When shopping for a new car, you first have to decide whether you want to buy new or used. And because cars have steadily been increasing in quality over the last decade or so, buying a car that’s 10 years old isn’t a huge risk anymore. The next step is insurance. What’s cheap and what’s expensive to insure?
Insurance resource company Insure.com recently released a list of cars from 2006 to 2016 that it found to be the least and most expensive to insure. It compiled this list by comparing rates through using an identical driver profile for all the cars “at six major insurance carriers in multiple ZIP codes in each state and the District of Columbia.”
The company pointed out that, “used vehicle sales at dealerships have increased for seven years straight, with the majority (57%) of used models sold being six to 10 years old, according to the National Independent Auto Dealers Association.” Hence this range of model years studied.
Below, you can see their findings and the average annual nationwide rates for full coverage.
- 2006 Honda Odyssey LX - $922
- 2006 Chrysler Town & Country- $923
- 2006 Dodge Caravan SE- $925
- 2007 Honda Odyssey LX- $936
- 2007 Dodge Caravan SE- $937
- 2007 Chrysler Town & Country- $944
- 2008 Honda Odyssey LX - $952
- 2006 Ford Escape XLS (4WD) - $956
- 2006 Jeep Wrangler SE - $957
- 2006 Ford Escape XLS (2WD) - $958
- 2015 Mercedes SL63 AMG (convertible/2-Door) - $2,925
- 2015 Jaguar XKR-S - $2,927
- 2014 Jaguar XKR-S - $2,933
- 2015 Mercedes S65 AMG (sedan/4-Door) - $2,954
- 2014 Mercedes SL65 AMG (convertible/2-Door) - $2,969
- 2015 Nissan GT-R Black Edition - $2,975
- 2012 Mercedes S65 AMG - $2,984
- 2015 Nissan GT-R Nismo - $3,027
- 2015 Mercedes SL65 (convertible/2-Door) - $3,035
- 2013 Mercedes S65 AMG - $3,070
You can see the full study here.
So, there you have it! If you want a low insurance rate, start looking for a minivan from the mid-2000s. And if you’re thinking about a Nissan GT-R Nismo, get ready for a high rate. But I’m sure you already knew that was coming.