Cars with the Cheapest Insurance: The Best Rates This 2023

Affordability is a crucial factor that influences a car purchase decision. When buying a vehicle, one of the first things to know is how much it will cost to own a particular model.

However, 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.

Fortunately, a lot of options are available in the market for cars with the cheapest insurance. Most of them happen to be cars with affordable price tags, 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 this list of cars with the cheapest insurance in the Philippines. For your easy reference, this guide has two sections. The first section is for entry-level sedans and hatchbacks while the second lists luxury vehicles.

21 Cars with the Cheapest Insurance in the Philippines in 2023

1. Tata Vista Ini

💰 Cost of insurance per year: ₱6,318 (1.4L Gas M/T)

If you’re looking for a non-mainstream hatchback, you may want to check out the Tata Vista Ini. Its simple and conservative look is what actually makes it stylish. While small, it can seat up to five persons, making it an ideal family car for budget-conscious buyers. Nevertheless, it’s also a good option for urban dwellers since its size is perfect for city driving.

The Tata Vista Ini is packed with safety and security features, such as airbags for the driver and the front passenger, an anti-lock brake system, an immobilizer, and electronic door locks.

Should you consider the Tata Vista Ini as your first car, you’ll be glad to know that it’s one of the cheapest cars to insure at around ₱6,300 (approximately ₱520+ per month).

2. Suzuki S-PRESSO

💰 Cost of insurance per year: ₱10,685 (GL 1.0L M/T)

Whether you’re a yuppie or someone who has a small family, the  S-PRESSO may tickle your fancy. This tiny auto is packed with features that make for a decent driving experience. Primarily, its handling and performance are attributed to its lightweight frame and sufficient engine power.

Aesthetically speaking, the S-PRESSO is in a league of its own. Its shape is definitely a departure from the usual streamlined and curvy bodies of popular hatchbacks. Instead, it features a boxy appearance, making it a unique sight on the road. As for safety and security, the S-PRESSO has airbags for the driver and the front passenger, anti-lock brake system, electronic brake distribution, and ISOFIX.

Since the S-PRESSO has a reasonable price tag, expect that its insurance is valued that way, too. The cheapest car insurance for this is around ₱10,680 per year or approximately ₱890 per month.

3. JAC S1 

💰 Cost of insurance per year: ₱11,013 (1.3L Gas M/T)

Considered one of the smallest crossovers in the world, the JAC S1 bridges the gap between hatchbacks and SUVs. Priced at almost ₱600,000, this cute mini SUV from Chinese automaker JAC Motors is one of the cheapest cars to insure, with a monthly premium of approximately ₱925.

As expected of a crossover, the S1 delivers a decent power output of 99 hp and a maximum torque of 126 Nm. It’s also loaded with security features, which include the following: airbags for the driver and the front passenger, an anti-lock brake system, an immobilizer, a security alarm, electronic door locks, speed-sensing door locks, and ISOFIX. These features elevate the S1 above its class. 

4. Toyota Wigo

💰 Cost of insurance per year: ₱11,426 (E 1.0L Gas M/T)

Toyota is popular for producing the most affordable, practical, and reliable cars. With this four-wheeled buddy, you can keep your car ownership costs low. First of all, you can buy one for as low as ₱573,000 (for the E 1.0L M/T variant). Secondly, as one of the cars with the cheapest insurance, you’ll need to shell out only ₱11,426 per year or around ₱950 monthly.

Appearance-wise, the Wigo falls under the category of cute cars, thanks to its youthful aesthetics. But don’t let its size deceive you, as it can actually seat up to five people, making it a good car option for families.

Whether you’re driving the Wigo around the city or giving it a spin on country roads, you’ll always feel safe and secure in this car, as it is equipped with an anti-brake system, driver and front passenger airbags, and electronic door locks.

5. Honda Brio

💰 Cost of insurance per year: ₱11,969 (S 1.2L 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.

The Honda Brio’s upper trim is loaded with safety and security features, some of which are not present in other entry-level hatchbacks. These include the following: anti-lock brake system, driver and front passenger airbags, security alarm, electronic door locks, speed-sensing door locks, and ISOFIX.

6. Suzuki APV

💰 Cost of insurance per year: ₱12,021 (GA 1.6L Gas M/T)

Another Suzuki model that's one of the cars with the cheapest insurance in the Philippines is the APV. This eight-seater compact multi-purpose vehicle (MPV) is ideal if you need a family hauler with a reasonable price tag. Its affordability also extends to insurance. You’ll only need to pay ₱1,001 for this car that’s cheap to insure.

