5 Most Expensive Cars to Insure
Updated December 5, 2014
Buying a new car is probably the second most expensive purchase we will ever make after home ownership. It might even be the most expensive purchase you ever make if you never buy a house and perhaps have a taste for swapping out cars every couple of years or so. Cars shed value; homes (allegedly) build it. I am just reminding myself of that because I know I would much rather have a new car than a new house. Yes, that is a seriously twisted value system. Unfortunately for most people who set off to buy a new vehicle they rarely do all of their homework. They don’t check things like maintenance costs, depreciation or even if their new ride will be able to run on regular gasoline. Trust me when I tell you that last one can add up. But the one thing most new car buyers don’t do is they don’t find out what impact their nice new car will have on their insurance premiums. And that, dear friends, can turn that “new car smell” into that “Ewwww car smell.” Here are five of the most expensive vehicles to insure as reported by the California AAA. Insurance rates also vary based on your state of residency, age, driving history and gender.
Most Expensive Under $50,000 – Chevrolet Corvette
Mix and absurdly fast V8 sports coupe, some scary on the limit handling and a fiberglass body shell that splinters into a million pieces in an accident and you have the makings of an insurance disaster. Also, since the Corvette looks so good it manages to get stolen from time to time.
Most Expensive SUV – Range Rover
Pretty, talented and with absurdly complicated off-road hardware this most regal of SUVs also is not very kind to small subcompacts that get in its way. While the Range Rover is the most expensive of all the SUVs to insure, that is kind of like saying Jeffrey Dahmer was the worst of the serial killers. In plain English-all SUVs are expensive to insure!
Most Expensive Truck – Cadillac Escalade
A blinged out favorite of car thieves this obnoxious SUV is not only expensive to insure, but its premiums will be way higher than those paid by the owner of a nigh-on identical GMC Yukon Denali. So why wouldn’t you get the GMC? I am pretty sure your GMC dealer will sell you some aftermarket chrome.
Most Expensive Minivan – Honda Odyssey
As with most Hondas, when it comes to auto insurance they are truly a victim of their own success. Whenever a car is well loved by the population at large thieves will begin to target said vehicle as stolen car parts from a popular vehicle can be sold for far more than those stripped off a Yugo.
Biggest Shocker – Kia Rio
Although it is one of the cheapest new cars available for sale today, the Kia Rio also is one of the most expensive to insure. Apparently the Rio has truly dreadful crash test ratings (no doubt horrific when hit by an Escalade) and this fact has seriously impacted the insurance premiums for owners of this Korean car. As the old adage goes-you get what you pay for.
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