Summary: Think your car insurance premiums are high? The difference between the cheapest and most expensive cars to insure can amount to several thousand dollars annually. This article delves into the factors that influence these costs, focusing on high-performance vehicles from mainstream automakers rather than exotic brands like Ferraris and Bentleys. Learn about the top 30 most expensive cars to insure, based on data from Insurance.com, and discover the nuances that affect these premiums.
When it comes to car insurance, the type of vehicle you drive plays a significant role in determining your premiums. While some may opt not to insure high-performance vehicles fully, many will prefer to do so. The gap between the least expensive and most expensive cars to insure can be substantial, often amounting to several thousand dollars annually. This article explores the factors that influence these costs and provides a detailed look at the top 30 most expensive cars to insure.
Car insurance companies base their rates on various factors, including:
According to Terrence Cahill, Director of Communications for 21st Century Insurance, "The more expensive the car, the higher the insurance costs, especially when you consider the enticing materials used in some of these cars like aluminum and graphite."
We have compiled a list of the top 30 most expensive cars to insure, based on data from Insurance.com. The average expected premium costs are provided for a hypothetical 40-year-old male with a clean record driving 16 miles to work each day, with standard coverage limits.
| Rank | Car Model | Average Annual Premium |
|---|---|---|
| 1 | Mercedes-Benz S65 AMG | $3,835 |
| 2 | Audi R8 | $3,725 |
| 3 | BMW i8 | $3,601 |
| 4 | Porsche Panamera | $3,545 |
| 5 | Tesla Model S | $3,441 |
| ... | ... | ... |
| 30 | Lexus LS 460 | $2,678 |
Source: Insurance.com
A recent study found that even a single moving violation can increase insurance rates by 16 to 22 percent, depending on the offense. A comprehensive ZIP code analysis by CarInsurance.com revealed that, all else being equal, a driver living in Highland Park, Michigan, would pay approximately 577 percent more for car insurance than the same driver living in Bullhead City, Arizona.
Some insurance companies may refuse to cover drivers with multiple infractions on their record, especially if they drive what is considered a high-risk vehicle. This can make it challenging for such drivers to find affordable insurance.
The data for this article was gathered a few months ago by Quadrant Information Services, based on rates using information on 800 model-year 2021 vehicle styles from six major providers in 12 ZIP codes per state. The quotes assume a single 40-year-old male driver with no accidents or moving violations who drives 16 miles to work each day.
Understanding the factors that influence car insurance premiums can help you make informed decisions when purchasing a vehicle. While high-performance cars may offer an exhilarating driving experience, they come with higher insurance costs that should be considered.
For more detailed information on car insurance rates and factors, visit Insurance.com.
Note: All statistics and data are accurate as of the time of writing. For the most current information, please refer to the original sources.
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