Imagine you’re driving to work in your brand new red sports car. You’re weaving
in and out of lanes and laughing at the people you pass driving to work in their over-
sized, gas-guzzling SUVs.
Well, while laughing, think about this: although SUVs do spend more money on gas,
you’re probably spending much more on your auto insurance premium. According to the
Insurance Institute for Highway Safety, faster cars get into more accidents—particularly
when the person behind the wheel is a young and inexperienced driver.
As a whole, smaller cars (which, in turn, tend to be faster as well) are more attractive to
young car buyers, mainly due to the fact that these cars are likely less expensive when
compared to larger vehicles. However, younger drivers also seem to be a bit riskier on
the road, and use the small size of their vehicle to burn through traffic.
The Subaru Impreza WRX, the Mitsubishi Lancer, the Acura RSX, and the Nissan Sentra
SE-R are the vehicles with the highest collision rates, mainly because the drivers of these
cars tend to be younger, and the way they drive causes more accidents.
However, don’t expect every car on the list of ‘Most Expensive Cars to Insure’ to be
small, sporty vehicles. The #1 most expensive car to insure is the EXT
4WD. If you’re wondering why this would top the list when every other car is small,
sporty, and relatively affordable, the answer is simple: theft appeal.
The Cadillac Escalade is one of the most popular and most recognized car in its class. It
represents wealth, class, and style. Not only is this car looked favorably upon by older
generations, but also this is one of the hottest and most desired cars amongst the younger
generation. In addition, everything in an Escalade can be placed and attached into a
Suburban, making this car hot not only to all generations, but hot for thieves as well.
According to Bankrate.com, due to its desirability, Cadillac Escalade owners deal with a
comprehensive premium of six times the national average.
Fortunately, for those starting a family or thinking of starting a family, the cars
likely to have the lowest insurance costs are large sedans, mid-sized SUVs, or minivans;
namely vehicles ideal when traveling in packs.
The reason is simple; perhaps it’s because children are quite often in these vehicles, but
generally those driving family-car-like vehicles are less likely to be driving recklessly.
Additionally, one is less likely to use such vehicles as transportation to and from work,
therefore lowering the chances that it will be on the road during rush hour, a time when
the likelihood of accidents increase.
Other reasons these vehicles make the list of ‘Least Expensive Cars to Insure’ is because
many times these vehicles are kept in a private driveway or garage. Doing this lowers the
chances of theft, not to mention that these cars are deemed less desirable to thieves.
Still remember, however, that this list does not mean that the larger a vehicle is, the lower
the insurance costs will be. There are many vehicles that are so large that they cause
more damage on average to other cars when in an accident. For example, all models of
the Hummer are associated with causing higher damages in accidents, and because of
this, the auto insurance premiums tend to be more expensive.
10 Most Expensive Cars to Insure
1. Cadillac Escalade EXT 4WD
2. Subaru Impreza WRX 4WD
3. Hyundai Tiburon
4. Mitsubishi Lancer
5. Scion tC
6. Acura RSX
7. Nissan Sentra SE-R
8. Suzuki Forenza
9. Nissan Sentra/Mitsubishi Eclipse
10. Chevrolet Cobalt two-door
10 Least Expensive Cars to Insure
1. Ford Five Hundred 4WD (now the )
2. Buick Rendezvous 4WD
3. Buick Lucerne/Buick Rainier 4WD/Honda Odyssey
4. Ford Freestyle 4WD/Subaru Outback 4WD
5. /Honda Pilot
6. Chrysler Town & Country LWB
7. Honda Pilot 4WD
8. Buick LaCrosse/Chevrolet Uplander/Ford Escape/Volvo V70
9. Dodge Grand Caravan/ 4WD
10. Ford Explorer 4WD/GMC Sierra 1500 4WD/Toyota Highlander/Toyota Sienna.
In addition to comfort, resale value and gas mileage, it is important to find out exactly
how much that leased or purchased car is going to cost to insure. You may be in for a
rude awakening if that “perfect” car has insurance costs that make your eyebrows jump
off your head!
For more information or to obtain an insurance quote for your next car, go to InsuranceQuotes.com.