Insurance premiums tend to be influenced by several factors when it comes to the type and model of car being insured. Insurance premiums tend to be higher for sportier, flashier, luxury foreign cars. Five cars that insurance companies charge higher premiums for are the Audi R8, Mercedes CL600, Porches 911 Turbo, BMW 750, and the Jaguar XKR.
These are all European or originally European luxury cars with impressive horsepower to cruise the streets. The type of car driven is one of the biggest factors that determine car insurance premiums. Insurance companies take several details and factors into consideration when determining how to categorize different vehicles in different auto insurance price brackets. The frequency of the given car being involved in crashes, it’s depreciation rate, cost of repairs, the horsepower, and the cost of personal injury claims of those involved in crashes with that particular vehicle are considered.
The cost of repairs are a significant component of the premium formula as more luxury and high performance cars tend to have more expensive parts and materials involved in repair. The cars on this list tend to be in the forefront when it comes to luxury and high performance. Smaller cars also tend to be on the pricier side of the fence, as these tend to be involved in more crashes.
The mentioned five cars that are more expensive to insure are based on 2012 models for a typical middle aged male with a good driving record and modest coverage. In contrast, the cheapest vehicle to have insured is a Toyota Sienna with a typical yearly premium of only $1,100 a year. Minivans, which tend to be safer and more economic, tend to be on the cheaper side of insurance premiums.
First Car: The Audi R8 Spyder Quattro tends to top the list of most expensive mainstream vehicles to insure. This vehicle is a two-seater convertible that has a yearly premium that averages around $3,500 a year. This is an extremely high performance sports car made by the German luxury line of Audi and can cost well over $100,000.
Second Car: The Mercedes CL 600 is another German luxury car that is a 2 door coupe with a back seat. It competes with such cars as the Bentley Continental and BMW 6 series. It has a very stylish and sporty look and very maneuverable. It contains a 5.5 Liter V12 engine and can go from 0-60 in 4.5 seconds. The annual premium for this vehicle is just under $3,000.
Third Car: The Porsche 911 Turbo has a legendary following and has been around since 1963. It is a 2 door Grand Tourer with a rear engine and is a vehicle that is also of German decent. This vehicle can possess a 3.8 L engine with 400 horsepower and has an average annual premium of $2,700.
Fourth Car: The BMW 750 is the flagship 4 door full size sedan of the German company BMW and features a V8 400 horsepower engine. It averages $2,600 in annual insurance premiums.
Fifth Car: The Jaguar XKR features a 5 Liter V8 engine with 385 horsepower and averages $2,500 in annual premiums. These are all great vehicles that will turn heads and outperform most vehicles on the road. However, these cars feature high price tags and insurance premiums to go along with this luxury.