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Professor of Risk Management
25+ years in insurance
Former commercial lines underwriter
Updated
Luxury car insurance is coverage for high-end vehicles that cost more than the average car to buy, repair, and replace. Insurance for luxury vehicles typically costs more because insurers use your vehicle’s value and repair costs to determine rates. Luxury and exotic cars feature advanced technology and specialized parts, which drive up value and insurance costs.
Car insurance for luxury cars averages $167 per month, compared to an average of $146 per month for all vehicles. GEICO and State Farm offer the cheapest average rates for luxury cars.
We’ll break down how much luxury auto insurance typically costs, how to determine your coverage needs, and which insurers handle luxury vehicles best. We’ll also tell you practical ways to save on high-end car insurance without sacrificing coverage.
Luxury car insurance usually costs more than standard car insurance because high-end vehicles are more expensive to repair and replace.
GEICO currently offers the most affordable average rates for luxury cars, at $122 per month.
Coverage options like agreed value, original equipment manufacturer (OEM) parts, and higher liability limits matter more for luxury vehicles.
Most insurance companies cover luxury cars under the same standard car policy as average vehicles. But you can usually customize a standard policy to meet the specific needs of a high-end vehicle. Luxury cars are typically worth more than standard vehicles, and they’re packed with advanced tech and specialty parts that are expensive to fix or replace.
You may need higher limits or additional insurance coverage to fully protect your luxury car. With custom materials and hard-to-find parts, coverages like comprehensive and collision insurance become more important. And because insurers often assess risk differently, insurance rates and coverage options can vary widely from one company to the next.
Luxury car insurance costs can vary significantly because no two high-end vehicles are the same. In general, insuring a luxury car costs more than insuring an average vehicle, as they have higher repair costs and a greater theft risk. Your car’s trim level and optional features also affect insurance premiums.
Car insurance for a luxury vehicle averages $167 per month, while standard auto insurance costs an average of $146 per month.
Here’s how average rates compare among luxury car brands, according to our data.
Vehicle Make | Average Monthly Premium |
|---|---|
| Acura | $153 |
| Alfa Romeo | $194 |
| Audi | $178 |
| BMW | $185 |
| Buick | $126 |
| Cadillac | $162 |
| Genesis | $181 |
| Infiniti | $173 |
| Jaguar | $178 |
| Land Rover | $171 |
| Lexus | $158 |
| Lincoln | $144 |
| Maserati | $239 |
| Mercedes-Benz | $176 |
| Porsche | $180 |
| Tesla | $220 |
| Volvo | $137 |
| All luxury brands | $167 |
Next, we’ll explain the specific factors that influence luxury car insurance rates, how they affect what you pay, and the coverages you should consider to protect your car.
High-end vehicles are a valuable asset worth protecting. Paying extra for customizable luxury car insurance is worth it to protect your finances and limit your long-term risk if you damage or total your vehicle or if someone steals it.
Luxury vehicles typically are more expensive to repair and have hard-to-find parts. Higher limits and options like comprehensive insurance and agreed value coverage can help you make sure you have enough protection for your car.
Luxury car insurance rates vary by company because each insurer weighs factors differently. Things like your driving record, your vehicle’s value, repair costs, and theft rates all affect your insurance costs.
The following chart highlights the cheapest insurers for luxury cars, according to Compare.com data.
Company | Average Monthly Premium |
|---|---|
| GEICO | $132 |
| State Farm | $133 |
| Allstate | $148 |
| Progressive | $172 |
| American Family | $173 |
Compare rates from top insurers and get coverage you can trust.
Luxury cars come with risks and expenses that increase insurance rates. Specialized parts, powerful engines, and complex technology all play a role in how insurers price insurance for luxury vehicles. Below are the main factors that affect the cost of luxury auto insurance.
Luxury vehicles have higher price tags, which means insurers pay more when you crash your car or someone steals it. Repairs are also usually more expensive because you often need to go to a specific repair shop and use imported or proprietary parts. Even minor damage can lead to expensive claims.
High-performance engines and faster acceleration increase an insurer’s risk, even for responsible drivers. Insurers consider performance capabilities and horsepower when pricing policies.[1] Faster vehicles are more likely to cause or sustain severe damage in accidents, which increases the potential for expensive claim payouts.
Advanced safety technology can help prevent accidents, lowering risk and your insurance premiums. But sensors, cameras, and onboard computers are expensive to repair and often require recalibration after collisions, increasing overall claim costs and your rates.
Luxury cars are more attractive to thieves due to their value, parts, and resale potential. Where you live, how often you drive, and where you park your car all affect theft risk and, ultimately, your insurance premium.
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Luxury vehicles often need different coverage than less expensive cars. Below are some coverages you should consider as a luxury car owner.
High-value vehicle owners often have assets to protect. If you cause an accident, other drivers can sue you for the damages or injuries you cause. Having higher liability limits can protect your finances if you cause serious injuries or property damage.
Luxury vehicles are expensive to repair, even after minor damage. Comprehensive coverage can help cover non-collision claims, including theft, vandalism, weather damage, or hitting an animal. Collision coverage helps pay for damage to your luxury car after a crash, hitting an object, or a single-vehicle rollover.
Insurers can use aftermarket parts to repair your vehicle, as long as they are of like kind and quality. OEM parts coverage helps cover the extra cost of using original equipment manufacturer parts instead of aftermarket alternatives.
