Insurance Agents Agree On Least Expensive 2013 Cars to Insure

Several price comparison websites recently compared the cost to insure a variety of 2013 model year cars, and found larger crossovers cost less to insure than small luxury vehicles. 

The list used predetermined rates from some of the country’s largest insurance companies, like AllState, Geico, and State Farm to compare insurance for 750 newly made cars.  The agents agreed that the Ford Edge SE provides the lowest insurance rates on 2013 models, while other SUVs and larger crossover vehicles also ranked high on the list.
The study was conducted using a 40 year old male with good credit as a baseline driver.  The hypothetical insurance buyer also had a clean driving record, and had paid a $500 deductible for collision and comprehensive coverage.  With this information, the study calculated an average $1,128 car insurance premium for the Ford Edge SE.  On the other hand, it was determined the Mercedes-Benz CL600 had an average annual premium of $3,357 using the same criteria as the Ford.
The cost difference is in large part due to the perceived brand value of the two vehicles.  European made cars such as Mercedes have much higher brand value than domestic vehicles like the SE.  Repairing these vehicles costs more money than non-luxury domestic vehicles.  Imported cars are also more likely to be stolen, and are generally driven at faster speeds than domestic vehicles – increasing the likelihood of an accident.
Car insurance is a legal requirement, but driving the right kind of car can reduce how much that requirement will ultimately cost.