What are the most expensive cars to insure?
Valerie Raskovic
Dec 10, 2024
When it comes to car insurance, not all vehicles are created equal. Some cars may not just be expensive to purchase but also come with significantly higher insurance premiums. This is mainly due to factors like higher values, high replacement part costs, high repair costs, safety features, limited production, high performance, new technology, advanced features and insurance designated loss risk ratings.
Insurance companies use a variety of loss risk factors to determine the risk value of a vehicle. This process involves a detailed analysis of historical data such as accident rate per year make and model of the vehicles, average loss payout as well as specific vehicle characteristics. The insurance companies have advanced systems of calculating risk based on past claims, so they use all of the tools and data at their disposal to predict the likeliness of loss on each and every year, make and model vehicle.
If you're in the market for a new car, it's essential to consider the cost of insurance to avoid any unexpected financial burdens. We have outlined the top 10 highest-priced to insure vehicles on the market today.
- Maserati Quattroporte
With the average annual insurance rates just over $5000 the Maserati Quattroporte was amongst the most expensive cars to insure in 2024. The high price tag can be attributed to several factors such as high initial purchase price, high replacement part and repair costs. Also, it appears that insurance companies tend to assign a higher risk of loss due to possible collision to this make and model vehicle.
- Porsche Panamera Turbo Hybrid
This high-performance hybrid sports car offers accelerating performance and commands attention on the road. Its high speed and advanced technology make it a favorite among driving enthusiasts, but these features also contribute to its high insurance costs. The Porsche Panamera Turbo Hybrid high value, complicated build architecture, high repair costs are all significant factors driving up the insurance premiums. Also, just like the Quattroporte the Panamera is considered a sports car thus further increasing insurance companies risk of loss.
- Audi RS e-tron GT
The Audi RS e-tron GT is Audi’s first fully electric RS performance car model. Just like the other cars in the lineup it offers exceptional performance however, that comes at a hefty cost. Due to some significant issues like exuberant replacement part costs, extended diagnostic times, driving up the repair costs it is not a big surprise this vehicle has made it high up on this list. Due to the advanced state-of-the-art technology and the increased costs associated with repairing this vehicle, coupled with the fact that the Audi e-Tron is among the highest-depreciating fully electric vehicles on the market, this vehicle makes it to the list of those with the highest insurance premiums. Used car buyers are often deterred by its increased ownership costs and the overall softening of the electric car market, further contributing to its high insurance rates.
- Tesla Model S Plaid
The Tesla Model S Plaid is no ordinary Tesla as it offers performance rivaling most supercars. With a 0 to 60 time of 2 seconds the Model S Plaid is a seriously fast car. This is one of the main reasons why insurance companies designate it as high risk. This fully electric vehicle offers various advanced safety features; however those features due not help it offset its risk factors or high repair costs. So, if you are in the market for an S Plaid it is best to get a quote from your car insurance company before making the purchase decision.
- Lamborghini Huracan
The Lamborghini Huracan is a supercar that offers breathtaking performance and a distinctive design. However, its high value, limited production, and specialized parts make it one of the most expensive vehicles to insure. The cost of repairs and the likelihood of accidents contribute to its high insurance premiums.
- Ferrari 488
Just like the Lamborghini Huracan the Ferrari 488 is another super car that combines speed, luxury, and cutting-edge technology. Its high value, advanced features, and specialized parts make it extremely costly to repair and to insure. The 488's high performance also increases the risk of accidents, further driving up insurance costs.
- BMW M5
The BMW M5 is a premium vehicle offers a blend of power, comfort, and style. Its advanced electronic features, high value, and high repair costs contribute to its high insurance premiums. The M5's high performance also increases the risk of accidents, making it more expensive to insure than other sedans in its class.
- Audi R8
The Audi R8 is another sports car that offers a combination of high-end features and performance. Its advanced electronics, high value, and specialized parts make it one of the most expensive vehicles to insure. The R8's high performance and high repair costs contribute to its high insurance premiums.
- Mercedes-AMG GT
Following the theme of high-performance vehicle, the Mercedes-AMG GT is a high-performance sports car that offers a blend of luxury and performance. Its advanced features, high value, and specialized parts make it a costly vehicle to insure. The GT's high performance and high repair costs contribute to its high insurance premiums.
- Dodge Charger SRT Hellcat
As the only American muscle car on this list the dodger charger hellcat is affected by some unique issues driving up insurance premiums. Similar to other vehicles on this list the Charger SRT Hellcat is a high-performance vehicle with an increases rate of accident-related losses however, it is also affected by higher rate of theft making it amongst the most stolen vehicles in the USA today. In fact, according to Highway Loss Data Institute (HLDI) 25% of theft claims for every 1,000 insured are for Charger SRT Hellcat models. This is over 60 times more frequent than the average.
Conclusion
While owning a high-end vehicle can be a dream come true, it's important to consider the cost of insurance before making a purchase. The top 10 highest-priced to ensure vehicles in the USA are known for their luxury, performance and advanced features, but these attributes also come with a higher insurance premiums. By understanding the factors that influence insurance costs, you can make an informed decision and avoid any unexpected financial burdens.
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