What Are the Cheapest SUVs to Insure in 2023?
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The test drives are over. Your favorite color is finally in stock, and you’re ready to bring your new car home. But did you know that before you can drive your new vehicle off the dealership lot, you’re required to have an auto insurance policy in place?
This guide explores how auto insurance rates are determined and highlights the top five cheapest SUVs to insure for 2022.
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How Are Insurance Premiums Determined?
Different car insurance companies use a variety of methodologies when determining rates, so it’s no surprise that different types of vehicles cost different prices to insure. If you’re looking for the cheapest SUV to insure, the vehicle itself isn’t the only factor – a variety of dynamics can cause it to be more expensive to insure, such as:
- Purchase Price: Expensive cars are more costly to insure. Whether you purchase a luxury sports car or an expensive SUV, it will always cost more to insure than a smaller, less expensive, or used car.
- Where You Live: If you live in a region where car thefts are more prevalent, your vehicle will likely be pricier to insure. Where you park your car is also a factor – if you park on the street, your car is more susceptible to damage and theft.
- How You Drive: Your driving record is a major factor in determining your auto insurance rate. If you have numerous violations for accidents or speeding, you’ll be considered a high-risk driver by insurance companies.
- How Much You Drive: The number of miles you drive per year is important when determining what you’ll pay for auto insurance coverage. The more your car is on the road, the more it’s at risk.
- Your Age and Gender: Statistically, women are safer drivers than men. In addition, men are more likely to get into accidents and be arrested for drunk driving. As such, women usually pay less than men for car insurance across the board.
Average Auto Insurance Costs in 2022
The cost of car insurance varies widely from state to state. No matter which state you live in, adding expanded coverage options like comprehensive coverage and injury liability coverage can increase your rate.
As of April 2022, the national average annual rate for full car insurance coverage in the United States is $1,674, or $139.50 per month. The national average for minimum car insurance coverage is $565 per year or $47.08 per month.
Cheapest SUVs to Insure in 2022 by Annual Premium
There’s a reason why SUVs — both compact and large — have been such popular vehicles among American drivers for so long. They often offer the all-wheel drive capability drivers want to combat poor driving conditions while also providing the ample cargo and passenger room drivers prefer.
If you’re in the market for a new SUV, the following five vehicles are the cheapest SUVs to insure as of March 2022.
Manufacturer’s suggested retail price (MSRP): $25,500
Average annual premium: $1,637
Average monthly premium: $136.41
The Hyundai Tucson is powered by a 2.5-liter gasoline engine and is also available in a plug-in hybrid model. Critics and drivers have lauded the car’s expansive center-console layout and 10.3-inch touchscreen infotainment system.
Despite its classification as a “compact” SUV, the Tucson’s interior feels very large. It also boasts 80 cubic feet of cargo space with the rear seats folded down.
Also consider: Nissan Rogue
Average annual premium: $1,613
Average monthly premium: $134.41
One of the Subaru brand’s most popular SUVs, the Forester always gets high marks for off-road capability and ample cargo room. And, of course, Subaru’s reputation for producing only all-wheel drive vehicles precedes it — both rural and suburban drivers love its cargo room and driving capability.
While it’s not exactly built for rock climbing, it’s the go-to car for campers and outdoor enthusiasts nationwide.
Also consider: Ford Escape, Toyota 4Runner
Average annual premium: $1,606
Average monthly premium: $133.83
The Subaru Crosstrek is the Forester’s younger, peppier cousin. It combines the brand’s all-wheel capability with a car-like ride that’s a tad sportier when accelerating on the highway. In addition, the vehicle’s 60/40 split-folding rear seats offer ample cargo space for all your camping gear.
That said, critics have been skeptical that, while the Crosstrek is marketed as a warrior of the outdoors, it’s not as peppy or off-road capable as Subaru stalwarts like the Forester and Outback. In addition, the Crosstrek’s low MSRP doesn’t just make it one of the cheapest SUVs to insure but one of the most affordable SUVs overall as well.
Also consider: Mazda CX-5, Chevrolet Equinox
Average annual premium: $1,574
Average monthly premium: $128.91
If Subaru’s compact crossovers are the favorite of outdoor enthusiasts, then Honda’s popular CR-V compact SUV might be regarded as the preferred SUV of cities and suburbs. The car’s ample storage room sits on a small footprint that’s easy to park.
The CR-V also boasts peppy highway acceleration and nimble handling, making navigating close-knit city roads a treat. So not only is it one of the cheapest SUVs to insure, but it’s also one of the most fun compact SUVs to drive.
Also consider: Toyota RAV4, Subaru Outback
Average annual premium: $1,585
Average monthly premium: $132.08
Although it feels a bit silly to classify a vehicle with as much history as Jeep Wrangler as a “mid-size four-wheel-drive compact SUV,” the category doesn’t lie. Jeep Wrangler’s legendary off-road capability leaves most Subaru builds back at the campsite while it scales a mountaintop.
In addition, the brand’s gigantic selection of personalization features allows each Jeep Wrangler driver to make their ride uniquely their own.
Also consider: Jeep Grand Cherokee
How Can I Get the Best Car Insurance Rate?
Low insurance rates aren’t always about finding the cheapest car to insure. What other ways can you get the best car insurance premiums? You can take a variety of different steps to keep your car insurance costs low, no matter what you drive. Here are some to consider:
- Monitor Your Credit Score: Right or wrong, car insurance companies tend to charge drivers with higher credit scores less because they assume people who are responsible with their credit are also responsible drivers. So, improving your credit rating may lower your car insurance cost.
- Keep a Safe Driving Record: Staying safe on the road is perhaps the best way to keep your auto insurance premiums low. When you avoid accidents, you avoid filing claims. Similarly, avoiding traffic violations keeps your driving record clean and your rates reasonable.
- Take Advantage of Discounts: Take advantage of promotions and special offers that can get you a deal on your rates — notably multi-car discounts.
- Shop Around: The auto insurance industry is highly competitive, so competitive that many insurance companies will offer discounts to match or beat their competitors’ quotes. It never hurts to play one company off another to get the best deal.
- Take a Defensive Driving Course: Certified participation in a defensive driving course shows insurance companies you’re serious about driving safely, resulting in a potential reduction in premium costs.
Explore Insurance Quotes Quickly and Easily
When looking for the cheapest SUV to insure, don’t just go with the first auto insurance company to find. Instead, explore SUV insurance and find the most affordable provider in your region with Compare.com’s auto insurance quote comparison tool. Our tool can help you shop for the cheapest car insurance in your area, helping you find the insurance coverage you’re looking for before you drive your new ride home.
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