What factors contribute to the cost of my auto insurance? The 10 least expensive cars to insure for 2016.

2016-03-14
By: Denise Koslowsky

Insure.com has once again released their list of the 2016 model cars that are the LEAST EXPENSIVE to insure. While this blog will recap the cars that made the list this year, we wanted to give you some insight into the factors that go into determining the cost of insurance. If you have ever been curious as to why certain cars cost less to insure, read on.

 

What are the factors that go into determining the cost of your insurance?

 

Where you live
One of the biggest factor that goes into the cost of your insurance has nothing really to do with the car you are insuring. As it turns out where you live can greatly affect much your insurance will cost you. Why? Well there are a few reasons.

• Population Density. Simply put, the more cars there are on the road, the greater the likelihood of an accident.
• Crime Rate. If there are more cars stolen and/or vandalized where you live, then the rate to insure cars in your neighborhood will likely be higher.
• Weather. If you live in an area of the country (like NY) that has severe winters, ice storms and a high risk of flooding then it costs more to insure your vehicles. Bad weather increases the risks of car accidents.
• Frequency of Claims. If there are more claims where you live then there are in other areas of the country, then your rates will increase because the insurance companies have more pay outs to make to their customers.
• Road Conditions. If the roads in your area are not well maintained, then the driving conditions are not as good. This increases the likelihood of damage to your car not to mention the likelihood of accidents.

 

Your other personal information (outside of where you live)
Obviously your personal information will play a big role in determining your insurance rate. The specific factors that come into play include your age, gender, credit score and your driving record.

Specifics of the vehicle you are insuring
Which brings us to the 2016 list. The car you drive does make a difference in the size of your premium. How? See below for some of the factors that affect how much you will pay for your insurance.

• Safety Rating. The rating given to a vehicle by The National Highway Traffic & Safety Administration is a large contributing factor. The #1 car on the list below, the Honda Odyssey LX received a 5 star crash test rating.
• Cost of Repairs. The cost to repair your vehicle after it has been in an accident is also an important factor. If the parts are readily available that also works in your favor.
• Number of Claims. How many accidents has your make and model been in? If there is a frequency of claims attributed to a particular vehicle then the cost to insure will also increase.
• Typical Use. How do you typically drive your vehicle? If it is the family carpool mobile or is used strictly to drive around town then your rates will reflect that. The list below is filled with mainly family friendly vehicles!
• Damage that it could do to another vehicle. Vehicles that tend to ride higher such as SUVs may keep the passengers safe but they can do significant damage to vehicles that they hit.

 

The list
Start your search for a brand new 2016 vehicles here:
In the market for a brand new 2015 car? Start your search here:

Honda Odyssey LX
Honda CR-V-LX
Dodge Grand Caravan AVP 2WD
Jeep Patriot Sport 2WD
Jeep Wrangler Sport 4WD
Jeep Compass Sport 2WD
Ford Escape S 2WD
Buick Encore Sport Tour 2WD
Jeep Cherokee Sport Utility 2WD
Nissan Frontier King Cab Pickup

Once more with feeling

It is interesting to note that the first seven cars on the list above are all repeating their list appearance for 2016. So if you are in the market for a vehicle but don’t want to buy brand new, the 2015 version will also get you lower insurance rates. To see our blog containing last year’s list, click here.

We want to help you and your family find the best possible coverage at the best possible rate. If you are looking to save money on your auto insurance, this list is a good place to start.

Remember, if you purchase a new vehicle, contact Advocate right away so that we can make adjustments to your coverage!

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