Is it cheaper to insure a Mazda CX5 or Toyota Rav4?

UPDATED: Sep 27, 2015

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Asked September 27, 2015

1 Answer

As you begin to price the cost of the Rav4 and the CX5, you will find that walking out the door as the owner of a Rav4 will cost you more initially. Since the average cash price of the Rav4 is just over $2,000 higher than the cash price of the CX5, it is easy to assume that the Rav4 will ultimately cost more to insure. While this is a fair assumption to make, it is not an accurate one. Auto insurance premiums are based on more than just sales price or MSRP. To discover which premiums are cheaper, you will need to compare the trust costs of ownership, safety ratings and repair costs.

True Costs of Ownership: Rav4 vs. CX5

Owning a car can be expensive even when you pay cash for the sales price. One way to determine which SUV is the smarter purchase is to assess the 5-year True Cost to Own that is calculated by using data collected by Edmunds. According to the industry data reported, the 5-year cost to own a Rav4 is $42,528. The breakdown includes estimates for depreciation, taxes, titling fees, financing, fuel, tax credits, repairs, maintenance and recurring insurance premiums.

Compared to the $43,066 that it costs to own the Mazda CX5, you might think that the CX5 costs less to insure. While the overall ownership costs for the Rav4 are just over $500 more, the Rav4 actually costs less to insure. According to the 5-year breakdown, it costs just $2,130 to insure the Rav4 during the first year of ownership. This is significantly lower than the $2,349 price tag for annual premiums on the CX5. Over the entire span of 5 years, it costs an astounding $1,173 dollars more to insure the CX5 with the same levels of coverage.

What Drives Your Rates Up When You Drive the CX5?

It is only fair to wonder why a vehicle that has a lower price tag costs more to insure. While vehicle price can be indirectly taken into account, insurers are more concerned with safety ratings and repair costs than the value of the car itself. This is why it can help to learn about safety ratings and average repair costs as you are doing a thorough car comparison. Safety ratings will have an affect on liability premiums and repair costs will impact physical damage premiums.

According to safety tests administered by the NHTSA, the Mazda CX5 earned a 5-star rating in frontal and side crash performance and a 4-star rating in rollover tests. The Rav4 was granted a 4-star rating in frontal crash tests and rollover tests and a 5-star rating in side crash tests. This data impacts the Rav4 premiums for Bodily Injury and Medical Payments cover and you may notice that these categories have higher charges.

Where the CX5 becomes expensive to insure is in the physical damage category. If you carry comprehensive and collision, you will notice that the premiums in this area of your insurance quote will be much higher for a CX5. The primary reason for this is because parts and labor costs more for the Mazda model and this puts more of a burden on the insurer if your vehicle is even damaged due to a covered loss.

Answered October 1, 2015 by AutoGuy

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