There are a lot of factors including make and model, driving record, where you live, and how much you drive that affect how much your car insurance costs.
The good news is that there are plenty of affordable options out there for those looking to save on their premiums. Here are some of the cheapest cars to insure in Canada:
- Mitsubishi Mirage
- Chevrolet Spark
- Toyota Corolla
- Mazda 3
- Hyundai Elantra
- Honda Civic
- Chevrolet Cruze
- Volkswagen Golf
- Toyota Camry
- Kia Forte
- Nissan Sentra
- Volkswagen Jetta
- Dodge Caravan
- Kia Sorrento
- Hyundai Tucson
These are just a few examples of models that tend to be relatively inexpensive to insure. Of course, rates will vary depending on the specific circumstances of the driver but these models are generally quite affordable.
Make sure to shop around and compare quotes from different insurers to make sure you’re getting the best deal possible. And remember, driving safely is always the best way to keep your rates down.
What factors determine the cheapest cars to insure?
There are a number of different factors that insurers take into account when determining rates. Some of the most important include:
1. The make and model of the vehicle. Some cars are simply more expensive to insure than others.
2. The driving record of the individual. Those with a clean record will usually pay less than those with accidents or tickets on their record.
3. Where you live. Rates can vary significantly depending on where you live and park your car. Urban areas tend to be more expensive than rural ones, for example.
4. Milage. The more time you spend on the road, the higher your risk of being in an accident. As such, those who drive less tend to pay less for their insurance.
5. Your insurance history. Those who have been insured for a longer period of time are often rewarded with lower rates.
6. The type of coverage you need. The level of coverage you require will affect your premium. Those who need more comprehensive coverage will usually pay more than those with basic coverage.
7. The deductible you choose. The higher the deductible, the lower your premium will be. However, you should only choose a deductible that you can afford to pay in the event of an accident.
8. Any discounts you qualify for. There are a number of different discounts that can help lower your car insurance costs. These include things like safe driver discounts, multi-policy discounts, and more.
9. Your payment history. Those who have a history of making late or missed payments will usually pay more for their insurance than those who have always been up to date on their payments.
10. The type of car you drive. Sports cars and other luxury vehicles tend to be more expensive to insure than economy models.
No matter what kind of car you drive, there are ways to save on your car insurance premium. Make sure to compare quotes from multiple insurers and look for any discounts you may qualify for before making a decision. And remember, the best way to keep your rates down is to drive safely and avoid accidents.