Most Expensive Cars to Insure

One of the biggest costs of having a car, beyond the purchase price or lease amount, is the insurance premiums. Auto insurance companies consider your make and model and year of your car when they determine your insurance rates, so it is important to know when you are car shopping what types of cars to avoid because they are too expensive to insure.

Most Expensive Cars to Insure: Expensive Cars

Your rates for collision and comprehensive coverage are largely based on the cost to repair or replace your vehicle, so the more expensive your car is, the higher these rates will be. Insurance companies will charge you much more for a car that could cost them $100,000 to replace than one that will only be $20,000 at the most.

Most Expensive Cars to Insure: Big Cars (SUVs and Trucks)

In addition, if your car is actually an SUV or a truck, it will be expensive to insure, not only because it costs more to replace, but because it is heavy and will cause more damage to other vehicles involved in an accident. Plus, the SUV or truck has a much higher bumper, so the impact on a sedan will be in the body of the car instead of down on the bumper.

Most Expensive Cars to Insure: New Cars

New cars are also more expensive to insure, mostly because their value is still so high. A new car needs to be replaced with a new car in an accident that leaves it totaled, so insurance companies will consider how old or new your vehicle is when determining your auto insurance premiums.

Most Expensive Cars to Insure: Specialty Cars

If your car is rare, specially equipped or modified, or otherwise difficult to obtain, it will be more expensive to insure. Again, this is because of the cost of replacing the vehicle with something that is comparable.

Most Expensive Cars to Insure: Sports Cars

Lastly, if you have a sporty car, especially one in a bright color such as yellow or red, you will likely be looking at much higher car insurance premiums. Auto insurance companies assume that if you get a sports car, you will drive it like one, being more reckless on the road and speeding more. This makes you more liable to get in an accident involving an insurance claim, so they charge you more for insurance.