Are more expensive cars more expensive to insure?

As with any vehicle, you'll need state minimum liability coverage to drive a luxury car legally. Because you have a more valuable vehicle, you should expect to pay higher insurance premiums than you would for a regular car. Do you drive a luxury vehicle? Expect to pay more for insurance. Luxury, high-performance vehicles cost more to insure because they will have higher repair costs.

If you have an accident, it costs the insurance company more to repair your car. Cars with high-end safety and performance features, and with luxurious interiors, cost more to repair. And, if the car is wrecked in an accident, it costs more to replace it. You'll pay more for car insurance if you drive a luxury vehicle, such as a BMW or Mercedes Benz—that's how car insurance works.

Once you know the underlying methodology of auto insurance quotes, the list of the most expensive cars to guarantee isn't surprising. If your car is stolen or destroyed in an accident, the insurance company will issue you a check to replace it, and the larger that check, the higher your insurance rates will be. While some electric vehicles are cheaper to insure than others, many of the most popular electric cars are much more expensive to insure than a standard gasoline vehicle. Sports car drivers also tend to be younger than other drivers and have riskier behaviors, so insurance companies place these vehicles in the highest-risk category.

Electric cars are also often more expensive than their gasoline alternatives, meaning that the insurance company will have to pay more money to replace one due to a total loss. You may be able to afford the car itself, but the cost of insuring an expensive, luxury car could be too much for your budget. If repairing your car after an accident costs more, you should expect to pay higher car insurance rates. Policygenius has analyzed the auto insurance rates provided by Quadrant Information Services for each zip code in all 50 states, in addition to Washington, D.

Other factors may affect car insurance rates more than the vehicle, such as driving history and even credit. Three of the most expensive cars to insure this year are the Maserati Quattroporte, the Porsche Panamera Turbo S E-Hybrid Executive and the Audi RS e-Tron GT, for example. For example, if your auto insurance company has paid high-liability car insurance claims for your specific model for injuries to other people, this may affect your car insurance rate. In addition to selling your Maserati Quattroporte and exchanging it for a Honda CR-V (one of the cheapest cars to insure), here's how to get cheaper car insurance.

You compare the cost of insurance for up to 10 different vehicles, so you can narrow down your options before making a final decision about a car. The most expensive cars to insure are often the most expensive to repair or replace if you have a total loss. Luxury cars also tend to have expensive parts, meaning that repairing a luxury car that was damaged in an accident will cost significantly more than repairing an average family sedan.

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