2009-2010 | Most Expensive Cars to Insure & Cheapest Cars to Insure

Published: Tue 23 Mar 2010

Perry Begay

If you're in the market for a new vehicle, you've probably thought about fuel economy, size, price, and comfort, but have you even considered the cost of auto insurance?

One phone call to your insurance agent could help you narrow the field and avoid finding out too late that your new car costs an arm and a leg to insure.

In addition to where you live, your driving record, and your personal demographics, your new car's make and model will have a large effect on your car insurance premiums, explains Russ Rader, an Insurance Institute for Highway Safety spokesperson. Out of all of the aforementioned factors, the kind of car you bring home is the only one you can immediately change.

"The choice of the car itself is going to affect, in particular, what you will spend for comprehensive and collision," explains Jeanne Salvatore, the senior VP of public affairs for the Insurance Information Institute.

In other words, shopping around for auto insurance while you shop for your new car is a smart move. You can easily compare policies online.

Why are Certain Cars More Expensive to Insure?

The primary factor in determining the cost to insure a vehicle is the collision damage cost, says Rader. To a smaller extent, drivers should also consider how appealing a prospective vehicle is to car thieves.

The cars that are most expensive to insure are usually pricey, high-performance, or costly to repair, explains Rader. The most expensive choice: "Sporty cars that are favored by young drivers who are risky drivers, so they are crashing a lot."

More horsepower means that the driver is likely to drive faster and have more accidents. For everyone who owns the same car, that will send car insurance rates through the roof.

Most of the cars that are costly to insure "share a common problem, and that is horsepower," explains senior VP of the Highway Loss Data Institute Kim Hazelbaker.

Vehicle Size: Bigger Isn't Always Better

Drivers might think that smaller cars are easier to handle and thus better able to avoid collisions, but Rader says that is a myth.

"When you look at the statistics and insurance claims, small sports cars tend to be in more crashes," he comments. Contributing to the problem: "They tend to be engaged in faster driving."

Statistically, the safest vehicles usually fall into the full-size family-sedan category, he says.

Conversely, you also have to consider how much damage your vehicle would do in an accident, which is a caution to drivers of mammoth SUVs.

Ten Most Expensive Cars to Insure

Without further ado, here are the ten vehicles with the highest collision losses from 2002-2004 according to the Highway Loss Data Institute.

1. Mitsubishi Lancer Evolution
2. Mercedes CL
3. Dodge SRT-4
4. Subaru Impreza WRX
5. Jaguar XK convertible
6. Lexus IS 300
7. Honda S2000
8. Acura RSX
9. Nissan 350Z
10. Jaguar XJ

Ten Least Expensive Cars to Insure

On the other end of the spectrum, here are the ten vehicles that cost the least to insure. Note the frequent appearances of family-oriented vehicles that tend to be driven in a safe, non-aggressive fashion.

1. Volvo XC90
2. Chevrolet Malibu Maxx
3. GMC Safari
4. Buick Le Sabre
5. Nissan Pathfinder Armada (2004 model only)
6. Pontiac Montana (standard model)
7. Mazda MPV
8. Ford Thunderbird
9. Pontiac Montana (long-wheel-base model)
10. Ford Taurus (station wagon)