Or Replacement Costs : If you purchase a vehicle that has high repair costs you will pay more. Not only are repair costs higher but so are the costs to replace it if it’s damaged too much to be fixed or if they exceed the value of the car.
- Likelihood Of Theft : In Canada, according to IBC, a car is stolen every 7 minutes. Theft is a serious problem and risk for insurers. They have to transfer some of this expense to the consumer. If you drive a car with a low instance of theft, you will save more. Adding an aftermarket anti-theft alarm device can help you save even more.
Tips To Help You Choose A Cheap Car To Insure
Saving on insurance is like anything else. You can get great value if you understand the factors that impact how much you will pay. Use these general tips to find a vehicle that meets your needs :
- Go with a compact or SUV.
- Buy a used vehicle that isn't too old.
- Avoid the temptation of getting a sports car.
- Look at the safety ratings a choose one of safest cars to save more.
- Check the most stolen cars in Canada and reconsider a vehicle if its on the list.
Cheapest Cars To Insure FAQs
Smaller cars and SUVs tend to be more affordable to insure in Canada. The Mazda CX-3 and Honda CR-V are excellent options to get low insurance rates. There are a lot of affordable cars available, especially if you have a good driving record. Spending the time to shop around is well worth it. Get car insurance quotes from the top insurers to find savings.
Teenagers and new drivers pay more for insurance. One way to help lower expenses is to drive a vehicle that is inexpensive.
This often means driving a small to mid-sized car with a good safety rating and lower replacement part costs.
One of the most affordable options is to drive something older that has a lower replacement value. Another option is to choose a used vehicle or a family car. Vehicle choice is paramount. If you choose to drive a sporty model or one with a big price tag, you can expect your insurance to skyrocket.
Here are some models to consider :
- Honda Odyssey : Not the coolest choice, but it has low premiums.
- Toyota Camry (used) : It is a reliable vehicle.
- Honda CR-V or Subaru Forester : Dependable smaller SUVs.
Most are mid-sized cars, minivans, or SUVs, are less to insure. These types of vehicles tend to have strong safety ratings, security features, and are less to repair. The Honda Odyssey is a good choice for savings. Find out how much your Ontario car insurance will be by checking rates.
It depends on the vehicle. But, in general, older cars are less expensive to insure for many reasons. For example, many drivers keep minimal coverage on older vehicles, which helps to lower insurance. Speak to your insurance provider to find out for sure if your older car is cheaper to insure.
Most smaller vehicles are less to buy and have low insurance. Some of the budget friendly compacts include the Nissan Micra, Kia Rio and Ford Fiesta for lower rates.
The most affordable vehicles for 18 years olds are small to mid-sized vehicles. Ideally, teen drivers will get added onto their parent’s insurance policy as an occasionally driver to save the most.
Shop Around To Find A Cheap Vehicle To Insure
The car you choose has a huge impact on how much you will pay for insurance. Shopping around and doing your research could save you hundreds of dollars annually. When you find the right vehicle, we'll gladly help you find the best coverage at the lowest price. Try our car insurance calculator to get an estimate for your vehicle.
We culled lists from top auto sites across the internet to curate a list of the most affordable vehicles for insurance. We also reviewed our internal data for Ontario car insurance quotes completed to determine the best options. We checked from Ontario drivers with a clean driving record and G drivers licence (unless otherwise stated). Results can vary based on your specific situation.
*Estimates between June 1, 2020 and June 14, 2021.
Here Are Some Other Articles You May LikeAverage Car Insurance In Ontario By Month, Age And Gender
A Guide to the Ontario Graduated Driver's Licensing System
The Total Cost To Own And Drive A New Car
Demerit Points In Ontario
<<What's The Trade-In Value Of My Car?E-Bike Laws In Ontario And Toronto>>