Minivans have become a popular choice for families, offering spacious interiors, versatility, and safety features. However, like any vehicle, minivans require insurance coverage to protect against unforeseen events and accidents on the road.

In this guide, we will look into the minivan insurance rates, discussing what you can expect when insuring your minivan and exploring strategies to save on insurance costs. From the various factors that affect insurance premiums to tips on securing discounts and choosing the right coverage options, we will provide you with the knowledge you need to navigate the realm of minivan insurance.

Key Takeaways:

  • Minivan insurance is cheaper than SUV insurance: $1,558 vs. $1,765 annually.
  • Minivans are safer, hence the lower cost.
  • 4WD minivans have a slightly higher premium: $1,688 vs. $1,539 for 2WD.
  • Factors like usage and age can affect rates.

 

Average minivan insurance rates

The average minivan insurance rate is $1,558 per year, with a maximum average rate of $2,187 and a minimum average rate of $1,402. These rates can vary depending on the make and model of the minivan, as well as other factors such as the driver’s age, location, and driving history.

Average minivan insurance rate Average maximum insurance rate Average minimum insurance rate
$1,558 $2,187 $1,402

Are minivans expensive to insure?

Minivans are generally not considered expensive to insure compared to other vehicle types. Insurance rates for minivans tend to be lower due to their reputation for safety, family-friendly features, and lower risk of accidents. Additionally, minivans are typically driven by cautious and responsible drivers, which further contributes to lower insurance premiums. However, insurance rates can still vary based on factors like your location, driving history, coverage options, and the specific make and model of your minivan.

Most expensive minivans to insure

The most expensive minivan to insure is the Kia Carnival SX Prestige, with an average annual premium of $2,187 or a monthly premium of $182. Other expensive minivans to insure include the Toyota Sienna Platinum, Chrysler Pacifica Pinnacle, and Dodge Ram 1500 ProMaster High. These minivans have higher insurance rates due to their higher market value, advanced features, and potential repair costs.

Average rates of most expensive minivans
Make Model Avg. Company Annual Premium Avg. Monthly Premium
Kia Carnival SX Prestige $ 2,187 $ 182
Toyota Sienna Platinum $ 1,827 $ 152
Chrysler Pacifica Pinnacle $ 1,662 $ 138
Dodge Ram 1500 ProMaster High $ 1,615 $ 135
Honda Odyssey Elite $ 1,562 $ 130
GMC Savana G3500 $ 1,547 $ 129
Ford Transit Connect Titanium $ 1,475 $ 123
Chrysler Voyager LX $ 1,413 $ 118
       
Ford Transit Connect XL $ 1,402 $ 117

Least expensive minivans to insure

On the other hand, the least expensive minivan to insure is the Ford Transit Connect XL, with an average annual premium of $1,402 or a monthly premium of $117. Other affordable minivans to insure include the Chrysler Voyager LX, GMC Savana G2500, and Honda Odyssey LX. These minivans offer lower insurance rates due to their lower market value and fewer advanced features.

Insurance rates of least expensive minivans
Make Model Avg. Company Annual Premium Avg. Monthly Premium
Ford Transit Connect XL $ 1,402 $ 117
Chrysler Voyager LX $ 1,413 $ 118
GMC Savana G2500 $ 1,432 $ 119
Honda Odyssey LX $ 1,446 $ 120
Chrysler Pacifica Touring-L $ 1,579 $ 132
Toyota Sienna LE $ 1,596 $ 133
Dodge Ram 1500 Promaster Low $ 1,613 $ 134
Toyota Sienna Platinum $ 1,827 $ 152
Kia Carnival LX $ 1,949 $ 162

⚡Pro Tip: Special considerations for vintage or modified minivans

If you own a vintage or modified minivan, there are some special considerations when it comes to insurance. For classic or vintage minivans, standard insurance policies might not provide adequate coverage. It’s important to explore insurance options specifically designed for classic vehicles, which can offer specialized coverage, agreed value coverage, and coverage for restoration efforts.

Minivan vs SUV insurance rates: Are minivans more expensive than SUV?

Comparing the average insurance rates for minivans and SUVs, minivans seem to be more affordable to insure. The average annual premium for a minivan is $1,558, while the average annual premium for an SUV is $1,765. This difference can be attributed to the fact that minivans are generally considered safer and less likely to be involved in accidents compared to SUVs.

Minivan insurance rate vs SUV insurance rate
Insurance rates Avg. SUV insurance rates Avg Minivan insurance rates
Avg. Annual Premium $ 1,765 $ 1,558
Avg. Monthly Premium $ 147 $ 130

2WD Vs 4WD minivan insurance rates:

When it comes to insurance rates, 2WD minivans are more affordable to insure compared to 4WD minivans. The average annual premium for a 2WD minivan is $1,539, while the average annual premium for a 4WD minivan is $1,688. This difference can be attributed to the fact that 4WD minivans have more complex systems and are more expensive to repair in case of an accident.

2WD vs 4WD Minivan insurance rates
Insurance rates 2WD minivan insurance rates 4WD minivan insurance rates
Avg. Annual Premium $ 1,539 $ 1,688
Avg. Monthly Premium $ 128 $ 141

Useful Insight about minivan insurance

Minivan insurance for families and business use

When it comes to minivan insurance, there are specific considerations for families and businesses. For families, insurance coverage should account for the needs of transporting passengers, especially children. It’s important to ensure adequate liability coverage to protect against potential accidents or injuries. Additionally, families involved in carpooling or ride-sharing should review their policy to ensure coverage extends to these activities.

On the other hand, businesses using minivans need to meet specific insurance requirements. Depending on the nature of the business, commercial auto insurance might be necessary to cover the minivan’s use for business purposes. This type of insurance typically offers higher liability limits and additional coverage options tailored to business needs.

Conclusion

Minivans are generally not expensive to insure compared to other vehicle types. Their reputation for safety, family-friendly features, and lower risk of accidents contribute to lower insurance premiums. Factors such as the make and model of the minivan, location, driving history, and coverage options can still influence insurance rates. It’s important to explore discounts and choose the right coverage options to potentially save on insurance costs.

Vintage or modified minivans may require specialized insurance coverage. When comparing minivans to SUVs, minivans tend to have more affordable insurance rates. Additionally, considerations for families and businesses using minivans require specific insurance coverage tailored to their needs. By understanding these aspects, you can make informed decisions and secure the appropriate insurance coverage for your minivan.

Methodology

CompuQuote commissioned 2022 data for Minivan insurance rates from Quadrant Data Services for all 50 states and Washington D.C. Rates are based on the following profile:

  • 40-year-old male driver
  • 12-mile daily commute and 10,000 annual miles
  • Good credit
  • Clean record.

Rates are based on coverage limits of:

  • $100,000 bodily injury per person
  • $300,000 bodily injury per accident
  • $50,000 property damage per accident
  • $500 comprehensive and collision deductible

CompuQuote analyzed rates for around 1278 vehicles from 57 companies for more than 45,740,880 million quotes. Rates sourced from Quadrant Data Services are for comparison purposes only; your rates may differ.

About the Author: CompuQuotes Editorial
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