Revealed: The cheapest cars to insure in 2023
Research by Go.Compare found that the Mazda MX5 was the cheapest car to insure, on average, while Tesla, Mercedes-Benz and BMW models were the most expensive.
If you’re in the market for a new car, how much it costs to insure should be a key consideration.
Go.Compare found that the top five cheapest cars to insure in 2023 are the Mazda MX-5 (£201 on average), Toyota iQ (£209), Porsche Boxster (£224), Fiat Panda (£226) and Smart ForTwo (£229).
On the other end of the scale, the most expensive car to insure is Tesla’s Model Y which, with annual comprehensive insurance costing an average of £841, is more than four times more costly to cover than the Mazda MX-5. This is followed by the Mercedes-Benz GLE (£835) and BMW M4 (£766).
As age and experience are significant factors when it comes to the cost of car insurance, younger drivers can expect to pay more – but choosing their set of wheels wisely could help new road-users make a significant saving.
The data shows that the cheapest car for under-25s to insure is the Peugeot 107, at £528.
Ryan Fulthorpe, Go.Compare car insurance expert, said: “Not all drivers stop to consider how their insurance costs might change depending on the car they choose – but the truth is that it can vary quite widely.
“Insurers consider a number of different factors when it comes to providing your insurance quote, including not only the age, experience and driving history of the motorist, but also the kind of car being driven.
“The kind of safety features your car has, its age, the size of its engine and how powerful it is will all likely affect the cost of your insurance. So, it’s well worth scoping out your options before you commit to a car purchase. By taking a few minutes to compare car insurance online, you can quickly calculate the costs of getting on the road and help make sure you find a dream car – and avoid the nightmare of unexpectedly high costs.”