Average SUV insurance rates: Are SUVs expensive to insure?

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SUVs have steadily gained popularity over the years, not just for their versatility and comfort but also for their lower insurance premiums. Insurers often view SUVs as safer, thanks to their robust construction and advanced safety features, which can result in lower rates compared to other types of cars. Our data shows that drivers who own an SUV pay an average of $1,935 per year for insurance, which is almost 9% less than the cost to insure a sedan.

Choosing the right vehicle can make a significant difference in your annual insurance expenses. While many might assume that the cost to insure a large vehicle like an SUV would be steep, the reality is quite different. While larger SUVs cost more to insure than smaller ones, overall SUVs often have lower rates, thanks to a combination of safety benefits, lower theft rates and reasonable repair costs. Understanding these factors can help you make an informed decision when it’s time to choose your next car.

Average cost of SUV insurance overall

On average, SUV drivers pay an annual auto insurance premium of $1,935. That’s almost 9% lower than the average annual premium for a sedan, which is $2,120. It’s also noticeably lower than the average annual price to insure a hatchback, which is $1,976. 

“SUVs tend to be cheaper since they’re safer, which reduces injury claims. An SUV is less likely to suffer major damage in a crash with a car,” says Paul Schneider, owner of Schnieder & Associates Insurance Agencies.

Schnieder continues, “Fewer and less severe claims mean lower costs for insurers to cover. “

The table below highlights the average car insurance rate by vehicle type. 

Cheapest SUVs to insure

Depending on the type of SUV you drive, you might pay hundreds of dollars less than the average SUV premium of $1,935 per year. 

Some of the most affordable SUVs to insure include the Honda HR-V, Mazda CX-30, Chevrolet Trailblazer, Honda CR-V, and Kia Seltos. On average, each of these SUVs costs less than $1,700 per year to insure. 

The table below highlights the most affordable SUVs to insure, on average. 

Most expensive SUVs to insure

Some SUVs are considerably more expensive to insure than the average of $1,935 per year. 

Some of the most expensive SUVs to insure include the Toyota Sequoia, Ford Expedition Max, Nissan Armada, Ford Expedition, and GMC Yukon XL. Each of these SUVs costs over $2,200 to insure each year, on average. 

The table below highlights the average annual premiums for more expensive SUVs to insure. 

SUV insurance cost calculator

How do SUV insurance costs stack up against other cars?

SUV insurance costs tend to be lower than other types of vehicles, including cars and hatchbacks. We explore the cost differences below. 

SUV vs. sedan insurance rates

On average, insuring an SUV costs around $1,935 per year, while sedans typically come in higher at $2,120 annually. This means SUV owners pay nearly 9% less for car insurance compared to sedan drivers.

See how the rates compare in the table below. 

SUV vs. hatchback insurance rates

Insuring an SUV is slightly more affordable than insuring a hatchback. While the average difference in cost is just 2%, these savings can add up over time for SUV owners.

See how the rates compare in the table below. 

SUV insurance rates by type

The specific SUV you choose can greatly influence your insurance rates. Each model has its own safety features and repair costs, which means you’ll face different insurance costs. 

How much does it cost to insure a luxury SUV?

“Luxury SUVs cost more to insure due to higher repair and replacement costs for parts,” says Schneider.

“A bumper for a Range Rover can run $3,000 compared to $500 for a Ford Explorer. Insurers pass on these costs through higher rates,” he says

But the cost of insuring a luxury vehicle ultimately comes down to the type of SUV you drive. For example, it costs less than $2,000 per year to insure an Acura RDX or Buick Envision. But it costs over $4,000 per year to insure a Range Rover P530, Range Rover P400, Range Rover P530 Autobiography, or a Maserati Levante Trofeo — more than double the cost.

The table below includes a range of luxury SUVs and their average insurance costs. 

How much does it cost to insure a performance SUV?

If you drive a performance SUV, expect to pay higher rates for car insurance. But there’s still a range to consider. 

For example, a Hyundai Kona N costs less than $2,000 to insure. On the other end of the spectrum, a BMW X6 M, Audi RS Q8, and Tesla Model X Plaid each cost over $4,000 per year to insure. 

SUV insurance cost by state

Car insurance costs vary based on where you live. Below is a look at the most and least expensive states. 

The most expensive states for SUV insurance

In each of these states, it costs over $2,400 per year to insure an SUV. 

• Louisiana
• Florida
• Colorado
• Michigan
• California

The most affordable states for SUV insurance

In each of these states, it costs $1,400 or less per year to insure an SUV. 

• New Hampshire
• Maine
• Hawaii
• Vermont
• Virginia

Methodology

Insure.com commissioned 2023 data for SUVs from Quadrant Information Services for all 50 states and Washington D.C. Rates are based on 40-year-old male driver. The coverage limits are $100,000 for bodily injury per person, $300,000 for bodily injury per accident, and $100,000 for property damage per accident, with $500 deductibles for comprehensive and collision coverage.

Sarah Sharkey

Contributing Researcher

 

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Sarah Sharkey is a personal finance writer with a master’s degree in management from the Hough School of Business at the University of Florida. She enjoys helping readers find money solutions that work. She has written for numerous personal-finance publications including Money Under 30 and The College Investor.