Some of today’s most popular cars also cost the most to insure, relative to their price.
Recently, insuranceQuotes.com commissioned a study by Quadrant Information Services to determine an insurance-to-cost ratio based on a vehicle’s MSRP and average annual insurance cost. The findings might be a bit surprising, considering the top five worst car insurance deals are all popular sedans that are relatively cheap to purchase.
The study took a look at 20 of the most popular vehicles and divided the average annual cost to calculate its insurance-to-cost ratio. Helping contribute to the high cost of insuring some of these sedans is the fact that they’re also more likely to be stolen, with three of the five cars listed in the National Insurance Crime Bureau’s 2014 annual Hot Wheels report that identifies the 10 most stolen vehicles in the U.S.
5. Chevrolet Cruze
The Chevrolet Cruze starts off the list with an MSRP of $19,695 and an average annual insurance cost of $1,318. That gives the Chevrolet Cruze an insurance-cost-ratio of 6.69 percent. The Cruze is also one of the three most stolen vehicles in the U.S.
4. Honda Civic
Another popular vehicle is the Honda Civic with a starting price of $19,910. According to the study, its average annual insurance cost is $1,368 giving it an insurance-to-cost ratio of 6.87 percent.
3. Hyundai Elantra
With an insurance-to-cost ratio of 7.25 percent, the Hyundai Elantra has a starting price of $19,085 and an average annual insurance cost of $1,384.
Another one of the top 10 most stolen vehicles, the Toyota Corolla is second on the list of worst car insurance deals. Its starting price is $18,665 while owners can expect to pay an average annual insurance cost of $1,400. As a result, the Corolla has an insurance-to-cost ratio of 7.5 percent.
1. Ford Focus
Topping the list is the Ford Focus, the third of the vehicles that are also frequently stolen in the U.S. The Ford Focus has a starting price of $18,045 and an average annual insurance cost of $1,391 giving it an insurance-to-cost ratio of 7.71 percent.