Which Cars Have The Lowest And Highest Insurance Rates
In order to help you with reducing your monthly expenses I’ve made some research and have come up with a list of cars which have the highest and lowest insurance rates.
The list has been put together by Forbes.
When picking out a vehicle most of us think about the car’s reliability, comfort and offered options in terms of technology improvements. What most of us don’t think about is whether or not this choice will have a positive or negative affect on the long-run.
For example, insurance, on average, accounts for roughly 11% of total ownership costs over a five-year period. And depending on the model we choose to drive, we could end up paying a lot more.
“The choice car is a major cost-driver in terms of what you’re going to pay” for insurance, says Jeanne Salvatore, a spokesperson for the Insurance Information Institute.
Luxury cars in general come with
high insurance rates. Mercedes-Benz, Porsche, Lamborghini, Bentley are only some of the cars that will definitely empty your pockets when paying their staggering insurance bills.
Other important factors in determining the insurance rate are the size, the power of the vehicle, the location where the vehicle will be driven and the driver’s habits. Cars with lots of horse power will always have higher insurance premiums. The same will happen if you don’t maintain good credit and don’t obey traffic rules.
So, as I’ve promised here is the list (starting with least expensive and ending with most expensive):
1. Mazda Tribute – average national premium: $1,070.25
2. Honda Odyssey – average national premium: $1,095.26
3. Chrysler Town & Country – average national premium: $1,119.83
4. Dodge Grand Caravan – average national premium: $1,131.06
5. Toyota Sienna – average national premium: $1,133.97
6. Mercedes-Benz CL600 – average national premium: $2,754.80
8. Dodge Viper SRT-10 – average national premium: $2,851.89