Insure.com Reports Highest and Lowest Insurance Rates for Used Cars

Rhea-AI Summary

On July 29, 2021, Insure.com released a report detailing the insurance costs of used car models from 2006 to 2020. The report highlights the rising importance of considering insurance expenses amid record-high used car prices. Budget-conscious drivers can save on insurance by choosing models like the Honda Odyssey and Chrysler Town & Country, with annual rates between $922 and $958. In contrast, Maserati models like the 2015 Porsche 918 Spyder and other high-end brands have premiums ranging from $4,248 to $5,239. The report emphasizes that consumers should factor in insurance when purchasing used cars.

Positive

• Provides valuable insights for budget-conscious drivers on affordable used car insurance.
• Offers comprehensive tools and resources for used car insurance decision-making.

Negative

• Over 53% of used car buyers do not consider insurance costs, potentially leading to unexpected expenses.

FOSTER CITY, Calif., July 29, 2021 /PRNewswire/ -- Drivers buy used cars to save money, but if they purchase certain models, they may get sticker shock when they find out how much it costs to insure them. To help prevent consumers from financially driving off a cliff due to high insurance rates, Insure.com, a comprehensive resource for insurance information, releases a report listing the 2006 to 2020 car models that cost the most and least to insure.

The guide and tool come at a time when used car sales and prices are at record highs, so budgeting for the full cost of ownership may be more important than ever. Early results of an ongoing Insure survey show that nearly 53% of those who purchase used cars fail to consider the cost of insurance in their car-buying decision.

The new report, Buying and insuring a used car: Most and least expensive 2006 to 2020 models, finds that budget conscious drivers can choose used car models such as Honda, Chrysler, and Dodge to save on insurance, which have rates ranging from $922 to $958 per year.

The top five least-expensive used car models to insure in 2021:

• 2006 Honda Odyssey LX: $922
• 2006 Chrysler Town & Country: $923
• 2006 Dodge Caravan SE: $925
• 2007 Honda Odyssey LX: $936
• 2007 Dodge Caravan SE: $937

At the other end of the spectrum, Maserati holds nine of the top ten slots in the most-expensive used cars to insure—with rates ranging from $4,248 to $5,102, while Porsche tops the list with an average annual premium of $5,239.

The top five most expensive used car models to insure in 2021:

• 2015 Porsche 918 Spyder: $5,239
• 2019 Maserati Quattroporte GTS GranSpor: $5,102
• 2018 Maserati Quattroporte GTS Granspor: $4,778
• 2017 Maserati Quattroporte S: $4,723
• 2018 Maserati Gran Turismo MC Centennia: $4,623

All cars were evaluated based on 100/300/50 coverage with a $500 deductible.

The new Insure guide offers comprehensive information on how to purchase a used car, including strategies for researching cars, making a decision, getting an inspection, and negotiating with dealerships.

"Although used cars can be more affordable than newer models, it's still important to factor insurance costs into your budget when deciding on which car to purchase," advises Penny Gusner, senior consumer analyst for Insure. "Our interactive used car insurance tool can help drivers view the rates they may pay on different car models and we explain the car insurance rate factors that can impact premiums."

Gusner  is available to comment on how drivers can make the best used car choice by considering insurance costs when making a purchase decision and taking advantage of an auto insurance advisor tool.

About Insure.com
Insure is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leader in providing performance marketplace technologies and services to the financial services and home services industries. QuinStreet is a pioneer in delivering online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that meet their needs. Insure is a member of QuinStreet's expert research and publishing division.

For more than 35 years, Insure has served as a comprehensive consumer resource for insurance information, offering expert advice, articles, news, and tools about car, home, health, and life insurance. Consumers have access to free car insurance quotes and guidance on finding the right insurance policy, saving money and solving claims problems.

Twitter: @InsureCom
Facebook: https://www.facebook.com/Insure

Media Contact
Jacqueline Leppla
Senior Director of Public Relations
QuinStreet, Inc
Direct +1 775 321 3608
Email: jleppla@quinstreet.com
LinkedIn

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SOURCE Insure.com

FAQ

What are the cheapest used cars to insure according to Insure.com?

The top five least expensive used cars to insure are the 2006 Honda Odyssey LX, 2006 Chrysler Town & Country, 2006 Dodge Caravan SE, 2007 Honda Odyssey LX, and 2007 Dodge Caravan SE, with rates ranging from $922 to $937.

Which used cars are the most expensive to insure?

The top five most expensive used cars to insure include the 2015 Porsche 918 Spyder, 2019 Maserati Quattroporte GTS GranSpor, 2018 Maserati Quattroporte GTS Granspor, 2017 Maserati Quattroporte S, and 2018 Maserati Gran Turismo MC Centennia, with premiums from $4,623 to $5,239.

When was the Insure.com report on used car insurance released?

The report detailing the insurance costs of used cars was released on July 29, 2021.

What does the new Insure guide offer for used car buyers?

The guide provides strategies for researching, inspecting, and negotiating used car purchases while emphasizing the importance of considering insurance costs.

How can used car buyers find out their potential insurance rates?

Insure.com offers an interactive tool to help drivers view the rates they may pay on different car models.