The Most Expensive Cars to Insure in 2024

Car prices are so high that some models rival mortgage or rent payments. Auto insurance premiums only add to the burden — how much depends in part on the type of vehicle you drive. Your car’s make and model play a role in how much you pay for car insurance. But insurers look at many other factors when setting rates — your age, driving record, and location are just a few.

The Infiniti Q50, Toyota Supra, and Dodge Charger are the most expensive cars to insure, according to Compare.com data, but you can still find ways to keep your insurance costs down. In this article, we explain why auto insurance costs more for some cars and how you can save on your premiums.

Key Takeaways:

• The Infiniti Q50 is the most expensive car to insure, with average rates of $228 per month.
• Luxury and high-performance vehicles, cars with advanced technology, and vehicles with higher theft rates are more expensive to insure.
• The cheapest car to insure is the Subaru Forester, with an average premium of $124 per month.

The 10 Most Expensive Cars to Insure

Auto insurance rates can vary dramatically depending on the make and model of your vehicle. The average car insurance premium across all vehicles is $135 per month, according to Compare.com data. Likewise, the average price for a new car is $47,218, according to Cox Automotive, and insurance costs for more expensive cars can exceed the national average.

Pricier vehicles tend to have more expensive claims — they cost more to repair or replace — so insurers charge higher rates to offset the risk.

The table below lists the 10 most expensive vehicles to insure and their average monthly premiums and MSRPs, according to Compare.com data.

Let’s take a closer look at the top three most expensive vehicles to insure — Infiniti Q50, Toyota Supra, and Dodge Charger — and why they’re riskier to insure.

Infiniti Q50

• Average monthly premium: $228
• 2024/2025 MSRP: Starting at $43,050

The Infiniti Q50 has the highest monthly premium of all vehicles, with an average premium of $228 per month, according to Compare.com data. It’s a luxury sedan known for its performance and technology and comes with a 300- or 400-horsepower engine — it’s expensive and meant to go fast.

But its high performance and speed mean there’s a higher risk of accidents and costlier repairs. Though Q50 owners spend less on maintenance and repairs in the first 10 years of ownership than is standard for luxury sedans, the average cost is still high, at $8,447, according to CarEdge.

The relatively high risk of theft also drives up insurance rates, according to a report by the Highway Loss Data Institute (HLDI).

Toyota Supra

• Average monthly premium: $223
• 2024/2025 MSRP: Starting at $46,440

With a starting MSRP of $46,440, the Toyota Supra is among the most expensive vehicles to insure. The average car insurance premium for a Toyota Supra is $223 per month.

The Supra is a midsize sports car, which means speed and repair costs combine to drive up car insurance rates.

The good news for potential owners is that Supras need fewer repairs than the average coupe in the first 10 years of service, according to CarEdge. The Supra is also prone to theft, which plays a role in its higher insurance premiums. But it’s less prone to theft than other vehicles in its category, like Mustangs and Corvettes, according to the HLDI.

Dodge Charger

• Average monthly premium: $221
• 2024/2025 MSRP: Starting at $35,325

Though the Dodge Charger has a lower starting MSRP and average monthly premium than the Supra and Q50, it has higher theft rates, which increases auto insurance rates. In fact, the Charger SRT Hellcat model has the highest rate of theft — more than 60 times the average for all passenger vehicles, according to the HLDI.

Dodge Chargers are also more expensive to maintain compared to the industry average for popular sedans, and it’s more likely than average to need a major repair in the first 10 years of service, according to CarEdge.

Why Some Cars Are More Expensive to Insure

Car insurance companies charge different rates based on risk and the potential for claims. Some vehicles are more expensive to insure for the following reasons:

• Higher price tags: High-value and luxury vehicles cost more to repair and replace, so insurance companies charge higher rates because of the potential expenses that come with insuring these vehicles.
• Complex safety equipment: Cars with certain safety features, such as parking assist, automatic emergency braking, lane-departure warnings, and blind-spot warnings, make a car accident less likely, but increasingly complex advanced safety features can also lead to higher repair costs.
• Elevated theft risk: Some cars are easier to steal or simply more desirable to thieves. For example, cars with custom parts and catalytic converters are often the targets of thieves. A high theft rate makes your car more costly to insure because it’s more likely that your insurer will have to pay out the car’s actual cash value to you.
• Advanced performance and technology: Cars with high-performance engines and advanced technology are more expensive to insure because they attract drivers who tend to speed, which raises the likelihood of car crashes and claims. They’re also more expensive and difficult to repair.

In the section below, we’ll look at the most expensive brands to insure.

10 Most Expensive Car Brands to Insure

While some manufacturers offer a range of models that cater to a variety of budgets, others focus on more high-end product lines. Many of the most expensive brands to insure are in the latter category.

The table below highlights the 10 most expensive car brands to insure and the monthly premiums for each, according to Compare.com data.

Tesla, Infiniti, and Dodge are the most expensive brands, according to our analysis. Tesla — the top electric vehicle manufacturer on the market — is No. 1 on the list, with an average monthly rate of $206, according to Compare.com data.

Electric vehicles have complex systems, so replacement parts can be hard to come by. It can also be difficult to find a shop to complete the repairs. Those challenges, and the high price of some models, make Tesla the most expensive brand to insure.

