20 Cheapest Cars to Insure in the Philippines
Published: September 2, 2019 | Updated: January 22, 2020 | Posted by: Venus Zoleta | Car Insurance
Affordability is a crucial factor that influences a car purchase decision. When buying a vehicle, one of the first things you’d like to know is how much it will cost to own a particular model.
But the cost of car ownership involves not just the unit’s selling price. There are other equally important costs that come with having a car—insurance is one of them.
Read more: How Much Does Car Insurance Cost in the Philippines?
Fortunately, a lot of options are available in the market when it comes to the cheapest cars to insure. Most of them happen to be cars with the cheapest vehicle selling price, especially hatchbacks from Japanese automakers such as Suzuki, Mitsubishi, Honda, and Toyota.
What model are you planning to buy? Is it inexpensive to insure? Check out the top cars that are cheap for insurance.
1. Suzuki Alto 800
Cheapest Annual Car Insurance Premium: PHP 7,155 (2019 Suzuki Alto 800 0.8L Gas M/T)
With a price tag of less than PHP 500,000, this Suzuki hatchback is among the most affordable cars in the Philippines today. It’s also one of the cars that are cheap for insurance at around PHP 7,000 per year.
What’s more, Suzuki Alto 800 is one of the country’s most fuel efficient cars, with a fuel economy of 24.81 km/L. This means its fuel consumption is low, and you can save money on gas.
Overall, it’s a sulit vehicle for buyers on a tight budget because of its cheap car insurance and selling price, as well as its good fuel efficiency.
2. Hyundai Eon
Cheapest Annual Car Insurance Premium: PHP 7,334 (2019 Hyundai Eon GL 0.8L Gas M/T)
One of the most popular hatchbacks in the Philippines, Hyundai Eon is very easy to afford by first-time drivers, with its affordable price of under PHP 600,000.
If you’re considering to buy a Hyundai Eon for your first car, you’ll be glad to know that it’s also one of the cheapest cars to insure at around PHP 7,000 per year (approximately PHP 600 per month).
Read more: Toyota Wigo vs. Hyundai Eon: Choosing the Ideal Mini Hatchback
3. Suzuki Celerio
Cheapest Annual Car Insurance Premium: PHP 7,619 (2019 Suzuki Celerio 1L Gas M/T)
Owning this five-seater hatchback fits nearly every budget, thanks to its low car insurance cost at around PHP 7,000 and impressive fuel efficiency at 29.14 km/L. Best of all, Suzuki Celerio is sold at an affordable price of around PHP 500,000.
4. Chevrolet Spark
Cheapest Annual Car Insurance Premium: PHP 8,868 (2019 Chevrolet Spark LS 1L Gas M/T)
The lowest-priced Chevy model also happens to be one of the American carmaker’s cheapest cars to insure. The Chevrolet Spark is a five-seater hatchback with a 5-speed manual transmission and an engine that produces 73/99hp at 6200 rpm and 94/128Nm at 4400rpm.
5. Suzuki Super Carry
Cheapest Annual Car Insurance Premium: PHP 9,546 (2019 Suzuki Super Carry Pick Up Truck 0.8L Gas M/T)
Looking for a value-for-money pick-up truck for your small business? The Suzuki Super Carry pick-up variant may just be the perfect choice.
With this compact hauler in your store’s garage, you can reduce your business operating costs. You can buy one for around PHP 400,000 only, and insuring it will cost you only less than PHP 10,000 every year. This pick-up truck is equipped with a Euro 4 turbodiesel that churns out 32 horsepower and 75Nm of torque.
6. Mitsubishi Lancer
Cheapest Annual Car Insurance Premium: PHP 9,804 (2019 Mitsubishi Lancer GLX 1.6L Gas M/T)
If practicality is what you’re after, then look no further than this Mitsubishi sedan. Mitsubishi Lancer is one of the cheapest cars to insure from the Japanese car manufacturer. It won’t cost you more than PHP 10,000 per year to insure the Lancer, as long as you shop around for good car insurance coverage and compare quotes.
