There's no greater feeling for a car owner than when you drive away from the dealership with a new toy. It could be your first car that you've been saving up for for a while. Car expenses don't stop at the buying stage, however. There are other costs that new car owners might overlook because of excitement. Insurance costs take up a big chunk of car costs, and the price you pay varies with the vehicle you buy.
There are cheap cars with very high insurance costs, while there are expensive cars with affordable options. There are optional covers that may inflate the price of the insurance in the long run. The reason why luxury sports cars are expensive to insure has nothing to do with their prices. It's because these cars have the ability to accelerate quickly, which put them more at risk than normal cars. Insurance companies factor this as one of the reasons for the high prices.
There are variables that go into determining the cost of insurance. We won't go into detail, but we can summarize it for you. The insurance company will look at the model and make of the car. The risk propensity of it being vandalized is another major factor they look at. The vehicle's overall safety ratings are also factored in when coming up with the cost of Insurance. Insure.com acquired 50 quotes for 2,800 cars from the top Insurance companies, and these are the 10 most expensive and the 10 cheapest cars to insure.
20 EXPENSIVE: Audi R8 5.2 V10- $3,267
The Audi R8 has been a success since it was launched by the company in 2008. The car has sold more numbers in Europe than in the United States. One of its outstanding features is its blistering acceleration, as it can go from 0 to 60 in 3.5 seconds.
The improved interior quality is class-leading for a supercar, which is typical of what you'd find in a high-end Audi vehicle.
The car does have its own shortcomings, which makes some people go nuts when they see the insurance quote. There's no manual transmission, and this could be a deal breaker for those who love the stick. Some people have complained of the outward visibility, which Audi has downplayed as a subjective opinion.
19 EXPENSIVE: Nissan GT-R Nismo- $3,313
The Nissan GT-R doesn't come cheap. The 2015 model costs $150,000 for a base trim. This is one of the reasons why the insurance cost is very high. The car has been in production since 2007, and every year, there's a new model coming out, which is more expensive than the previous one.
The 2017 model has an attractive new interior and offers exceptional acceleration and handling.
It has neck-snapping launch control, which makes it an exquisite sports car. Even with this superior styling cues and interior, the GT-R has a couple of shortcomings. Reviewers and customers have complained that the car seating upfront position is uncomfortable. This is unacceptable for a car that costs $174,000 without factoring in insurance and other costs.
18 EXPENSIVE: Mercedes-Benz AMG SL65- $3,322
The Mercedes-Benz SL65 is estimated to cost $219,000 and is available only in the convertible trim. Repairs and maintenance cost a rough estimate of $1,400, which is very expensive for a 2-seater car.
The roadster has a rear-wheel drivetrain with a 7-speed automatic and W/OD auto-manual transmission. Under the hood, you get 6.0-liter V12, which is capable of producing up to 621 hp.
The car can go from 0 to 100 in 4 seconds and is electronically limited to a top speed of 250 km/h. The high-gloss chrome makes for a premium exterior. The interior adorns leather sports seats with soft-touch finishing on the dashboard and the door panels. The insurance cost could be justifiable given what you're getting from the vehicle.
17 EXPENSIVE: Mercedes Maybach S600- $3,355
The S600 isn't your ordinary Maybach. The price starts at $191,000 and has been touted as the current face of the Maybach franchise.
To say the interior is luxurious would be an understatement, as it doesn't describe it appropriately. There are hot-stone-style massage chairs, which are meant to make the passengers relax.
For effortless motivation, the Maybach S600 has 6.0-liter twin-turbo V12 engine with a total output of 463 hp. Fuel economy isn't that great, as you get 16 mpg in the city and 25 on the highway. The car has a top speed of 131 mph and can go from 0 to 60 in 4.7 seconds. If you're getting this car, then you can comfortably afford the $3,355 insurance.
16 EXPENSIVE: Mercedes-Benz AMG C43- $3,418
This is another Mercedes convertible on the list, and the insurance doesn't come cheap. This car is priced at $60,000 which is surprisingly cheaper than the SL65, although it costs more in insurance.
The car might be in a small 2-door package, but it packs a punch when it comes to performance and reliability. The C43 includes an upgraded suspension that has adaptive dampers.
When it comes to the interior, there are supportive leather seats, which are extremely comfortable. There's plenty of leg and headroom despite the AMG C43 being a small car. It has a 3.0-liter twin turbo V8 engine, which produces 362 hp and 384 lb-ft of torque. The car has a top speed of 131 mph and can go from 0 to 60 in 3.4 seconds.
15 EXPENSIVE: Mercedes-Benz S550- $3,502
If we learned anything from the list so far, it's that Mercedes-Benz cars are expensive to insure, especially if they're convertibles. The price might not be very expensive, but the insurance will cost you a fortune in the long run. The S550 has a base price of $96,000 and can go all the way up to $170,000.
