Cheapest Cars to Insure: What Insurer Loss Data Shows

The cheapest cars to insure are the ones insurers pay out the least on. Premiums are built from that claims experience, so the most useful evidence is loss data rather than a list of quotes. This guide uses the numbers insurers themselves report to the Highway Loss Data Institute (HLDI), the nonprofit affiliated with IIHS that gathers and publishes insurers’ claims data. It covers which vehicle classes cost the least to cover, which models thieves avoid and target, and what to do about your rate once you’ve chosen the car.

This article is for educational purposes only and is not personalized insurance advice. Your premium depends on your driving record, location, age, coverage choices and the carrier. Compare quotes before you buy a policy.

A note on what changed. Earlier versions of this page printed “approximate yearly rates” by vehicle type. We couldn’t tie those figures to a primary source, so we removed them. Every number below comes from HLDI’s published data.

Which Cars Are the Cheapest to Insure?

HLDI measures overall losses: the average amount insurers paid per vehicle insured for a year, combining how often claims are filed (frequency) with how big they are (severity). It isn’t your premium. It is the cost base premiums are priced from, and it’s the cleanest like-for-like comparison of vehicles that exists.

The pattern is consistent across coverages. In HLDI’s words, crash damage, injury and even theft claims are “relatively rare for family-oriented station wagons and minivans.” For 2022–24 models:

• Collision losses (damage to your own car) averaged $604 per insured vehicle year and tend to rise with vehicle size. Low claim frequency kept losses low for pickups and vans, while high claim severity pushed sports cars and luxury cars above average. Collision and property-damage-liability claim frequencies were lower for station wagons, minivans and vans than for other vehicle types (IIHS-HLDI).
• Comprehensive losses (theft, glass, weather, animals, vandalism) averaged $233. Station wagons and minivans came in below average at every size (HLDI Loss facts, December 2025).
• Large two-door cars — a class made up of Dodge Challenger variants — had high losses under every coverage.

Two things stand out. First, size and price drive losses up: comprehensive losses were highest for the largest vehicle in almost every class, and very large luxury cars cost insurers more than five times as much as mini station wagons. Second, pickups split in two: small pickups sit near the bottom at $180, while very large pickups reach $378, with theft accounting for $162 of that.

The Least- and Most-Stolen Models

Theft is the part of a comprehensive premium that swings most between models. HLDI’s latest whole-vehicle theft report covers 2022–24 models. Across all passenger vehicles, insurers saw 0.45 whole-vehicle theft claims per 1,000 insured vehicle years, with an average payout of $53,217 per stolen vehicle (HLDI report WT-24, May 2025). By vehicle type:

Source: HLDI, Insurance Report WT-24, Table 1 (after all-variable standardization).

Models thieves avoid

Every vehicle on HLDI’s list of the 20 least-stolen 2022–24 series had a whole-vehicle theft claim frequency below 15% of the all-vehicle average. Eight are electric and four more are hybrids or plug-in hybrids (HLDI WT-24). HLDI’s explanation: EVs are likely to be garaged or parked near buildings so they can charge, which makes them less attractive to thieves (IIHS, August 7, 2025). The list includes:

• Tesla Model 3 (4WD) — the lowest on the list, at 1% of the average theft claim frequency
• Tesla Model Y (4WD) — 2%
• Toyota RAV4 Prime plug-in hybrid — 5%
• Volvo XC90 and XC40 (4WD) — 6% and 7%
• Ford Mustang Mach-E and Volkswagen ID.4 — 8% and 9%
• Subaru Crosstrek with EyeSight (2024) — 9%
• Lexus NX 350 (4WD) — 9%
• Ford Explorer — 10%
• Mini Cooper and Toyota Venza hybrid — 12%
• Hyundai Elantra hybrid — 13%

A low theft rate trims only the theft slice of a comprehensive premium. Several of these models are expensive to repair after a crash, which shows up in collision costs instead.

Models thieves target

Pickup trucks and expensive or high-horsepower models dominate the other end. Eight of the 20 most-stolen series are pickups. Relative to how many are on the road (HLDI WT-24; IIHS):

• Chevrolet Camaro ZL1 — about 39 times the average theft claim frequency
• Acura TLX (4WD) — about 21 times
• Chevrolet Camaro — about 13 times
• GMC Sierra 2500 crew cab (4WD) — about 10 times
• Ram 1500 crew cab (4WD) — about 5 times
• Honda CR-V hybrid (4WD) — about 3.4 times

That last one is worth flagging: the CR-V is a family crossover, but its 2023–24 hybrid 4WD version made HLDI’s high-theft list. Check the specific model and trim, not just the vehicle type. HLDI publishes model-level results for collision, property damage, comprehensive and injury coverages in its insurance losses by make and model tables.

