We found that full-coverage car insurance is the most expensive for high-end luxury or sports cars. According to our data, the Dodge Charger is the most expensive car to insure, costing an average of $354 per month or $4,242 per year for full-coverage car insurance. Full coverage generally includes liability insurance, collision and comprehensive coverage and either MedPay or personal injury protection (PIP insurance).
People in these groups usually pay the highest car insurance rates:
- Drivers in their teens and early 20s
- Drivers who have poor credit
- Drivers with multiple speeding tickets, accidents or DUIs on their records
Car insurance companies consider drivers with these profiles more likely to get into accidents, file claims or not pay their premiums on time. To offset this financial risk, insurers charge these motorists higher rates.
Yes, BMW vehicles are among the most expensive cars to insure. Full-coverage insurance for a BMW costs an average of $195 per month or $2,337 per year. That makes it the third most expensive brand to insure, according to our research.**
Yes, luxury cars are more expensive to insure because they are worth more than standard cars and cost a lot more to repair. You can expect to pay a much higher average annual premium if you have a luxury vehicle.