There have been 7 recalls for the car so far, although they're nothing much major to worry about. The repair and maintenance cost is around $1,400 a year. In terms of numbers, the car has a 4.7-liter V8 premium engine, which can produce up to 449 hp. It comes with a 9-speed automatic transmission and can go from 0 to 60 in 5.4 seconds.
14 EXPENSIVE: Maserati Quattroporte -$3,547
The Maserati Quattroporte is by no means a cheap car, as the base trim costs $103,000. The high insurance could be due to the fact that it's a rare car and that there aren't a lot of parts and accessories readily available.
The Quattroporte stands out when you compare it with other 4-door sedans, in particular, when it comes to performance. The exterior has an unusual and novel shape for a 4-door sedan. It has a 3.0-liter V6 matched engine with an 8-speed automatic transmission.
The Maserati Quattroporte might not be light, but it beats a lot of its competitors like the Mercedes S550, which is 540 pounds heavier. The car has a top speed of 190.7 mph and can go from 0 to 60 in 4.7 seconds.
13 EXPENSIVE: Mercedes-Benz AMG S 63- $3,624
If you've been thinking of getting a Mercedes, you might want to reconsider because the insurance costs aren't for everyone.
The AMG S63 is the fourth Mercedes on the list, and it also happens to be a convertible. If it's a must you get a Mercedes, don't go for the convertible because as we've seen, they attract high insurance costs. To pay $3,624 for insurance is way too expensive and isn't necessary if you're financing the car with a loan.
Having said that, the S63 is a fantastic car, and prices start at $144,000 for the base trim. It has a 5.5-liter V8 engine, which produces 555 hp. It's also an all-wheel drive, which can come in handy if you want to experience the car's off-road capability.
12 EXPENSIVE: Dodge Viper- $3,799
The Dodge Viper has the exterior of a $1 million car, although you can get it for $95,000, which might still not be affordable to a lot of people. There was a time Chrysler had considered discontinuing the Dodge franchise due to financial difficulties but decided against the idea.
The car doesn't come cheap and neither does the insurance. The history of the car can be traced back to 1995 when the first supercar was produced. There have been a couple of models after that, and the insurance cost has been going up for every new model.
In terms of numbers, the new Dodge Viper has a top speed of 208 mph and can go from 0 to 60 in 3.5 seconds. It has an 8-liter V12 engine with a max output of 645 hp.
11 EXPENSIVE: Mercedes-AMG S65 Convertible- $3,825
The most expensive car to insure on the list had to be a Mercedes-Benz convertible. The AMG S65 convertible is also the most expensive car on the list, as it costs $247,900. There's a correlation between the price of the car and the insurance cost, although it's not always the case.
The exterior design might not have been changed a lot compared to the coupe. The only change would be the multibeam headlights installed in the fascia. You still get the V12 engine under the hood with a total output of 630 hp. The car is capable of going from 0 to 60 in 4.2 seconds.
The interior is a mix of high-tech and sophistication and strikes the right balance in what you'd expect in a modern luxury vehicle.
10 CHEAP: Subaru Forester 2.5i- $1,196
Starting off with the cheapest cars to insure is the Subaru Forester 2.5i. Most Subaru cars are built to last with little maintenance. The Forester is a genuine crossover that costs just over $23,000.
It comes standard with a 2.5-liter engine that produces 170 hp. There's a continuous variable automatic and a 6-speed manual when it comes to transmission.
The 2.5i, just like most Subaru Foresters, comes with 4-wheel drive. The 2.5i is one of the 6 trims that come with the Subaru Forester. The Forester is big and spacious enough for a family car, and you can still take it off-road to experience its raw power. The repair and maintenance costs are low, and you don't have to break the bank to pay for insurance.
9 CHEAP: Jeep Patriot Sport- $1,190
The Jeep Patriot Sport is everything you'd ever want in a reliable crossover SUV. The car has been in production since 2007 and has received a couple of facelifts since then. There have been a total of 956,097 sold as of 2017, with the majority of them being bought in the United States.
The Jeep Patriot has a starting price of $19,000, which makes it one of the cheapest cars on the list.
It does offer impressive numbers even with the entry-level price. You get a 2.4-liter 4-cylinder engine, which produces 172 hp. For transmission, you can choose either the CVT, the 6-speed automatic, or the 5-speed manual. The car might not be very comfortable to drive in the city, but the joy is in taking it off-road.
8 CHEAP: Buick Encore -$1,190
The Buick Encore ties with the Jeep Patriot Sport when it comes to insurance costs. However, this car has a far, far better interior comfort and exterior design than the Patriot Sport. The price starts at $22,900 and can seat 5, which makes it a perfect family car.
The sporting trim is the most expensive, costing $25,000. The additional features include 18-inch aluminum-alloy wheels, remote vehicles access, and fog lights.
