If you’re hoping to save money on your auto insurance, then one of the most important factors that you should be considering is the type of vehicle that you’re driving, as this is one of the key factors that decides how much your rates will be.
Overall, the rule of thumb is that if you want the very cheapest auto insurance, then a four door family-friendly vehicle will bring the best results. For example, the popular Town & Country by Chrysler is a vehicle that is considered to be both sensible and practical, as well as being relatively inexpensive to insure.
That said, if you insist on driving a luxury vehicle, then you will need to be willing to pay a heftier price in terms of insurance premiums. According to Quadrant Information Services, the national average for the 12-cylander Mercedes SL65 AMG – one of the most costly vehicles to insure – is an annual $3,543.81. Typically speaking, European brands such as Mercedes, Aston Martin, Porsche, and BMW have the highest insurance rates connected to their coverage.
Among the primary reasons for these higher premiums is the cost of repairs or replacement should the vehicle be stolen or damaged in a crash. The natural average annual insurance rate for a BMW 750i that is well stocked is $3,280.70.
Equally, according to Quadrant’s data, non-luxury SUVs, minivans, and sedans from the United States and Japan represent the top 10 vehicles that have the lowest average insurance rates. The top four are all minivans.
For example, the Town & Country LX with six cylinders and four doors has a national average annual insurance cost of $1,091.80. Similarly, the Toyota Sienna, which has four cylinders and five doors, has an average national annual insurance rate of $1,100.66.