Car value is one of the things providers assess when pricing up your car insurance quote, and is tied to which car insurance group a vehicle falls into. Broadly speaking, the cheaper or more common your car is, the less it will cost to repair or replace, and therefore the lower your premium will be.
However, a cheap car isn’t a guarantee of cheap car insurance, as there are a number of other factors insurers take into consideration, such as age and location, before giving you a quote.