The interior offers comfortable heated leather seats, and you also get Wi-Fi. The seats can fit 3 people perfectly, giving plenty of leg room. The cargo area is also spacious and can be increased by folding the seats. It has a 5-star safety rating, probably contributing to the low cost of insurance.
7 CHEAP: Jeep Cherokee Sport- $1,188
You can never go wrong with a Jeep if you're looking for a vehicle that's easy to maintain and can last for a very long time.
The car has been in production since 1974 and has been consistent in terms of quality and durability for over 40 years. The 2013 model took a whole new approach in terms of exterior design. It had a controversial front grille, which wasn't typical of a Jeep Cherokee.
The controversial front grille styling didn't stop the 2013 model from being one of the most successful in terms of sales. Despite being cheap with insurance, the Cherokee Sport is also good with fuel economy. You can get 18 mpg in the city and 26 on the highway. The car has a starting price of $25,000.
6 CHEAP: Subaru Outback 2.5i- $1,187
A Subaru is a good car to own, and the Outback 2.5i will save its owner a couple of hundred dollars in insurance costs. The Outback 25i trim starts at $25,895. The car has excellent fuel economy, as you can get 25 mpg in the city and 35 on the higher.
The Subaru Outback is a big and comfortable 4X4 and can be used for daily driving. Anyone who's bought a Subaru would eventually want to take it off-road, and the Outback will never disappoint.
If you're an outdoor person, then you'll love the hefty roof rack, which can be used to store bikes and kayaks if you're short of space in the trunk. The Outback features a 2.5-liter engine with 175 hp.
5 CHEAP: Jeep Compass- $1,183
The Jeep Compass is now in its second generation ever since it was introduced in the year 2007. The second-generation Jeep Compass made its debut in 2016.
Its easy-to-swallow price, sharp looks, and affordable insurance make the Jeep Compass a good car. The price starts at $20,935, although you'll have to pay more to get the luxurious updates that are available.
The compass has a 2.4-liter inline-4 engine, which produces 180 hp. In terms of transmission, you can pick between the 6- or 9-speed automatic or the 6-speed manual. The interior is a throwback to the first-generation model with rugged seats. The dashboard is made of hard-touch plastic. The Jeep compass prioritizes reliability above everything else and may not be the ideal choice if you're looking for comfort.
4 CHEAP: Honda CR-V- $1,170
The Honda CR-V might not have a popping design but is one of the most reliable cars to ever come from Honda. It's cheap to maintain and has a large cabin, which is perfect for a family vehicle.
The base price starts at $24,000, and the exterior doesn't look that bad for the 2017 model. The vertical angular design is a big improvement over the predecessor. The car might not be as thrilling and exciting to drive like the competition, but it does offer safety features that are essential in a family car.
The overall interior space in the new Honda CR-V is perfect with the rear seats taking the cherry when it comes to legroom and comfort. This is a result of the new stretched wheelbase.
3 CHEAP: Jeep Wrangler Black Bear- $1,148
The Jeep Wrangler is one the most famous off-road vehicles in the world. It was specifically built for rugged terrains, and it would take a lot of beating to break it down.
The insurance cost might come as a surprise to many because of the nature of the vehicle. Insurance companies must've factored in reliability and longevity when they were determining the cost. There's plenty of cargo room for your outdoor adventure.
This 4-seater has a base price of $23,955, which is reasonable for the average consumer. It might not be the perfect choice of vehicle if you're planning to use it for your daily driving. The highway noise, in particular, can be a nuisance, and there's no refined handling.
2 CHEAP: Jeep Renegade Sport- $1,138
The Jeep Renegade is the perfect compact SUV if you're looking for something sporty that can also be used as a daily driver. If you also want to push off-road boundaries, the Renegade Sport has got you covered.
The car has a base price of $18,845. This, coupled with the insurance cost, makes the Jeep Renegade Sport a firm contender for the best Compact SUV to buy if you're on a budget.
The delightful and subtle design cues make for a good exterior. The level of cabin quietness is unusual for an SUV in its class. The upper door trim is made of hard-touch plastic, which might be a dealbreaker for some people. Overall, the Jeep Renegade sport is worth buying if you're looking for a reliable and affordable car.
1 CHEAP: Honda Odyssey LX- $1,112
The Honda Odyssey has, over the years, redefined how a family van should look like. Honda saw the potential in the niche and decided to go all out with the LX. The base price is $29,000, which is fair, and the car has the cheapest insurance cost on the list.
The new model features a complete redesign with 19-inch alloy wheels and is the perfect minivan for family adventures.
The Honda can fit a family of 7 with plenty of legroom available. The hands-free power tailgate is a great feature, which comes in handy when all your hands are occupied when you've gone shopping. The infotainment system is also exceptional. The kids can be entertained with a screen at the rear seats. You can also keep an eye on them through the Honda cabin watch. The Honda Odyssey is your best bet if you're looking for a family vehicle that's affordable and doesn't burn the pocket when paying for insurance.
Source: cars.com; insure.com; wikipedia.org