Read more: How Much Does Mitsubishi Car Insurance Cost in the Philippines?
7. Suzuki APV
Cheapest Annual Car Insurance Premium: PHP 10,860 (2019 Suzuki APV GA 1.6L Gas M/T)
Another Suzuki model that’s one of the cheapest cars to insure in the Philippines is the APV. This eight-seater compact multi-purpose vehicle is ideal if you need a family hauler with an affordable price tag (at under PHP 600,000) and car insurance premium (around PHP 10,000 annually).
8. Honda City
Cheapest Annual Car Insurance Premium: PHP 10,957 (2019 Honda City E 1.3L Gas M/T)
Those who want to own a Honda Civic but find it too pricey could opt for its lower-priced, no-frills, and more fuel-efficient brother—the Honda City. This five-seater subcompact sedan is also the Honda model with the cheapest car insurance cost. Keeping the car insurance cost low is its wide array of safety features such as dual airbags, anti-lock braking system, ISOFIX child seat anchors, and three-point seatbelts for all occupants.
9. JAC S1
Cheapest Annual Car Insurance Premium: PHP 11,013 (2019 JAC S1 1.3L Gas M/T)
As the smallest crossover in the world, the JAC S1 bridges the gap between hatchbacks and SUVs. Priced at just around PHP 500,000, this cute mini SUV from Chinese automaker JAC Motors is one of the cars that are cheap for insurance as well, with an annual premium of approximately PHP 11,000.
10. Toyota Wigo
Cheapest Annual Car Insurance Premium: PHP 11,080 (2019 Toyota Wigo E 1.0L Gas M/T)
Toyota is popular for having the most affordable, practical, and reliable cars. Topping the list of the cheapest cars to insure in the Japanese carmaker’s lineup is the beloved hatchback Wigo.
With this four-wheeled buddy, you can keep your car ownership costs low. First of all, you can buy one for as low as PHP 557,000 (for the E 1.0L M/T variant). Insuring a 2019 Toyota Wigo will cost you at least PHP 11,000 per year. When it comes to fuel consumption, it can travel an average of 25 km per liter consumed.
Read more: How Much Does Toyota Car Insurance Cost in the Philippines?
11. Kia Picanto
Cheapest Annual Car Insurance Premium: PHP 12,529 (2019 Kia Picanto SL 1L Gas M/T)
Kia Picanto is one of the lowest-priced and most fuel efficient hatchbacks in the Philippines. But did you know that you can also save a great deal of money when insuring the Picanto? Car insurance prices for the Kia Picanto start at around only PHP 12,000.
12. Mitsubishi L300
Cheapest Annual Car Insurance Premium: PHP 12,547 (2019 Mitsubishi L300 Versa Van 2.5L Diesel M/T)
The L300 van will make a comeback in September 2019—packed with a Euro4 compliant turbo-diesel engine that delivers 40% more power and has 10% higher fuel mileage than its latest iteration. The Mitsubishi L300 will reportedly cost PHP 100,000 higher.
Despite all the changes to this iconic van, one fact remains: it’s still one of the cheapest cars to insure in the Philippines at around PHP 12,000 per year.
13. Suzuki Dzire
Cheapest Annual Car Insurance Premium: PHP 12,578 (2019 Suzuki Dzire GL 1.2L Gas M/T)
Car buyers have several good reasons to consider Suzuki Dzire. First, its GL 1.2 MT variant is the lowest-priced sedan in the Philippines at around PHP 600,000. Its fuel consumption of 28.40 km/L makes it one of the top five fuel efficient cars in the country.
The Dzire is relatively safe to drive, too. The sedan’s body structure absorbs impact when the car hits a pedestrian, minimizing head and leg injuries. Also noteworthy is Suzuki’s Total Effective Control Technology that absorb impact during a car collision, reducing damage to the car and injuries to its occupants.
