10 Cars and SUVs That Are Priciest to Insure
Insuring a car that you’ve just bought is one of the biggest expenses associated with vehicle ownership. While the car itself plays a big role in determining how much someone pays for premiums, the driver’s gender, age, driving record, and so on all play crucial roles, as well.
Forbes compiled a list of the most costly vehicles to insure for 2014, based on data provided by Quadrant Information Services taken from six of the largest insurance providers. Be advised that depending on the state and the other factors mentioned, these figures could vary wildly, but Quadrant averaged the national figures for the most accurate possible amounts.
It’s also apparent that only mass-market cars were tallied. Specialty cars and exotics were not factored into the mix but likely run premiums far higher than the ones found here.
Based on those calculations and other research, here are the 10 most expensive models to insure for 2014.
10. Mercedes-Benz GL63 AMG
The GL is Mercedes-Benz’s (DDAIF.PK) largest SUV, and the GL63 is the high-performance version of the company’s biggest mass-market vehicle. It costs on average about $2,609 per year to keep insured. That’s not totally unexpected, considering that the 550-horsepower SUV goes for $118,000 at the very minimum. Despite it costing more than $200 per month, it’s not the most expensive Mercedes to insure — as we’ll soon see.
9. Jaguar XK/XKR Supercharged
It’s no longer Jaguar’s (NYSE:TTM) leading two-seater — that’s the F Type Coupe now — but it is the only Jaguar on our list. The $84,000 XK ($97,000 or so for the XKR) costs $2,610 on average per year, a dollar more than the GL63, while the 5-liter V8-powered XKR costs a bit more, at $2,854. We would assume that those numbers only go north if the convertible model is the subject at hand.
8. Audi A8 L W12
Audi’s (VLKAY.PK) S8 is a benchmark in many ways for performance sedans, but believe it or not, it shares the throne with its sibling, the A8 L W12. As the name suggests, this version is powered by a 6.3-liter W12 — 12 cylinders arranged in a W formation, like that in the Bugatti Veyron. As it turns out, this format makes this particular model of A8 notably expensive to insure, as it commands about $2,869 per year.
7. Mercedes-Benz G63 AMG
The Mercedes G63 AMG is an ultra-luxurious off-road powerhouse, with 536 horsepower at its disposal and a lofty $135,700 price tag. Knowing Mercedes as the luxe brand that it is and considering the G63 is by all means a niche vehicle, it comes as little surprise to learn that this vehicle will cost its owners a tidy sum of $2,887 on average on an annual basis to ensure it’s properly covered.
6. Audi R8 5.2 Spyder
It’s one of the most expensive models in Audi’s American lineup (though the A8 W12 costs more), it’s certainly one of the best-performing models, and its also a convertible (therefore more expensive), all of which means that owners of the R8 Spyder with the 5.2-liter V10 engine will be shelling out about $2,917 per year for coverage. All things considered, that’s likely a bargain compared to what the Lamborghinis that also use the same V10 engine would cost to insure on a yearly basis.
5. Porsche Panamera Turbo S
Porsche irked its purists with the arrival of the Panamera, which deviated from Porsche’s trademark two-door performance cars by adding a functional backseat and two more doors. However, don’t think it’s anything less than the 911; the Panamera Turbo S, which stickers for more than $180,000, offers 570 horsepower from its 4.8-liter V8. In short, it’s a wagon-style car that can scrape 194 miles per hour as its top speed and reach 60 in under four seconds. It’ll cost owners about $2,970 to insure for a year.
4. Mercedes-Benz SLS AMG GT
The Mercedes SLS AMG is a low-volume, performance-driven supercar that the company built to harken back to the days of the 300SL, complete with gull-wing doors (though not on the convertible version). The SLS starts at $208,000, spits out 583 horsepower, and costs an average of $2,986 to insure for one year.
3. Mercedes-Benz CL550
The CL550 will likely be bumped off the roster to make room for the new S Class Coupe, but for the time being, it remains one of the most expensive Benzes to insure at $3,109 per year, even more than the exotic SLS AMG. The 550, too, is the CL’s base model, which begs the question of how much it costs to insure the CL600 and the CL63 and CL65 AMG models (the price of which can rise to an atmospheric $215,000).
2. BMW M6 Coupe
Mercedes has the CL, and BMW has the M6. Lots of horsepower, good looks, and a lofty price tag are what define these performance coupes, and like the CL, the M6 commands a hefty premium each year for the pleasure of keeping it in your garage. It costs $3,065, a tad less than the Mercedes, on average — though it, too, starts at a meaty, six-figured $111,200. The few thousand less than the cost of the CL can be put toward your premiums for the future.
1. Nissan GT-R Track Edition
The Nissan (NSANY.PK) GT-R is known for outperforming cars that wear a price tag three times its MSRP, and the Track Edition ($115,710) is no different. Its 545 horsepower comes not from a V8 but rather a hand-built 3.8-liter twin-turbo V6, and despite a lower price point than some of the cars listed here, it commands a healthy $3,169 annual premium, potentially due to its larger production numbers and track-based nature.