The very first thing you should do after buying or leasing a vehicle is to get it insured. This is required by law. Car insurance helps cover the vehicle owner financially in case of an accident, both for damage to the vehicle and medical needs of any individuals involved. Have you ever considered the cost to insure different vehicles? This can vary greatly depending on a lot of different factors.
Your driving history and experience are considered, as is your age and sometimes factors like education are even considered for certain discounts and lower rates. New vehicles generally cost more to insure than older vehicles. Insurance rates can also depend on the type of the vehicle, model, the model year, how much the vehicle costs, size, power and speed of the vehicle.
Here’s a Look at the Cost to Insure Different Vehicles
Sedans and Compact Cars
Sedans and compact cars are the cheapest vehicles to insure. The compact size of cars such as Suzuki Forenza, Chevy Impala and Honda Accord makes them easy to maneuver, offer excellent safety and very good fuel economy.
That’s why sedans and compact cars are popular with insurers. On average, it costs $1,358 annually or $113.25 monthly to insure compact cars, $1,386 annually or $115.53 monthly to insure full-size sedans and $1,429 annually or $119.09 monthly to insure mid-size sedans.*