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 them because they are equipped with sufficient number of airbags and other protective 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 cover.

On the other hand, some cars are not bought to pick up children, get the grocery and go to work. They are chosen purely for their speed. A few 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 automobiles to insure.

affordable sports car insurance

People who buy them are generally rich enough not to worry about additional costs. It is a good thing because they attract high rates. Here are some of the reasons why car insurance companies don’t like them and demand more money.

  • These automobiles are made of special materials like toughened carbon fiber and have sporty shapes that an ordinary mechanic cannot repair them. 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 training to handle some of them. An ordinary motorist may be able to recover from a mistake at 50 mph. But it is highly doubtful that they will regain control once it is lost at 150 mph.
  • They are not cheap to buy either that carriers 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.

It is no surprise that performance cars are topping the list. Keep in mind that premiums can be different depending on where you live and which company quotes. Various people look into these figures every year and their findings may be slightly different. We will look at insure.com findings below.

Here are the top 10 most expensive cars to insure

  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 problems.

  1. These cars are not really for teenagers or even younger motorists. You should check first if you can include a youngster as the owner or listed on the policy. Generally speaking, many carriers wouldn’t even consider them. And they will probably include a special condition that they can only be driven by people over the age of 25.
  2. Most people think that they should find a performance car specialist or broker. However, a few specialist brokers can milk the situation and charge too much. Majority of traditional carriers can cover these autos without a problem and they are likely to be cheaper.
  3. Having bad 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 if you want to enjoy a sports car and still have low insurance rates.
  4. When you know the vehicle is high risk you should concentrate on other areas to save money. For example, things like having good credit and private parking can save you a lot of money.
  5. 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 discounts you can qualify and they are different at each provider.

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

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