Car insurance takes a big bite out of any household budget but insurance doesn’t have to be expensive. Frugal families do their homework before handing over any money, and that includes purchasing insurance. Drivers with a small budget have a number of choices when it comes to the least expensive cars to insure.
According to insure.com
, 20 vehicles on the market are cheap to insure, meaning drivers hand over less of their hard-earned money to pay the monthly premiums.
The five least expensive vehicles and their average premiums are:
- The Hyundai Santa Fe, at $832
- The Kia Sportage, at $840
- The Hyundai Entourage, at $848
- The Kia Sedona, at $857
- The Kia Rio5, at $870
Insurance rates are based not only on the driver and zip code but also on the type of vehicle. Cars in a low-risk category are less expensive to insure, making them more affordable for many. It’s also interesting to note that these imports both come from South Korea. Some facts on each vehicle’s true costs give the big picture:
The 2012 Hyundai Santa Fe
The Santa Fe crossover has an MSRP cost in the $23,225 to $30,925 range, and the monthly car payments are between $438 and $584. The sticker price exceeds the Blue Book Fair Purchase price of $22,674.
The Santa Fe’s safety features include:
- Six airbags
- Anti-lock brakes with brake assist
- A tire pressure monitoring system
- Electronic stability and traction control
- Active front head restraints
Scrutinizing further, it received a good rating in the IIHS Frontal Offset Crash Test. The IIHS rates autos on how well they perform in high speed front and side crash tests using a scale from poor to good. It also rates head and seat restraints on how well they protect against neck injuries in rear impact collisions.
he 2012 Kia Sportage
The MSRP on the Sportage is between $18,500 and $28,400, and monthly car payments run between $349 and $536. The asking price exceeds the Blue Book price of $18,119. Safety features that come standard include six airbags, traction control, four-wheel anti-lock disc brakes and an electronic stability program.
The 2008 Hyundai Entourage
The MSRP on the Entourage, Korea’s first minivan, is $23,995 to $29,895 and the monthly payments run anywhere from $453 to $564. The sticker price exceeds the Blue Book/Private Party value of $10,845 to $12,995. The IIHS gave the Entourage a good rating on its Frontal Offset Crash Test and the NHTSA gave it a five-star rating on its Frontal Crash Test. Some of its safety features include:
- A security system
- Anti-whiplash head restraints
- Overhead, side impact and front airbags
- Seatbelt pretensioners in case of collision
- Anti-lock brakes
The 2012 Kia Sedona
Based on the Sedona’s $24,900 to $29,190 MSRP, the monthly payments are between $470 and $551. For the money the car’s 3.5 liter V-6 engine has enough kick under the hood to take it from 0-60 in 7.6 seconds. Compared to its sticker price, the Blue Book price is $24,600. Its safety features include:
- Side impact and side curtain airbags
- Four-wheel anti-lock disc brakes with electronic brake force distribution
- An anti-skid system
- An electronic stability system
The 2012 Kia Rio5
The MSRP for the Rio5 runs from $13,600 to $17,700 and the monthly car payments run between $257 and $334. The Blue Book price for this five-door hatchback is in the sticker price’s low range, at $13,667. Similar to the other vehicles, its safety features include six airbags and rear-disc anti-lock brakes.
It’s true that the law requires car insurance but there’s no need to wreck the family budget when taking on the expense of monthly premiums. Quality vehicles are out there in the lower price ranges, and that includes reasonably-priced insurance. Careful research and number-crunching will result in significant savings.
Guest author Patricia White is a freelance blogger and is writing on behalf of carinsurance.org.uk.
Image by Sébastien Launay, on Flickr