Top 5 Best Car Insurance Deals

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Top 5 Best Car Insurance Deals

The vehicle you own plays a major part in deciding how much you pay for car insurance and you might be surprised to see which vehicles have the best car insurance deals.

A recent study conducted by Quadrant Information Services for insuranceQuotes.com took a look at 20 of the most popular vehicles and divided the average annual cost to insure each vehicle by its price. The insurance-to-cost ratio was used to determine which vehicles are relative bargains to insure and which ones have a high insurance burden.

SEE ALSO: You Can Save 25 Percent on Your Insurance by Bundling

The study’s findings might surprise you, especially considering the top 5 best car insurance deals aren’t your run-of-the-mill sedans. Helping attribute to the findings is the assumption that those purchasing a crossover, SUV or pickup truck is different from the typical driver of an $18,000 sedan. Insurance companies are more than likely to assume a crossover, SUV or pickup is being driven by an older, more experienced driver.

5. Dodge Ram 1500

dodge-ram-1500

With an MSRP of $26,855, the Dodge Ram 1500 lands in fifth place with an average annual insurance cost of $1,302. The American automaker’s pickup has an insurance-cost-ratio of 4.85 percent.


4. Chevrolet Equinox

chevrolet-equinox

Next on the list is the Chevrolet Equinox, with a price of $26,105 and an average annual insurance cost of $1,265. Its insurance-cost-ratio is pretty much the same as the Dodge Ram 1500 at 4.85 percent.


3. Chevrolet Silverado

chevrolet-silverado

Another pickup to land on the list is the Chevrolet Silverado, with pricing starting from $27,815. According to the study, the average annual insurance cost is $1,269 giving the Silverado an insurance-cost-ratio of 4.56 percent.


2. GMC Sierra

gmc-sierra

Are you seeing a trend yet? The GMC Sierra shouldn’t be a huge surprise considering it’s quite similar to the Chevrolet Silverado. Its MSRP is $28,315 while the average annual insurance cost is slightly less than the Silverado at $1,272. As a result, the GMC Sierra has an insurance-cost-ratio of 4.49 percent.


1. Ford Explorer

ford-explorer

The Ford Explorer tops the list of best car insurance deals, despite its price tag of $34,345. The average annual cost to insure the Ford Explorer is $1,301 giving it an insurance-cost-ratio of 3.79 percent.

Discuss this story on our Ford Forum

  • johnls39 .

    And majority of them are SUVs and trucks with the best insurance rates. Make me wonder if elevated height make drivers aware what is ahead of them to take precaution compared to a car.

  • Jeff T

    I see where you’re coming from but cars almost always have better handling and braking performance. It probably has to due with higher mileage drivers and people who drive in cities don’t own large vehicles.

  • It could also be theft rates. None of these cars are on the “most stolen” list, where we do see several of the “worst five” insurance deals (which based on the cost-to-insure ratio above, still aren’t that bad, with only a couple of percentage points separating the best from the worst).