What might make a car more expensive to insure?

Asked by: Jerel Mante  |  Last update: December 25, 2022
Score: 4.3/5 (19 votes)

Common causes of overly expensive insurance rates include your age, driving record, credit history, coverage options, what car you drive and where you live. Anything that insurers can link to an increased likelihood that you will be in an accident and file a claim will result in higher car insurance premiums.

What makes cars more expensive to insure?

The car you drive – The cost of your car is a major factor in the cost to insure it. Other variables include the likelihood of theft, the cost of repairs, its engine size and the overall safety record of the car. Automobiles with high quality safety equipment might qualify for premium discounts.

Is it more expensive to insure an expensive car?

Because car insurance is designed to protect your vehicle, the high price of a luxury car inevitably leads to higher insurance costs. For the models included in our survey, the average annual insurance premium for a luxury car was about 18% higher than the cost of insuring a moderately priced sedan.

Are older cars cheaper to insure?

Are older cars cheaper to insure? Yes, most older cars are cheaper to insure, especially in terms of comprehensive and collision insurance. Cars lose value as they age, so the potential insurance payouts after an accident drop as well.

What color cars are more expensive to insure?

Based on this, vehicles that are white or black are likely to cost more to insure, since they are more in demand colors. The color of your car can indirectly affect insurance rates in other ways too. Some vehicles are less likely to be stolen.

8 Ways to Get Cheaper Car Insurance - What Makes Your Rate More Expensive

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Why are BMW so expensive to insure?

As a luxury vehicle manufacturer, BMW models can be expensive to insure. This is because expensive cars usually cost more to repair and replace.

Are Mercedes expensive to insure?

The bad news: car insurance for a Mercedes-Benz is more costly than average. The good news: by shopping around, you can find a decent deal. The average car insurance premium for a Mercedes-Benz is $2,639 per year ($219 monthly). This makes the brand the fourth most expensive car brand to insure.

Are Audi expensive to insure?

According to The Zebra, most Audi drivers pay 36 percent more than the average driver for auto insurance. If you have your eye on a vehicle from this luxury lineup, you'll pay around $1606 depending on where you live and other factors.

Is a BMW 328i expensive to insure?

The national average insurance cost for a BMW 328i is $150 a month or $1,800 a year, which makes it the cheapest BMW to insure.

Will a BMW raise my insurance?

Car insurance for a BMW costs $1,788 per year: 25% more than insurance for a typical car. Since BMW insurance is more expensive than average, you should do your due diligence when shopping for a policy.

How much is insurance for Audi A4?

Information for Audi A4 insurance cost shows that the average annual premium is $1544 with monthly payments of $129. While the cost runs around $25 more each year than some other vehicles, drivers with a safe driving record can save an estimate $637. Overall, insurance rates for the Audi A4 are competitive.

Is a BMW cheap to insure?

BMW Car Insurance FAQs

Yes, they are more expensive to insure than the average vehicle. So comparatively, they are more expensive. Compared to other luxury vehicles, BMW insurance costs are similar. Style, features, price, and vehicle options are some of the factors that contribute to the higher costs.

Is a BMW more expensive to insure than Audi?

The difference in actual cost to own is because the BMW costs slightly more to repair and gets a bit less fuel mileage, but the primary difference is that it costs more to insure a BMW Sedan. Over the initial 5 year ownership period, an Audi A4 sedan will cost about $2,138 per month to insure, for a total of $11,464.

Which is cheaper to insure BMW or Audi?

Are BMWs expensive to insure? BMWs are no more expensive to insure than rivals from other premium brands such as Audi and Mercedes.

Is it hard to maintain an Audi?

The average annual Audi repair cost is relatively high, largely because Audis experience unexpected issues at a rate roughly double that of the average vehicle. While needed repairs aren't much more likely than average to be severe, even common Audi repairs can be costly.

How much is insurance for Mercedes C300?

Full coverage for the C300 is estimated at $1652 annually and $138 per month, while a policy with only liability coverage averages $663 yearly and $55 per month.

How expensive is it to own a Mercedes?

The average cost of owning a Mercedes-Benz A-Class for 5 years is $42,876. This total will vary per vehicle, driver and location. These ownership expenses include: Depreciation.

What is the cheapest car color?

Red is the most expensive colour, worth an extra $338; grey is the cheapest, worth $389 less than the convertible average. For trucks, black is the most valuable colour, worth an extra $221; blue is the cheapest, averaging $237 less than a typical pickup. "Here's the catch," Klein says.

What is the safest car color?

White. We've referenced the safest color car on the road. That color is white. White cars are 12 percent less likely to be involved in an accident than black cars at any time of the day under any conditions.

What car has the highest insurance rate?

What are the most expensive cars to insure in 2021? The most expensive car to insure in 2021 is the Maserati Quattroporte, which costs an average of $419 per month — or a whopping $5,024 annually. That's 239% more than the national average premium for auto insurance.

What is the cheapest make of car to insure?

What is the cheapest car to insure?
  • Volkswagen Up. The latest version of the VW Up is a spacious and reliable four-seater and is great for zipping around cities and towns. ...
  • Hyundai i10. ...
  • SEAT Ibiza. ...
  • Nissan Micra. ...
  • Ford Ka+ ...
  • Toyota Yaris. ...
  • Smart Forfour. ...
  • Skoda Citigo.

Does insurance decrease when car is paid off?

No, paying off your car doesn't reduce your insurance rates, but it does give you more control over the type and amount of coverage you have, which can help you save money on your insurance rates.

Why is insurance so expensive under 25?

Young drivers aged 16 to 25 pay more for car insurance than older drivers because, statistically, they cause more accidents. The high rate of youth driver accidents increases insurers' risk, which they mitigate by charging higher premiums.