Ever wondered why your car insurance premiums are so high? The difference between the cheapest and most expensive cars to insure can amount to thousands of dollars annually. We're not just talking about exotic cars like Ferraris and Bentleys, but mainstream models from major manufacturers. This article delves into the factors that make some vehicles more expensive to insure than others, and provides a detailed look at the top 20 most expensive cars to insure.
Car insurance companies base their premiums on a variety of factors, including the driver's record, location, age, gender, marital status, and credit score. However, the make and model of the car also play a significant role. Generally, more expensive cars cost more to insure because they are more costly to repair, especially when they use exotic materials like aluminum and carbon fiber. According to Terrence Cahill, Director of Devices for 21st Century Insurance, insurance companies also consider claims histories, including the extent of damage a particular model sustains in a typical crash, the severity of injuries to occupants, and the cost of damage to other vehicles and property.
Based on data from Insurance.org, here are the top 20 most expensive cars to insure, along with their average estimated premium costs. Note that these figures are based on a theoretical 40-year-old male driver with a clean record, driving 14 miles to work daily, and having standard insurance limits. Drivers in major urban areas or those with multiple violations can expect to pay significantly more.
| Rank | Car Model | Average Annual Premium |
|---|---|---|
| 1 | Mercedes-Benz S65 AMG | $3,835 |
| 2 | Audi R8 | $3,808 |
| 3 | BMW i8 | $3,795 |
| 4 | Mercedes-Benz S63 AMG | $3,773 |
| 5 | Porsche Panamera Turbo | $3,734 |
| 6 | Tesla Model S Performance | $3,718 |
| 7 | BMW M760i xDrive | $3,705 |
| 8 | Nissan GT-R | $3,702 |
| 9 | Mercedes-Benz AMG GT | $3,673 |
| 10 | Audi RS7 | $3,660 |
| 11 | Jaguar F-Type SVR | $3,643 |
| 12 | BMW M6 Gran Coupe | $3,631 |
| 13 | Land Rover Range Rover SV Autobiography | $3,617 |
| 14 | Maserati Quattroporte GTS | $3,601 |
| 15 | Mercedes-Benz CLS63 AMG | $3,589 |
| 16 | Porsche 911 Turbo | $3,576 |
| 17 | BMW M5 | $3,563 |
| 18 | Mercedes-Benz G-Class | $3,550 |
| 19 | Lexus LC 500 | $3,537 |
| 20 | Alfa Romeo Giulia Quadrifoglio | $3,524 |
A recent survey found that even a single moving violation can increase car insurance premiums by 16% to 22%, depending on the offense. A comprehensive ZIP code analysis by CarInsurance.com revealed that drivers in urban areas pay significantly more for car insurance compared to those in smaller towns like Bullhead City, Arizona.
Some insurance companies may refuse to cover certain high-performance cars altogether, especially if the driver has a spotty record. High-risk models and drivers with multiple violations are often seen as too risky to insure.
The data for this article was gathered by Quadrant Information Services and is based on rates for 900 model-year 2021 vehicles from six major carriers in 10 ZIP codes per state. The rates are for a single 40-year-old male driver with no accidents or moving violations, driving 16 miles to work daily.
Understanding why some cars are more expensive to insure can help you make informed decisions when purchasing a vehicle. While high-end models come with higher premiums, knowing the factors that influence these costs can help you find the best insurance rates for your needs.
For more information on car insurance rates and factors, visit Insurance.org and CarInsurance.com.
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