When it comes to car insurance rates, the type of vehicle you drive plays a significant role. Insurance companies consider various factors before determining your premium, including the type of vehicle you own. 

Whether you drive a sedan, truck, sports car, or SUV, understanding your insurance options can help ensure that you and your ride are adequately protected on the road. 

Different vehicle types and their impact on car insurance rates

If you’re in the market for a new vehicle, it’s important to consider all the expenses that come with owning a car. One significant expense that drivers must consider is the cost of auto insurance.

Average insurance rates for different vehicle types vary. Hatchbacks and trucks have the lowest yearly and monthly insurance premiums at about $1,913 and $1,792 respectively, while wagons have the highest insurance costs with annual premiums of $2,920.

Sedans are the most common vehicle type, and their average annual insurance premium is $2,863. With an average annual premium of $2,105, SUV owners can expect slightly lower insurance rates than sedan owners. 

SUVs are now a popular alternative for sedans, as they have become more eco-friendly, comfortable, and safe.

Here are the average yearly and monthly costs for insuring popular vehicle types. 

Vehicle type Average cost per year Average cost per month
Hatchback $ 1,913 $ 159
Sedan $ 2,863 $ 239
SUV $ 2,105 $ 175
Truck $ 1,792 $ 149
Wagon $ 2,920 $ 243

While the cost of insurance is just one factor to consider when purchasing a vehicle, it’s an important financial consideration that should be taken into account when buying a new vehicle. 

SUV insurance rates: Exploring affordable insurance options for SUVs

Based on the data analysis by CompuQuote, Honda CR-V has the lowest insurance rate of $1,402 per year, making it a cost-effective choice for insurance.

On the other hand, the Ford Expedition has the highest insurance rate of $1,879 per year, suggesting that it may be pricier to insure. It’s important to consider  insurance rates when deciding on an SUV to make sure it fits your budget.

Make Model Average Annual Premium Average Monthly Premium
Ford Expedition $ 1,879 $ 157
Honda CR-V $ 1,402 $ 117
Hyundai Santa Fe $ 1,582 $ 132
Kia Seltos $ 1,440 $ 120
Kia Telluride $ 1,571 $ 131

Sedan insurance rates: The road to affordable premiums

Toyota Avalon has the highest average annual premium at $1,860, followed closely by the Hyundai Sonata at $1,848. On the other hand, the Hyundai Accent has the lowest average annual premium at $1,601, making it a more affordable option for insurance.

In terms of monthly premiums, the Toyota Avalon and Hyundai Sonata also have the highest rates at $155 and $154, respectively. Meanwhile, the Hyundai Accent and Honda Civic have the lowest monthly premiums at $133 and $136.

The table below shows some popular sedan models and their average annual and monthly premiums.

Make Model Average Annual Premium Average Monthly Premium
Honda Accord $ 1,657 $ 138
Honda Civic $ 1,627 $ 136
Hyundai Accent $ 1,601 $ 133
Hyundai Elantra $ 1,751 $ 146
Hyundai Sonata $ 1,848 $ 154
Kia K5 $ 1,755 $ 146
Toyota Avalon $ 1,860 $ 155
Toyota Camry $ 1,710 $ 143
Toyota Corolla Cross $ 1,706 $ 142

Insurance rates can vary depending on various factors such as your location, driving history, and coverage options. It’s always a good idea to shop around and compare quotes from different insurance companies to find the best rate for your sedan.

Truck insurance rates: The rate roadmap

Toyota Tacoma and Ford F-150 have the cheapest insurance rates, with average annual premiums of $1,552 and $1,650 respectively. 

Ford Maverick  and Ford F-150 Lightning have slightly higher premiums, at about $1,803 and $1,792 respectively. 

Below are the average annual and monthly insurance rates of different truck makes and models. 

Make & Model Average Annual Premium Average Monthly Premium
Dodge Ram 1500 $ 1,777 $ 148
Ford F-150 $ 1,650 $ 137
Ford F-150 Lightning $ 1,792 $ 149
Ford Maverick $ 1,803 $ 150
Toyota Tacoma $ 1,552 $ 129

 Minivan insurance rates: Understanding premiums

Kia Carnival tops the list with the highest average annual insurance premium of $2,038, followed closely by Toyota Sienna at $1,691. These two models seem to be the most expensive to insure among the other minivans.

The overall value, safety ratings, and expensive repair costs of these minivan models contribute to their high annual insurance premiums.

However, your specific rates may be higher or lower depending on your location, driving history, and the insurance company you choose.

Make Model Average Annual Premium Average Monthly Premium
Chrysler Pacifica $ 1,598 $ 133
Honda Odyssey $ 1,490 $ 124
Kia Carnival $ 2,038 $ 170
Toyota Sienna $ 1,691 $ 141

Coupe insurance rates: Insuring your dream ride

People who own Chevrolet Corvette Stingray pay high insurance rates, with an average annual premium of $2,454 or $204 per month. This sleek and stylish sports car is a dream for many, but it does come with higher insurance rates due to its value and performance capabilities.

