When you’re shopping for a car, you may think that the right budget for your car insurance premium will be relative to the price of the car, but the price of the car is not always a good indicator of the cost of car insurance. Have you ever compared car insurance rates and found out someone has a more expensive car than you pay much less? Or have you ever changed to another model of car and ended up paying the same amount or more for a cheaper car? You won’t be alone, these are scenarios that happen to people every day, and everyone has the same question: Why? There are reasons why insuring one car is more expensive than another, and it helps to look at average insurance costs before buying your next car.
Consider reducing the cost of insurance by adding anti-theft devices that will give you higher discounts and strategically combine that with bundling your home and car, get a higher discount to save a significant amount on your premiums through discounts.
There are all kinds of listings to look at, but the best way to find affordable insurance is to shop around and use your personal information and insurance credit history to get the best rate. We have the latest lists of the most expensive cars to insure, some of the cars on this list might surprise you, and we’ll explain why too.
Do cheaper cars cost less to insure?
no. Buying an affordable car does not always mean affordable insurance. Insurance Institute for Highway Safety The Highway Loss Data Institute (IIHS HLDI) collects data on claim payments, breakdown data, safety ratings, and other important information about driving habits, accident causes, and distracted driving statistics. One of the things this data is used for is to consider the cost of auto insurance, frequency of claims, and claims payments for auto parts or damages on different cars.
24/7 Wall Street used this data to come up with the most expensive cars to insure in 2018, but there may be correlations between insurance costs and the profile of the driver who typically buys these cars.
These are the cars made in the list of cars that will cost more to insure based on current (IIHS HLDI) statistics.
List of the most expensive cars to insure 2022
Each year, various organizations compare the cost of car insurance to come up with lists of the most expensive cars to insure. We cover two of them because it gives you a good idea of how different factors affect prices. If you are not looking to buy a luxury car, you may be more interested in the information in our second list.
In the most recent 2019 data from Insure.com, for example, who does a review each year, these are the most expensive cars to insure in 2019 based on the average car insurance survey surveyed.
Nissan CT-R $3,941
Mercedes-Maybach S650 $3917
Porsche Panamera Turbo $3,887
Mercedes-AMG GT R $3,751
BMW M760i xDrive $3,705
BMW M6 Grand Coupe $3,637
BMW I8 $3,585
Mercedes S65 AMG $3,585
Mercedes SL63 AMG $3,549
Mercedes S560 Matic $3514
Porsche 911 Carrera GT3 RS $3,458
Mercedes-Maybach S560 4Matic $3,393
Land Rover Range Rover SV AUTOBIO Dynamic, $3,356
Jaguar F-Type SVR $3,350
Tesla Model S 75D $3300
BMW M5 $3,275
Jaguar XJ R575 $3,257
Mercedes SL550 3,218 dollars
BMW 750I XDrive $3,216
Jaguar XF Sport Brake Prestige $3,199
Note that the entire list ranges from $3,199 to $3,941, so generally the most expensive cars to insure generate premiums between $3,000 and $4,000 annually. If you’re looking to lower the price of your car insurance, consider increasing your deductible, and you can probably eliminate most of the price difference with this strategy. The cost of cars on the list is also likely to share some of the following common risks that will make costs above average:
- Expensive parts to repair or replace (which makes collision costs higher)
- High rates of theft (raising overall costs)
- More horsepower (makes liability risk higher)
- High value to exchange
Compare this list to the list below from our other sources and you will see a huge difference.
The average cost of auto insurance for semi-autos in the 25 most expensive cars insured based on 24/7 Wall Street information ranges from $1,150 to $1,200 annually.
The list below includes the most expensive cars to insure:
The average annual rate of insurance paid on these forms according to (IIHS HLDI)
Approximate retail value of the car
Cheaper cars do not always mean cheap car insurance, but they may also indicate average features for ordinary drivers of these cars.
