Car Insurance for Smart Cars: Average Premiums by Model

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The small, highly maneuverable Smart Car is beloved by many owners, and although Mercedes has discontinued the Smart ForTwo in the United States, you can still buy a used one. According to Kelley Blue Book, the 2019 Smart ForTwo Prime costs $14,848. Insuring your ForTwo is affordable. According to 2023 rates obtained by Quadrant Information Services, the average annual cost of full coverage insurance for a ForTwo Prime is $1,865. That’s about 7% lower than the national average. Bankrate’s Smart Car Insurance Guide can help you understand how much it costs to insure your Smart Car, as well as the factors that influence your rate decision, so you can choose the best option for your coverage.

How much does it cost to insure a Smart Car?

Bankrate’s insurance editorial team looked at two different styles of the Smart ForTwo to give you a starting point when shopping for car insurance.

Models included in this review:

Smart Fortwo EQ Prime
smart fortwo EQ pure

The average cost of car insurance depends on a variety of factors, the most important of which is the make and model of your car. Some of the Smart Forwo car-specific factors that can affect your premium include:

Crash Rate Statistics by Make/Model: The Smart ForTwo has received a “basic” to “good” rating from the Insurance Institute for Highway Safety. It’s fairly safe, but its size means it may not offer as much protection as a larger vehicle in a crash. Previous models of the Smart ForTwo received a four-star safety rating from the National Highway Traffic Safety Administration, but the latest model has not received one.
Parts price: Repair costs for the Smart ForTwo are higher than average, with an average annual cost of $751. The cost of parts and the limited number of mechanics familiar with this model may contribute to the high cost of insurance for the Smart ForTwo.
Safety Features: The smart fortwo is packed with numerous safety features, including the Tridion Safety Shell, a hemispherical steel cage that surrounds the vehicle, as well as side and knee airbags, anti-lock brakes and smart seatbelts that can detect changes in movement.

Smart Car Model-Specific Auto Insurance

Auto insurance rates for smart cars depend on a variety of factors. The year, value, and model of your vehicle will affect your premiums, as will where you live, your driving record, and your average mileage. Bankrate has compiled quote data to provide you with average costs of auto insurance for small cars that you can use for comparison. To get a more accurate rate based on your personal situation, you can get and compare quotes online from several auto insurance companies.

Car insurance for the Smart Fortwo EQ Prime

The Prime is the top-of-the-line model of the smart fortwo. At the time of production, it was also available with the Sport or BRABUS Sport packages. This model is a good value, so insurance premiums are likely to be slightly higher than for lower grades.

Minimum compensation	$571
Full Coverage	$1,865

Car insurance for the Smart Fortwo EQ Pure

The Fortwo EQ Pure is the most affordable entry-level trim, with full coverage costing just slightly less than the Prime model.

Minimum compensation	$573
Full Coverage	$1,792

Cheapest car insurance companies for smart cars

Choosing the right insurer will make the biggest difference in the cost of auto insurance for your smart car, and Bankrate has collected quote data from the five auto insurers with the largest market share to show how rates vary from one insurer to another.

Average annual premium for full coverage by model

Prime and Pure car insurance rates are roughly the same, however premiums can vary widely between car insurers for the same level of coverage.

friend	$1,423	$1,330
Ellie	$1,031	$1,056
Geico	$1,105	$1,056
State Farm	$1,856	$1,747
America	$1,160	$1,117

Smart Car Features That Affect Insurance Premiums

Some smart car features can lower your insurance premiums, and safety features in particular may be the most important factor in keeping your premiums affordable. The safety features on the smart fortwo are designed in a hierarchy to protect passengers and the driver.

Tridion Steel Cage: The smart fortwo’s outer safety shell makes up for the vehicle’s small size, which can make it vulnerable in a collision with a larger vehicle such as an SUV: hard, crush-resistant steel helps protect the driver and passengers in the event of a crash.
Airbags: The Smart Fortwos is equipped with dual front, side and knee airbags which work together to reduce the risk of serious injury in the event of a serious collision.
Smart Seatbelt: The seat belts are motion-sensing, adapting before a crash occurs and restraining the driver and passengers just before impact.

Smart Car Other Auto Insurance

Nearly every state requires drivers to carry a minimum amount of vehicle insurance. However, your state’s minimum insurance may not be enough. You’ll likely need liability insurance to drive legally. However, liability insurance only covers damage you cause to other vehicles or property, or injuries you cause to people who are not in your vehicle. If your car is damaged, liability insurance doesn’t cover the cost of repairing or replacing it. The following optional coverage types give you more protection:

Comprehensive and collision insurance: These two coverage options combine to provide complete coverage, providing coverage up to the policy limits for damage to your vehicle after a claim has been approved due to causes such as collision, theft, fire, flood, hail damage, and vandalism.
Paying medical expenses: Adding medical payments coverage can help pay for medical expenses for you and your passengers in the event of an accident, regardless of who was at fault.
Original Equipment Manufacturer (OEM): This add-on ensures that repairs are carried out using original manufacturer parts.

How to Save on Auto Insurance for a Smart Car

Smart car insurance is usually more affordable than standard car insurance, but there are ways you can save money, including shopping around for cheap smart car insurance. Here are three ways to cut your premiums:

Compare quotes: The best way to find affordable smart car insurance is to get quotes from multiple insurers to find the coverage that best suits your desired level of coverage and your budget.
Take advantage of discounts: You can get a range of insurance discounts for smart cars, including safety feature discounts, and you can also save money by bundling multiple policies together and taking advantage of billing options like autopay.
Consider usage-based insurance: Some insurance companies offer policies that base premiums on actual driving behavior, potentially resulting in lower costs for safe drivers or those who don’t use their cars often.

FAQ

Methodology

Bankrate uses Quadrant Information Services to analyze 2023 rates for zip codes and insurers in all 50 states and Washington, D.C. Rates are weighted based on population density in each area. Estimated rates are based on a 40-year-old male and female driver with an accident-free record, good credit, and the following full coverage limits:

$100,000 bodily injury liability per person
Bodily injury liability of $300,000 per accident
Property damage liability of $50,000 per accident
$100,000 per person in bodily injury claims caused by uninsured motorists
Uninsured motorist bodily injury compensation of $300,000 per accident
$500 collision deductible
$500 comprehensive deductible

To determine the minimum coverage limits, Bankrate used the lowest coverage amount that met each state’s requirements: Our base profile driver owns a 2019 Smart car of the following model type, commutes to work five days a week, and drives 12,000 miles per year.