The Most Expensive Cars to Insure in 2022
For most people, there are two major expenses in their budget: their housing and their vehicle. The car is usually the less expensive of the two, but it’s not just the vehicle’s base cost that you need to be aware of. Additional expenses like inspections, regular maintenance, and, of course, insurance can add hundreds or even thousands of dollars a year to your transportation budget.
While you can easily save money on car insurance with Compare.com, we know insurance is often the largest and most unavoidable of these extra payments. So, whether you’re looking to avoid choosing a car that commands sky-high insurance premiums or you’re just hoping to save a little money insuring your dream vehicle, you can find the information you need to make an informed decision right here.
Take a look at the most expensive cars to insure in 2022 before you go out and purchase your new vehicle. You might even use this list to see whether you’re already paying the average for car insurance and shop for a better rate.
Most Expensive Cars to Insure
The prices quoted here were given in 2022 for all vehicle model years 2017 and newer. It’s based on consumers who want to insure a single vehicle for a single driver rather than a multi-car or multi-driver policy.
With the idea that your insurance price could be different based on the year, the number of drivers, and (of course) your personal profile, take a look at the most expensive cars to insure.
1.) Dodge Charger: $239 per Month
2.) Honda Accord: $232 per Month
3.) Tesla Model: $227 per Month
4.) Dodge Challenger: $207 per Month
5.) Nissan Altima: $206 per Month
6.) Honda Civic: $198 per Month
7.) Nissan Sentra: $196 per Month
8.) Hyundai Elantra: $190 per Month
9.) Hyundai Sonata: $185 per Month
10.) Chevrolet Malibu: $184 per Month
Most Expensive Cars to Insure by Type
There may not be room to list every car that deserves to be mentioned for its higher than average car insurance cost, but it does make sense to note how the type of car you drive can matter as much as its specific model. Below you’ll find different types of vehicles and how much they cost on average for car insurance.
Convertible – $233 per Month
Given their reputation as leisure vehicles, it’s little surprise that convertibles top the list of most expensive car types to insure. Like the coupes that come in second, they’re frequently associated with fast and reckless driving—both of which make insurers likely to charge more.
Coupe – $217 per Month
The sporty two-door coupe is the second most expensive vehicle to insure. Why? For the same reasons the convertible comes in first. If you drive a coupe, insurers assume you’re a riskier driver than if you were to drive a minivan. While it’s true that you may participate in riskier driving activities, rates are also higher because it’s more likely to be stolen or broken into.
Sedan – $199 per Month
While the Dodge Charger tops our list of most expensive cars to insure in 2022, the four-door sedan—America’s favorite car body—is typically affordable to insure. This suits the average driver, and they pay an average premium for it.
Van – $177 per Month
The minivan is a family classic, and the more traditional full-size van is often driven by professionals who need space for hauling tools or supplies. Both driver types are less likely to be reckless, which puts the van solidly in the middle for monthly insurance costs.
Hatchback – $177 per Month
Hatchbacks aren’t restricted to a singular style. Instead, their defining feature is increased storage space offered to the back seats rather than a trunk. This design provides more storage space while being more attractive to families and executives. Just as they have a similar driver demographic to vans, their monthly premiums are similar.
Sport Utility Vehicle – $167 per Month
Sport Utility Vehicles, or SUVs, combine aspects of the typical passenger car with features of off-road vehicles. They’re also popular with families because of their size and added safety in conditions like snow and rain. Absent a teenage driver on the policy—the presumption is that they’ll be driven responsibly makes insurers comfortable with lower rates.
Station Wagon – $165 per Month
Station wagons may not be the most aesthetically pleasing cars on the road, but they’re reliable family vehicles and unlikely to be stolen. That and their inexpensive repair costs make them very affordable cars to insure.
Conventional – $161 per Month
Unsurprisingly, a conventional car means conventional rates compared to the sportier and more risky sports car. But, they still don’t stand up to the savings of the least expensive type of vehicle which is a good pickup.
Pickup – $141 per Month
Pickups are a solid, practical choice for responsible, reasonable drivers. Modern trucks are larger and more comfortable without losing their down-to-earth sense, which shows in their insurance costs.
Although these prices represent averages for vehicle styles, there are outliers. Some will cost more, some will cost less, and other common-sense insurance rules like used vehicles being cheaper also have exceptions. There are plenty of brand-new vehicle options that won’t cost as much as the used models in the list below.
Most Expensive Used Cars to Insure
These cars won’t cost quite as much because they’ve been used for several years. As time passes, they lose value in the insurer’s eyes, and they hold cheaper car insurance quotes overall.
