Want to drastically cut down on how much you’re paying for car insurance? You might want to consider trading your car in for something a lot cheaper to cover. Turns out, it’s not just the cost of services, tyres, and fuel consumption that you should research when you’re looking at a car’s overall expenses… You also need to factor in the cost of insurance.
Not to put too fine a point on it, but when you’re buying a new or second hand car, you absolutely should check how much it’ll cost to insure the blessed thing because this is an ongoing monthly cost and if you can’t afford the insurance, then it isn’t going to work out in the long run. This is especially true if you’re getting vehicle finance, where it’s a requirement for you to get comprehensive insurance as part of your contract.
Here’s a look at the most affordable cars to insure:
Toyota Yaris
The Toyota Yaris is on this list for good reason. It’s a total no-brainer as a budget-friendly make and model, with a choice between sedan and hatchback. Both options are aesthetically pleasing to look at and handle well on the road, but more importantly, they’re fuel efficient, cost effective to repair, and offer desirable safety features.
Suzuki S-Presso
Suzuki’s S-Presso was launched in early 2020 and it’s not only the least expensive new car on the market but it’s also 1 of the cheapest cars to insure overall. We call this a classic cheap and cheerful, with a surprising amount of interior space given how small it is and Suzuki’s touchscreen infotainment system included. This car also boasts an impressive fuel economy, along with all the safety and comfort essentials, including air conditioning, front electric windows, remote central locking, rear park distance control, trip computer, dual front airbags, and ABS braking.
Corsa Lite
This is a really good value car. In spite of being on the smaller side, the Corsa Lite still manages to include long, wide doors and a spacious boot. What also puts this in the ‘good choice’ column is that the repair parts are easily accessible, it comes with security features, is fuel efficient, and has great power-assisted steering.
Volkswagen Polo
The newer Volkswagen Polo models come with anti-corrosive metal bodies and spacious interiors with leather upholstery, so it feels pretty lux. Moreover, car reviews have pointed out how this car is easy to drive, with powerful engines ranging from 1.2L – 1.6L. As you’d expect for a car on this list, the Polo is also fuel efficient and offers good safety features.
Renault Kwid
Surprisingly to some, the Renault Kwid is 1 of the cheapest cars to insure comprehensively in the country. The Kwid has a distinctive look (kind of like a scaled-down SUV) is fitted with a smart dashboard layout, including a 7-inch touchscreen with smartphone mirroring. It’s also got decent ground clearance, amazing fuel consumption, and all 2019 and onwards models are kitted with ABS braking.
The major learning here isn’t just that you’ve got to shop around for the car that suits your driving style and needs, but you’ve also got to check the insurance premium on the car you want to buy. Once you’ve selected 2 or 3 cars that you’re interested in, it’s time to check how much your monthly premiums could be. This insurer offers decreasing premiums for their comprehensive car insurance, which basically means that every month your premium will decrease by a percentage that’s in line with the insured car’s rate of depreciation.
Seeing as every month your car’s value goes down and your insurance premium is related to its value, it just makes sense to pay less if your car is worth less.
Posted in partnership with King Price Insurance