The car’s large interior makes it ideal for business, especially if you’re delivering goods or ferrying paying passengers. The APV can also weather the challenges of the road, thanks to its engine’s power output of 91 hp and torque of 127 Nm.

Read more: List of Car Insurance Add-Ons: What Coverage Do You Need?

7. Suzuki Dzire

💰 Cost of insurance per year: ₱12,101 (GA 1.2L Gas M/T)

Car buyers have several good reasons to consider Suzuki Dzire. First, its 1.2 GA MT model is one of the lowest-priced sedans in the Philippines with a price tag of a little over ₱600,000. It also scores high in fuel efficiency, which means big savings in the long run.

The Dzire is relatively safe to drive, too. That’s because Suzuki's Total Effective Control Technology is integrated into the car’s body.^[1] Through it, the Dzire absorbs impact during a car collision, reducing damage to the car and injuries to its occupants.

To complement such a remarkable safety system, this car is also equipped with an anti-lock brake system, driver and front passenger airbags, and an immobilizer.

8. MG 5

💰 Cost of insurance per year: ₱12,924 (Core 1.5L Gas M/T)

A sedan with high-end aesthetics at around ₱650,000? You’re actually looking at the MG 5. But the MG 5 is more than just its sporty exterior. Inside, you’ll be treated to a stylish and ergonomic interior with leather seats. Smartphone integration is quick and seamless for Android Auto and Apple CarPlay.

When it comes to performance, the MG 5 offers easy handling. Both experienced and new drivers can effortlessly maneuver around sharp corners. The MG 5, even its lower trims, is generously outfitted with safety features, such as the following: airbags for the driver and the passenger, electronic brake distribution, anti-lock brake system, immobilizer, security alarm, and electronic door locks.

Owning an MG 5 also means covering lower insurance costs. You’ll need to shell out only less than ₱13,000 per year (equivalent to ₱1,077 per month) to insure it.

9. JAC S2

💰 Cost of insurance per year: ₱13,075 (VVT 1.5L Gas M/T)

SUVs tend to be expensive, but who says you can’t find a high-quality one at a reasonable price? If you’re planning to buy your first SUV, the JAC S2 should be it. A lot of proud and satisfied owners swear by its style, its versatility, and its performance, thanks to its engine that fires 111 hp of power and 146 Nm of torque.

The JAC S2’s safety features include an anti-lock brake system, driver and front passenger airbags, electronic brake distribution, anti-lock brake system, immobilizer, security alarm, electronic door locks, speed-sensing door locks, stability control, and ISOFIX. This car’s loaded with such features, but it’s still one of the cars with the cheapest insurance with an annual insurance cost pegged at ₱13,075. It’s a small price to pay for an SUV.

10. JAC J4

💰 Cost of insurance per year: ₱13,105 (VVT 1.5L Gas M/T)

Another JAC model on the list of cars with the cheapest 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, on the other hand, exudes elegance and class.

When it comes to safety features, the JAC J4 has the following: driver and passenger airbags, electronic brake distribution, immobilizer, security alarm, electronic door locks, rear parking sensors, and speed-sensing door locks.

11. Volkswagen Santana

💰 Cost of insurance per year: ₱13,368 (MPI 1.4L Gas M/T)

Volkswagen is synonymous with luxury. But owning one is actually a lot easier than you think. The Volkswagen Santana, geared towards the mass market, is not only the most affordable model from the German brand but also one of the cheapest cars to insure. You’ll only need to pay around ₱13,360 per year or a little over ₱1,110 per month.

Because German cars have a reputation for accurate design and engineering, expect your Volkswagen Santana to come loaded with detailed safety features. These include driver and passenger airbags, an anti-brake system, electronic door locks, and an immobilizer.

12. Kia Picanto

💰 Cost of insurance per year: ₱13,599 (EX 1.2L 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 it? The cheapest car insurance price for the Picanto is almost ₱13,600 per year or approximately ₱1,130 per month.

This tiny car is big on safety features, a few of which aren’t even found in entry-level hatchbacks. It has airbags for the driver and the passenger, an anti-lock brake system, an immobilizer, a security alarm, electronic door locks, speed-sensing door locks, and ISOFIX.

