Happy family choosing a new car in a showroom

What are the Cheapest Cars to Insure?

Sedans are the “go-to” vehicle for many Gen Z, Millennial and Gen X1 drivers due to their affordable purchase price and savings at the gas pump. Cars and sedans continue to be more fuel efficient than SUVs and are considered easier to drive since they aren’t as top-heavy. When maneuvering around sharp street corners cars tend to stick to the ground better and it’s much easier to find and fit a smaller vehicle into a parking spot than a truck or SUV. Cars also feature closed trunks which offers more safety in terms of both visibility and security when storing your valuables. These attributes make car ownership more desirable to those purchasing a vehicle for the first time.

“An important aspect of researching the ideal vehicle is to consider the total cost of ownership, including insurance,” said Chong Gao, Director of Product Management R&D for Mercury Insurance. “For example, some vehicles have lower repair costs, which means they might also cost less to insure. Mercury has put together this list to help savvy vehicle shoppers know where savings can be found.”

Photo collage of cheapest cars to insure

Mercury’s research and development team examined 2020 to 2021 model year (MY) coupes, convertibles and sedans that are available at car dealerships today to compile this list2. Here is the top-ten list for new coupes, convertibles and sedans, beginning with the most affordable make and model to insure.

  1. Chevrolet Spark (tied for first)
  2. Hyundai Elantra
  3. Toyota Prius
  4. Volvo S90
  5. Mini Cooper
  6. VW Golf
  7. Kia Rio
  8. Mitsubishi Mirage
  9. Honda Accord
  10. Nissan Versa

Mercury’s research and development team also examined 2016 to 2019 model year (MY) coupes, convertibles and sedans to compile this list3. Here is the top-ten list for used coupes, convertibles and sedans, beginning with the cheapest make and model to insure.

  1. 2016-19 Chevrolet Spark (tied for first)
  2. 2016-2019 Chevrolet Sonic (tied for first)
  3. 2016-19 Fiat 500
  4. 2017-19 Fiat 124
  5. 2016-17 Chrysler 200
  6.  2016-17 Buick Verano
  7. 2016-18 Honda Fit
  8. 2016-18 Hyundai Elantra
  9. 2016-17 Hyundai Veloster
  10. 2016-17 VW Golf

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Sales of sports cars are also seeing growth among young drivers. While sports cars are typically some of the most expensive vehicles to insure due to higher horsepower, costlier repairs, and other factors, not all sports cars are created equal in the eyes of insurance.

“Sports car enthusiasts spend ample amounts of time looking for the perfect vehicle,” said  Gao. “Insurance costs are a vital part of that research, so we scanned the industry to put together a list of the most affordable sports cars to insure.”

Mercury’s research and development team examined 2021 model year (MY) sports cars – coupes and convertibles – that are available at car dealerships today to compile this list4. Here is the top-ten list for new sports cars, beginning with the most affordable make and model to insure.

  1. Hyundai Veloster
  2. Chevrolet Camaro
  3. Ford Mustang

  4. Volkswagen GTI
  5. Mazda MX5 Miata
  6. Mercedes E450
  7. BMW Z4
  8. BMW 230i
  9. Mercedes AMG C43
  10. Porsche Boxter

Mercury offers affordable car insurance without sacrificing quality support and service. Talk with an agent today to help you find cheap car insurance.


1 https://www.thedrive.com/news/28192/more-millennials-want-sedans-but-older-generations-cant-stop-buying-suvs-study

2 Mercury Insurance developed the list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI and UMPD) for a hypothetical driver with average factors for each rating element.

Mercury Insurance developed the list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI and UMPD) for a hypothetical driver with average factors for each rating element.

4 Mercury Insurance developed the list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI and UMPD) for a hypothetical driver with average factors for each rating element.