Most Expensive Cars to Drive: Jaguar XK

One feature that carbuyers often overlook when shopping for a new car is the cost of insurance. Aside from your car payment and gas, insurance is the biggest cost associated with driving. Thus, it makes sense to take the cost of insurance into consideration prior to purchasing the vehicle. This factor is just as important as the vehicle’s price, size, or performance. You can find out how a certain model of car will affect your insurance premiums by contacting your insurance agent. Most often, the type of car you buy will have the strongest effect on your collision and comprehensive coverage. When you contact your insurance agent, you might want to brace yourself for a shock if you’re in the market for a Jaguar XK convertible. This car is one of the top ten most expensive cars to insure. We’ll tell you why in what follows.

Why It Costs So Much

Your driving record, demographics, geographic location, and the make and model of your car are the most important factors when it comes to car insurance premiums. The only one of those factors that you can alter immediately is the type of car you drive. Here are the biggest reasons why the Jaguar XK convertible costs so much to insure:

• More horsepower. Cars that are capable of high performance will always have higher premiums than other vehicles. Insurers view high-horsepower vehicles as risks because their drivers are more likely to drive faster and engage in risky maneuvers. Risky, high-speed driving means more accidents. The Jaguar XK boasts a 300-horsepower engine, which spells nothing but trouble to insurance underwriters.
• Luxury vehicle. Another reason the Jaguar XK is so pricey to insure is the simple fact that is costs more to repair. It’s no secret that Jaguars are luxury vehicles, and, as such, they will have higher repair costs associated with them. This, in turn, will impact how much you pay for collision and comprehensive coverage. The MSRP of the 2008 Jaguar XK convertible is a steep $80,835, so the insurer definitely has reason to worry. This is not a cheap car, and that also means it is not a cheap car to fix.
• Sports car. Indisputably, the Jaguar XK convertible is a sports car. Perhaps this is the reason it appeals to you and so many other buyers. However, insurers take a different view. Usually, sports cars tend to be driven by younger drivers who drive at high speeds and get into more crashes. Considering the fact that the Jaguar XK does 0-60 mph in 5.9 seconds, it might be hard to resist high-speed driving in this car. Of course, higher speeds mean more frequent accidents, and that means higher premiums.
• Theft appeal. The final factor that makes the Jaguar XK so expensive to insure is its attractiveness to car thieves. The car is full of high-dollar parts that thieves could make a killing off of on the black market. In addition, the car is expensive and high-performance, two more factors that elevate its theft appeal.

Additional Resources

• 10 Most Expensive Cars to Insure
• Forbes Autos: Jaguar XK Convertible