Jeep Grand Cherokee Insurance Cost for 2022

• Jeep Grand Cherokee insurance rates average $1,680 per year, $840 for a 6-month policy, or $140 per month for full coverage, depending on the trim level.
• The cheapest Jeep Grand Cherokee insurance is on the Laredo trim level costing an average of $1,514 per year. The most expensive is the Summit Reserve 4xe at $1,818 annually.
• The Jeep Grand Cherokee is one of the more expensive midsize SUVs to insure, costing $136 more per year on average as compared to the rest of the segment.
• The Grand Cherokee ranks #24 out of 29 vehicles in the 2022 midsize SUV class for car insurance affordability.

How much are Jeep Grand Cherokee insurance rates?

Jeep Grand Cherokee insurance costs around $1,680 a year, or around $140 if paid each month. With the average midsize SUV costing $1,544 a year to insure, the Jeep Grand Cherokee would cost about $136 more to insure each year.

When compared to all 2022 model year vehicles, insurance on a Grand Cherokee costs 7.2% more than the overall national average car insurance rate of $1,567 per year.

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

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.

The average cost to insure a Grand Cherokee is $1,680 per year, with trim level cost ranging from the cheapest Laredo at $1,514 per year up to the most expensive Summit Reserve 4xe at $1,818 per year.

That’s a difference of $304 between the cheapest and most expensive versions of the Grand Cherokee to insure, as is shown by the table below.

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 $304 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.

How much is insurance on a used Grand Cherokee?

In most cases, insurance cost on a used model will cost less than buying new. For example, when comparing insurance rates for a new 2022 model to a used 2017 model, the 2017 Grand Cherokee will cost around $274 less per year. A 2013 model will cost around $570 less per year than insuring new.

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.

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 does Grand Cherokee insurance cost compare?

Unfortunately, Jeep Grand Cherokee insurance prices tend to fall on the more expensive end of the midsize SUV insurance cost range. At $1,680 per year, it ranks #24 out of 29 total comparison vehicles, and would cost around $136 more per year when compared to the segment average insurance rate.

When compared to all vehicles (not just the midsize SUV segment), average Jeep Grand Cherokee insurance rates cost 7.2% more than the national average car insurance rate of $1,567 per year.

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.

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 2022 model year Grand Cherokee has an average sticker price of $55,269 and ranges from $39,785 to $74,695.

The vehicles in the 2022 midsize SUV segment that have the most similar cost to the Jeep Grand Cherokee are the Buick Enclave, Tesla Model Y, Dodge Durango, and Ford Explorer.

The list below shows how those models compare to a Grand Cherokee for MSRP and average full-coverage insurance cost.

• Jeep Grand Cherokee vs. Buick Enclave – With an average price of $51,428 and ranging from $43,995 to $58,295, the 2022 Buick Enclave costs $3,841 less than the average cost for the Jeep Grand Cherokee. Drivers can expect to pay an average of $118 less annually for insurance on the Buick Enclave compared to a Grand Cherokee.
• Jeep Grand Cherokee vs. Tesla Model Y – The Tesla Model Y has an average sticker price of $61,490 ($43,995 to $63,990), which is $6,221 more expensive than the Jeep Grand Cherokee. The cost to insure a Jeep Grand Cherokee compared to the Tesla Model Y is $124 less per year on average.
• Jeep Grand Cherokee vs. Dodge Durango – With an average price of $47,465 ($35,475 to $66,670), the Dodge Durango costs $7,804 less than the average MSRP for the Jeep Grand Cherokee. Insurance on the Dodge Durango costs an average of $108 more per year than the Jeep Grand Cherokee.
• Jeep Grand Cherokee vs. Ford Explorer – With an average MSRP of $45,962 and ranging from $33,225 to $56,115, the Ford Explorer costs $9,307 less than the average MSRP for the Jeep Grand Cherokee. Expect to pay approximately $246 less annually for insurance on the Ford Explorer compared to a Grand Cherokee.

How much is liability insurance on a Grand Cherokee?

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