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HomeCar Insurance ResourcesList of Small Cars With Cheap Insurance

There are many factors that determine the cost of the premiums of your car insurance and the make and model of the car being insured is one of them. Here is a list of the cheapest small cars to insure.

Kia Rio 5-Door

Although a hatchback it is classed as a subcompact vehicle which qualifies it as a small car. Kia has a good name in the vehicle manufacturing industry. They are a popular brand because of their quality. Another reason the Kia Rio 5 Door is popular is that it is one of the cheapest small cars to insure. Partly because of its sale price and its safety features. Both are important metrics for insurance companies.

Mitsubishi Mirage

Aside from this vehicle being cheap to buy. This means it’s cheaper to replace for the Insurance Companies it has some good ratings when it comes to safety which is another big plus with the insurance companies. It has received a four-star rating for the 2020 models in overall rating, front crash, side crash, and rollover. Something else that will be considered by the Insurance companies is the repair costs. This metric is important because if the car is in a crash Insurance companies favor cars with the most affordable repair costs. The average repair cost for subcompact models is about $456, and the Mitsubishi is about $457.

Chevrolet Spark LS

For those who like a sporty look but don’t like the potential costs of insurance for that type of vehicle this Chevrolet Spark LS is a good choice. Aside from a reasonable replacement cost, the 2021 model of this vehicle comes with some impressive safety features which include overhead and knee airbags. Along with pre-tensioners for the seatbelts. For repair costs, this vehicle averages $434.

Nissan Micra S

This small hatchback was considered to be one of the cheapest cars to buy in the small car line. That along with its good reputation brought some decent insurance rates. The one drawback is that the Nissan Micra is being discontinued for Canada after 2019. This means it is worth checking with your insurance company to see if this is going to affect your insurance.

Toyota Yaris 4 Door

When it comes to replacement costs for Insurance companies the average price for this particular vehicle at $16,595 is considered reasonable. Another factor the insurance providers will consider is the safety ratings which are being rated as good for the different categories in crashworthiness

Honda Fit DX 5DR

Another compact vehicle that can be considered for those who want a reasonably priced car that will bring lower insurance rates. With no compromise on safety features. The Honda Fit has received a five-star rating overall which includes front crash, side crash, and four-star for rollover.

Mitsubishi Mirage

This is a subcompact hatchback that comes with a good purchase price as well as affordable vehicle insurance rates. It has some decent crashworthiness safety ratings. It may not be the cheapest to insure in the small car category but it is still far more affordable compared to other models that come under different categories.

Nissan Versa Note

This mini car has not collected a lot of data as yet for some of the safety metrics. However, the replacement price is enticing for insurance providers. It has received a good overall rating for crashworthiness.

Hyundai Accent E 4DR

Those who are looking for a small model car in the 2021 models, may appreciate this make and model. The insurance companies appear to be impressed with the replacement value and the overall cash rating for the major categories is four-star with the side crash rating receiving a five-star rating. Another factor that is important to the insurance companies is how much of a risk is there for the theft of a vehicle. Usually, it is bigger and more costly cars that create the biggest risk. However, when a car has a content theft-deterrent alarm installed like this model does it may be something that the insurance companies will also consider when determining their premiums.

Nissan Sentra

Overall when it comes to a 4 door small car sedan this one has become a favorite of many. It has received the top safety pic for 2020. Which is going to be important to the insurance companies. Several of the specific models are at the high end of cheap small cars when it comes to price. However, the credibility of Nissan does hold some weight when it comes to insurance costs for replacement. The Nissan Sentra stepped up its safety features for 2020 and has a safety system called the Nissan Safety Shield 360. This is a suite of safety features. Another improvement has been in the airbags.

The Metrics

When Insurance companies are considering the different metrics regarding the make and model of cars they will consider the cost of repair and replacement. Safety factors are a big consideration as well as it lowers the risks for the Insurance Companies.

It is important to consider specific discounts that may be offered by some insurance companies for additional safety features that can be added to a vehicle. These may lower the costs even further than is available for the cheap small cars.

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