Read more: How to Get Car Insurance for Second-Hand Vehicles

13. Toyota Vios

💰 Cost of insurance per year: ₱13,714 (J 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 sedans 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.

The 2022 model continues to live up to that prestige. Higher-end trims boast the following safety and security features: airbags for the driver and passenger, side airbags, curtain airbags, a knee airbag, electronic brake distribution, immobilizer, security alarm, stability control, electronic door locks, and speed-sensing door locks, among others.

14. Suzuki Celerio

💰 Cost of insurance per year: ₱13,730 (GL 1.0L Gas M/T)

Despite being an affordable car, the Suzuki Celerio is packed with impressive features such as a fuel-efficient engine. The brand itself claims the car’s fuel economy is at 26.68km/L.

As for safety features, the Suzuki Celerio has an anti-lock brake system, airbags for the driver and the front passenger, an anti-lock brake system, an immobilizer, stability control, ISOFIX, and rear parking sensors. All these make the Celerio a cheap car to insure, requiring only ₱13,730 per year.

15. Suzuki Ertiga

💰 Cost of insurance per year: ₱13,732 (GA 1.4L Gas M/T-Upgraded)

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.

The upgraded version of the Ertiga’s base variant is pretty powerful. It can churn out a power of 103 hp and torque of 138 Nm. Handling-wise, the newest version has improved, making it a relatively easy drive on both city roads and rugged highways.

When it comes to safety, the Ertiga has the following features: driver and passenger airbags, electronic brake distribution, immobilizer, electronic door locks, and ISOFIX.

16. Kia Stonic

💰 Cost of insurance per year: ₱13,762 (LX 1.4L Gas M/T)

Launched in the Philippines in 2020,[2] the Kia Stonic captured the attention of car lovers and would-be owners alike because of its edgy look and promising mechanical features. This beautiful machine can seat up to five people, making it an ideal car for families. It can churn out power pegged from 94 hp at 6,000 rpm to 98 hp at 6,000 rpm.

The higher trims of Kia Stonic are equipped with the following: driver and front passenger airbags, electronic brake distribution, anti-lock brake system, immobilizer, electronic door locks, speed-sensing door locks, ISOFIX, and keyless entry. But other than those features, what makes the Stonic more impressive is the fact that it’s one of the cars with the cheapest insurance, which is ₱13,762 per year or ₱1,146 per month. Not bad for a crossover!

17. Nissan Almera

💰 Cost of insurance per year: ₱14,059 (EL Turbo 1.0L Gas M/T)

Nissan's cheapest model (priced at under ₱800,000) is also one of the cars with the cheapest insurance price. For around ₱14,000 per year, you can get this sedan insured.

With its streamlined, athletic, and modern design, the Almera is easily a head-turner. Its interior is also roomy and can seat up to five people. The Almera's safety features—such as airbags for the driver and the front passenger, immobilizer, smart braking technologies, electronic door locks, ISOFXI, and anti-lock brake system—help keep its car insurance cost low.

18. Mitsubishi Mirage G4

💰 Cost of insurance per year: ₱14,734 (GLX 1.2L Gas M/T)

If practicality is what you're after, then look no further than this Mitsubishi subcompact sedan. Mitsubishi Mirage G4 is one of the cheapest sedans to insure from the Japanese car manufacturer. It won't cost you more than ₱15,000 per year to insure your Mirage G4, as long as you shop around for good car insurance coverage and compare quotes.

Each Mitsubishi Mirage G4 is outfitted with safety features, such as the following: driver and front passenger airbags, immobilizer, electronic door locks, and ISOFIX.

19. Kia Soluto

💰 Cost of insurance per year: ₱14,998 (EX 1.4 Gas M/T)

The Soluto is Kia’s bet against some of the most popular sedans in the country, such as the Vios from Toyota and the City from Honda. For its category, Soluto proves to be a formidable competitor with its technology features. Inside, you’ll find a 7-inch touchscreen AM/FM radio, MP3, and USB port. It’s also ready for mobile device integration through Apple CarPlay or Android Auto.

When it comes to safety and security, Kia is notably generous. Its features include airbags for the driver and the front passenger, an anti-lock brake system, an immobilizer, an electronic door lock, ISOFIX, and rear parking sensors.

20. Suzuki Swift

💰 Cost of insurance per year: ₱15,969 (GL 1.2L Gas CVT)

A lot of hatchbacks are often thought of as basic vehicles that lack character. Those who say so might have not seen the Suzuki Swift yet. It’s one of the most beloved hatchbacks in the country, thanks to its recognizable body and reliable engine.

