For most of us, insurance rates play a small role in choosing which car to lease or buy. Instead, color, options, and gas mileage tend to be much more of a factor than insurance premiums.
However, because insurance can be a surprisingly large portion of a vehicle’s total cost of ownership, it’s more important than many of the fun aspects of vehicles that buyers focus on.
Expensive cars are even more costly when one factors in insurance costs. That's the conclusion of Quadrant Information Services, a Nashville-based insurance data provider, who compiled an annual car insurance comparison study for Insure.com.
After all, cars like the Mercedes-Benz CL600, number one on the “most expensive 2013 vehicles to insure” list, can cost owners a whopping $3,300 per year in auto insurance premiums.
Mercedes-Benz is all over this list, as they took up 11 of the top 20 positions. A number of Porsche, Jaguar, and BMW models also proved expensive to insure.
People who choose to drive the 2013 Ford Edge SE, on the other hand, are likely pleased with the cost of their car insurance. How could they not be, when they pay on average around $1,100 per year to insure their vehicle?
Those who drive various Hyundai, Jeep, and Subaru vehicles should feel good about their cars’ insurance costs too, as several of these automakers’ models also cost less than $1,200 per year to insure. If you drive one of these cars, and pay much more for insurance, there may be other factors at play. Check out our list of rate factors for more information.
Here is a bit more information about those 10 vehicles, including their average insurance rates:
Top 10 Least Expensive Vehicles to Insure
|Rank||Make and Model||Avg. Cost|
|1||Ford Edge SE||$1,128|
|2||Jeep Grand Cherokee Laredo||$1,148|
|3||Subaru Outback 2.5i Premium||$1,150|
|5||Jeep Patriot Sport||$1,160|
|6||Chevrolet Express 1500||$1,171|
|7||Subaru Outback 3.6R||$1,180|
|8||Hyundai Tucson GLS||$1,189|
|10||Hyundai Tucson GL||$1,204|
Ten other 2013 vehicles that Quadrant found to be fairly inexpensive to insure included:
- Dodge Grand Caravan SXT
- Ford Transit Connect XLT Premium
- Chevrolet Equinox 1LT
- Honda Odyssey EX-L
- Jeep Compass Sport
- Kia Sorento LX (2 WD)
- Nissan Pathfinder S
- Chevrolet Equinox 2LT
- Honda Fit
- Kia Sorento LX (4 WD)
Top 10 Most Expensive Vehicles to Insure
|Rank||Make and Model||Avg. Cost|
|2||Mercedes-Benz CL65 AMG||$3,330|
|3||Mercedes-Benz S65 AMG||$3,221|
|4||Mercedes-Benz SL65 AMG||$3,207|
|5||Mercedes-Benz CL63 AM||$3,184|
|7||Mercedes-Benz SL63 AMG||$3,075|
|8||Mercedes-Benz S63 AMG||$2,978|
|9||Porsche 911 Turbo||$2,958|
|10||Porsche 911 Turbo S||$2,925|
Mercedes-Benz and Porsche are joined by BMW and Jaguar when this list is expanded to cover the 20 most expensive vehicles to insure. The following are the specific cars that Quadrant cited:
- Porsche Panamera Turbo
- Mercedes-Benz CL550 4Matic
- Jaguar XKR (convertible)
- Jaguar XKR (coupe)
- Jaguar XK
- BMW 650i
- Mercedes-Benz SL550
- Porsche 911 Carrera 4S
- Mercedes-Benz S550
- Porsche 911 Carrera S
As these lists prove, car make and model have a huge impact on insurance rates. The priciest car to insure, the Mercedes-Benz CL600, is about three times as much to insure as the cheapest vehicle, the Ford Edge SE.
The next time you’re shopping for a car, don’t forget to factor in insurance costs, and remember, QuoteWizard will provide you with competing quotes from insurance companies to help you narrow down your choices, decide on a vehicle, and save money on insurance.