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The Most Expensive Cars to Insure

Last updated: February 26th, 2024

If you’re in the market for a new vehicle, there are a few things to keep in mind as you compare models. You might consider safety features, gas mileage, and additional features. It’s also important to factor the cost of car insurance into your decision, as some vehicles are more expensive to insure than others.

In this guide, we’ll highlight some of the most expensive cars to insure as well as determine which car brand might bring the costliest insurance prices. We’ll also help you understand what specific factors contribute to the cost of auto insurance, and share some tips for saving money on your car insurance policy.

Most expensive cars to insure | Most expensive car type | Most expensive brands | Compare two vehicles | Factors

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Our rates are based on public rate filings obtained by analytics company First Interpreter. While we may partner with some of the carriers you see on our site, we maintain editorial independence and it does not affect the rates you see. Read more about our rating methodology or see our rigorous editorial policy.

Which car has the highest insurance rates?

Car insurance premiums are unique to each driver, but your vehicle’s make and model are two of the biggest factors that can impact your car insurance rate. Vehicles with a higher value and higher repair costs are generally the most expensive to insure.

According to our average rate data based on the top 100 most popular 2023 models, the most expensive vehicle to insure is the Tesla Model S, which has an average annual premium of $4,048. The Tesla Model S also has one of highest MSRPs out of the vehicles we researched. The second and third most expensive vehicles to insure are the Tesla Model 3 and Dodge Charger SXT, respectively.

In the table below, you can see the average cost of car insurance for the most expensive cars to insure among popular 2023 models:

Make	Average Annual Premium
Tesla Model S	4,569
Tesla Model Y	3,451
Dodge Charger	3,186
Tesla Model 3	3,046
BMW X5	2,964
Dodge Challenger	2,922
BMW 3-Series	2,911
Lexus ES 300H	2,883
Mercedes-Benz GLE-Class	2,842
Lexus ES 250	2,769
Lexus ES 350	2,766
Lexus NX 450	2,744
Ford F-450	2,676
Ford Mustang	2,660
Audi Q5	2,642
Chevrolet Silverado 3500	2,589
Nissan Altima	2,577
BMW X3	2,572
Ford F-350	2,556
Lexus RX	2,547
Ram Pickup 3500	2,516
Kia Forte	2,513
Ford Expedition	2,512
Chevrolet Malibu	2,510
Ford Transit Passenger 350	2,471

Annual rates for a single 35-year-old male, estimated using public rate filings sourced from First Interpreter. Rates do not represent actual quotes. Accurate as of January 2024.

What is the most expensive type of car to insure?

In general, the most expensive types of cars to insure are luxury vehicles, sports cars, and electric vehicles (EVs). If you want a car that has cheap insurance rates, it’s best to avoid luxury brands and cars with a higher value, which often have the highest insurance premiums.

What does it cost to insure my vehicle?

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What are the most expensive car brands to insure?

Before you choose a car brand, make sure to get insurance rates for the model you have in mind. Based on our research, the most expensive car brands to insure are Tesla, BMW, Mercedes, and Lexus. Other exotic and luxury car brands, like Ferrari, Aston Martin, Porsche, and Bentley, can also have extremely high premiums.

Tesla

Mercedes

Lexus

Popular Lexus models:
1. Lexus RX
2. Lexus ES
3. Lexus NX

BMW

Popular BMWs:
1. BMW X5
2. BMW X3
3. BMW 330i

If you have your heart set on a high-end vehicle, it’s still possible to find a more affordable insurance premium. However, it’s important to look for car insurance discounts and get multiple quotes to see which insurance company can offer you the best rate for your car make and model, and your driver profile.

You can compare car insurance rates in just 30 seconds using our online comparison tool.

Compare car insurance cost between two vehicles

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Make*

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Vehicle factors that impact car insurance rates

There are many factors that impact car insurance rates, including your driving record, age, credit score, claim history, deductible, and coverage limits. In addition, there are several vehicle-specific factors that can affect your premium. These include:

Make and model: The make and model of your car are two of the most important factors that contribute to your car insurance rate. Luxury vehicles, EVs, and hybrids usually have the highest rates out of all vehicle types.
Model year: Insuring a brand new car is typically more expensive than insuring a used vehicle. This is true for most makes and models. For example, it will probably cost more to insure a new Tesla Model 3 than a 2019 Tesla Model 3 with 50,000 miles.
Safety features: Vehicles with advanced safety features, like anti-lock brakes, an anti-theft device, or collision detection systems, are often less expensive to insure than cars without these features. Many insurance companies also offer special discounts for drivers with safe cars.
Crash test ratings: Several organizations publish crash test ratings for new cars, including the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute for Highway Safety (IIHS). Cars with excellent safety ratings often have slightly lower insurance premiums because there’s a reduced risk of a serious accident.

How much should I expect to pay to insure my car?

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Your rates will vary based on where you live, your age, and other factors like your driving record

How to get affordable car insurance

The best way to get the best price for car insurance is to compare quotes from multiple insurance companies. The only way to know you found the cheapest car insurance for you is to compare rates at all insurance companies near you.

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Frequently asked

What is the most expensive car color to insure?

It’s a myth that the color of your car has an impact on your insurance premium. The color of your vehicle is not one of the rating factors that can affect car insurance rates.

What is the most expensive car to insure for teenagers?

The most expensive car to insure for a teenager is virtually the same as the most expensive cars to insure in general. Teen drivers usually pay the highest car insurance premiums because they lack experience and have higher accident rates than older drivers. However, some teens can save money on their car insurance by choosing a used vehicle, which tends to have less expensive rates.

Is an older car more expensive to insure?

Older cars usually have cheaper insurance rates than brand-new cars. This goes for almost every car make and model. Purchasing a used vehicle is often more affordable both in terms of purchase price and the cost of car insurance. However, it’s still important to compare insurance rates before buying a used vehicle.

What cars are considered luxury to insurance?

Luxury vehicles typically have the highest value, which makes them more expensive to insure. Some examples of brands that car insurance companies consider “luxury” are Lexus, BMW, Mercedes, Audi, Land Rover, Jaguar, and Porsche. If you purchase a vehicle from one of these brands, you can expect to pay above-average car insurance premiums.

Which car costs the least to insure?

There isn’t one specific type of vehicle that is the least expensive to insure overall. However, vehicles from economy car brands, like Honda, Hyundai, Mazda, and Kia, usually have less expensive insurance rates than cars from luxury brands.

Methodology

Rate Retriever rates are based on public rate filings obtained by analytics company First Interpreter. This data comes from the rating plans insurance carriers submit to each state’s department of insurance. Rating plans detail how each carrier calculates premiums using factors such as location, age, gender, and driving record, and they ensure that insurance premiums are both fair and competitive.

For the data on this page, we made the following assumptions: a 35-year-old single male with a clean driving record and Good credit score. We adjusted this profile by vehicle make, model, trim, and year to determine the rates you see on this page.

These rates are not actual quotes and should only be used for comparative purposes. Your rates can vary significantly based on your unique driver profile.

About Rate Retriever

At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results.

So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you.

Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs.

We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide.