It isn’t too complicated to determine what will be the most expensive cars to obtain insurance for. A useful metric is to just look at the most expensive cars out there to buy.  Insurance companies use a lot of different metrics when setting their premiums. The make, model and year of the car are just one of these.

The Mercedes High-End Vehicles

mercedes benz

It is common knowledge that any of the Mercedes Benz vehicles are going to come with a hefty price tag. It is a company that is well recognized for the building of exceptionally high-quality vehicles. The brand primarily sells itself. Like any car manufacturer, they need to be  able to compete.

With more people looking at Insurance costs it can pose a problem for the high-end vehicle manufacturers. Even though someone may be able to afford this type of vehicle they have issues with having to pay high insurance for the pleasure of driving these.

The Mercedes S65 AMG (convertible)

It may be the most expensive car to Insure. Some experts are rating the average cost to ensure this vehicle at $3,835.  It is not the only Mercedes vehicle on the high insurance list, and the others are…

  • The Mercedes S63 AMG 4Matic (convertible)
  • Also, the Mercedes S550 (convertible)
  • Plus, Mercedes C43 4Matic (convertible)
  • Along with the Mercedes S550 (convertible)
  •  The Mercedes C43 4Matic (convertible)
  • Plus,  Mercedes Maybach S600
  •  Also the Mercedes SL65 AMG (convertible)

On average most of these will be over the $3,000. mark for insuring. What is noted here as well is that the majority of these Mercedes are convertibles. This fact alone contributes to the increase in premiums.

 The Dodge GTS Viper

The Dodge GTS Viper is second on the list for being the most expensive vehicle to insure. Usually, high performance vehicles are more expensive when it comes to Insurance. Anyone that knows anything about this Viper knows it’s a high performer.

Maserati Quattroporte GTS

Out of the top ten vehicles to insure the Maserati Quattroporte GTS comes in at the fifth spot. The concept behind what makes this particular vehicle more expensive to insure is a little different. In many cases, the high priced vehicles are targets for thieves. This alone boosts up the insurance. However, the Maserati Quattroporte GTS doesn’t  appear to be a target for theft.

This vehicle is a high performer. Furthermore, it has a lot of exceptional safety features built into it  which makes it a little different from some of the high-end sports models. So, this may lend to making the insurance a little lower, but all  of its other attributes keep it on the high end for insurance. Especially the MSRPs which is one of the biggest contributors to high rate insurance.

Nissan GT-R Nismo

This Nissan has managed to make it to the top ten list of the most expensive vehicles when it comes to insurance. Most likely due to this being a street-legal racing car. It’s built for speed and performance. All big factors when it comes to increasing the cost of insurance.

Audi R8 5.2L V10 Quattro

This Audi just made the top ten list. All because it is a pricey vehicle to buy and comes into the sports car category.

Factors to Keep In Mind About Vehicles That are Expensive to Insure

keep in mind

There are several different top ten lists that one can look at. They often differ although many of the same vehicles will appear on the list.  A few factors are what creates the differences in the lists.

The Area

Where the car is  stored and driven are two important factors.

Insurance companies pay a lot of attention to these details. The area may have a higher crime rate when it comes to car theft. Or, it may have statistics showing that it has more collisions. Insurance companies depend on a lot of statistics to help them set the rates.

The Value of the Vehicle

Insurance companies know what their obligations are. Depending on the insurance coverage they may have to replace the vehicle. The more expensive that vehicle is, the more it costs the insurance company.

The Style of the Vehicles

All of these high-end vehicles come with their special characteristics. For example, the Mercedes line has a lot of different convertibles. Insurance companies may view these soft top vehicles to be a higher risk for injury claims.

The high performing sports cars are built for speed. Owners of these vehicles are certainly going to want to push these vehicles at least to the legal limits. It may be another concern for the Insurance companies. Sports cars are usually smaller,. This feature may be another factor playing into the higher cost for insurance.

The Cost of Repairs

Not every vehicle in an accident is a write-off. Most often they can be repaired. The big question for the Insurance companies is at what price? The parts for these vehicles are usually more expensive. It may also take a mechanic that’s highly trained in the particular model. These are all factors that boost up the cost of insurance.

Shopping for High-Cost Insurance

shopping

Shopping for insurance for high-end vehicles may take a little more work. It should not just be accepted that all Insurance premiums for a specific car will be the same. Insurance companies like to be competitive. For those shopping for insurance, they should take advantage of this. It can begin by getting quotes for the Insurance. The quotes can be compared. The choice should not just come down to the lowest premiums either. Drivers of high-end cars want the best in insurance coverage. It means making sure what all the options are for additional insurance. So, they can make an informed decision and perhaps do some comparisons on these as well.

Aside from the vehicle being one that is the high end which is expensive to insure, there are other factors. The insurance company will also consider the age and drive history of the driver. All of the various factors considered by the Insurance company will help to determine the final cost of the insurance.

Resources

https://www.marketwatch.com/story/10-most-expensive-cars-to-insure-2016-02-25
http://www.automobile.com/maserati.html