- Dodge Charger
- 2017 – $213/mo
- 2018 – $256/mo
- 2019 – $189/mo
- 2020 – $244/mo
- 2021 – $299/mo
- Honda Accord
- 2017 – $210/mo
- 2018 – $224/mo
- 2019 – $245/mo
- 2020 – $233/mo
- 2021 – $285/mo
- Honda Civic
- 2017 – $185/mo
- 2018 – $197/mo
- 2019 – $194/mo
- 2020 – $187/mo
- 2021 – $241/mo
- Nissan Altima
- 2017 – $182/mo
- 2018 – $207/mo
- 2019 – $236/mo
- 2020 – $214/mo
- 2021 – $235/mo
- Dodge Challenger
- 2017 – $173/mo
- 2018 – $193/mo
- 2019 – $216/mo
- 2020 – $209/mo
- 2021 – $234/mo
- Nissan Versa
- 2017 – $151/mo
- 2018 – $158/mo
- 2019 – $168/mo
- 2020 – $164/mo
- 2021 – $227/mo
- Nissan Elantra
- 2017 – $204/mo
- 2018 – $174/mo
- 2019 – $180/mo
- 2020 – $177/mo
- 2021 – $224/mo
- Chevrolet Malibu
- 2017 – $182/mo
- 2018 – $173/mo
- 2019 – $189/mo
- 2020 – $201/mo
- 2021 – $214/mo
- Nissan Rogue
- 2017 – $158/mo
- 2018 – $154/mo
- 2019 – $153/mo
- 2020 – $154/mo
- 2021 – $213/mo
- Hyundai Sonata
- 2017 – $169/mo
- 2018 – $179/mo
- 2019 – $203/mo
- 2020 – $225/mo
- 2021 – $204/mo
If you’re interested in what the monthly premium for a vehicle outside this list might fetch, then you’ll have to do a little research on your own. Let’s explore some popular questions that customers of Compare.com have about the price of their premiums and the vehicles they drive.
Why Do High-Value Vehicles Cost More to Insure?
There is a direct connection between the price of insurance and the price of the item you wish to insure. First, high-value vehicles cost more to insure simply because they cost more to purchase. But, you may find that the insurance premium reflects more than just that cost. For instance, high-value vehicles may be made with higher-grade luxury materials. They may also have more features that require complicated internal frameworks. Some vehicles will even demand specialized care in the event of a claim.
In truth, insurance companies use many factors to determine rates and provide you with fair quotes—even when they turn out to be higher than average. Some of them are related to the car itself, while others concern the driver. As a rule of thumb, you can assume a more expensive item will be harder to replace and that those who drive luxury vehicles might be willing to take more risks than others.
How a Car’s Make and Model Affects Insurance Rates
When you look at the actual make and model of a car alone, you see a few different ways car insurance premiums can rise and fall. Among them, the most important are its age, size, trim, and safety rating.
A new car means new parts and more expensive insurance premiums. While there are some exceptions to this—like classic cars with expensive, difficult-to-find parts—it will hold across time. Even the best vintage cars will cost less to insure than something fresh off the lot.
On the downside, an older car continually decreases in value. Eventually, it’s not worth the cost to insure as even a minor collision could total the vehicle. Consumers looking to save money on insurance will want to find a balance between the extremes of new and old.
It’s a myth that smaller cars are cheaper to insure. Smaller vehicles are more difficult to see on the road, and many sportier cars are smaller so they’re statistically more likely to be involved in a collision. Because of this, smaller cars cost more to cover.
But, cost doesn’t simply go down the larger the vehicle is. Larger cars are less likely to take damage in an accident, and they’re also more likely to do damage. At the same time, they’re more challenging to work with in inclement weather and can lead to accidents with inexperienced drivers.
Because of this, the middle lane is best: the lowest insurance rates can be found with mid-size vehicles like sedans and compact SUVs.
Almost every new car is available in multiple trims. These can vary from the most basic and affordable package to all-in deals that include everything. You should know that for every additional feature, the cost of insurance is going to rise. It’s not a significant difference on some models, but a luxury package canl increase your insurance premiums by a few dollars a month, and that adds up in the long run.
While airbags and seatbelts have been fixtures in every new car for decades, new vehicles are increasingly beginning to come standard with high-tech options like blind-spot monitoring and side-collision warnings. While these features are undoubtedly popular with consumers who want to avoid accidents, they cut insurance rates depending on the company and your state of residence. You might find it helps, but some of these features are often computerized—making them more expensive and difficult to repair.
Still, a good safety rating on a vehicle can give you and your insurance company some peace of mind. Even insurance companies that don’t use the IIHS rating in their algorithms will factor in whether a particular make or model of car is frequently involved in insurance claims. A safer vehicle should, in theory, cost the company less on these incidents, possibly making insurance lower.
Do Cheaper Cars Cost Less to Insure?
Cheaper cars cost less to insure because they cost the insurance company less to repair and replace. Even if you don’t feel like going for the least expensive car on the market to save, you’ll find some great ways to reduce your insurance costs regardless of the type of car you’re driving below.