The Dodge Challenger is another popular choice for Coupe enthusiasts, with an average annual premium of $2,468 or $206 per month. Its insurance premiums are the highest compared to our coupe models because of the vehicle value and high theft rate.

If you’re looking for a more affordable option, the Hyundai Veloster might be the way to go. With an average annual premium of $1,890 or $158 per month, this compact coupe offers a balance of style and affordability when it comes to insurance rates.

Make Model Average Annual Premium Average Monthly Premium
Hyundai Veloster $ 1,890 $ 158
Chevrolet Camaro $ 1,916 $ 160
Subaru BRZ $ 2,051 $ 171
Toyota GR $ 2,162 $ 180
Chevrolet Corvette Stingray $ 2,454 $ 204
Dodge Challenger $ 2,468 $ 206

Electric car insurance rates: Green wheels, lower bills

Hyundai Kona stands out as the most economical option, with an average annual premium of $1,507 ($126 monthly), due to its safety ratings and reasonable repair costs. The Chevrolet Bolt EV follows closely, with an average annual premium of $1,780 ($148 monthly), thanks to its affordability and cost-effective replacement parts. 

Luxury vehicles like the Porsche Taycan and Tesla Model S have higher insurance premiums due to their higher repair costs and specialized parts and services.

Make Model Average Annual Premium Average Monthly Premium
Tesla Model S $ 3,809 $ 317
Porsche Taycan $ 3,343 $ 279
Tesla Model 3 $ 2,454 $ 205
Tesla Model Y $ 2,377 $ 198
Audi E-tron $ 2,363 $ 197
Ford Mustang Mach-E $ 1,965 $ 164
Nissan Leaf $ 1,822 $ 152
Chevrolet Bolt EV $ 1,780 $ 148
Hyundai Kona $ 1,507 $ 126

Useful insights 

Importance of safety features

Some specific safety features that insurance companies highly value include airbags, anti-lock brakes (ABS), and collision warning systems. 

Airbags are designed to deploy in the event of a collision, providing an additional protection for the driver and passengers. 

ABS prevents the wheels from locking up during hard braking, improving control and reducing the risk of accidents. 

Collision warning systems use sensors to detect potential collisions and alert the driver, helping to prevent accidents or minimize their severity.

Effect of vehicle modifications

Modifications that can potentially increase insurance premiums include engine enhancements, aftermarket modifications, and alterations to the suspension or exhaust system. 

Engine enhancements such as turbocharging or supercharging can significantly increase the power and speed of a vehicle, increasing the risk of accidents. Aftermarket modifications like body kits or performance upgrades can also affect a vehicle’s handling and stability, potentially leading to higher premiums.

In a nutshell

The cost of insuring different types of vehicles can vary greatly depending on make, model, and other factors. Understanding the average insurance cost for a particular type of vehicle can help you make an informed decision when purchasing a new car or renewing your insurance policy.

It’s always a good idea to shop around and compare quotes from different insurers to make sure you’re getting the best possible coverage at an affordable rate. 

Whether you’re in the market for a hatchback, sedan, SUV, truck, or wagon, it’s important to consider all the costs involved in owning and maintaining a vehicle before making a final decision.

Frequently asked questions

Can I insure any type of vehicle with a standard car insurance policy?

While most standard car insurance policies cover personal vehicles, certain types of vehicles may require specialized coverage. These may include commercial vehicles, motorcycles, RVs, or off-road vehicles. It’s important to check with your insurance provider to determine the appropriate coverage for your specific vehicle type.

Will upgrading my vehicle’s safety features lower my insurance premiums?

Upgrading your vehicle’s safety features can potentially lead to lower insurance premiums. Insurance companies highly value safety features such as airbags, ABS, or collision warning systems as they reduce the risk of accidents and injuries. 

Are luxury cars always more expensive to insure than regular cars?

Luxury cars tend to have higher insurance rates due to their higher value and potentially higher repair costs. However, insurance rates are influenced by multiple factors, including the vehicle’s make, model, age, safety features, and the driver’s profile. 

Do electric vehicles generally have higher or lower insurance rates compared to gasoline-powered cars?

Electric vehicles (EVs) often have lower insurance rates compared to gasoline-powered cars. EVs are typically equipped with advanced safety features and their repairs and maintenance costs can be lower than those of traditional vehicles.  


CompuQuote commissioned Quadrant Information Services to field rates for full coverage car insurance with a limit of 100/300/100 for different vehicle types. Rates are based on the profile of a 40-year-old driving Honda Accord LX for a 12-mile daily commute, 10,000 annual miles with a good credit score and clean driving record. 

We analyzed 45,740,880 insurance quotes from 57 companies for 1,278 makes and models across different ZIP codes in the U.S. Rates mentioned are for comparison purposes only, and your rates may differ. 

About the Author: CompuQuotes Editorial
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