The savvy consumer looks at the cost of car ownership, not only the cost of the car. A deal on wheels can be less so when you consider associated costs and in particular insurance premiums. Depending on where you live in Canada, insurance can add significantly to car ownership. All provinces require all vehicles to be insured at all times and in some regions, car insurance can average over three percent of a person’s income.
Insurers use a number of factors to calculate rates for each policy. One factor is the year, make and model of the car being insured. While factors can and do vary between companies, here’s a list of the cars with good historical performance as inexpensive to insure models.
The crossover class of vehicles – between car and SUV – is typically low accident. Recent additions to the Ford Escape include blind spot alerts and parking assistance, positive features when considering collision insurance costs.
A latter-day SUV, the Chevrolet Equinox enjoyed sales popularity with family drivers, a safety-friendly category populated with mature drivers who have low-risk ratings. Fewer incidents and affordable repairs often combine to give a car model a great rating by insurers.
The compact sedan from German maker Volkswagen has traditionally been both an affordable car and inexpensive to insure. Depending on options, the Jetta can be quite sporty for a car that’s known as an insurance bargain.
Dodge Grand Caravan
A pioneer in the SUV field, its popularity with the family demographic make it affordable for the same reasons as the Chevy Equinox. For the driver that needs lots of space for passengers and cargo, this is an insurance-friendly way to go.
Introduced in 2008, the Chevy Cruze has the sporty stylings of a Japanese sedan coupled with good safety ratings. Its popularity with consumers extends to insurability. Perhaps as mom and dad’s “other” car, the Cruze is safe, affordable and stylish.
The Corolla has been a top performer for so many years that not even the recalls from 2009 to 2011 made much of a dent in its reputation with insurers. Toyota has a history of getting it right that still carries weight with insurance companies, which rewards the owner with lower premiums.
As a manufacturer, Subaru is well-regarded for quality. The Forester was named Motor Trend’s 2014 SUV of the Year. The reputation, regard, and consistency make the Subaru Forester a top performer in the cheap insurance race.
Even from the same statistical data, different insurers provide different rates. Pinpoint your best options using the car insurance calendar on this page. Scanning through a list of insurance providers, the calculator returns the cheapest options based on your information. It’s an easy way to cover all the insurance factors to target your lowest rates.