Why Are Certain Vehicles More Expensive to Insure?
If you think about how advanced some cars can be, how safe they can make driving, and how difficult they can be to steal—you might wonder why insurance companies bother to make them more expensive in the end.
Ultra-luxury vehicles unsurprisingly come with a price tag that reflects their value. The more a car costs to purchase, the higher the insurance premiums, and repairing an ultra-luxury car is no cheap endeavor. Expensive, top-quality parts and specialist technicians will cost you and your insurance company extra.
At the same time, a newer model will cost more to repair than the same model as a used car. As cars become more internally complex and reliant on computerized systems, this seems more true than ever. They need technicians trained not just in basic vehicle repair but in complicated engineering. This means more time—and money—put into training technicians, more time spent working on your vehicle, and more significant repair costs handed to the consumer and their insurance company.
Sports cars get a bad rap with insurance companies. They’re costly, the parts are not expensive, and because sports cars are more likely to be driven recklessly or too fast on the road, insurance companies frequently pay out on claims involving them. Any model with a reputation for reckless drivers may be backed up statistically. It’s also going to put insurance companies on alert and, consequently, add more digits on your bill.
While hybrids may be more common and less luxury, they’re still on the more expensive end to insure. Not only do they need specialized parts and technicians, they’re also likely to be driven on long commutes by consumers who hope to save on gas costs. This means they take more wear and tear and they’re more likely to need repairing. This doesn’t mean hybrids aren’t worth it, but those interested in purchasing one should carefully consider the possible downsides.
If you want to save money on insurance premiums, consider choosing one that doesn’t have a high probability of being stolen. The most stolen car models in the United States are listed by the Insurance Information Institute and NHTSA:
- Honda Civic
- Honda Accord
- Full-size Ford Pickups
- Full-size Chevrolet Pickups
- Toyota Camry
You’ll probably see right away that both the Civic and the Accord are on the list of most expensive cars to insure. This is part of the reason. They’re both top-rated vehicles and often stolen to supply consumer desire for parts. If you want help saving money on insurance, you may want to avoid those.
If you have your heart set on one of the models that costs more in monthly premiums, there are still some ways that you can save despite the risks to insurance companies and the yearly claims made that keep them on high alert.
The Best Type of Insurance for an Expensive Vehicle
While specific insurance does exist for luxury cars, it is typically only a money-saving option in particular cases. A more common option is to pay upfront. Like many other companies, insurance providers will sometimes offer discounts if you cover a whole year’s premium at once (or even six months). Similarly, auto pay and paperless options may come with small but, in the end, aren’t meaningful discounts.
Pay-as-you-go, or black box insurance, is an excellent option for drivers who don’t use their car often. An insurer tracks your driving and gives discounts based on how safe you are as a driver and how low your mileage is compared to the average. This can appeal to many people who only take their car out on special occasions. However, even if you still need traditional car insurance, you may also get discounts in other ways.
How to Save Money Insuring Expensive Cars
The ways to save on auto insurance are endless! Many insurance companies will offer multi-car discounts or reduced costs for bundling different types of insurance. Some insurers may also offer discounts for specific safety or anti-theft features. Another option is to take a defensive driving class or accident prevention course. They may grant a discount or reduce a previous cost increase based on a less than stellar driving history. Check with your insurance company to see if they participate.
If not, some drivers—like students, active-duty military, and members of specific organizations—may be able to get discounts through their involvement with these groups. Even employers may have deals with particular insurance companies for discounts. Check with your insurer to find out if any of these membership-based ways to save apply to you.
Without belonging to a particular group (like married couples), you might save if you’re the kind of person who likes to stick with one brand for the long run because customer loyalty discounts can save you up to ten percent on your premiums. It turns out that insurance companies care just as much about keeping customers as they do about who their customers are.
Ultimately, you want to develop a relationship with your carrier. Your best option for finding discounts like these is to speak with your insurance agent personally about the specific possibilities available. The most significant discounts offered by insurance companies are typically gained through how you drive rather than what you drive. Being a safe and accident-free driver can lower insurance costs by as much as one-quarter of your premium.
FAQs About the Most Expensive Cars to Insure
Which car has the highest insurance rate?
At $239 per month, the Dodge Charger has the highest insurance rate on our list of most expensive cars to insure.
What makes a car more expensive to insure?
Multiple factors go into the cost of insurance for any given vehicle, but typically the most significant influence is the driver’s record, followed by the make or model of the car and how expensive it will be to repair.
Are luxury cars expensive to insure?
The luxury title comes with a price tag of its own. On average, a luxury car will cost almost twenty percent more to insure than a more basic family vehicle.
Are expensive cars more to insure?
Yes. Expensive cars have expensive parts, which means collisions and repairs will cost an insurance company more. They may also be riskier to insure for several reasons like being heavily stolen or recklessly driven. Monthly rates reflect this.