How do premiums compare for Canada’s top ten SUVs?

Back of a Hyundai SUV at sunset.
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Lots of Canadians are in the market for a new SUV, and may not have decided quite yet which one to buy. We ran quotes for each of Canada’s top ten selling SUVs and crossovers. The evidence is pretty compelling. The Jeep Wrangler is the most affordable on the list to insure, while the Toyota Highlander is the most costly. For the average Ontarian, the Highlander will cost about 56% more in premiums than the Wrangler.

SUVs are Canadians’ favourite ride, accounting for just about half of all new vehicle sales in 2020. But unlike pickups, where the top four selling models account for 80% of total sales, the SUV and crossover market is extremely competitive, with only the Toyota RAV4 capturing more than 7% of the total market.

Lots of choice is great, but it also means myriad factors to consider. So here’s a little more info to add to your checklist. If you want to know how the most popular SUV models compare in terms of insurance costs, we did the work for you. Here’s some of what we found out:

  • The Jeep Wrangler is easily the cheapest SUV to insure, although it is the third most expensive vehicle on the list.
  • The Toyota Highlander is by far the most expensive SUV to insure, but is also the second most expensive on the list.
  • Average premiums can vary by 56% depending on which SUV you drive.
  • Premiums can vary by as much as 75% for the some drivers.
  • The price of the SUV does seem to affect the premium, but is certainly not the only factor.

Comparative quotes

In order to ensure that the findings aren’t specific to a particular region or individual, we used our quoting system to run quotes for each of the vehicles on the list, with different types of drivers.

  1. Reyna, 33, common-law female, 1 minor at-fault claim in 2019, Hamilton (L8P)
  2. Reese, 44, single female, 3 speeding tickets more than 10 years ago, Gravenhurst (P1P)
  3. Olivier, 51, common-law trans male, 1 speeding ticket in 2020, London (N6G)
  4. Theeran, 19, single male, clean record with driver training, Maple (L6A)

The sample drivers above represent different ages, genders, marital statuses, driving records and postal codes.

The SUVs quoted below have MSRPs (the base price) between $23,000 and $55,000. We list the price because it affects premiums for collision and comprehensive coverage.

To make sure we’re comparing apples to apples, all the quotes below assume the following:

  • All the drivers were licensed at age 16
  • All the drivers have a 10 km commute (one way) to work
  • All the drivers expect to put about 10,000 km a year on their vehicles
  • All of the vehicles are equipped with winter tires during the winter months
  • None of the drivers was quoted with a multi-line or multi-vehicle discount
  • Coverage details:
    • $1 million third party liability limit
    • $1,500 coverage limit for a rental car while your car is being fixed after an accident (called loss of use coverage)
    • $1,000 deductible for collision/comprehensive claims
    • Zero deductible for direct compensation claims (meaning another driver is at fault for damage to your vehicle)
    • Waiver of depreciation included where available (vehicle insured for the dollar value you originally paid)
    • Accident forgiveness included where available (typically not available for drivers with recent claims)
    • $50,000 coverage for damage to unowned vehicle (rental, loaner, etc.)
    • Family protection endorsement included where available. This covers you if you or your family are injured by an at-fault driver with no insurance.
Premiums for top ten SUVs
 2022 Q1 sales1MSRPReyna’s priceReese’s priceOlivier’s priceTheeran’s priceAvg price
Jeep Wrangler (Wrangler Sport 4WD)6,642$40,889$2,267$766$793$4,336$2,040.50
Hyundai Kona (Kona Essential 4DR 2WD)5,363$23,099$2,829$883$909$4,366$2,246.75
Nissan Qashqai (Qashqai S 4DR 2WD)5,169$26,038$2,911$906$931$4,415$2,290.75
Nissan Rogue (2020 Rogue S 4DR 2WD)4,648$30,448$2,965$1,018$1,043$5,102$2,532.00
Hyundai Tucson (Tucson Essential 4DR 2WD)4,449$29,084$3,157$1,005$1,027$5,387$2,644.00
Honda CR-V (CR-V LX 4DR 2WD)7,828$32,309$3,193$1,004$1,025$5,519$2,685.25
Toyota RAV4 (2020 RAV4 LE 4DR 2WD)9,899$30,293$3,268$1,042$1,063$5,611$2,746.00
Mazda CX-5 (CX-5 GX 4DR AWD)5,442$31,710$3,310$1,041$1,056$5,807$2,803.50
Jeep Grand Cherokee (Grand Cherokee Laredo 4DR 4WD)4,979$54,122$3,287$1,078$1,088$6,083$2,884.00
Toyota Highlander (Highlander LE V6 4DR AWD)4,448$46,715$3,933$1,225$1,223$6,404$3,196.25

SUVs, insurance rates, and your safety

Every year in the U.S., the Insurance Institute for Highway Safety (IIHS) tests all new cars on the market, and assigns the title of “Top Safety Pick” or “Top Safety Pick+” to those that perform the best. In 2022, of the ten SUVs featured in this article, the RAV4 and CR-V were designated Top Safety Picks, and the Tucson, CX-5 and Rogue got the plus designation. These safety ratings have no clear link to insurance premiums.

We know that, generally speaking, the number one factor that influences insurance rates for a vehicle is a past history of injuries and deaths in collisions. Although we would never debate the results of a highly reputable organization like the IIHS, if your family’s safety is top of mind, you should also take insurance rates into consideration as a predictor of how well your car will protect you in an accident.

Can’t decide? We can help

In the end, the only way to know exactly how much you’re going to pay for insurance is to get a quote based on your location, age, gender, driving record, etc. If you can’t decide between different models, we’d be happy to give you personalized, no-obligation quotes on two, three, even five SUVs you might be considering. Because we work with more insurance companies than just about any broker, you can feel confident that whichever vehicle you choose, you’ll get a great rate, and better yet, if you decide to join the Mitch family, you’ll get our all-star service, lots of options if your rate goes up next year, and a strong advocate in your corner if you ever make a claim.

It all starts with a simple phone call…



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