10 Cheapest Cars to Insure in Canada in 2022

Interior view of a Toyota vehicle

Purchasing a vehicle is a considerable investment but the purchase price shouldn’t be your only consideration! While fuel economy and regular care and maintenance are a priority for many consumers, all vehicles on the road are required by law to have auto insurance. Car insurance is important in providing financial protection for the policyholder and others drivers in case of a collision. 

First-year insurance premiums may cost up to as much as one-third of a new vehicle’s purchase price! Thousands of vehicles are bought daily without the buyers giving thought to the cost of insuring them. There are a variety of factors that determine car insurance rates, such as your driving history, where you live, and the type of vehicle – and some vehicles are cheaper to insure than others.

Before you head out to buy a new car, be sure to take the cost of insurance into consideration. To help you out, we’ve listed to ten cheapest cars to insure in Canada in 2022.

The Top 10 Cheapest Cars to Insure In Canada

1. 2009 Dodge Journey

This is the firstDodge Journey model, which replaced both the Dodge Magnum and Chrysler Pacifica in an attempt to design a crossover vehicle. The premiums on the Dodge Journey cost around 43% less than the national average and it is known for its safety ratings, reliability, and performance.

2. 2011 Ford F150

The 2011 Ford F150 comes in at 35.78% less for insurance compared to the national average. This pickup truck is fuel-efficient and has impressive towing and hauling capabilities. It’s one of Canada’s best-selling trucks and, since replacement parts are readily available, the insurance rates on this vehicle are low.

3. 2010 Toyota Matrix

The Toyota Matrix was designed as a hatchback of the popular Corolla model. Even though production was discontinued in 2014, there are many mechanical components still available to keep this car up and running so the insurance rates are relatively low – 32% lower than the national average.

4. 2011 Chevrolet Cruze

The 2011 Chevrolet Cruze gets high marks in collision tests and was named a top safety pick by the IIHS (International Institute for Highway Safety). In 2011, it also won the Canadian Car of the Year from the Automotive Journalists Association of Canada.

It’s no wonder that insuring this vehicle is 28.83% less expensive than the national average!

5. 2015 Volkswagen Golf

Since we started listing the cheapest cars to insure in Canada, the Volkswagen Golf keeps showing up! Drivers love its size, reliability, versatility, and safety. Not to mention its lower insurance rate – which is 27.89% less than the national average.

6. 2006 Toyota Corolla

Even though Toyotas are known to be robust and reliable models, the 2006 Corolla only lands at number 6 on this list – even though replacement parts are widely available and less expensive than other models.

However, you can still expect to pay 25.94% less on insurance rates compared to the rest of the country!

7. 2019 Dodge Grand Caravan

This isn’t going to be the first time you see the Dodge Grand Caravan on our list! It is considered to be one of the most affordable vehicles in Canada – both when it comes to the purchase price and insurance.

The 2019 GT model of the Dodge Grand Caravan insures for 25.94% less than the national average. Even though the model is currently being phased out, parts are still easily accessible and inexpensive.

8. 2013 Ford F150 

Another Ford F150! This 2013 Ford F150 is an updated version of the 2011 model (#2 on our list) with insurance rates around 25% lower than the national average. The changes to the 2013 model included new styling on the front-end as well as an upgrade to the infotainment system. 

It’s possible that the higher insurance rates on the 2013 F150 compared to the 2011 model are due to statistical differences in theft and collision rates, as well as the higher cost of replacing the fancy new bumper.

9. 2011 Dodge Grand Caravan

For this model of the popular Dodge Grand Caravan, you can expect to save around 20% on insurance compared to the national average. This particular model is popular with families and boasts affordable repair and replacement costs.

10. 2008 Dodge Grand Caravan

Rounding out our list is yet another Dodge Grand Caravan! The insurance premiums for the 2008 model are 19.4% less expensive than the national average. Like all Grand Caravans, replacing parts is affordable which helps to keep the insurance rates down.

How Has COVID-19 Affected Insurance Rates?

While the 10 cars mentioned above come below the national average for insurance rates, you’ll probably notice a continued increase in premiums in 2022.

As we continue to make our way through the pandemic and restrictions life across the country, Canadians will be hitting the road once again. Their driving patterns can affect insurance rates across the country.

Overall, it’s hard to say for sure how high insurance rates will climb. That’s why it’s important to take the cost of insurance into consideration when buying a new vehicle. By doing research and choosing one of the models on this list, you can rest assured you are receiving a lower than average rate on a safe and reliable vehicle!

Get a Quote Today!

Of course, the cost of insurance will depend on the vehicle you drive and your personal circumstances. Don’t wait to find out how much your insurance is going to cost! Contact ARC Insurance today for a free quote or get in touch if you have any questions.

Get Your Free Quote

 

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