Luxury car owners may prefer OEM parts because they’re designed specifically for the vehicle, which helps maintain performance, appearance, and long-term value after repairs.[2]
Agreed value coverage locks in your car’s value up front. That means if you total your vehicle, you’ll get the agreed value rather than the current market value. Gap insurance is also beneficial if you finance or lease your vehicle. It covers the difference between what you owe on your loan and your car’s value if you total it.
Not every insurance company can handle luxury vehicles. Although price is important, factors like claims handling, access to certified repair shops, and coverage customization matter far more when you have a high-value, expensive-to-repair car.
Here are our picks for the best luxury car insurance companies.
| AM Best AM Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor). | A++ |
|---|---|
| Our Rating Compare.com's ratings are determined by our editorial team. The objective formula used in these reviews weighs several important factors to consider when choosing financial products and services, including customer satisfaction ratings, ease of use, and a number of other components. | 3.5 /5 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $120/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $223/mo |
Chubb is a top choice for high-end and luxury vehicles thanks to its white-glove claims handling and flexible coverage options. Plus, policies come standard with OEM parts and rental car coverage. The company’s optional add-ons include agreed value coverage and liability coverage limits of up to $10 million.
Chubb also offers classic car insurance for collector cars, with standard agreed value coverage and unlimited mileage.
Good claims service
Agreed value coverage available
SafeLane telematics program has limited availability
Fewer discounts available than some competitors
| User Reviews | 3.2 |
|---|---|
| Our Rating Compare.com's ratings are determined by our editorial team. The objective formula used in these reviews weighs several important factors to consider when choosing financial products and services, including customer satisfaction ratings, ease of use, and a number of other components. | 4.2 /5 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $129/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $204/mo |
Liberty Mutual's score | Industry average | |
|---|---|---|
| Coverage options | 4.1 | 3.2 |
| Customer service | 4.0 | 3.6 |
| Discounts | 3.8 | 2.9 |
| Policy transparency | 4.0 | 3.1 |
| Value | 3.8 | 2.9 |
Customers appreciate the excellent customer service and efficient claim processing but are frustrated with the high and consistently increasing premiums. Some also found the website difficult to navigate.
Liberty Mutual earns good customer reviews and ranks highly for claims service, making it a great choice for luxury car owners who want high-end service. You can customize your policy with coverages like better or new-car replacement, OEM parts, gap insurance, accident forgiveness, and a deductible fund to help you save on claims.
Highly customizable coverage
Large repair shop network
Some reports of claims issues
Agreed value coverage not available
| User Reviews | 4.3 |
|---|---|
| Our Rating Compare.com's ratings are determined by our editorial team. The objective formula used in these reviews weighs several important factors to consider when choosing financial products and services, including customer satisfaction ratings, ease of use, and a number of other components. | 4.1 /5 |
| Liability Only Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages. | $47/mo |
| Full Coverage Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible. | $88/mo |
Auto-Owners Insurance's score | Industry average | |
|---|---|---|
| Coverage options | 3.7 | 3.2 |
| Customer service | 3.7 | 3.6 |
| Discounts | 3.4 | 2.9 |
| Policy transparency | 3.8 | 3.1 |
| Value | 3.5 | 2.9 |
Auto-Owners is another great choice with high marks for claims satisfaction. You’ll have to work with an independent agent to get an insurance quote, who can help you tailor your policy to your specific needs. Consider add-ons like roadside assistance, gap insurance, trip interruption, and diminished value coverage. Auto-Owners also offers accident forgiveness.
Purchase price guarantee available
Above-average claims satisfaction rating
Available in only 26 states
Quotes not available online
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Luxury cars cost more to insure, but here are some tips to help you save on your policy:
Consider your mileage. If you only drive your vehicle on weekends or seasonally, you might qualify for a low-mileage discount. You might also save money with a pay-per-mile insurance policy.
Bundle policies. Combine your car, umbrella, and home insurance with the same company to save up to 25% with a multi-policy discount.
Install anti-theft and tracking devices. Deterring theft and making it easier to find your vehicle if someone steals it can lower your premiums and qualify you for an anti-theft device discount.
Shop around with specialized insurers. Compare insurance quotes from multiple insurers that specialize in luxury or high-value vehicles. Shopping around is the best way to make sure you get the best price for your coverage.
Get the best coverage for your luxury or exotic vehicle.
Luxury car insurance can be confusing, especially for first-time owners. We answered some common questions people ask about insuring luxury vehicles. Check them out below.
Chubb, Liberty Mutual, and Auto-Owners top Compare.com’s list of the best insurance for luxury cars. But the best car insurance company for you depends on your vehicle and budget. Look for insurers that are financially stable, have strong claims satisfaction, offer OEM parts coverage, and have experience with luxury and high-value cars.
Yes. Luxury cars usually cost more to insure. Luxury vehicles are worth more, use specialized parts, and have a higher theft risk, making them more expensive to repair and replace.
Luxury car insurance costs an average of $167 per month, according to Compare.com data. But your rate will vary depending on factors like your location, driving record, vehicle value, and coverage choices.
Buick is the cheapest luxury car brand to insure, averaging $126 per month, according to Compare.com data. But how much you pay for car insurance depends on various factors, like your location, age, and the car you drive.
Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.
All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.
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Professor of Risk Management
25+ years in insurance
Former commercial lines underwriter
At Compare.com, it’s our mission to give you the tools to find the best (and most affordable) insurance for your unique needs and budget. We strive to provide information that’s helpful, clear, and unbiased, and we believe that comparing insurance companies should never put you at risk of spam. Our editorial team — which is made up of experienced writers, editors, insurance agents, and data analysts — has spent thousands of hours researching and creating the coverage overviews, side-by-side comparisons, and detailed reviews you see across our site.
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