Jeep Grand Cherokee Insurance Cost for 2023

Is Jeep Grand Cherokee insurance expensive?

We calculated insurance prices from the cheapest Laredo 2WD trim to the Summit Reserve 4xe model to look at how the Grand Cherokee compares to the rest of the 2023 midsize SUV segment.

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How much are Jeep Grand Cherokee insurance rates?

Jeep Grand Cherokee insurance costs around $1,926 a year, or around $161 if paid each month. With the average midsize SUV costing $1,770 a year to insure, the Jeep Grand Cherokee would cost about $156 more to insure each year.

When compared to all 2023 model year vehicles, insurance on a Grand Cherokee costs 1.1% less than the overall 2023 model average rate of $1,948 per year.

The chart below illustrates how average Jeep Grand Cherokee car insurance rates drop with driver age, and also the effect that different deductible amounts can have on policy cost. Our average rate is obtained from the data for a 40-year-old driver with $500 physical damage deductibles.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Chart shows average insurance cost for a 2023 Jeep Grand Cherokee with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all Jeep Grand Cherokee trim levels.Data last updated on August 11, 2023
Jeep Grand Cherokee Car Insurance Rates
2023 Jeep Grand Cherokee Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$3,236$270
$500$3,830$319
$250$4,456$371
30$1,000$1,694$141
$500$2,028$169
$250$2,372$198
40$1,000$1,620$135
$500$1,926$161
$250$2,242$187
50$1,000$1,480$123
$500$1,754$146
$250$2,038$170
60$1,000$1,450$121
$500$1,720$143
$250$2,000$167

As illustrated above, insurance rates drop as drivers mature with all other factors held constant. Conversely, insurance rates tend to increase as the MSRP of the vehicle increases. This can be illustrated by looking at the insurance rates for the different trim levels offered for the Grand Cherokee.

When we look at the individual coverages on a car insurance policy and compare the cost of those to the average costs for all 2023 models, we get the data shown in the table below.

2023 Jeep Grand Cherokee vs. All Vehicles by Policy Coverage
Policy Coverage 2023 Jeep Grand Cherokee 2023 All Vehicle Average Difference
Comprehensive$470$482-2.5%
Collision$872$908-4%
Liability$408$3924%
Med/PIP Other$176$1665.8%
Total Policy Cost$1,926$1,948-1.1%

Lower than average cost Higher than average cost

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are based on the 2023 model year, with the rated driver being a 40-year-old married male with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to rates, which are averaged for all vehicle trim levels. Full-coverage physical damage deductibles are $500, liability limits are $100,000 per person and $300,000 per accident, and rates are averaged for all U.S. states.Data last updated on August 11, 2023
2023 Jeep Grand Cherokee vs. Average Vehicle by Insurance Coverage

Overall, insurance on the Grand Cherokee runs pretty similar to the 2023 model year averages. It’s a little cheaper for physical damage coverages but gives a little back in the liability and medical coverages.

Jeep Grand Cherokee insurance rates by trim level

The average cost to insure a Grand Cherokee is $1,926 per year, with trim level cost ranging from the cheapest Laredo 2WD at $1,730 per year up to the most expensive Summit Reserve 4xe at $2,078 per year.

That’s a difference of $348 between the cheapest and most expensive versions of the Grand Cherokee to insure, as is shown by the table below.

2023 Jeep Grand Cherokee Insurance Cost by Trim Level
Jeep Grand Cherokee Trim Level Annual Policy Six-Month Policy Per Month
Laredo 2WD$1,730$865$144
Laredo 4x4$1,762$881$147
Altitude 2WD$1,804$902$150
Altitude 4x4$1,830$915$153
Limited 2WD$1,836$918$153
Limited 4x4$1,862$931$155
Overland 2WD$1,938$969$162
Overland 4x4$1,960$980$163
4xe$1,966$983$164
Summit 2WD$1,980$990$165
Summit 4x4$1,992$996$166
30th Anniversary 4xe$2,004$1,002$167
Trailhawk 4xe$2,008$1,004$167
Summit Reserve 4x4$2,024$1,012$169
Overland 4xe$2,024$1,012$169
Summit Reserve 4xe$2,078$1,039$173

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2023 Jeep Grand Cherokee, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 12, 2023
Jeep Grand Cherokee Insurance Cost by Trim Level

The table above does a good job illustrating the fact that the more expensive Grand Cherokee models have more expensive car insurance rates. In general, anytime the cost of a vehicle increases with added options or packages, it’s going to bump up the cost of insurance.

