The 10 Most Expensive Cars To Insure In 2016
We examined two different case studies on average annual auto insurance rates, from GoCompare.com and Insure.com, respectively, to compile our own list of the most expensive cars to insure for 2016.
The studies are both based on a theoretical male between 35-40 years old with a clean driving record and good credit who has a short daily work commute.
- Lamborghini Murciélago
Insurance rates on exotic vehicles aren’t as readily available as they are on more common ones, but we were able to track down a quote for the discontinued, but still highly desirable, Lamborghini Murciélago.
At launch, the Diablo’s successor was powered by a 6.2-liter V12 producing 572hp, had an official top speed of 206mph, and an MSRP of $279,000. Expect to pay around $9,600/year for insurance.
- Ford GT
If you were to make a list of cars you could stare at all day, the Ford GT would have to be near the top. Produced for MY2005 and MY2006 only, in a run of 4,038 units, the Ford GT has perhaps become even more iconic than the Ford GT40 racing car it drew inspiration from.
Featuring a 550hp, 5.4-liter supercharged V8 engine, the Ford GT achieved a 0-60mph time of 3.3 seconds in an independent test. The car retailed for $139,995 at launch, with some selling for $100,000 over sticker. It’ll be about $6,400/year to have it covered.
- Audi R8 V10 Coupe
Audi introduced the R8 V10 Coupe, also known as the R8 Coupe 5.2 FSI quattro, for MY2009. Its engine, derived from the V10 used in the Lamborghini Gallardo LP560-4, was slightly detuned to 525hp, and could propel the R8 to a top speed of just under 200mph.
The MY2017 R8 V10 Coupe has an MSRP of $162,900 and now produces 540hp. Set aside about $4,400/year to insure one.
- Dodge Viper SRT
It’s little wonder the Dodge Viper SRT is near the top of our list of most expensive cars to insure: the V10-powered snake has a wicked reputation for getting unsuspecting drivers into sticky situations.
And the insurance companies definitely know this. The 645hp Viper SRT is the “least” expensive car on this list with an $87,895 MSRP — that should tell you something. Average cost to insure is $4,048/year.
- Mercedes-Benz SL65 AMG
If we compare the Dodge Viper SRT’s and Mercedes-Benz SL65 AMG’s average annual cost to insure as a percentage of their purchase price, we find a pretty large discrepancy. Insurance for the Viper is 4.1 percent of its MSRP, whereas the SL65’s is 1.7 percent of its $217,500 MSRP.
Penny Gusner, consumer analyst from Insure.com, when asked about the percentage breakdown stated: “The Viper is a car you buy because you love to drive fast. The SL65 likely skews toward those seeking luxury – not speed. That’s reflected in the rates.”
That doesn’t mean the SL65 AMG, which costs an average $3,797/year to insure, is a tame animal by any stretch of the imagination. Its hand-built, 621hp 6.0-liter V12 biturbo engine can attain “total loss collision” speeds without breaking a sweat.
- Mercedes-Benz S600
The $170,750 Maybach S600 has a dizzying array of advanced features, many of which are interconnected using high-speed FlexRay optical fiber data technology. Indeed, the amount of fancy gadgets and gizmos that go into every top-of-the-line S-Class make it seem more like a spaceship than a car.
With options like Distronic Plus, Bas Plus, Night View Assist Plus, Crosswind Assist, Magic Vision Control Wipers, and Traffic Sign Assist, it would seem insurance companies might keep the S600’s rates down due to its incredible number of safety features, but the likely cost to repair any of these items in case of a mishap puts the iconic German sedan midway up our list.
Average cost to insure is $3,539/year.
- Mercedes-Benz S63 AMG 4Matic
Mercedes-Benz introduced the S63 AMG 4Matic for MY2004, featuring a new 5.5-liter biturbo V8 engine outputting 577hp and 664lb-ft. of torque. The Germans put a lot of thought into shedding pounds off the S63 AMG 4Matic in comparison to its predecessor, introducing a lithium-ion battery, the first ever to be used in mass-produced vehicle, and an optional, lightweight, two-piece AMG ceramic brake system.
With a $144,700 MSRP and a 0-60mph time of just 3.9 seconds, this is certainly no child’s toy, and the average annual insurance rates reflect that. Expect to pay $3,513/year to cover this European monster.
- Porsche Panamera S Executive
According to Insure.com, the Panamera S Executive is more costly to cover than a Porsche 911 Carrera GT3 RS. They list the average annual premium for the four-door Panamera at $3,484, with the two-door 911 at $3,212.
Insure.com called on the services of Quadrant Information Services to estimate average annual insurance premiums using information from six major insurance companies (Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm) based on 10 ZIP codes from each state.
It’s surprising to see a Panamera model ahead of the knife-edged GT3 RS, but as we’ll see shortly there are so many variables insurance companies use to calculate their premium prices, which means its not always the fastest or most expensive cars that are the most costly to insure.
- Nissan GT-R Nismo
The Nismo GT-R was number one on Insure.com’s “Top 10 Most Expensive Cars to Insure” list for the past two years, but saw a big drop in 2016. This year its average annual premium is estimated at $3,476.
Insurance rates can be fickle. Most assume that the insurance premium is based primarily upon the vehicle’s total value, but this isn’t always the case.
Gusner explains: “Insurance companies base rates on multiple factors, such as cost of repair, safety ratings and the number of claims on a vehicle model. And that’s before taking into account your driving record. So you really can’t guess where it’s going to fall based on purchase price. You have to run the numbers.”
- BMW M6 Gran Coupe
As the manual transmission slowly disappears into the dark abyss, its easy to like a performance car solely based on the fact that it’s offered with a manual transmission — the BMW M6 Gran Coupe is one of those.
The Gran Coupe is essentially a stretched out 6-series with two extra doors, and even though it’s a large vehicle, the extra length gives it a svelte look that the public has taken a likening to. BMW naturally decided to produce a M6 Gran Coupe based on the 6-series Gran Coupe’s success, shoving their 560hp 4.4-liter twin-turbo V8 under the sleek bonnet.
Starting at $117,500, the M6 Gran Coupe recorded an independently tested 0-60mph time of 3.7 seconds, although the manufacturer’s listed time is a more conservative 4.1 seconds. If you want one, set aside $3,309/year to insure it, and leave out the part about the sub-four second 0-60 time when speaking to your insurance agent.
