Most and least expensive cars to insure for 2016
Online insurance marketplace Insure.com released its rankings of the most and least expensive cars to insure for 2016.
The Honda Odyssey LX a took the top spot on Insure.com’s list of the least expensive vehicles to insure with an average annual premium of $1,113.
The Odyssey has been on Insure.com’s cheapest vehicles to insure list for years and was a runner-up in 2010 and 2014. This is the first time it has been named the cheapest vehicle to insure.
Jeep had four vehicles among the 10 cheapest to insure, the most of any carmaker.
Penny Gusner, Insure.com’s consumer analyst, was not surprised that a Honda minivan this year offered cheaper insurance than the Jeep Wrangler, which has offered low insurance rates for years. She points out that the Odyssey received a five-star safety rating from the National Highway Traffic Safety Administration and is fairly inexpensive to repair.
“Family vehicles, like the Honda Odyssey, are typically cheaper to insure due to the drivers being responsible people, usually parents of little ones, who drive the car,’’ said Gusner.
See the cars, listed from least to most expensive to insure:
[bdc-gallery id=”1428342″]
The 2016 Dodge GT Viper topped Insure.com’s list of the most expensive cars with an average annual insurance rate of $4,408. But while the Viper may be the most expensive car to insure, it was the only vehicle on the list with an MSRP below $100,000.
The other nine vehicles include three Mercedes-Benzes, two Porsches, a BMW and an Audi.
Gusner says the difference in insurance premium can be the “intent of the driver.’’ For example, the Viper has a 645-horsepower, V10 engine that can accelerate from zero to 60 mph in just three seconds, which probably attracts some adrenaline junkies. But other drivers might be drawn to the more expensive Mercedes-Benz selection for different reasons.
“The Viper is a car you buy because you love to drive fast,’’ said Gusner. “The [Mercedes-Benz SL65 AMG] likely skews toward those seeking luxury – not speed. That’s reflected in those rates.’’
Insure.com examined insurance rates for 2,300 models and calculated annual insurance averages by comparing data from six major insurance providers – Allstate, Farmers, Geico, Nationwide, Progressive and State Farm. The company looked at insurance rates available in 10 zip codes per state.
Averages are based on full coverage for a single, 40-year-old male who travels 12 miles to work every day. It is assumed the driver has both a clean driving record and a good credit rating.
To comment, please create a screen name in your profile
To comment, please verify your email address
Conversation
This discussion has ended. Please join elsewhere on Boston.com