The insurance cost range of $348 from the cheapest to most expensive Grand Cherokee model is a pretty large range for a single vehicle model. But that variation should reinforce the importance of getting actual insurance quotes for your vehicle before making a purchasing decision since the rate can vary quite a bit depending on the exact model.

If you can afford to pay your entire 2023 Grand Cherokee insurance bill at once, rather than in monthly or quarterly payments, you could save anywhere from $96 to $193 per year, depending on the company.

How much is insurance on a used Grand Cherokee?

In most cases, insurance on a used model will cost less than buying a new one. For example, when comparing insurance rates for a new 2023 model to a used 2017 model, the 2017 Grand Cherokee will cost around $378 less per year. A 2013 model will cost around $700 less per year than insuring a 2023 model.

2020 Jeep Grand Cherokee Limited 4x4
2020 Jeep Grand Cherokee Limited 4×4 SUV with 3.6L V6 and 8-speed automatic in Bright White Clearcoat

Car insurance tends to be more expensive when the value of the vehicle is higher. As a Grand Cherokee ages, it has a lower Actual Cash Value (ACV), which simply means your insurance company will pay less if the vehicle is totaled in an accident or weather-related incident. This lower ACV results in cheaper insurance rates for you.

The table below demonstrates how insurance rates are generally cheaper for older Grand Cherokee models, and also how rates drop for more mature drivers.

Jeep Grand Cherokee Insurance Cost by Model Year
Model Year and Vehicle Driver Age 20 Driver Age 40 Driver Age 60
2023 Jeep Grand Cherokee$3,830$1,926$1,720
2022 Jeep Grand Cherokee$3,732$1,876$1,674
2021 Jeep Grand Cherokee$3,726$1,866$1,668
2020 Jeep Grand Cherokee$3,676$1,840$1,646
2019 Jeep Grand Cherokee$3,382$1,690$1,512
2018 Jeep Grand Cherokee$3,240$1,618$1,448
2017 Jeep Grand Cherokee$3,096$1,548$1,384
2016 Jeep Grand Cherokee$2,832$1,418$1,272
2015 Jeep Grand Cherokee$2,890$1,450$1,296
2014 Jeep Grand Cherokee$2,816$1,410$1,266
2013 Jeep Grand Cherokee$2,426$1,220$1,096

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates for each driver age group are for a 12-month period and assume a clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 12, 2023
Jeep Grand Cherokee Insurance Cost by Model Year

The exception to the generality that car insurance rates increase with each new model year would be if a new model arrives at the dealership with enough new safety features that the liability rates drop enough to offset the higher physical damage rates due to the higher ACV for the newer model year.

It often takes a year or two to collect enough real-world data to make rate adjustments for improvements or detriments to vehicle safety. Simulations and crash test dummies cannot predict or take the place of personal injury data extracted from actual claims and accidents.

How do Grand Cherokee insurance prices compare?

Unfortunately, Jeep Grand Cherokee insurance prices tend to fall on the more expensive end of the midsize SUV insurance cost range. At $1,926 per year, it ranks 24th out of 31 total comparison vehicles, and costs $522 more per year to insure than the Honda Passport, which ranks in first place.

The chart below shows how the Grand Cherokee compares to the rest of the top 10 selling midsize SUVs in America, and the table below the chart shows the rankings for the entire midsize SUV segment.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Average rates are for a 2023 model year Jeep Grand Cherokee, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all Jeep Grand Cherokee trim levels. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 12, 2023
Insurance Cost Comparison: Jeep Grand Cherokee vs Midsize SUVs
Jeep Grand Cherokee Insurance Cost Compared to All Midsize SUVs
Rank Make/Model Insurance Cost Difference
1Honda Passport$1,404-$522
2Subaru Ascent$1,472-$454
3Ford Edge$1,534-$392
4Ford Explorer$1,542-$384
5Volkswagen Atlas$1,546-$380
6Nissan Murano$1,554-$372
7Subaru Outback$1,558-$368
8Volkswagen Atlas Cross Sport$1,616-$310
9Toyota Venza$1,650-$276
10Kia Sorento$1,660-$266
11Hyundai Palisade$1,680-$246
12Toyota 4Runner$1,696-$230
13GMC Acadia$1,726-$200
14Chevrolet Traverse$1,730-$196
15Honda Pilot$1,742-$184
16Buick Enclave$1,748-$178
17Nissan Pathfinder$1,760-$166
18Mazda CX-9$1,762-$164
19Mitsubishi Outlander Sport$1,790-$136
20Kia Telluride$1,798-$128
21Toyota Highlander$1,806-$120
22Chevrolet Blazer$1,836-$90
23Hyundai Santa Fe$1,858-$68
24Jeep Grand Cherokee$1,926--
25Jeep Cherokee$1,968$42
26Jeep Wrangler$2,008$82
27Ford Bronco$2,014$88
28Tesla Model Y$2,026$100
29Mitsubishi Outlander PHEV$2,072$146
30Dodge Durango$2,158$232
31Rivian R1S$2,216$290

