Professional Advice: The Best 4 Cars for Insurance Rates
Forget compact cars. If you want to save on your insurance, think big.
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
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.
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.
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.
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.