If you’re looking to cut down on car insurance premiums and you haven’t purchased a car yet, you might want to know which cars are the most expensive to insure. That will add to your cost of owning the vehicle over the next 5 to 7 years.
Generally speaking, fast, powerful and expensive cars will raise your insurance rates. However, there’s more to it than power and showroom price. The cost of replacing or repairing the car is a significant issue. Insurers take all that into account.
You’d expect the most expensive brands such as Mercedes Benz, Porsche, Audi, or Lexus to be among those with the higher insurance premiums, but costs might be more related to the specific model. However, Acura has 4 models in the top 10 most expensive cars to insure. Let’s take a look.
A few are ranked highly because of their attractiveness to auto thieves who steal and export certain models.
10. Toyota Camry (Purchase price: $25k to $38k)
9. Toyota FJ Cruiser ($32k to $38k)
8. Acura MDX ($52k to $62k)
7. Acura RDX ($40k to $43k)
6. Honda Civic Si Coupe ($26k)
5. BMW ($63k to $74k)
4. Porsche Cayenne ($47k to $122k)
3. Acura TL ($34k to $44k)
2. Ford F-250 Super Duty ($34k to $39k)
1. Acura TL Type-S ($44k to $48k)
One other model that isn’t mentioned here is the Dodge Viper. Dodge only produces 1500 of these per year and that makes finding parts difficult. And, mechanics need special training to repair them. The Viper has the highest repair costs of any consumer automobile. Not too many of them out there, so that’s likely why it was left off the list.
Big trucks such as Ford F 150s’, F250’s etc. and the Chev Silverado also rank high because of repair costs. Trucks do get a lot of wear and tear, making them more susceptible to breakdown. When a vehicle is loaded with expensive electronic components and a turbocharger, it can raise your insurance rates even more.
Talk to us about auto insurance coverage and how to get the lowest car insurance premiums lower.