Another useful metric is to see how the cost of insurance on a Jeep Grand Cherokee compares to the most similarly priced midsize SUV models. A 2023 model year Grand Cherokee has an average sticker price of $57,977 and ranges from $41,530 to $77,570.

The vehicles in the 2023 midsize SUV segment that have the most similar cost to the Jeep Grand Cherokee are the Tesla Model Y, Buick Enclave, Dodge Durango, and Ford Bronco.

The list below shows how those models compare to a Grand Cherokee for MSRP and average full-coverage insurance cost. See our insurance comparisons page for a complete list of car insurance comparisons.

  • Jeep Grand Cherokee vs. Tesla Model Y – With an average price of $56,490 and ranging from $54,990 to $57,990, the 2023 Tesla Model Y costs $1,487 less than the average cost for the Jeep Grand Cherokee. Drivers can expect to pay an average of $100 more annually for insurance on the Tesla Model Y compared to a Grand Cherokee.
  • Jeep Grand Cherokee vs. Buick Enclave – The Buick Enclave has an average sticker price of $53,830 ($54,990 to $60,865), which is $4,147 cheaper than the Jeep Grand Cherokee. The cost to insure a Jeep Grand Cherokee compared to the Buick Enclave is $178 more per year on average.
  • Jeep Grand Cherokee vs. Dodge Durango – With an average price of $52,977 ($40,090 to $91,185), the Dodge Durango costs $5,000 less than the average MSRP for the Jeep Grand Cherokee. Insurance on the Dodge Durango costs an average of $232 more per year than the Jeep Grand Cherokee.
  • Jeep Grand Cherokee vs. Ford Bronco – With an average MSRP of $49,092 and ranging from $32,295 to $73,780, the Ford Bronco costs $8,885 less than the average MSRP for the Jeep Grand Cherokee. Expect to pay approximately $88 more annually for insurance on the Ford Bronco compared to a Grand Cherokee.

Full coverage versus liability-only insurance

On older Grand Cherokee models, sometimes it doesn’t make sense to insure them for full coverage.

The rule of thumb is when the cost of physical damage coverage is more than ten percent of the value of the vehicle, it may be time to consider removing those coverages.

Liability insurance is all that is required to license a Jeep, and the table below shows the difference between average full coverage and liability-only rates for 1993 to 2012 Grand Cherokee models.

Jeep Grand Cherokee Insurance Rates for 1993 to 2012 Model Years
Vehicle Model Year Full Coverage Insurance Liability Insurance
2012 Jeep Grand Cherokee$1,180$508
2011 Jeep Grand Cherokee$1,126$504
2010 Jeep Grand Cherokee$1,082$500
2009 Jeep Grand Cherokee$1,032$496
2008 Jeep Grand Cherokee$982$488
2007 Jeep Grand Cherokee$938$480
2006 Jeep Grand Cherokee$922$474
2005 Jeep Grand Cherokee$904$470
2004 Jeep Grand Cherokee$872$466
2003 Jeep Grand Cherokee$850$462
2002 Jeep Grand Cherokee$833$453
2001 Jeep Grand Cherokee$816$444
2000 Jeep Grand Cherokee$800$435
1999 Jeep Grand Cherokee$784$426
1998 Jeep Grand Cherokee$768$418
1997 Jeep Grand Cherokee$753$409
1996 Jeep Grand Cherokee$738$401
1995 Jeep Grand Cherokee$723$393
1994 Jeep Grand Cherokee$709$385
1993 Jeep Grand Cherokee$695$377

Get Rates in Your AreaWhy is this important?