The Suzuki Swift can take on city driving and even country trips, as its 1.2L engine is pretty powerful and the suspension is firm. Its safety features also make it one of the cars with the cheapest insurance in the Philippines at almost ₱16,000 per year. The Suzuki Swift is equipped with the following: driver and passenger airbags, immobilizer, security alarm, electronic brake distribution, anti-lock brake system, and ISOFIX.

21. Honda City

💰 Cost of insurance per year: ₱16,874 (S 1.5L Gas A/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 one of the cheapest sedans to insure.

Despite the low insurance cost, it offers a wide array of safety features, such as driver and front passenger airbags, side airbags, electronic brake distribution, and an anti-lock brake system. It’s also outfitted with a security alarm, electronic door locks, speed-sensing door locks, stability control, and ISOFIX.

3 Luxury Cars with the Cheapest Insurance in the Philippines in 2023

1. Toyota FJ Cruiser

💰 Cost of insurance per year: ₱34,614 (4.0L Gas A/T)

If you’re the type of driver who conquers the weekends by venturing into rugged terrains or navigating uncharted territories, the Toyota FJ Cruiser is for you. Nevertheless, this off-road vehicle offers a commendable driving experience even in the city.

Because the FJ Cruiser is designed for rough driving, you’ll get the safety features expected from a vehicle of this type. These include driver and passenger airbags, an anti-lock brake system, child safety locks, rear seat belts, seat belt warning, a crash sensor, and a rear camera.

If you’re driving during a very bright morning or at night when headlights flood your car, the day and night rearview mirror can help you easily deal with the glare. The car is also equipped with front and side impact beams, traction control, and an engine check warning.

2. Chevrolet Camaro

💰 Cost of insurance per year: ₱56,396 (3LT RS 2.0L Gas A/T)

Whether you’re a fan of Transformers’ Bumblebee[3] or you just want a car you can flex on the road, you and the Chevrolet Camaro are obviously a match made in heaven. As expected from a luxury car, the Camaro has a range of impressive qualities, ranging from its power of 275 hp to its high-tech voice control feature.

When it comes to safety, the Camaro ticks off all that you look for in a car. This four-seater sports car has the following: driver and front passenger airbags, side airbag, anti-lock brake system, brake assist, rear seat belts, seat belt warning, height-adjustable front seat belts, rear camera, day and night rearview mirror, crash sensor, and parking sensors.

Additionally, the Camaro boasts front and side impact beams, door ajar warning, tire pressure monitor, and engine check warning.

3. Lexus ES

💰 Cost of insurance per year: ₱67,484 (ES 300h 2.5L Hybrid CVT)

The Lexus ES is not just a thing of beauty and luxury. You can also consider it the epitome of power. Don’t let its elegant aesthetics fool you because underneath it all, it boasts an engine that can fire up to 215 hp of power and 221 Nm of torque.

The smooth driving experience it offers is complemented by top-notch safety. The Lexus ES is complete with safety features, such as an anti-lock brake system, airbags for the driver and front seat passenger, side airbags, security alarm, stability control, electronic door locks, and speed-sensing door locks, among others.

Where to Find the Cheapest Car Insurance?

Finding cars with the cheapest insurance can be a challenge, but it doesn’t have to stay that way. Here at Moneymax, you can find the best deals on car insurance by using our comparison tool.

f you find the package or insurance company that’s right for you, you can apply right away through our platform. We also offer end-to-end auto insurance services to streamline the whole process and help you save time!

Read more: Where Should You Get Your Car Insurance: Bank, Dealer, or Broker?

Final Thoughts

The cheapest car insurance prices listed here are based on the lowest-priced premiums for 2022 models. Your actual car insurance cost could be higher or lower depending on the unit's year model and whether your car is brand-new or second-hand, among other factors.

Regardless of the cost, insuring your car is a must, as it shields you and your passengers from the uncertainties of the road. After all, your peace of mind will always be priceless.

Sources:

• ^[1] Suzuki Dzire Product Specifications
• ^[2] Kia Stonic/KX1 Due Out in Philippines in October (Forma Car News, 2021)
• ^[3] Four Bumblebee Chevrolet Camaros Sell For $500,000 at Barrett-Jackson Auction (The Drive, 2019)