What Are the Cheapest SUVs to Insure?
Last Updated on September 28, 2023
Want to buy an SUV without paying high insurance premiums?
Some SUVs double your insurance premiums, while others are surprisingly affordable to insure. Keep reading to discover the cheapest SUVs to insure in 2022.
Top 10 Cheapest SUVs to Insure in 2022
Some SUVs have consistently low auto insurance premiums across the United States with multiple providers.
Typically, the cheapest SUVs to insure are smaller, have lower MSRPs, have lower repair costs, and earn strong safety ratings in accidents. That’s why the Honda CR-V, Mazda CX-5, Honda Pilot, and Ford Escape consistently appear on the list of cheapest SUVs to insure year after year.
Here are the top 10 cheapest SUVs to insure in the United States in 2022:
- Honda CR-V: $1,996 per year
- Honda HR-V: $2,045 per year
- Mazda CX-5: $2,104 per year
- Ford Escape: $2,111 per year
- Honda Pilot: $2,134 per year
- Chevrolet Traverse: $2,241 per year
- Toyota RAV4: $2,330 per year
- Chevrolet Equinox: $2,532 per year
- Subaru Outback: $2,631 per year
- Subaru Forester: $2,650 per year
These estimates are an average for drivers across the United States. We requested multiple quotes for multiple model drivers in all 50 states, then averaged this data together to compile the quotes listed above. Some states have notoriously expensive car insurance premiums and will pay double the average above, while others pay less than half.
Factors that Impact the Cost of SUV Insurance
Some SUVs regularly appear at the top of the list. Some have high safety ratings, while others are small SUVs that always tend to be safer to insure than large SUVs.
Here are some of the factors that raise or lower the cost of SUV insurance:
Size: The SUVs listed above all tend to be some of the smallest SUVs on the market. They’re still large vehicles relative to other cars, but they’re small SUVs. Smaller SUVs cause less damage to other people and cars in accidents. They also tend to have lower MSRPs. All of these size-related factors lower the risk for insurers, which means they can charge lower rates.
MSRP: The manufacturers’ suggested retail price (MSRP) affects the price of auto insurance. You’ll pay more to insure a $50,000 SUV than a $25,000 SUV. If your SUV is stolen or involved in a total loss insurance claim, then your insurer needs to reimburse you for the value of the SUV. The higher the MSRP, the more the insurer needs to pay.
Accident Performance: SUVs can cause significant damage to people and property in an accident. Even if an SUV has a strong safety rating, the SUV has a lot of force that needs to stop somewhere in an accident. Larger SUVs cost more to insure because they cause significantly more damage than smaller SUVs in an accident, which could lead to huge payouts and medical bills for your insurer.
Safety Ratings: Some SUVs have strong rollover ratings and good accident performance. They’ve been shown to protect the driver and passengers in numerous accidents. Insurers like to insure these SUVs because they’re less likely to face high personal injury payouts.
Repair & Parts Costs: The cheapest SUVs to insure tend to be domestic or common vehicles – like the Honda CR-V and Ford Escape. These vehicles are easy to repair and have common, easy-to-find parts. They’re popular, well-known SUVs. You don’t need to visit a specialized mechanic, nor do you need to ship expensive parts from overseas. The cheaper the SUV is to repair, the lower your insurance premiums will be.
Electrical Components & Other Unique Components: The Tesla Model Y is one of the most expensive SUVs to insure. The newly-released electric vehicle contains unique, expensive, and hard-to-find components (especially its battery) – all of which increase the costs of repairing the SUV after an accident. The Model Y also has a higher MSRP than the average SUV. All of these things can dramatically increase the cost of SUV insurance.
State Insurance Laws & Regulations: State laws also impact the price of SUV insurance. That’s why a Honda CR-V driver in Idaho may pay just $800 per year for full coverage car insurance while an identical driver in Florida may pay over $2,500 per year. Some states have high limits and strict requirements, while other states have lower average insurance premiums. Region-specific factors – like ZIP codes, crime rates, and traffic density – can also impact the price you pay for SUV insurance.
Driver-Specific Factors: Two drivers might drive the same SUV in the same ZIP code but pay dramatically different rates for car insurance. One driver has multiple at-fault accidents and speeding tickets, while the other has a clean record with no citations or at-fault accidents. Insurers consider driver-specific factors when calculating insurance premiums.
Top 10 Most Expensive SUVs to Insure in 2022
Some SUVs are more expensive to insure than others. All of the following SUVs routinely appear near the top of lists of the most expensive SUVs to insure:
- Mercedes-Benz G Class: $6,403 per year
- Land Rover Range Rover: $6,102 per year
- Tesla Model X: $5,411 per year
- Tesla Model Y: $4,449 per year
- Porsche Cayenne: $4,430 per year
- BMW X6: $4,298 per year
- Cadillac Escalade: $3,603 per year
- Lincoln Navigator: $3,548 per year
- Volvo XC90: $3,540 per year
- Toyota 4Runner: $3,001 per year
Best Insurance Companies for SUV Drivers
Some insurance companies welcome SUV drivers with lower rates, strong discounts, and other perks. Other insurance companies prefer to insure sedans and smaller cars.
Here are some of the best insurance companies for SUV drivers, along with their average annual cost of SUV insurance:
USAA: $1,296 per year
GEICO: $1,349 per year
State Farm: $1,402 per year
Progressive: $1,415 per year
Allstate: $1,462 per year
Farmers: $1,598 per year
How to Save Money on SUV Insurance
You can save a lot of money on SUV insurance by practicing certain tips and strategies. Some of the best ways to save money on SUV insurance include:
- Take advantage of multi-vehicle discounts by insuring multiple vehicles with the same company
- Use paid-in-full discounts or paperless billing discounts to save 5% to 10%
- Bundle your SUV insurance with home insurance to save 20% per year
- Shop around with new car insurance providers every 6 to 12 months to verify you’re paying a competitive price
- Install a driver tracking tool inside your SUV to share driving data with your insurer in exchange for a discount
- Consider the price of insurance before you buy a new SUV; many drivers are excited to get a deal on a new SUV, only to be shocked when their insurance premiums double or triple
Final Word – Cheapest SUVs to Insure
SUVs tend to be more expensive to insure than other vehicles. However, there are plenty of SUVs with cheap insurance premiums.
By shopping around, choosing the right vehicle, and picking an insurer with low SUV insurance premiums, you can save thousands per year on SUV car insurance.
Compare quotes online today to find the cheapest SUV insurance for your unique needs.