Thanks to the popularity of small and midsize SUVs, the small car segment has struggled over the last few years. This lack of consumer interest has fueled the discontinuation of models like the Chevy Sonic, Honda Civic Coupe and Si, and Honda Fit.
Despite the trend towards SUVs, there will always be a market for compact cars, and manufacturers continue to build safer, more reliable cars that help keep the cost of insurance affordable.
How much does it cost to insure a small car?
The small car segment falls on the cheaper side of the insurance cost spectrum, ranging from the Toyota GR Corolla at $1,650 per year for full coverage insurance to the Toyota Mirai at $2,362 per year for 2024 models. The overall average cost of insurance for the small car segment is $1,876 per year, or around $156 per month.
Here is the insurance cost breakdown for the entire small car class.
| Rank | Make/Model | Annual Premium | Cost Per Month |
|---|---|---|---|
| 1 | Toyota GR Corolla | $1,650 | $138 |
| 2 | Nissan Leaf | $1,662 | $139 |
| 3 | Honda Civic | $1,680 | $140 |
| 4 | Nissan Sentra | $1,738 | $145 |
| 5 | Subaru Impreza | $1,744 | $145 |
| 6 | Toyota Prius | $1,772 | $148 |
| 7 | Toyota Corolla | $1,850 | $154 |
| 8 | Kia Forte | $1,852 | $154 |
| 9 | Nissan Versa | $1,872 | $156 |
| 10 | Mitsubishi Mirage G4 | $1,916 | $160 |
| 11 | Volkswagen Jetta | $1,918 | $160 |
| 12 | Mazda 3 | $1,962 | $164 |
| 13 | Hyundai Elantra | $2,062 | $172 |
| 14 | Volkswagen Golf | $2,098 | $175 |
| 15 | Toyota Mirai | $2,362 | $197 |
Data Methodology: Rates and models are for the 2024 model year. Driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Premium is averaged for all trim levels available for each vehicle. Updated February 23, 2024
Broken down as a monthly expense, car insurance for the small car segment ranges from $138 to $197 per month. These rates assume an insurance policy that has both comprehensive and collision coverages, and is averaged for a 40-year-old married male driver.
Factors such as where you live, your credit score (some states), driver age and gender, and your driving history will all have an impact on the rate you pay.
Small cars generally tend to have a lower sticker price than their small SUV counterparts, which helps keep the cost of physical damage insurance to a minimum. Small cars often do not fare as well as larger cars and big SUVs in crash tests, so drivers may pay slightly more for liability and medical insurance, which can easily offset any physical damage insurance savings.
The list above excludes small luxury cars like the BMW 230I, Audi A4, and the Acura TLX which keeps the average rate of $1,876 as low as possible.
Here are some frequently asked questions about insurance a vehicle in the small car segment.
What is the cheapest small car to insure?
The cheapest 2024 model year small car to insure is the Toyota GR Corolla, costing $1,650 per year, $138 per month, or $825 for a 6-month policy. With the average small car costing $1,876 per year for insurance, the Toyota GR Corolla will save around $226 each year.
What is the most expensive small car to insure?
The most expensive small car to insure is the Toyota Mirai, costing $2,362 per year, $1,181 for a 6-month policy, or around $197 per month. The Toyota Mirai will cost around $712 extra each year compared to the cheapest small car to insure, the Toyota GR Corolla.
What is the average insurance cost for a small car?
Full coverage insurance for the average 2024 model year small car costs an average of $1,876 per year. With the national average for all vehicles being around $1,883, insuring a small car on average will cost a little more.
What is the most popular small car in America?
The most popular small car in the U.S. by vehicle sales figures is the Toyota Corolla. In the third quarter of 2023, 68,195 Corollas were sold compared to 52,927 purchases of the runner-up Honda Civic. Sales for both models increase significantly over prior year same-quarter sales figures.
Does a Honda Civic or Toyota Corolla cost less to insure?
With Honda Civic insurance costing around $1,680 a year, and Toyota Corolla insurance costing around $1,850, the Corolla will be approximately $170 cheaper per year.
This example averages insurance rates for all trim levels for each vehicle, so comparing the base level Honda Civic LX to an upper tier Toyota Corolla Hybrid XLE or Hybrid Nightshade Edition could result in a higher price for insurance on a Corolla.