Top 10 Most Expensive Cars to Insure & How to Lower Premiums

Some cars are bought to drive the family around and they generally tend to be highly safe. Auto insurers love these cars because they are equipped with sufficient number of airbags and other safety features. Also, they are relatively calm automobiles with smaller engines that limit their speeding abilities. They are popular because they are economical to buy and insure.

On the other hand, some cars are not bought to pick up children, get the grocery and go to work. They are bought purely for their speed. Most of those performance cars can reach to 60 mph in less than 5 seconds. And it won’t take long before they can reach 150 mph. They don’t need much encouragement to run fast with their powerful engines. These are usually the most expensive cars to insure.

affordable sports car insurance

Most people who buy them are generally rich enough not to worry about insurance premiums. It is a good thing because they are not cheap to insure. Here are some of the reasons why car insurance companies don’t like them and demand high premiums.

  • These automobiles are made of special materials like toughened carbon fiber and have sporty shapes that they cannot be repaired by an ordinary mechanic. Even a fender bender can cost thousands of dollars, if it is possible to repair at all.
  • They can reach to scary speeds that you may need to have a race driver training to handle some of them. An ordinary driver may be able to recover from a mistake at 50 mph. But it is highly doubtful that they will recover from a mistake at 150 mph.
  • They are not cheap to buy either that auto insurers will have to pay a lot of money when they are totalled. The fact that a few of them get wrecked every year means that they are simply high risk to insure.

It is no surprise that performance cars are topping the list of most expensive to insure automobiles. The premiums can be different depending on where you live and which company quotes. Various companies look into these figures every year and their findings may be slightly different.

Here are the top 10 most expensive cars to insure according to insure.com

  1. Nissan GT-R Track Edition
  2. BMW M6
  3. Mercedes-Benz  CL550 4Matic AWD
  4. Mercedes-Benz SLS AMG GT
  5. Porsche Panamera Turbo S
  6. Audi R8 5.2 Spyder Quattro
  7. Mercedes-Benz  G63 AMG
  8. Audi A8 L 6.3 Quattro
  9. Jaguar XKR Supercharged
  10. Jaguar XK

As mentioned above finding cheap auto insurance may not be one of the concerns the owners of these automobiles have. If they were concerned here are a few tips to help them find a good deal and avoid some of the insurance problems.

  1. These cars are not really for teenagers or even younger drivers. You should check first if you can insure with a young driver as the owner or listed driver on the policy. Generally speaking, most insurers wouldn’t even consider insuring them with a young driver. And they are most likely to include a special condition that they can only be driven by drivers over the age of 25.
  2. Most people think that they should find a specialist performance car insurer or broker. However, a few specialist insurers and brokers can milk the situation and charge too high premiums. Majority of traditional insurers can insure these autos without a problem and they are likely to be cheaper.
  3. Having bad driving records may add salt to injure and can double already high performance car premiums. This is something to keep in mind. Do you know how long does a ticket stay on your record? It is best to avoid them as best as you can if you want to enjoy your sports car and still have low auto insurance premiums. When you know your vehicle is high risk you should concentrate on other areas to save money.
  4. Always shopping around for the best prices help. This is extra important when the premium is high as the savings would be bigger. There are many savings you can qualify and the rates of these savings are different at each insurer.

The good thing is that you can get insurance quotes for a car you are considering buying. You can also check its insurance rating to understand how much the premium will be. If you are worried about the costs it is best to check them first before making a large investment. You can insure high risk automobiles at affordable prices if you are a good driver, have no claim, good credit score and living in a zip code with low insurance rates.

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