Big engines (or batteries), high-end tech, and expensive finishes always translate into the most expensive car insurance. These beauties will turn heads out on the road but will cost you when it comes to car insurance. Check out our list of the most expensive luxury cars to insure.
How much is insurance for the most expensive cars to insure?
Unfortunately, luxury and high-end sports cars cost a fortune to insure. Premiums ranged from $5,176 for the Maserati Quattroporte to $3,503 for the Tesla Model S Long Range. The Maserati vehicle costs a whopping 158% more than the national average of $2,022. Even the cheapest vehicle on our list is 74% above the national average.
Insurance costs dropped a tiny amount (0.54%) this year with the national average going from $2,022 to $2,011. While hardly enough to make much difference in a premium, it’s always nice to see insurers charging less for coverage.
There are three big reasons these cars are all expensive to insure. A high sticker price, top-of-the-line technology and high repair costs add up to a costly insurance premium.
“Sports cars and high-end luxury vehicles are usually much more expensive to insure because of repair costs. The finishes in these vehicles are often much more expensive than the materials used in a more moderately priced vehicle,” says Carole Walker, executive director of the Rocky Mountain Insurance Information Association.
See the table below for the most expensive cars to insure:
| Rank | Make | Model | National Average Rate |
|---|---|---|---|
| 1 | Maserati | Quattroporte | $5,176 |
| 2 | Maserati | Quattroporte Modena Q4 | $5,118 |
| 3 | BMW | M8 Competition Gran coupe | $4,231 |
| 4 | Porsche | Panamera Turbo S E-Hybrid Executive | $4,221 |
| 5 | Audi | RS e-tron GT | $4,150 |
| 6 | Porsche | Panamera Turbo | $4,129 |
| 7 | Tesla | Model S Plaid | $4,115 |
| 8 | BMW | M8 Competition XDrive | $4,054 |
| 9 | Porsche | Taycan Turbo S | $4,028 |
| 10 | Audi | R8 5.2L V10 Quattro Performance | $3,967 |
| 11 | Audi | RS6 Avant Quattro | $3,922 |
| 12 | BMW | M760i xDrive | $3,911 |
| 13 | BMW | M850i XDrive Gran Coupe | $3,854 |
| 14 | Maserati | Ghibli Trofeo | $3,840 |
| 15 | Alfa-Romeo | Giulia Quadrifoglio | $3,695 |
| 16 | Acura | NSX Type S | $3,626 |
| 17 | Dodge | Charger SRT Hellcat Redeye | $3,533 |
| 18 | Dodge | Charger SRT Hellcat | $3,528 |
| 19 | Porsche | 911 Carrera Targa 4 GTS | $3,527 |
| 20 | Tesla | Model S Long Range | $3,503 |
What are the most expensive cars to insure?
CarInsurance.com analyzed car insurance rates in every state for approximately 2,500 different vehicle models to find the most expensive sports cars or luxury vehicles to insure.
The Maserati Quattroporte was among the top 10 most expensive cars to insure; you will pay $5,176 annually to protect this beauty. The Maserati comes with all the risk factors insurers hate to see: a huge sticker price (starts at $101,000), a powerful engine (345 horsepower), and plenty of luxury finishes. All of that adds up to a huge insurance premium.
Maserati managed to put two other vehicles on the top 20 most expensive cars to insure list and BMW, Porsche and Audi rounded out the top five. Shockingly, not a single Mercedes made our list this year, which is unusual. BMW and Porsche tied for the brass ring with four vehicles on our list.
These are the top five most expensive vehicles to insure.
Maserati Quattroporte
Maserati grabbed the top two spots with the Quattroporte being the most expensive car to insure. This beast will set you back a whopping $5,176 a year to insure, which is 158% more than the national average.
The Quattroporte comes with several red flags when it comes to insurance. While certainly not one of the most expensive sports cars out on the road, its sticker price of $101,000 puts it well out of the average price range for most drivers. It will hit a top speed of 166 mph and is loaded with expensive finishes such as premium leather seats, Ermenegildo Zegna silk, and carbon fiber.
In addition, Maseratis are targets for car thieves, and insurers charge higher premiums if a car is a significant theft risk.
Maserati Quattroporte Modena Q4
The Modena Q4 is a move up the trim ladder for the Maserati Quattroporte. This model is more expensive (it starts at $116,000) and has a bigger engine (424HP) than the base model Quattroporte. Typically, insurance costs increase as you move up through the trim levels, but surprisingly, the Modena Q4 has slightly less expensive car insurance rates at $5,118 a year.
BMW M8 Competition Gran coupe
Cars built to be driven more aggressively will always be more expensive to insure, and the M8 has a big engine under the hood that dares you to put your foot down.
“The M8 Competition models sit at the top of BMW’s M lineup and are the epitome of performance and luxury,” Anthony says.
Its 4.4-liter V-8 engine can push out 617 horsepower and features track-ready cooling systems. It can hit 190 mph if you add the M Driver’s pack to the mix. High technology, it comes with a 12.3-inch digital gauge cluster, 16-way power seats, and optional carbon fiber seats, which all help make this vehicle very pricey to insure.
“Performance cars like the BMW M8 will be more expensive in every aspect, from the starting MSRP and routine service visits to the monthly insurance payment,” Anthony says.
While still very pricey to insure, its $4,231 premium is $945, or 18% less than the Quattroporte.
Porsche Panamera Turbo S E-Hybrid Executive
This luxury sports car combines upscale finishes with a huge engine, a recipe for a big insurance bill. The Panamera has a V-8 under the hood that can push out 690 HP and hit a top track speed of 196 mph.
