Most Expensive Cars To Insure (New Cars). The kind of vehicle you drive will be one of the variables taken into account by your insurance company when determining your premiums. Here is the list of expensive cars you need to know.
Introduction
The kind of vehicle you drive will be one of the variables taken into account by your insurance company when determining your premiums. To save money on vehicle insurance, research the most costly models before making a purchase. Insurance for a fancy vehicle may be prohibitively expensive even if you can afford the monthly payments. When buying a new car, it’s important to take auto insurance prices into account. After all, insurance is the average American’s fourth-largest expenditure.
Car insurance rates for a new luxury model or an expensive sports car may run into hundreds of dollars per year, even if you can afford the monthly payments on the vehicle. Expensive and rising vehicles are more expensive to insure. While buying a new vehicle, consider insurance cost implications when taking into account factors such as a driver’s age, driving record, including any fines or accidents, credit score, and even state-specific laws.
The yearly insurance rates for your selected vehicle may be very costly depending on the brand and model.
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Why do you need car insurance?
As a result, insurance firms charge higher premiums for costly vehicles in order to safeguard their capital in the event of an accident. Sports vehicles, on the other hand, generally have higher insurance premiums due to the increased risk associated with driving a vehicle of this kind.
Reasons why some cars are more expensive to insure than others
- The first deciding element is the purchase price. Insurers face greater replacement costs for expensive vehicles, making them riskier to insure. For an insurance company to pay you for a new Ferrari if yours was wrecked in an accident would be a huge cost. Therefore, premiums are greater in order to cover future losses.
- In addition, the car’s parts are a consideration. Because of the greater value repair expenses associated with vehicles having complicated engines or specialized components, insurance tends to be more costly. Automobiles with advanced features and technology, such as an infotainment system, are no exception. Insuring a vehicle with leather seats, wood trim, and a GPS system adds substantially to the cost of repair or replacement.
- A frequent misunderstanding about cars that prioritize safety is that they are less expensive to insure since the chance of an accident is reduced. State Farm Insurance, on the other hand, says that safer automobiles may end up costing more to cover due to the sophisticated technology found within. The expense of repairing safety features like lane departure warnings and backup cameras is high.
The danger of accidents is reduced, but there is a greater chance of financial loss during repairs or replacement, which may lead to higher insurance rates.
What Factors Affect the Cost of Car Insurance?
If you want to keep your auto insurance rates low, stay away from the following cars, according to the experts:
- Sports Cars: Ensuring people who drive sports cars are more expensive since the average age of sports car drivers is lower than the average age of drivers of other types of vehicles. Because of this, drivers may be tempted to engage in risky or reckless behaviour, which may result in an accident or a traffic ticket.
- Luxurious Cars: Because luxury automobile components are more costly, these vehicles are more expensive to fix in the event of an accident. In the event of a complete loss due to an accident, they are considerably more expensive to replace.
- Electric Vehicles: You can imagine how costly it is to repair or replace an EV after a serious accident, even if you only replace the battery.
- Car theft target: If you possess a type of automobile that is often targeted by car thieves, you can expect to pay a higher insurance premium since your vehicle is more difficult to insure.
Most expensive cars to insure based on an analysis
1. Maserati Quattroporte
4-Door Sedan Turbo
Average annual premium: $4,271
MSRP: $111,185.
As of 2021, the most costly automobile to insure is the Maserati Quattroporte, a premium sedan that usually costs over $2,500 every six-month coverage term. With an MSRP of $102,190, the Quattroporte is our sixth most expensive pick. Auto-Owners scored the most inexpensive cost of $895 for six months of coverage in our study of the best affordable insurance providers for this specific make and model. Infinity ($1,058) and Nationwide ($1,115) are two other affordable insurers.
2. Audi R8 5.2L V10 Quattro
2-Door Coupe AWD
Average annual premium: $4,079
MSRP: $199,095.
Even the Kentucky Derby’s 602 hp is outdone by the 602 hp Audi R8 5.2L V10 Quattro 2-Door Coupe AWD. The occupants of the vehicle may enjoy this seven-speed beauty’s 18-way Nappa leather interior, 20-inch aluminium racing alloys, and a six different speaker, Bluetooth-enabled, SiriusXM-equipped sound system while zipping around at high speeds in luxury. The V10 engine in this Audi makes it sound like a tiger roaring through the streets. And the luxurious cabin will make both the driver and the passengers happy.
