Jun 25, 2020
Some Cars Are More Expensive To Insure
When shopping around for a car, it’s important to know if your car will be expensive to insure before making a purchase decision. Insurance costs impact the overall cost to drive.
We all know there are certain types of cars that are more expensive to insure. As the price tag increases and the rarer the car gets more expensive insurance premiums.
This blog post takes a look at the most expensive cars to insure, factors that impact insurance rates, and answers to common questions about expensive car insurance.
Who Wants An Expensive Car To Insure?
No Ontario driver wants expensive car insurance. But if you want to drive a luxury vehicle or sports car, you know that you will pay more for car insurance. These are cars with expensive insurance.
Which cars top the list as most expensive for insurance?
What Are The Most Expensive Cars To Insure?
Top 10 Most Expensive Cars To Insure
AutoGuide.com outlines the most expensive cars to insure :
- Mercedes AMG S65 Convertible
- Dodge Viper GTS
- Mercedes AMG S63 Convertible
- Maserati Quattroporte GTS
- Mercedes S550 Convertible
- Mercedes AMG C43 Convertible
- Mercedes Maybach S600
- Mercedes AMG SL65
- Nissan GT-R NISMO
- Audi R8 V10
What Are The Common Characteristics Of The Most Expensive Cars To Insure?
Based on the above list, it’s clear that are commonalities among the cars that are more expensive to insure :
- Sports cars and luxury vehicles
- Horsepower and engine size
- Foreign manufacturers
If you want to save on insurance, consider these factors when considering your next vehicle purchase.
Which Factors Make Cars Expensive To Insure?
Here are three key factors that typically make cars more expensive to insure :
- Imports : It’s no secret the most expensive vehicles to insure are imports such as BMW, Audi, Mercedes Benz, and Porsche. Sticker price will impact insurance rates.
- Repair Costs : The cost of parts and complexity to fix a vehicle is a key factor, and a reason why imports and expensive cars cost more to insure.
- Theft : Expensive cars are commonly targeted for theft. However, thieves also target vehicles that are easy to steal. Before purchasing a vehicle, check to see if it ranks on the list of most stolen vehicles.
Here Are Some Savings Tips If Your Car Is Expensive To Insure
For some drivers, expensive Ontario car insurance is not a deterrent. You want a specific car, even though it is more expensive to insure, in relative terms. But this doesn’t mean you still don’t have the ability to save.
Even though your vehicle may be more expensive to insure than the average vehicle, you can still reduce insurance costs with these 45 tips to save on car insurance. If you are thinking about getting a new car learn about the cheapest cars to insure in Ontario and lower your rates.
FAQs On Why Some Cars Are More Expensive To Insure
Here are some common questions we get asked about cars and expensive auto insurance :
No. Plain and simple. This is one of the biggest car insurance myths. The colour of your vehicle is not a factor when insurance companies determine premiums.
No. Leased cars are not more expensive to insure. Whether you choose to finance or lease, your insurance rates will be the same.
Generally, 2-door cars are more expensive to insure than 4-door vehicles. This is the case for a number of reasons. Two-door cars are often sportier, faster, and more expensive. But not all 2-door cars are more expensive than 4-door cars. It depends on the make, model, and many other factors – an important reason to compare insurance quotes.
In general, vehicles that are used for business tend to have higher rates for a number of reasons – they are on the road more often, require additional commercial auto insurance coverage, and are associated with greater risk.
No, older vehicles generally tend to be less expensive to insure compared to newer models as less coverage may be needed. It depends on many factors such as the amount of insurance coverage you purchase, age of vehicle, the safety of the vehicle, repair costs, and many other considerations. If it’s considered a classic car, then it may be more expensive to insure.
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