When you’re looking at purchasing a car, you don’t just have to think about the number on the car’s price tag. You also have to consider how much it will cost to keep that gas tank full—and how much car insurance will cost you annually. Before you climb on the computer and start getting a whole lot of online insurance quotes for that car you want, take a minute to consider that it may not be the cheapest to insure.
If you’re a parent and are mourning having to switch from your cute compact or sporty car to a boxy minivan, consider this: minivans are a whole lot cheaper to insure. According to Insure.com, six of the top ten 2011 vehicles with the least expensive insurance rates are minivans. In fact, the top spot was taken by a minivan—the Chrysler Town & Country LX, with an average national annual premium of $1,092. The next three spots? Also minivans: the Toyota Sienna 4-cylinder (average premium of $1,101), Toyota Sienna LE (average premium of $1,108), and the Honda Odyssey LX (average premium of $1,115).
The rest of the spots on the top-ten list were SUVs, so the lesson seems to be that if you’re going to purchase a 2011 vehicle, go with a minivan or SUV to get the cheapest insurance rates.
But keep this in mind while you’re getting insurance quotes: It’s not all about the car you drive. There are many other factors that contribute to the insurance rates you receive, including where you live, your age, your driving history, and even your credit report. But it is true that driving the right car is the easiest element of all of these to control—so be sure that you make an informed decision when you buy your next car.