10 Car Brands That Are the Most Expensive To Insure — Most Are Not Luxury Brands
FCA US LLC / Dodge
There are a number of factors that could make a car more expensive to insure. Of course, insurance for high-priced luxury car brands is typically harder on the budget[1], but sticker price is not the only factor. Cars that contain powerful engines can be more expensive to insure, as drivers may be more likely to speed. And cars that contain more high-tech features are also pricey to insure, as they are more expensive to repair.
Here’s a look at the 10 most expensive car brands[2] to insure, as identified by MarketWatch Guides.
Be Aware: I’m a Mechanic: These 4 Cars Have Engines That Could Die on You[3]
Try This: 6 Unusual Ways To Make Extra Money (That Actually Work)[4]
FCA US LLC / Dodge
1. Dodge
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Dodge cars are known for their power and speed, which can be a red flag for insurers.
Learn More: 5 Car Brands With the Most Reliable Engines[5]
©Tesla
2. Tesla
Teslas are high-tech electric vehicles, and their repairs can be quite expensive due to the price of replacement parts.
Explore More: I Have Driven Over 250 Car Models: These Are the 3 Best and Worst for Your Money[7]
©BMW
3. BMW
Luxury car brands are typically more expensive to insure, so it’s no surprise that BMW is on this list.
©Lexus USA Newsroom
4. Lexus
Although Lexus vehicles are known to be safe, their high prices make them expensive to insure.
[email protected] / GMC
5. GMC
If you have a GMC vehicle, be prepared to pay a premium to insure it.
Find Out: 4 Affordable Car Brands You Won’t Regret Buying in 2024[8]
Stellantis / © 2023 Stellantis
6. Ram
The popular pickup truck maker may be more expensive to insure due to higher accident risk. MarketWatch Guides reported that pickup trucks are more likely than cars to be involved in fatal single-vehicle crashes, such as rollovers.
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Nissan / Nissan
7. Nissan
Two particular car models may be to blame for Nissan’s higher insurance costs. The Nissan GT-R is known for its speed, which can be a crash risk, while the Nissan Leaf, an EV, is expensive to repair.
David Dewhurst Photography / Hyundai
8. Hyundai
Hyundais are a popular target of car theft, which is why they are pricey to insure.
For You: 9 Most Reliable Cars To Buy Used in Summer 2024[9]
©Kia
9. Kia
Kias are also popular targets of car theft. The Highway Loss Data Institute found that theft claims for vehicles built by Hyundai and Kia are twice as common as with all other manufacturers combined.
©Toyota
10. Toyota
The cost to insure a Toyota is about 13% higher than the national average, according to MarketWatch Guides.
Insurance cost data is sourced from MarketWatch Guides[10] and is accurate as of April 11, 2024.
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This article originally appeared on GOBankingRates.com: 10 Car Brands That Are the Most Expensive To Insure — Most Are Not Luxury Brands[11][12]
References
- ^ budget (www.gobankingrates.com)
- ^ most expensive car brands (www.gobankingrates.com)
- ^ I’m a Mechanic: These 4 Cars Have Engines That Could Die on You (www.gobankingrates.com)
- ^ 6 Unusual Ways To Make Extra Money (That Actually Work) (www.gobankingrates.com)
- ^ 5 Car Brands With the Most Reliable Engines (www.gobankingrates.com)
- ^ Car Experts Say Don’t Buy These 7 SUVs That Cost the Most Money Over Time (www.gobankingrates.com)
- ^ I Have Driven Over 250 Car Models: These Are the 3 Best and Worst for Your Money (www.gobankingrates.com)
- ^ 4 Affordable Car Brands You Won’t Regret Buying in 2024 (www.gobankingrates.com)
- ^ 9 Most Reliable Cars To Buy Used in Summer 2024 (www.gobankingrates.com)
- ^ MarketWatch Guides (www.marketwatch.com)
- ^ GOBankingRates.com (www.gobankingrates.com)
- ^ 10 Car Brands That Are the Most Expensive To Insure — Most Are Not Luxury Brands (www.gobankingrates.com)