Posted on February 6, 2017
TOP MARKS FOR JEEP ON 2016 INSURANCE RANKINGS
When you're looking to buy a car in Toronto or Mississauga, strong performance and value matter a great deal, but here's another very important consideration: how much will it cost to insure your vehicle? Insure.com has an annual ranking system for the cheapest cars to insure, and we have good news for Jeep lovers: for the third year running, Jeep scored extremely well. Number three on the list was the ever-popular Dodge Grand Caravan. And the Sport classifications of Patriot, Wrangler and Compass nabbed fourth, fifth and sixth on the list, with the Cherokee Sport claiming spot number nine.
Additional factors such as gender, your own driving history and what you use the vehicle for can definitely impact the final tally on insurance rates, but Insure’s 2016 list provides a very solid baseline for calculations.
Compact cars used to snag the lowest insurance rates, but those days seem to be long gone. With more utility vehicles--formerly considered to be single-purpose---being used for family transport, commuting and basic transportation, safety test scores are a priority. SUVS are safer than ever, less prone to rollover issues and thus, ideal for family use.
Especially in more urban centres, theft-appeal also influences insurance rates. Convertibles are, by design, that much easier to steal, so they cost more to insure. Turbo-charged engines are also desirable, as they cost quite a bit to replace. If a car has a reputation for fast driving, the cost of insuring it goes up significantly.
Here's an unexpected twist: a higher purchase price on the lot doesn’t always translate into an equally high insurance rate. And keep in mind that while your vehicle may be the type to fare better in a collision situation, the damage it can do to another vehicle also figures into the cost of your insurance.
Out of 33 manufacturers included in the survey, Jeep has the highest number of vehicles in the top-ten spot. When the car you have your eye on love also doesn’t cost a fortune to insure in the GTA, we call that a big win for both dealer and consumer.