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 Subaru Impreza at $1,312 per year for full coverage insurance to the Toyota Mirai at $1,956 per year for 2022 models. The overall average cost of insurance for the small car segment is $1,557 per year.
Here is the insurance cost breakdown for the entire small car class.
|Rank||Make/Model||Annual Cost||Monthly Cost|
|19||Mitsubishi Mirage G4||$1,714||$143|
Broken down as a monthly expense, car insurance for the small car segment ranges from $109 to $163 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 $1,557 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 2022 model year small car to insure is the Subaru Impreza, costing $1,312 per year, $109 per month, or $656 for a 6-month policy. With the average small car costing $1,557 per year for insurance, the Subaru Impreza will save around $245 each year.
What is the most expensive small car to insure?
The most expensive small car to insure is the Toyota Mirai, costing $1,956 per year, $978 for a 6-month policy, or around $163 per month. The Toyota Mirai will cost around $644 extra each year compared to the cheapest small car to insure, the Subaru Impreza.
What is the average insurance cost for a small car?
Full coverage insurance for the average 2022 model year small car costs an average of $1,557 per year. With the national average for all vehicles being around $1,551, insuring a small car on average will be about the same.
What is the safest small car?
- Honda Civic 4-door Sedan and Hatchback – 2021 models
- Honda Civic 2-door Coupe – 2020 models
- Nissan Sentra 4-door Sedan – 2021 models
- Hyundai Veloster 2-door Hatchback – 2021 models
- Toyota Corolla 4-door Sedan and Hatchback – 2020 models
- Hyundai Elantra 4-door Sedan – 2020 models
What is the most popular small car in America?
The most popular small car in the U.S. by vehicle sales figures is the Honda Civic. In the third quarter of 2021, 63,619 Civics were sold compared to 36,418 purchases of the runner-up Toyota Corolla. Sales for both models dropped substantially from 2020, due to the popularity of small and mid-size SUVs and also the impact of Covid on new vehicle sales and deliveries.
Does a Honda Civic or Toyota Corolla cost less to insure?
With Honda Civic insurance costing around $1,498 a year, and Toyota Corolla insurance costing around $1,486, the Corolla will be approximately $12 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 XSE or XSE Apex Edition could result in a higher price for insurance on a Corolla.