These innovative safety features make Suzuki Dzire one of the cars that are cheap to insure in the Philippines.
14. Honda Brio
Cheapest Annual Car Insurance Premium: PHP 12,644 (2019 Honda Brio S 1.3L Gas M/T)
Honda’s smallest and most affordable model is also one of the cheapest cars to insure in the Philippines. These features make Honda Brio suitable for the mass market, especially for buyers who just need a simple city car that’s affordable to obtain and maintain.
15. Nissan Almera
Cheapest Annual Car Insurance Premium: PHP 12,891 (2019 Nissan Almera Base 1.2L Gas M/T)
Nissan’s cheapest model (priced at under PHP 700,000) is also the one with the cheapest car insurance price. For less than PHP 13,000 per year, you can get this sedan insured.
The Almera’s safety features—such as the engine immobilizer, smart braking technologies, and anti-lock braking system—help keep its car insurance cost low.
16. Toyota Vios
Cheapest Annual Car Insurance Premium: PHP 12,924 (2019 Toyota Vios J Base Model 1.3L Gas M/T)
The Vios is among Toyota’s perennial top-sellers. While its appeal comes from the model’s affordable price tag and bang-for-the-buck features, not many probably know that the Toyota Vios is also among the cheapest cars to insure in the Philippines.
Contributing to the low car insurance cost for the Vios is its range of safety features. The 2018 year model even earned a five-star rating in the New Car Assessment Program for Southeast Asia (ASEAN NCAP) Crash Test.
17. Honda Brio Amaze
Cheapest Annual Car Insurance Premium: PHP 12,957 (2019 Honda Brio Amaze E 1.3L Gas M/T)
Like its hatchback sibling, the five-seater Honda Brio Amaze sedan is both affordable to own and insure. Sold under PHP 700,000, the E 1.3L MT variant can be insured for as low as almost PHP 13,000 every year.
18. JAC J4
Cheapest Annual Car Insurance Premium: PHP 13,105 (2019 JAC J4 1.5L Gas M/T)
Another JAC model on the list of the cars that are cheap for insurance is the J4, an entry-level subcompact sedan. Even with its affordable car insurance cost and selling price, the JAC J4 doesn’t scrimp on features. Its 1.5-liter engine generates a whopping 111 horsepower and 146 Nm of torque. The European exterior styling exudes elegance and class.
19. Suzuki Ertiga
Cheapest Annual Car Insurance Premium: PHP 13,197 (2019 Suzuki Ertiga GA 1.4L Gas M/T)
Suzuki’s entry-level compact MPV is one of the cheapest cars to insure in the Philippines. Like other Suzuki models, the Ertiga’s body is equipped with the Total Effective Control Technology that effectively absorbs impact during a car accident. The seven-seater vehicle indeed makes for a perfect hauler for the Filipino family.
20. Volkswagen Santana
Cheapest Annual Car Insurance Premium: PHP 13,368 (2019 Volkswagen Santana Trendline 1.4L Gas M/T)
Volkswagen is synonymous with luxury. But it offers a model that makes owning a Volkwagen a lot easier. The Volkswagen Santana, geared towards the mass market, is not only the most affordable model from the German brand but also the one with the cheapest car insurance cost at only around PHP 13,000 every year.
Final Thoughts
The car insurance prices listed here are based on the lowest-priced premiums for 2019 models. Your actual car insurance cost could be higher or lower depending on your driving record, the unit’s year model, and whether your car is brand-new or second-hand, among other factors.
Regardless of the car you buy, you can still save money on car insurance premiums when you shop around for options here at Moneymax. Simply click on the image below to start searching for car insurance coverage for your vehicle at the best prices.
Venus is an experienced personal finance writer with a background in digital marketing, public relations, and journalism. She’s into stock, VUL, and mutual fund investing. Follow Venus on LinkedIn.
