We surveyed quotes from top insurers across the country and found that the cheapest SUV to insure is the Honda CR-V. It costs $2,346, on average, to insure this vehicle. That’s 21% cheaper than the overall average SUV insurance cost of $2,975. In general, we also found that the small, low-cost SUVs generally had the lowest car insurance rates.
- SUV Insurance Rate Comparison
- Best Insurance Companies for SUV Drivers
- Are SUVs More Expensive to Insure Than Other Vehicles?
SUV Insurance Rate Comparison
Ranking close behind the Honda CR-V, for SUVs with cheap insurance, are the Toyota RAV4 and the Chevrolet Equinox. The average policy cost across these three vehicles, according to our survey, is $2,460 per year—17% less than the average across all of the vehicles we considered.
|8||Jeep Grand Cherokee||$26,125||$3,347|
Small SUVs Are Less Expensive to Insure
Our study found that insurance costs for small SUVs were 17% lower than they were for standard-sized SUVs. The three SUVs with the highest car insurance premiums (the Jeep Grand Cherokee, Toyota 4Runner and Ford Explorer) are all standard-sized SUVs, according to the EPA’s size classifications.
Cheaper SUVs Have Lower Auto Insurance Rates
The SUVs with the lowest purchase cost also had the cheapest car insurance. Our survey found that insurance rates for the five cheapest SUVs were 16% lower than they were for the five most expensive vehicles.
|Vehicle||Value||Insurance Cost||Average Value||Average Insurance Cost|
|5 Cheapest||Ford Escape||$17,710||$2,834||$21,806||$2,712|
|Jeep Grand Cherokee||$26,125||$3,347|
|5 Most Expensive||Chevrolet Traverse||$28,009||$3,073||$31,315||$3,237|
The main reason cheap SUVs have lower auto insurance premiums, is because claims for comprehensive and collision insurance are less expensive. This type of insurance coverage pays for repairs and replacement for your vehicle, which are typically more expensive for costlier SUVs.
Best Insurance Companies for SUV Drivers
We found that GEICO and Progressive consistently provided the cheapest insurance rates for SUVs. Insurance quotes from these two companies were 39% cheaper than the average car insurance cost across all of the companies we surveyed. Furthermore, choosing GEICO over Allstate, the insurer with the highest auto insurance rates, could result in savings of $3,352 per year.
Our study found that shopping around to find the cheapest insurer to cover your SUV could save you an average of 40% on your car insurance premiums. Given that we found the average SUV insurer to offer rates of $2,984 per year, this adds up to an annual cost difference of $1,183 per year.
|Vehicle||Cheapest Insurer Cost||Difference from Average||Cheapest Insurance Company|
|Jeep Grand Cherokee||$1,843||-45%||GEICO|
Are SUVs More Expensive to Insure Than Other Vehicles?
The rule of thumb is that big vehicles, such as SUVs and trucks, are costly to insure. However, we found that small, crossover SUVs have insurance rates among the cheapest of any vehicle type—including compact cars. Larger SUVs, on the other hand, have some of the highest rates for auto coverage. While these vehicles may be safer for their passengers, their size poses an increased risk to other motorists. Because of this, the liability portion of the car insurance premiums for standard-size SUVs is typically more expensive.
We gathered quotes from the four largest insurers—State Farm, Progressive, GEICO and Allstate—for a 30-year-old male with a clean driving record living in each of the four largest metropolitan areas in the U.S.: New York, Los Angeles, Chicago and Dallas.
The insurance prices represent the total cost for full-coverage policies with liability coverage limits above the state minimums. Average car values were obtained from CarGurus and car types are based on the EPA’s vehicle size designations.