Vehicle price points saw a significant uptick after the COVID-19 pandemic disrupted supply chains, with the average new car priced at $47,000 at the end of 2021 and used cars sitting around $28,205, according to The Zebra. Naturally, the rising cost of purchasing vehicles led to higher insurance rates. While inflation slowed in 2023, the cost of repairing and replacing vehicles continues to rise, along with monthly premiums, according to ValuePenguin. A comprehensive survey conducted by ValuePenguin included information from 3.6 million quotes, 41,000 zip codes and 37 U.S. insurance companies, adjusting for factors that affect auto insurance premiums such as driving records, location and demographic details. The data revealed that sedans and crossover SUVs are the most affordable vehicles to insure, while Tesla models continue to be the most expensive. The most inexpensive models to insure are the Honda CR-V ($219) and Ford F-Series ($230). Car insurance policyholders who shop around for the lowest rates save an average of $398 on their premiums annually, according to the survey results. Still, there are other ways to save on auto insurance costs including:

• Utilize available discounts such as lower rates for remote workers driving fewer miles or pay-per-mile policies.
• Adjust auto insurance coverage to minimum coverage, if possible, or remove optional coverage such as roadside assistance.
• Improve credit scores. A good credit score versus a poor credit score can change available premiums by 80% because people with lower scores could be more apt to file a car insurance claim.

In the slideshow above, we count down the top-selling new vehicles in 2024 and the average cost of insuring them, according to ValuePenguin data.   Related:

• Auto premiums could increase another 12% in 2024
• States with the slowest growing personal auto rates
• Majority of Americans say car insurance is becoming unaffordable