The best and worst cars for the lowest insurance costs

     A recent study from Quadrant Information Services looked at which 2015 vehicles have the best bang for their buck in regards to insurance. The study investigated 20 of the most popular 2015 models by comparing their average annual cost to insure to each vehicle’s manufacturer’s suggested retail price (MSRP). One of the most interesting outcomes shows that sport utility vehicles and trucks account for eight out of the best nine values, and 11 of the worst values are sedans.

     There are a few different proposed variables that may account for this difference. One theory is that larger and heavier vehicles are less likely to be as damaged as a smaller car in an accident. Secondly, there is the idea that “buying personalities” come into play when comparing these two types of cars. Someone who drives a $30,000 SUV sedan is more likely to be older and more experienced, compared to a driver in their young twenties with an $18,000 sedan. Lastly, a car with a higher theft frequency is also more likely to be more expensive to insure. This was true of the Ford Focus, Chevrolet Cruze, and Toyota Corolla which are all ranked in the top worst values category.

Five Best Auto Insurance Deals:

Vehicle                        Avg. Annual Ins. Cost                        MSRP             Cost Ratio
1. Ford Explorer          $1,301                                    $34,345                3.8%
2. GMC Sierra             $1,272                                    $28,315                4.5%
3. Chevy Silverado     $1,269                                    $27,815                4.6%
4. Chevy Equinox       $1,265                                    $26,105                4.8%
5. Dodge Ram 1500    $1,302                                    $26,855                4.8%

Five Worst Auto Insurance Deals:

Vehicle                        Avg. Annual Ins. Cost                        MSRP             Cost Ratio

1. Ford Focus              $1,391                                    $18,045                7.7%

2. Toyota Corolla        $1,400                                    $18,665                7.5%
3. Hyundai Elantra      $1,384                                    $19,085                7.3%
4. Honda Civic            $1,368                                    $19,910                 6.9%
5. Chevrolet Cruze      $1,318                                    $19,695                 6.7%