“The Porsche Panamera Turbo S E-Hybrid’s powertrain doesn’t help much either, as hybrids are, generally, more expensive to insure than their gasoline counterparts,” Anthony says.
The interior is luxurious and comes with premium Bose Surround Sound, leather seating, and a smartphone compartment, including wireless charging. Its starting price of $206,000 is one of the major reasons it costs $4,221 to insure this vehicle.
Insurance companies always consider the vehicle’s sticker price when setting a premium because they will have to replace the vehicle if it is damaged or destroyed by a covered peril.
Insurers must also consider repair costs, and luxury vehicles like the Porsche are packed with expensive finishes. A teak wood interior will always cost more to repair than plastic.
“The Porsche Panamera Turbo is not a high-volume car. In other words, it doesn’t sell at a rate similar to a Toyota Camry, which is why repairs are often more expensive since parts won’t be as plentiful. In addition, because of the specialized nature of these high-performance vehicles, the skill and time required to make repairs will be higher than with a more mainstream vehicle,” says Brian Moody, executive editor for Autotrader and Kelley Blue Book.
Audi RS e-Tron GT
While the RS e-Tron GT is the most expensive EV to insure, it is not the only EV to make our list. This year, three electric vehicles hit the top 20, with Tesla putting two on the board: their Model S Plaid and Model S Long Range.
The Audi RS e-Tron costs $4,150 annually to insure and shares many of the same risk factors with the other vehicles on our list. It has a $140,000 starting price, can hit 60 mph in 2.9 seconds, and is loaded with technology, including a top-view camera system that can show the e-tron’s position concerning its surroundings with an overhead virtual 360° view.
However, the only significant difference is what is under the hood. Instead of a massive engine, there is an enormous battery, which is one reason this vehicle is so expensive to insure.
Why are certain types of cars more expensive to insure?
Insurance companies take a variety of risk factors into account when setting a premium. In addition to personal factors like your driving record, credit score, age, and marital status, insurers consider your vehicle’s risk factors.
Avoid sport and luxury vehicles to keep your insurance bill affordable. Electric vehicles (EVs), particularly high-end EVs such as Teslas are reasonably expensive to insure.
Big engines (or a big battery), a sky-high sticker price, cutting-edge tech, and lots of expensive finishes will always push up insurance costs.
Here are a few of the vehicle factors that insurers consider and why they make insurance more expensive:
- Price: Your insurance company is on the hook for the bill to replace your car if it is stolen or destroyed by a covered peril — it will charge a higher premium for a more expensive car. You will pay more for insurance if you have a high-end luxury vehicle with a high-end sticker price.
- Vehicle type: Many sport and luxury cars are designed to be driven more aggressively, often leading to more crashes and accidents. High-powered vehicles are often involved in accidents that lead to claims.
- Repair costs: Your insurer must pick up most of the bill if your vehicle has to be repaired due to an accident or other covered incident, so they look at repair costs when setting an insurance rate. High-end sport and luxury vehicles are often more expensive to repair as parts and labor are much higher. They usually require specially trained mechanics and even specialty facilities.
- The target of thieves: The cost to replace your stolen vehicle is your insurance company’s problem if your ride is boosted, so if it is a common target of thieves, you will pay more for coverage. Unfortunately, luxury and sports cars often fall into this category, leading to higher insurance costs.
Read more: These are the cheapest cars to insure in 2024
Which trim and model features make a car more expensive to insure?
Luxury and sports vehicles are always going to be more expensive to insure, but here are a few factors to consider when shopping for a vehicle:
- Trim: Most vehicles come in different trim levels. The base model will usually be the cheapest trim to insure. As you move up trim levels, your premium will climb due to a higher sticker price, more expensive interior finishes, and possibly a bigger engine.
- Engine size: A bigger engine under the hood usually results in costlier premiums. Sport and luxury cars may offer different engine choices that can impact your premium.
- Luxury finishes: The interior finishes you choose will impact the insurance cost. Leather seats, teak wood, and carbon fiber will be more expensive to insure than cloth seats and a plastic dashboard.
- Technology: Cutting-edge technology is often found in luxury vehicles before trickling down to more reasonably priced ones. High-end audio systems, seat massagers or a refrigerator box for the rear cabin will all result in a higher insurance premium because they make repairs more expensive.
Why do Teslas cost so much to insure?
Like many of the vehicles on our most expensive to insure list, Teslas come with a hefty sticker price, and they are costly to repair, which is always a recipe for sky-high insurance premiums.
Here are a few reasons Teslas come with expensive insurance:
- Repairs: Teslas can only be repaired at a Tesla-approved repair shop. This is due to the additional training and equipment that are needed.
- Battery: Like all EVs, a Tesla has a big battery under the hood instead of an engine. It can cost between $10,000 and $15,000 to replace the battery and those kinds of costs will always be factored into an insurance rate.
- Aluminum frame: The Model S has an aluminum frame, which makes it more expensive to repair than a standard steel frame.
“The complex and high-end technology incorporated into Teslas is expensive to repair after a crash, ” Anthony says. More expensive repairs mean a higher insurance bill.
Read more: Which are the cheapest Tesla models to insure?
Resources & Methodology
Methodology
CarInsurance.com commissioned Quadrant Information Services to calculate average auto insurance rates for around 3,000 2022 car models. Averages are calculated using data from seven large carriers, such as Allstate, AmTrust, Farmers, GEICO, Nationwide, Progressive, and State Farm, in 10 ZIP codes per state. The worst-performing standard set of features for each car model determined the rankings.
Averages are based on full coverage for a single 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries, and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage.
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