LATEST NEWS
What are the most expensive cars to insure in 2023?
Expensive or high-performance cars may have higher insurance premiums due to higher repair costs. What are the most expensive cars to insure this year?
Car insurance premiums can go up due to various factors, many of which are related to risk assessment and statistical probabilities. Insurance companies use these factors to determine the likelihood of a policyholder filing a claim and the potential cost of that claim.
The make, model, and age of your vehicle can influence the price of your premiums. Expensive or high-performance cars may have higher premiums due to their increased repair costs. However, the price tag of a vehicle is not the only factor that insurance companies consider when calculating annual insurance premiums.
It’s wise to check how much it would cost to pay for car insurance when looking to buy a new ride, as these premiums could greatly inflate the cost of maintaining your car.
What are the most expensive cars to insure in 2023?
According to automotive media outlet MotorTrend, the following vehicles have the highest insurance premiums this year. There are SUVs, coupes, an electric car, and a hybrid on the list. Many of them come from automotive brands that need deeper pockets.
However, the priciest car to insure for 2023 has a low price relative to the other vehicles on this list. In fact, the car sitting at the top of the list has the lowest price tag among the top 10 and is also the most common. The Dodge Charger SRT Hellcat Redeye Widebody may not be that expensive to buy, but it’s costly to insure because the muscle car often figures in stoplight burnouts and drag races.
- Dodge Charger SRT Hellcat Redeye Widebody: $5,330 per year.
- Nissan GT-R Nismo: $5,263 per year.
- Dodge Challenger SRT Super Stock: $5,181 per year.
- Porsche 911 Sport Classic: $5,181 per year.
- Audi R8 V10 Performance Spyder: $5,127 per year.
- Porsche Panamera Turbo S E-Hybrid: $5,045 per year.
- Porsche Taycan Turbo S: $4,774 per year.
- Land Rover Range Rover SV: $4,735 per year.
- BMW M4 CSL: $4,598 per year.
- Porsche Cayenne Turbo GT: $4,530 per year.
Finance news website MarketWatch also has Dodge at the top of its list of most expensive car brands to insure last year.
- Dodge- Average cost to insure a 2022 Dodge model: $354 per month or $4,242 per year.
- Tesla- Average cost to insure a 2022 Tesla model: $251 per month or $3,007 per year.
- BMW- Average cost to insure a BMW: $195 per month or $2,337 per year.
- Lexus- Average cost to insure a Lexus: $189 per month or $2,273 per year.
- GMC- Average cost to insure a 2022 GMC model: $184 per month or $2,207 per year.