The Five Vehicle Factors Insurers Price In

Before you ever request a quote, the vehicle locks in part of your premium. Insurers price coverage by model using five vehicle-level factors, independent of your driving record or location:

1. Purchase price. A lower sticker price means lower replacement and repair costs, which flows into lower comprehensive and collision premiums. HLDI’s class data shows the same thing: losses rise with size and price.
2. Performance profile. High-horsepower, sport-tuned vehicles are driven more aggressively on average and produce more severe claims. Large sports cars had the highest theft losses of any class in HLDI’s comprehensive data.
3. Who drives that model. Insurers track the average risk profile of each model’s drivers. HLDI notes that wagons and minivans appeal to less aggressive drivers, which is part of why their crash claims are rare.
4. Theft rate. Frequently stolen models carry higher comprehensive costs, as the lists above show.
5. Safety record and features. Strong crash-test results and crash-avoidance tech (automatic emergency braking, lane-keeping assist, forward-collision warning) reduce the frequency and severity of injury claims. Compare IIHS ratings when weighing models.

Trim level matters too

Higher trims add technology and bigger engines, and both raise rates. Sensors, cameras and heads-up displays are expensive to repair after even a minor collision, and a bigger engine signals higher performance potential. See Forbes on how expensive car parts affect premiums for more context.

Cars That Cost More to Insure

1. Large sports and muscle cars — the highest theft losses of any class, and high crash-claim severity. The Camaro ZL1 tops HLDI’s theft list.
2. Luxury vehicles — very large luxury cars had the highest comprehensive losses in HLDI’s data ($903 per insured vehicle year). Business Insider has documented how luxury cars can cost drivers far more in insurance than comparable non-luxury models.
3. Large and heavy-duty pickups — twice the average whole-vehicle theft claim frequency, and the highest average payout per theft.
4. Electric vehicles, with a caveat — EVs are among the least stolen, but they can be costly to repair. See what electric car insurance actually costs for why EV premiums often run higher.

How to Lower Your Rate Once You’ve Picked the Car

The vehicle sets your starting point. How you buy and manage coverage decides the rest:

1. Compare quotes from multiple carriers. Rates for the same driver and coverage can vary widely, so get at least three quotes at identical limits.
2. Bundle policies. Insuring your car and home or renters policy with one carrier often unlocks a multi-policy discount.
3. Ask about every discount. Good driver, good student, low mileage, safety features, paying in full, paperless billing and defensive-driving courses are common. Ask for the full list.
4. Reconsider collision and comprehensive on older cars. Liability is required by law; collision and comprehensive usually aren’t (unless you have a loan or lease). If the car’s value is low, the coverage may cost more than it would pay out.
5. Raise your deductible. A higher deductible lowers your premium. Make sure you could cover it from savings after a claim.
6. Consider usage-based insurance. If you drive little or smoothly, a telematics program may price you on how you actually drive.
7. Keep a clean driving record. Tickets, at-fault accidents and DUIs raise your premium for years.
8. Improve your credit. Most states let insurers use a credit-based insurance score; a few restrict or ban it.
9. Pay in full or use auto-pay. Monthly installment fees add up; paying the term upfront avoids them.
10. Adjust coverage on a car you aren’t driving. For a vehicle in long-term storage, some carriers let you drop to comprehensive-only. Ask about the effect of a coverage gap before you do it.

Before you switch carriers to chase a lower rate, read how to switch car insurance without a coverage gap.

Other Factors That Influence Your Rate

Your vehicle is only one input. Insurers also weigh:

• Driver profile — age, driving experience and driving history. A clean record keeps rates lower; violations and claims push them up.
• Location — urban areas with more theft and accidents carry higher base rates than rural ones.
• Credit — where state law allows it, a credit-based insurance score is a rating factor.
• Coverage level — more coverage and lower deductibles mean a higher premium.
• Annual mileage — more time on the road means more exposure to claims.

Bottom Line

Insurer loss data points the same way year after year. Family-oriented vehicles — station wagons, minivans, and small SUVs and pickups — cost insurers the least. Large luxury cars, muscle cars and heavy-duty pickups cost the most. Theft risk varies sharply by model, so check the specific model and trim in HLDI’s tables before you buy. Then compare at least three quotes; the same car can be priced very differently by different carriers.