Jeep Grand Cherokee Insurance Cost for 2023

• Jeep Grand Cherokee insurance rates average $1,926 per year, $963 for a 6-month policy, or $161 per month for full coverage, depending on the trim level.
• The cheapest Jeep Grand Cherokee insurance is on the Laredo 2WD trim level costing an average of $1,730 per year. The most expensive is the Summit Reserve 4xe at $2,078 annually.
• The Jeep Grand Cherokee is one of the more expensive midsize SUVs to insure, costing $156 more per year on average as compared to the rest of the segment.
• The Grand Cherokee ranks 24^th out of 31 vehicles in the 2023 midsize SUV class for car insurance affordability.

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.

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.

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.

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.

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 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 24^th 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.

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.

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

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

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

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

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

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

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