3. BMW i8
2-Door Convertible Turbo Electric
Average annual premium: $3,934
MSRP: $147,500.
The BMW i8 is our second-most costly pick, but it also has the third-most-expensive insurance premiums. Because the i8 is both a sports car and a hybrid, insurance costs more for it than for sedans or SUVs. While insurance premiums in the U.S. averaged $364 per month, Nationwide offers the best value at $203 per month or $1,219 for a six-month plan. Farmers ($1,489) and Erie ($1,542) are two more budget-friendly options.
4. Porsche Taycan Turbo
4-Door Sedan
Average annual premium: $4,117
MSRP: $152,250.
The Porsche Taycan Turbo 4-Door Sedan is, to put it mildly, a beautiful car. This high-performance vehicle is unbeatable on the road because of its staggering 670 horsepower. The car’s “cockpit,” thermally insulated glass, pollen filter, and a plethora of airbags are among its standout features, apart from its tremendous power. If you’re looking for speed and flair, go no further than the Porsche Taycan Turbo 4-Door Sedan.
5. Nissan GT-R
2-Door Coupe Turbo
Average annual premium: $3,880
MSRP: $113,540
Insuring a Nissan GT-R, even if it costs almost $114,000, is not prohibitively expensive. This high-performance sports vehicle costs more than $2,500 more annually in premiums compared to the typical rate in the United States, with a monthly cost of $334 or $2,032 for six months’ coverage. State Farm ($661), Nationwide ($1,083), and Erie ($1,318) were the most affordable Nissan GT-R insurance providers.
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6. Mercedes-Benz S 560
2-Door Convertible Turbo
Average annual premium: $3,896
MSRP: $132,450.
There’s nothing low-tech about the Mercedes-Benz S 560 2-Door Convertible Turbo. High-tech features include a 12.8-inch OLED infotainment screen, 3D gauges, and a 360-degree camera on this vehicle. When it comes to high-end features, it has Nappa leather upholstery and 12-way power seats with three-zone LED ambient lighting. The astonishing power of the convertible should not be underestimated. It has 463 hp from dual turbochargers and can go from zero to sixty mph in 4.5 seconds.
7. Mercedes-Benz AMG G 63 4MATIC
4-Door Utility AWD Turbo
Average annual premium: $3,933
MSRP: $157,500.
The Mercedes-AMG GT is a high-end sports vehicle that costs $2,065 per year to insure. Considering that they charge $1,007 for a six-month coverage, Nationwide has the potential to be the most cost-effective auto insurance provider and save customers over $1,000. Farmers ($1,264) and Country Financial ($1,353) are two more dealerships that may be able to save you money on this particular vehicle.
8. Audi RS7 Quattro
4-Door Sedan AWD Turbo
Average annual premium: $3,800
MSRP: $116,000
When it comes to the Audi range, the RS7 Quattro 4-Door Sedan AWD Turbo cranks things up both visually and physically. With features like leather upholstery, a dual-touchscreen infotainment system, and a WiFi hotspot with a monthly subscription, this machine shines. When it comes to power, the 591-horsepower engine propels this car from 0 to 60 mph in three seconds and up to 155 mph with the pedal pushed.
9. BMW M850i xDrive
2-Door Convertible Turbo
Average annual premium: $3,815
MSRP: $122,395.
The BMW M850i xDrive 2-Door Convertible Turbo is no slouch when it comes to power, packing 523 horsepower. Apart from having a zero-60 time of 3.3 seconds, this convertible has a 10.3-inch touchscreen, 14-way power-adjustable heated front seats, and rich leather all over the cabin. All-wheel drive is a very desired standard feature.
10. Tesla Model S
Model S all-electric vehicles have the lowest MSRP and average insurance premium of $1,810 per six months on our list and are the ninth most costly to insure. National, American Family and Erie were the most affordable insurance for the Model S, with prices ranging from $818 to $986 per six-month coverage with these firms.
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Conclusion
You’ll be better prepared to search for a new automobile and car insurance if you know which vehicles are the most costly to insure. You can obtain the greatest coverage for the lowest cost if you do your homework.
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