Professional Advice: The Best 4 Cars for Insurance Rates

Quick quiz. Which vehicle do you think is cheaper to insure: a 2017 Toyota Yaris or a 2017 Chevy Silverado? You might be tempted to say the cheap and cheerful Yaris, but you’d be wrong, according Kathy Luciano, an auto insurance expert with CAA. In fact, the two-tonne Silverado is the least expensive vehicle in Ontario to cover—and the next three entries on this list are mostly trucks. 

Why? Well, it comes down to a host of factors, says Luciano. Trucks are generally safer, so if you get into a fender-bender, your accident benefits—potentially a big-ticket item for insurance companies—are likely to be less. Trucks, especially those built in North America, are also relatively common, so spare parts aren’t as expensive as they would be for a sportier vehicle. Finally, insurance rates in rural areas, where trucks are common, tend to be lower than those in cities, where accidents happen more often.

Here’s a closer look at the least expensive vehicles to insure in Ontario.

Chevy Silverado 3500HD

Price: $42,960

Key Features: This heavy-duty pickup comes with a suite of active safety equipment, including a rear camera, a lane-departure warning system and forward-collision alerts.

GMC Savana

Price: $38,175

Key Features: The Savana, which comes in cargo and passenger configurations, has a traction-control system that helps keep this behemoth on the road in slippery conditions and an optional Wi-Fi hotspot that will help keep the back rows entertained.

Ford Transit

Price: $34,849

Key Features: A rear-view camera lets you see behind this boxy cargo hauler, while a tire pressure monitor will head off some flats before they happen.

Nissan Frontier

Price: $23,648

Key Features: This mid-size pickup is forged with what Nissan calls “impact-resistant materials,” including high-tensile steel and an old-school chrome bumper.