Table Data Details: Average insurance rates for each Jeep Grand Cherokee model year assume a 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to premium amounts. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 12, 2023
Jeep Grand Cherokee Insurance Rates from 1993 to 2012

Companies to consider

Finding affordable car insurance can be challenging, especially considering how many companies there are to choose from.

We’re all familiar with the big names like Progressive, GEICO, State Farm, and Liberty Mutual. But for every large company, there are dozens of smaller companies that you may not have even heard of.

That’s where the services of an independent insurance agent may be useful. They have the ability to compare Jeep Grand Cherokee insurance quotes with many different companies, including the smaller ones.

So keep that in mind when shopping around for a deal on car insurance. Often the best price is with a regional carrier or a small mutual insurance company.

Make sure you compare apples-to-apples coverages when shopping your coverage around. Identical policy deductibles, liability limits, and optional coverages help ensure you find the best deal.

As far as the big boys go, we assembled a list of some of the top companies and some of the pros and cons of each.

Every large company now gives you the ability to easily manage your policy online or through a mobile app, but they each offer slightly different coverages and policy perks.

1. Progressive

Estimated Progressive car insurance rate on a 2023 Jeep Grand Cherokee: $1,772 per year

Pros

  • Very easy to manage your policy, file a claim, or pay your bill either online or via their app
  • Progressive offers optional coverage for ridesharing for drivers who are employed by companies like Uber or Lyft
  • Coverages are available like accident forgiveness and a vanishing deductible

Cons

  • Have a below-average claim satisfaction rating in J.D. Power surveys
  • Somewhat expensive prices for teenage and early twenties drivers

Get a Quote Or read more about auto insurance coverages offered at Progressive.com

2. State Farm

Estimated State Farm car insurance rate on a 2023 Jeep Grand Cherokee: $1,830 per year

Pros

  • Nice renewal discount of around 14% if you have been with them for three years or more
  • Competitive prices for drivers with speeding tickets on their records
  • Good rates when adding a teenage driver to a policy

Cons

  • High average rates if you have bad credit
  • Prices are above average for drivers with prior accidents or serious violations

Get a Quote Or read more about auto insurance coverages offered at StateFarm.com

3. GEICO

Estimated GEICO car insurance rate on a 2023 Jeep Grand Cherokee: $1,599 per year

Pros

  • Allows customers to file claims or make payments through a smartphone app
  • On average, GEICO tends to have lower car insurance rates for most drivers
  • The company has strong financial ratings with rating agencies like AM Best and Standard and Poor’s

Cons

  • They don’t give insureds the option of having loan/lease gap insurance
  • They do not offer rideshare coverage for insureds who earn money with companies like Uber or Lyft

Get a Quote Or read more about auto insurance coverages offered at GEICO.com

4. Nationwide

Estimated Nationwide car insurance rate on a 2023 Jeep Grand Cherokee: $1,907 per year

Pros

  • Generally a low level of complaints filed by customers with state regulators
  • Optional coverages are available like accident forgiveness, vanishing deductible, and total loss deductible waiver
  • Company offers a usage-based price option called SmartRide for drivers who might be able to save money

Cons

  • Expensive average rates for drivers who have previously had an accident with injuries
  • Prices are not great for drivers with accidents or major violations

Get a Quote Or read more about auto insurance coverages offered at Nationwide.com

5. Allstate

Estimated Allstate car insurance rate on a 2023 Jeep Grand Cherokee: $2,562 per year

Pros

  • Offers perks like accident forgiveness and a disappearing deductible
  • They have a generally good customer satisfaction level with a low level of complaints filed with state insurance departments
  • They offer a usage-based insurance rating option, Drivewise, for drivers who want to try to get a discount

Cons

  • Average prices are not great for drivers with speeding tickets or other violations
  • Rates are above average for drivers who have prior at-fault accidents or lapses in coverage

Get a Quote Or read more about auto insurance coverages offered at Allstate.com

6. Travelers

Estimated Travelers car insurance rate on a 2023 Jeep Grand Cherokee: $1,733 per year

Pros

  • Has some of the most affordable loan/lease gap insurance
  • Perks are available like a decreasing deductible and minor violation and accident forgiveness
  • They offer a usage-based price option to help save money on car insurance

Cons

  • Prices are on the high side when adding a teenage driver to their parent’s policy
  • Has some of the more expensive rates for drivers over the age of 60

Get a Quote Or read more about auto insurance coverages offered at Travelers.com