And the Cheapest Vehicle to Insure Is … the Honda Odyssey LX
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And the Cheapest Vehicle to Insure Is … the Honda Odyssey LX

The minivan has been in the top 20 list every year that Insure.com has published the rankings, according to the website.

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For the second year in a row, Insure.com has declared the Honda Odyssey LX as the cheapest vehicle to insure.

The minivan has been in the top 20 list every year that Insure.com has published the rankings, according to the website.

“Minivans have always been popular on our inexpensive-to-insure list,” explains Mark Vallet of Insure.com. “In 2011, all four of the top spots were minivans, and every year since at least one minivan has been in the top five, with the exception of 2013 when a minivan didn’t slot in until 11th place.”

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Minivans are loaded with safety features and garner high safety ratings (the Odyssey was awarded an overall five-star crash rating from the National Highway Traffic Safety Administration) and primarily are driven by a parent hauling children around.

“All of these factors are music to an insurance company’s ears,” Valley says. “Safety features, great safety rating and extra cautious drivers lead to fewer accidents, fewer claims and lower rates.”

As for the rest of the top 20:

Rank Make\Model Average Annual Premium
1 Honda Odyssey LX $1,112
2 Jeep Renegade Sport $1,138
3 Jeep Wrangler Black Bear $1,148
4 Honda CR-V LX $1,170
5 Jeep Compass $1,183
6 Subaru Outback 2.5l $1,187
7 Jeep Cherokee Sport $1,188
8 Buick Encore (tie) $1,190
8 Jeep Patriot Sport (tie) $1,190
10 Subaru Forester 2.5l $1,196
11 Ford Escape SE $1,203
12 Mazda CX-3 $1,204
13 Honda Pilot LX $1,205
14 Fiat 500X Pop $1,210
15 Nissan Frontier S $1,216
16 Hyundai Tucson SE $1,217
17 Subaru (XV) Crosstrek 2.0l (tie) $1,219
17 Honda HR-V LX (tie) $1,219
17 Ford F-150 XL (tie) $1,219
20 Ford Edge SE $1,221

 

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Jeep set a new record with half of the vehicles in the top 10.

“When people think of Jeeps, they typically think about ruggedness, not bells and whistles,” says Penny Gusner, consumer analyst for Insure.com. “The Jeeps on the list are the entry-level and thus would cost less to repair or replace than a car that comes with lots of expensive luxury features. Jeeps do have strong safety features, which can help lower auto insurance premiums. Jeep offers owners multistage airbags, electronic stability control and electronic roll mitigation.”

The common dominator in the least-expensive-to-insure list is safe drivers, according to Insure.com.

“Notice that all of these are essentially family vehicles that, overwhelmingly, will be subjected to normal driving in the hands of responsible parental types,” observes Joe Wiesenfelder, executive editor with Cars.com.

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While sport utility vehicles had their problems in the past – mainly with rollovers – the safety ratings of sport utilities have improved dramatically over the years. Safety features and accident rates have a big impact on rates.

“Generally speaking, the least expensive vehicles to insure on the list have to do with safety factors,” says Loretta Worters, vice president of communications for the Insurance Information Institute. “Accident-avoidance features, airbags and restraint systems all impact rates. Anything that reduces the risk of damage to the vehicle and injury to the people inside results in less expensive insurance.”

Sports Cars, High-End Vehicles Are Most Expensive to Insure

On the opposite end of the spectrum, the most-expensive-cars-to-insure list is mainly made up of sports cars or luxury cars.

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Rank Make/Model Average Annual Premium
1 Mercedes S65 AMG (convertible) $3,835
2 Dodge GTS Viper $3,779
3 Mercedes S63 AMG 4Matic (convertible) $3,624
4 Maserati Quattroporte GTS $3,547
5 Mercedes S550 (convertible) $3,502
6 Mercedes C43 4Matic (convertible) $3,418
7 Mercedes Maybach S600 $3,355
8 Mercedes SL65 AMG (convertible) $3,322
9 Nissan GT-R Nismo $3,313
10 Audi R8 5.2L V10 Quattro $3,267
11 BMW M6 Gran Coupe $3,211
12 Audi S8 4.0T Quattro Plus $3,208
13 Audi RS7 Quattro Prestige $3,176
14 Mercedes AMG GT $3,164
15 Mercedes C300 (convertible) $3,157
16 Mercedes S600 Bi-T $3,111
17 Porsche Panamera Turbo Executive $3,059
18 Porsche 911 Turbo S $3,050
19 Jaguar F-Type SVR (convertible) $3,035
20 BMW Alpina B6 XDrive Grand CP $3,030

While most of the cars on the list are out of the average person’s price range, sticker price is not always a reliable indicator of insurance costs, according to Insure.com. In many cases, less expensive but higher-performance cars cost more to insure.

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As an example, the most expensive car to insure (Mercedes S65 AMG convertible) is indeed the most expensive car on the list with a MSRP of $247,900. However, the second most expensive car to insure (Dodge GTS Viper) is a relative bargain at $87,895.

”The Dodge Viper, Audi R8 and Nissan GT-R are extremely powerful cars, exceeding 500 horsepower,” says Wisenfelder. “This plays a part when it comes to insurance costs because performance vehicles are likely to be driven more aggressively, which puts them at a higher risk of damage.”

It’s not just high performance that jacks up the rates though. A sky-high sticker price and the accompanying repair costs also affect premiums.

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“It’s no coincidence that many of the vehicles on the most-expensive-insurance list are more than just Mercedes models – they’re among the most expensive versions of those models, and consequently the most expensive to replace and possibly to repair,” Wisenfelder explains.

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