When looking for a branded off-road vehicle, we all have a vision of the best Jeep to buy. In today’s economy, it helps to choose the cheapest Jeep with the lowest rates possible. But which Jep has the cheapest premiums? And what if there’s been a recent accident on your record? How does that change your decision?
Why insurance premiums are different
Auto insurance is something you legally have to drive in most states. As for how much you have to pay to insure all your vehicles, the price varies from person to person. why is that?
Insurance companies consider several factors, such as your age, gender, and the type of vehicle you drive. According to CarInsurance.com, each company draws statistics from various reports to determine how risky a particular vehicle is on the road. But they don’t all pull from the same place. Also, prices can increase for a variety of reasons.
The premium you pay one year may differ from the amount you pay the next year due to changes in factors such as inflation, higher auto parts prices, and even higher repair costs. Credit score and location are also factors companies consider when determining new insurance premiums. A person with low credit will pay multiple persons with a higher rating, except in states where credit reports cannot be used to calculate rates.
Because everyone’s situation is different, insurers must consider each case individually and use their own data to determine what the charges will be.
What is the cheapest Jeep to insure?
There are quite a few models in the Jeep lineup now. The cheapest to insure is the Jeep Wrangler SUV. An average age person without a mark on the record will have to pay about $1,433. If the same person had a lower credit score, the price would put him at $2,461, which isn’t really that bad when compared to other Jeep vehicles.
The Jeep Gladiator model has the highest premium, with an annual premium of $1,893 for the high-quality model. Those less lucky with their credit score will have to pay about $3,252, about $1,000 more than the Wrangler model. If their record is good but there is an accident on file, the cost will be in the $2,779 range for him.
In the case of the Wrangler, a driver with an accident record would pay $2,104, about $600 less than the Gladiator. Even the Grand Cherokee is pretty expensive, with a premium of about $400 more than his version of the Wrangler.
There are so many factors that determine the insurance rate for a vehicle you own, including location, age, and credit rating. If you’re looking to buy a Jeep but want to keep your insurance costs down, the Wrangler SUV is the way to go.
How much does it cost to insure a Jeep branded vehicle?
Of course, it depends on the specifics of your situation, such as your age, location, and driving history. But on average, a 40-year-old driver with a good driving record and good credit can expect to pay about $1,591 in premiums. If the same person has less credit, the price will rise to $2,733 for him. But if a 40-year-old driver had a recent accident, the price would drop him to the $2,336 range.
If the person is 18, you can expect the price to be much higher, according to CarEdge. increase. If your credit score is in the lower range, the price goes up to $8,627. But if all is well and the driver is at fault, they will pay him $7,374 in premiums.
Another factor to consider is where you are driving your Jeep. Some states are more expensive than others. For example, a driver with good credit and a proven track record in Michigan can pay about $3,681. With poor credit, the price could jump him to $7,658, and if an accident at fault is recorded, premiums could cost him $4,855.