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I feel the need for speed; The most expensive car to insure goes FAST!

2016-03-17
By: Advocate Brokerage

Most expensive cars

We’ve already shared a list of the least expensive 2016 model cars to insure according to Insure.com. Our blog also included a list of things that go into making up your insurance premium, touching on the factors of the vehicle itself as well as personal information and the demographics regarding where you live. In case you missed it, you can read the full blog here.

This week we will share the opposite list, the most expensive 2016 model year cars to insure. What are the common factors that make up the list? Style, Horsepower & of course, Luxury.

The list

Dodge GT Viper dodge GT viper
Mercedes SL65 AMG – Convertible mercedes SL65
Mercedes S600 BIT Mercedes S600
Mercedes S63 AMG 4Matic mercedes S63 4matic
Porsche Panamera S Executive Porsche Panamera
Nissan GT-R Nismo Nissan GT-R
BMW M6 Grand Coupe BMW M6
Land Rover Range Rover
SV Autobiography Black LWB
Land Rover
Porsche 911 Carrera GT3 RS Porsche 911
Audi RS7 Quattro Prestige Audi RS7 Quattro

 

What makes them the most expensive to insure?

Well it isn’t based on price tag alone. In fact, the car on the list with the smallest sticker price is actually the most expensive to insure. That’s right, the Dodge GT Viper has a sticker price under $100K yet it comes with the highest premium. So if it isn’t price alone, what else makes them expensive? Read on:

  • Costly Repairs. Between turbo engines and foreign manufacturing the price of repairing damage would be hefty.
  • Threat of theft and vandalism. Luxury cars are more appealing for car theft. Plus if the auto is a convertible that makes it more accessible.
  • Intended use. These cars are built for speed. As Penny Gusner, an analyst for insure.com notes, “the driver carting around children tends to be more cautious than the person driving a muscle car.”
  • Number of claims on that particular model. If the number of claims on a particular model is significant, then the cost to insure will also be significant.

As always, if you are purchasing a new vehicle, be sure to contact us right away. Advocate will take care of the details and adjust your coverage so that you and your new baby are fully protected.

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