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Mercury Insurance Names the Most Affordable New Vehicles to Insure
2020 Chevrolet Spark and 2020 Chevrolet Sonic are tied as the most affordable new vehicle to insure; 2021 Ford Mustang Mach-E makes the list as one of the most affordable EVs to insure
Today, consumers have many more types and options of vehicles to choose from than ever before, so we scanned the industry to put together these lists as a guide for consumers to consider in terms of insurance costs.

LOS ANGELES, Calif. (November 18, 2020) – New vehicle sales have rebounded since April of this year, but prices have climbed to record highs due to strong consumer demand. Mercury Insurance (NYSE: MCY), a leading auto insurer in California and provider of auto insurance in 10 other states, has put together lists of the most affordable new vehicles for various segments and fuel types to help consumers find a vehicle that will save them money on insurance.

Mercury’s research and development team examined 2020 to 2021 model year (MY) coupes, convertibles, sedans, SUVs, vans, trucks and fuel efficient vehicles – including pure electric vehicles (EVs) – that are available at car dealerships today to compile these lists[1].

“Consumers are finding that purchase prices are up when car-shopping, especially now that the manufacturer incentives that were popular when the COVID-19 pandemic first hit have largely gone away. Mercury wants to help them understand that there are ways to keep ownership costs low and save money,” said Chong Gao, director of product management R&D for Mercury Insurance. “Today, consumers have many more types and options of vehicles to choose from than ever before, so we scanned the industry to put together these lists as a guide for consumers to consider in terms of insurance costs.”

 

Here is the top-ten list for new coupes, convertibles and sedans, beginning with the most affordable make and model to insure.

  • Chevrolet Spark (tied for first)
  • Chevrolet Sonic (tied for first)
  • Fiat 124
  • Honda Fit
  • Hyundai Elantra
  • Hyundai Veloster
  • VW Golf
  • Buick Regal
  • Toyota Yaris
  • Toyota Prius

Here is the top-ten list for new SUVs, vans and trucks, beginning with the most affordable make and model to insure.

  • Chevrolet Express
  • GMC Savana
  • Hyundai Santa Fe
  • Honda Pilot
  • Mazda CX-9
  • Kia Sportage
  • Chevrolet Silverado
  • Jeep Cherokee
  • Kia Sorento
  • Chevrolet Colorado

 

Here is the top-ten list for new green vehicles/EVs, beginning with the most affordable make and model to insure.

  • Kia Soul
  • Nissan Leaf
  • VW E-Golf
  • Hyundai Ioniq
  • BMW i3
  • Chevrolet Bolt
  • Honda Clarity
  • Ford Mustang Mach-E
  • Jaguar I-Pace
  • Audi E-Tron

 

About Mercury Insurance

Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit www.mercuryinsurance.com or Twitter and follow the company on Facebook.

 

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[1] Mercury Insurance developed the list based on full coverage premium (BI, PD, COMP, COLL, MP, UMBI and UMPD) for a hypothetical driver with average factors for each rating element. 

For further information: PCG – Kyle Reuter (424) 903-3657 (kreuter@pacificcommunicationsgroup.com)

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