Kia Forte : $1,155.82 average insurance cost / $16,800 retail
Mercedes-Benz C-Class Four-Door 2WD : $1,157.34 average insurance cost / $40,250 retail
Nissan Versa: $1,157.59 / $12,110
Nissan Sentra: $1,165.05 / $16,990
Lexus IS 350 4-Door 2WD: $1,167.11 / $38,210
Audi A4 4-Door 2WD: $1,169.13 / $36,000
Land Rover Range Rover Sport Four-Door 4WD: $1,173.05 / $66,750
Infiniti Q50 2D 4WD: $1,182.32 / $66,750
Dodge Dart: $1,187.55 / $16,995
Kia Rio: $1,191.26 / $13,900
Nissan Maxima: $1,237.68 / $33,270
Scion tC: $1,237.74 / $19,385
Chrysler 200 2WD / $1,261.87 / $22,115
iA Scion: $1,274.51 / $15,700
Ford Mustang 2D: $1,291.53 / $25,680
Lexus GS 350 4D 2WD: $1,295.44 / $46,310
BMW 4 Series 2D 2WD: $1,306.51 / $43,300
Audi A7 4D 4WD: $1,322.51 / $69,700
Dodge Challenger: $1,335.79 / $27,295
Kia Optima Hybrid: $1,355.13 / $25,995
Dodge Charger 2WD: $1,385.61 / $28,995
Scion FR-S: $1,403.67 / $25,305
Mitsubishi Lancer 2WD: $1,458.48 / $17,795
Mercedes-Benz S-Class 4-Door LWB 2WD: $1,540.63 / $89,900
Tesla Model S electric 4-doors and 4WD: $1,789.48 / $74,500
What factors make some expensive cars have better insurance rates?…..
Before getting into differences in the driver profiles of different cars, it’s worth understanding that when cars have more safety features, it may be more expensive to buy, but less expensive to insure. When the car uses technology to prevent damage or avoid accidents, the car model may be more expensive, but the insurance may be lower because it is less likely to cost the insurance company in claims payments like cheaper cars with fewer safety features, provided all other factors are the same ( age, location, driving history, etc.)
Your personal information will affect the cost of insurance
Depending on the source of the information, and how the data is calculated, there will be huge differences in cars that make different lists. So these lists should be taken as indicators, but ultimately pricing cars using your personal information will give you the best estimate.
Different insurance price lists use different criteria
A great example of how personal information, your choice of insurance company and even your location can affect the cost of insurance can be found when you take a look at the list of least expensive cars to insure and Insure.com list the most expensive cars and compare it to the list above. Insure.com uses data from six insurance companies in 10 zip codes per state but is based on a 40-year-old male profile. This greatly affects the rates used to make a list. As a result, the cars in the menus change.
The above list is using data from IIHS HLDI’s accidents, claims payments, crash testing and average premiums across the US, and is not isolated to a specific age but rather to actual claims data
For example: the profile of a Land Rover Range Rover Sport 4D 4WD is probably not driven on average by a 19-year-old as a base driver across the country, it’s likely to be driven by someone with age discounts, professional discounts and a strong insurance credit history and possibly More driving experience because it’s not the type of car that most people get as their first car, or when they are students. So using actual data from the institute explains that however, if you’re taking a Nissan or a Kia, there’s probably more diversity in the driver profile and that might be part of what puts these two cars in the same insurance price range in the above list. The price of insurance for you on these two cars may not be the same at all, although they are almost the same on the list.
The best way to find out the most expensive car insurance?
The best way to find out which cars are most expensive to insure or which are least expensive for you is to:
Come with the list of cars you want.
Get a quote keeping all your personal information as is.
Switch car models and compare.
Repeat with different insurance companies because one company may be more suitable for your profile than another and these companies will give you a better rate for insurance .
This way you will get the true picture of the expected cost, which is the best way to work out your car insurance budget and you will not end up with unexpected surprises.