SUVs, Crossovers Dominate “Cheapest to Insure” List
Jeep Wrangler Tops List, Honda CR-V, Ford Escape Make List
As if new car buyers need any more reason to buy an SUV or crossover, you can add insurance affordability to the list. On this year’s Insure.com cheapest-to-insure vehicle list for 2015, 7 out of the Top 10 least expensive to insure vehicles were SUVs or crossovers. If you expand the list to include minivans, the total comes to 9 out of 10, with the smart fortwo being the only non-“truck” on the list.
Why are SUVs so affordable to insure? One hypothesis is they’re frequently purchased by parents, who often drive cautiously and value safety features as a key selling point. However, the lowest-cost Jeep Wrangler Sport two-door seems to contradict this with mediocre crash test scores. However, insurance rates are typically determined by the actuarial odds of predicted claims, rather than crash-test scores. The Wrangler Sport two-door’s average annual premium is $1,134.
On the opposite end of the spectrum, the most-expensive to insure list was dominated by sports cars, with the Nissan GT-R Nismo topping the list, with an average annual premium of $3,574. Other models on the most-expensive-to-insure list were three Mercedes-Benz AMG models, two BMWs, two Porsches, and the Audi R8 5.2 Spyder Quattro.