Infiniti and Dodge tie for second place. But Dodge’s lineup of muscle cars — the “drag-racing-focused” Challenger and the Charger — contributes to high insurance premiums. In terms of insurance risk, the Charger SRT Hellcat is among the top 10 vehicles with the highest collision losses, according to the Insurance Institute for Highway Safety (IIHS).

10 Most Expensive Cars to Insure for Young Drivers

Auto insurers charge young drivers more for car insurance because they’re more prone to distracted driving and lack experience behind the wheel, which increases their risk of accidents.

Young drivers and fast cars can be a dangerous, and even deadly, combination. Teens have nearly four times as many accidents per mile driven as drivers 20 and older, according to the IIHS. The consequence of that is high insurance rates overall and for certain models specifically.

The table below shows the 10 most expensive vehicles to insure for drivers under 25 and their average monthly insurance rates for younger drivers, according to Compare.com data.

The BMW 5-Series is the most expensive car to insure for drivers under age 25, with an average monthly premium of $270 for younger drivers, according to our analysis. Its hefty price tag, high repair costs, and high accident rates among young drivers contribute to higher insurance rates.

The Infiniti Q50 has the second-highest average rate, at $269 per month, and the Mercedes-Benz C-Class isn’t far behind. Both cars have high vehicle theft rates, which also increases the cost of insurance.

The 10 Cheapest Cars to Insure

The cheapest cars to insure aren’t necessarily the cars with the cheapest price tags. Maintenance and repair costs, theft risk, and other factors all contribute to the overall cost.

For example, the Cadillac Escalade has an average premium of just $128 per month despite having an MSRP over three times higher than other vehicles with similar insurance costs.

One reason might be that its average maintenance and repair costs are nearly $3,000 less than the industry average, according to CarEdge. The Escalade also has a lower chance of needing a major repair. And according to the most recent HLDI Insurance Report, it has a low incidence of theft compared to other large luxury SUVs.

The table below shows the cheapest cars to insure along with their monthly premiums and manufacturers’ suggested retail prices.

While buying a cheaper car can help you save on car insurance, a car’s model is just one factor that influences how much you pay. Next, we’ll share tips to help you reduce your auto insurance premium.

Top 5 Ways to Get Cheaper Car Insurance

Some of the factors that affect your car insurance rate aren’t always in your control, like your age, gender, and ZIP code. But you can lower the cost of insurance with the five strategies below.

• Bundle your policies. A multi-policy discount — for example, buying your renters or home insurance from the same company as your car insurance — can save you money.
• Improve your credit. Maintaining good credit can help you qualify for lower insurance premiums.
• Look for discounts. Ask your insurer about the discounts you’re eligible for. A few valuable discounts to look into include defensive driving, good student, anti-theft equipment, or signing up for your insurer’s telematics program.
• Make policy changes. Reducing your deductible and eliminating unnecessary coverage will lower your premiums. Just be sure that you can afford the extra costs if you file a claim and that you meet your state-minimum insurance
• Shop for new insurance. Comparing quotes from several of the best insurers could help you find a lower price on your coverage.

Most Expensive Cars to Insure FAQs

Understanding how car insurance works can help you strike the right balance between the car you choose and how much you pay for car insurance. Here are answers to common questions drivers ask about car insurance for expensive vehicles.

What’s the average cost of car insurance?

The average cost of car insurance is about $135 per month, according to Compare.com data. But keep in mind that rates can vary widely depending on factors like your age, driving record, insurance history, and more.

Which car has the highest insurance premiums?

The Infiniti Q50 has the highest average monthly premium of all vehicles, at $228 per month, according to our data. We also found that the BMW 5-Series is the most expensive vehicle to insure for drivers under 25.

Who pays the highest car insurance?

Young drivers under age 25 typically pay the highest car insurance rates because of their heightened risk of accidents. Teens’ risk is especially high, according to the IIHS.

Does it cost more to insure luxury cars?

Yes, luxury cars tend to cost more to insure. Though the car’s value is a major factor, insurers also consider repair costs, the likelihood of theft, how powerful the engine is, and the car’s safety record, according to the Insurance Information Institute.

Data Methodology:

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.

Sources:

1. Cox Automotive, “New-Vehicle Average Transaction Prices Drop to Lowest Level in Nearly Two Years, According to Latest Kelley Blue Book Estimates,” accessed August 14, 2024.
2. CarEdge, “Infiniti Q50 Maintenance Costs,” accessed August 14, 2024.
3. Highway Loss Data Institute, “Whole Vehicle Theft Losses: 2020-22 Passenger Cars, Pickups, SUVs, and Vans,” accessed August 14, 2024.
4. CarEdge, “Toyota Supra Maintenance Costs,” accessed August 14, 2024.
5. Insurance Institute for Highway Safety, “Insurance Losses by Make and Model,” accessed August 14, 2024.
6. National Association of Insurance Commissioners, “Tips for Saving on Your Auto Insurance,” accessed August 14, 2024.
7. Cambridge Mobile Telematics, “Telematics in Auto Insurance,” accessed August 14, 2024.
8. Insurance Information Institute, “What Determines the Price of an Auto Insurance Policy?,” accessed on August 14, 2024.
9. KBB, “Tesla Model Y Was the World’s Best-Selling Car in 2023,” accessed on August 14, 2024.