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Here’s Which Used Cars Are The Cheapest And Costliest To Insure

By News Creatives Authors , in Business , at August 2, 2021

The used-car market is the hottest thing going these days, with prices having skyrocketed as a record number of buyers are being shut out of the new-vehicle arena due to inventory shortages caused by microprocessor delivery delays and other factors. Prices were up by an average 45.2 percent this past June over the same period a year earlier according to the Consumer Price Index. 

Some used cars have been reported to sell for more money than some new models that are in short supply and high demand. Even high-mileage used cars are selling for big bucks, with the average price of models with 100,000 miles on the odometer jumping by over 30 percent in the last year.

One way to cope with high used-car prices would be to sell your existing ride for a tidy sum and ride out the coming months using ride-sharing services or public transportation until supplies catch up and prices drop to a reasonable level. But if that’s not an option, with prices as high as they are you’ll want to make sure long-term ownership costs are reasonable regarding any used vehicle under your consideration, and that includes what you’ll be charged for auto insurance. A recent survey conducted by shows that nearly 53 percent of used-car buyers fail to check what they’ll pay for coverage before closing the deal.

Rates are largely charged based upon one’s personal profile, which includes a policyholder’s age, gender, martial status, address, and driving record, but they’re also dependent on which vehicle you own. As is the case with new cars, trucks, and SUVs, family minded models that are driven carefully and are inherently the least inexpensive to repair are the cheapest to cover. The most expensive to insure are luxury cars that cost a small fortune to fix, and muscular high-performance models that are most likely to be driven aggressively.

To help cash-strapped shoppers compare ownership costs, has issued lists of the cheapest and most expensive used vehicles to insure, as they do annually do for new models. To no surprise, the same metrics apply to the used market as with factory-fresh rides.

Thus, seven out of the 10 cheapest used cars to insure are all minivans, with average annual rates in the mid-to-low $900 range, while the most expensive models in this regard being posh, pricey, and performance-infused sports cars, with some braking the $5,000 barrier for yearly premiums. We’re featuring the two top-10 lists below, which are based on an average motorist with 100/300/50 liability coverage and a $500 deductible on collision and comprehensive coverage.

“Although used cars can be more affordable than newer models, it’s still important to factor insurance costs into your budget when deciding on which car to purchase,” advises Penny Gusner, senior consumer analyst for Insure.

Otherwise the same advice applies to keeping used car insurance rates low as it does with new-vehicle premiums. Namely, shop around annually to find the best rates given your personal profile, and more frequently to coincide with life-changing events (getting married or divorced, moving, adding or removing drivers, etc). Keep deductibles low to save some cash, and avoid add-on programs like roadside assistance, and be sure to take advantage of every discount to which you’re entitled.

10 Cheapest-to-Insure Used Cars

  1. 2006 Honda Odyssey LX: $922
  2. 2006 Chrysler Town & Country: $923
  3. 2006 Dodge Caravan SE: $925
  4. 2007 Honda Odyssey LX: $936
  5. 2007 Dodge Caravan SE: $937
  6. 2007 Chrysler Town & Country: $944
  7. 2008 Honda Odyssey LX: $944
  8. 2006 Ford Escape XLS: $956
  9. 2006 Jeep Wrangler SE: $957
  10. 2006 Ford Escape XLS: $958

10 Costliest-to-Insure Cars

  1. 2015 Porsche 918 Spyder: $5,239
  2. 2019 Maserati Quattroporte GTS GranSport: $5,102
  3. 2018 Maserati Quattroporte GTS GranSport: $4,778
  4. 2017 Maserati Quattroporte S: $4,723
  5. 2018 Maserati Gran Turismo MC Centennia: $4,623
  6. 2016 Maserati Quattroporte GTS: $4,549
  7. 2019 Maserati Ghibli S Q4 GranSport: $4,451
  8. 2015 Maserati Quattroporte GTS: $4,388
  9. 2017 Maserati Gran Turismo MC Centennia: $4,350
  10. 2016 Maserati Gran Turismo MC Centennia: $4,248

You can read the full report here.


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