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Popular cars: Most expensive to insure
Even among everyday cars and trucks, some still cost a lot more to insure than others.
NEW YORK (CNNMoney.com) - The Ford F-series pick-up, which consistently ranks as America's most popular vehicle, is also the most expensive to insure among the top 20, according to a report released today by the insurance website Insure.com. The Chrysler Town & Country minivan is the least expensive to insure of the 20 most popular vehicles, while its corporate twin, the Dodge Caravan, is the third least expensive. The Chevrolet Cobalt small car is the second least expensive to insure, according to the report. Any individual's actual car insurance premiums can vary greatly depending on factors such as their age, driving record and where they live. But the vehicle itself is a major factor that insurance companies consider to determine premiums. Insurance is the third largest cost of owning a new car, after depreciation and fuel, according to Insure.com. Insurance premium costs, now averaging almost $900 per year, have risen 27 percent since 2000, according to the report. Insure.com looked only at the 20 top-selling vehicles in the United States. In order to rank the vehicles by their relative costs to insure, Insure.com compared rates provided by the website Esurance.com for a 45-year-old single male with no traffic violations who drives less than three miles to work. The amounts of coverage were also the same for each vehicle. Premiums for three different cities, one on the East Coast, one on the West Coast and one in the Midwest, were averaged for each vehicle. Factors such as popularity with car thieves, how much the vehicle costs to repair after a crash and the amount of damage it does to another vehicle in a crash can influence a vehicles cost to insure, said Loretta Worters, vice president of the Insurance Information Institute. Options, such as a bigger engine or a high-performance trim level, can make one vehicle cost more than another even if they are the same make and model, said Worters. For example, a Honda Civic Si, the high-performance version of that car, might cost more to insure than the Honda Civic Hybrid. Some vehicles are also more prone to having parts stolen, such as headlights or spoilers, Worters said. Before deciding on a car to purchase, Worters recommends that shoppers contact their insurance agent with a list of the vehicles being considered. Top 20 most popular cars ranked by relative cost to insure Least expensive vehicle to insure is listed first. 5. Ford Taurus 10. Toyota Corolla 11. Ford Focus 12. Nissan Altima 14.Honda Accord 15. Toyota Camry 16. Chevrolet Silverado pick-up 17. Honda Civic 18. Ford Explorer 19. Dodge Ram pickup |
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