When you first learned to drive, you may have envisioned your future self driving an expensive sports car. Instead, many families find that a minivan suits their needs much better than any sports car could. Don’t be disappointed! Drivers of minivans pay less money for auto insurance.
Every year, Insure.com releases a ranking of vehicles. The vehicles are ranked based on how much it would cost for a driver of this type of car to insure it. Consumers can use the list to get a good idea about how much car insurance will cost for drivers of different kinds of vehicles.
This year, Insure.com looked at more than 900 vehicles. All of them came from the model year 2012. Insure.com relied on a company called Quadrant Information Services to collect the average premium rates for six different auto insurance carriers who were located in ten different zip codes per state. They also focused on what the premium rate would be for a driver who was forty years old, male, and single. This hypothetical driver was making a commute of 12 miles for work.
You can read the complete list that was compiled by Insure.com on their website. They selected the twenty vehicles that were the least expensive to insure, and the twenty vehicles that were the most expensive to insure. The vehicle you are driving could be somewhere on that list!
The results showed that you can save some money on your car insurance if you drive a minivan. The two vehicles that topped the list of the least expensive cars to insure were both minivans that were made by Toyota.
The national average auto insurance rate for a Toyota Sienna LE was $1,111, making it the least expensive type of vehicle to insure. The second least expensive vehicle to insure was also made by Toyota. The national average insurance rate for a Toyota Sienna was $1,114. Number three on the list was the Jeep Patriot Sport, which had an national average rate of $1,116. Number four was also a Jeep, the Jeep Compass Sport. It cost an average of $1,118 to insure.
Compare those rates with what drivers of sports cars are charged for auto insurance. The most expensive 2012 model vehicle to insure was the Audi R8 Spyder Quattro Convertible. The national average rate charged for auto insurance coverage for that car was $3,384. The second most expensive vehicle to insure was the Mercedes CL600 Coupe, at a rate of $3,307.
This was followed by the Mercedes S600, which cost an average of $2,903 to insure. Next was the Audi R8 4.2 Quattro Coupe, (at a rate of $2,903). The Porsche Panamera Turbo was the fifth most expensive vehicle to insure, costing drivers a national average rate of $2,738.
Image by Michael Gil on Flickr