Mitsubishi Car Insurance Rates

Mitsubishi car insurance rates are $117/mo on average in the U.S. Mitsubishi Motors has improved its once questionable reputation in recent years, and car insurance rates for Mitsubishi vary.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: May 26, 2021

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Here's what you need to know...

  • Mitsubishi has a long history
  • They are attempting to reinvent themselves following a few years of questionable reputation
  • Comparing premiums for auto insurance is necessary to find the best deal

Mitsubishi Motors is making an effort with new and remodeled vehicles for 2014. The offerings for 2014 are varied and appeal to individuals who desire a great deal for a new car.

No matter what type of car your drive, be sure to have complete auto insurance coverage. You can compare quotes for FREE with our ZIP code search tool located at the top of this page.

Mitsubishi has the following for 2014:

  • Lancer $17,195 MSRP 26/34 mpg Holds 5 people
  • Lancer Sportback $18,595 MSRP 24/32 mpg Holds 5 people
  • Lancer Evolution $34,995 MSRP 17/23 mpg Holds 5 people
  • Mirage $12,995 MSRP 37/44 mpg Holds 5 people
  • Outlander Sport Crossover $19,470 24/31 mpg Holds 5 people
  • Outlander Crossover $22,995 MSEP 24/31 mpg Holds 7 people

Since 1917, Mitsubishi has produced automobiles for the Japanese market. They produced the Model A that year as Japan’s first production car.

In 1970, Mitsubishi Motors was formed as a company of its own, apart from the original corporation. In 1971, Chrysler purchased a 15% portion of the company and produced the Colt under the Dodge brand.

In 1982, Mitsubishi sold cars in the United States under the Mitsubishi Motors name. The Eclipse sports coupe became popular in the ’90s.

Mitsubishi’s relationship with Chrysler was ended in 2003 due to financial problems. A series of debacles in the ’90s and early 2000s led to financial setbacks. Mitsubishi covered up several design flaws that resulted in massive recalls.

Mitsubishi sponsored a unique financing plan that proved disastrous.

They offered zero percent financing, with zero percent down, and no payments due for a year. This enticed buyers whose financial ratings were less than stellar.

Subsequently, many vehicles were returned to the manufacturer in poor condition and with no money paid for the wear and tear on the vehicles.

Mitsubishi’s Rebirth

Mitsubishi is attempting to reinvent their reputation in the United States market by producing reliable vehicles at an inexpensive price. The Mirage, a re-invention of an old model, appeals to individuals who want high gas mileage along with economy.

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Reviews of the New Mitsubishi Presentations

Consumer Reports stated that the new Lancer Evolution is an appealing sports sedan.

Acceleration goes from 0 to 60 mph in five seconds. Interior comfort, however, is not as much as might be desired. The vehicle has been compared to a sports car in how it rides rather than a sports sedan.

Mitsubishi Car Insurance

Insurance cost depends more on the drivers and their lifestyle than the vehicle being insured, with some exceptions.

Obtaining quotations from at least two separate insurance companies will help you get an idea of costs for insurance. Insurance companies determine rates by using the statistics they’ve collected on losses.

Insuring a Mitsubishi – Limits of Liability

Each state requires certain limits of liability to legally drive in that particular state. This is intended to serve as a protection to the driving public so there is protection for people in the event of an accident.

The following limits of liability are suggested to protect you and your assets:

  • $100,000 per person/$300,000 per accident – Bodily Injury Coverage – This provides liability for bodily injury to protect you in the event of an accident for which you are legally liable.
  • $50,000 per accident – Property Damage Coverage – This provides liability for property damage to others to protect you if you are legally liable for an accident.
  • $5,000 Medical Payments Coverage – Provides incidental medical coverage for you and your passengers if you’re involved in an accident.
  • $100,000 per person/$300,000 per accident – Uninsured Motorists Coverage for Bodily Injury for you or your passengers. This protects you if you are involved in an accident with someone who has no insurance.
  • Comprehensive CoveragePays for theft, vandalism, glass damage, animal damage, or weather damage to your own car. A $500 deductible is usual.
  • Collision Coverage – Pays for collision damage to your own car if you run into something or if another person runs into your car. A $500 deductible is usual for this also.
  • $50,000 per accident – Uninsured Motorists Coverage for damage to your car if you’re involved in an accident with someone who has no insurance. This coverage is ordinarily purchased only if you do not have comprehensive or collision coverage on your own car.

States ordinarily require less coverage than this to be legal. For example, the State of Colorado requires the following liability coverage:

  • $25,000 per person for bodily injury
  • $50,000 per accident for bodily injury
  • $15,000 per accident for property damage
  • $ 5,000 per accident for medical payments coverage

Strangely enough, occasionally lower limits of liability coverage can cost you more than the high limits of liability. One reason for this is that fewer discounts are offered for the lower limits.

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Information Needed for an Insurance Quote

  • Driver’s license number and record for all drivers
  • Dates of birth for all drivers – Social Security numbers
  • Make, model, and VIN Number for all cars you drive

Car Insurance Rates for a 2014 Mitsubishi Lancer GMS Sedan

The designated insureds are about 33 years old, married, no youthful drivers. They are purchasing their own home and commute to work. Neither driver has violations or accidents in their past.

Insurance Company #1 – $1,052.00 for six months.

Insurance Company #2 – $1,404.00 for six months.

Just to compare and illustrate. If you change the limits of liability to fit the Colorado basic limits, leave the comprehensive and collision coverage as is, with the $500 deductible for both, you would pay these premiums:

Insurance Company #1 – $1,230.00 for six months

Insurance Company #2 – $1,530.00 for six months

Comparison Shopping for Car Insurance

Circumstances can affect the costs of your car insurance.

It is best to check the premiums you pay for car insurance at least once a year to make certain that you are getting the best deal on insurance.

Carefully examine coverages and research the insurance you have. A reduction in your premiums may be available if you carry your homeowner’s insurance with the same company with which you carry your car insurance.

Be an intelligent consumer and do your research.

Be sure to compare auto insurance quotes before making any final decisions. Enter your ZIP code into the FREE tool located below to get started.

Free Car Insurance Comparison

Enter your ZIP code below to view companies that have cheap car insurance rates.

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