The well-worn car cliché goes like this: “Fast, cheap, and reliable – pick two.” As it turns out, that conventional wisdom extends to auto insurance, as a recent report by Insure.com revealed the 10 cars that insurance companies love to cover – and the 10 they hate.
The independent insurance website analyzed data from six different insurance companies covering 1,500 models and found that the Jeep Wrangler is the cheapest car to insure in the U.S., with owners paying an average $1,134 a year for their premiums. The Wrangler is a fantastic go-anywhere truck that offers big value and tons of fun at an affordable price. But one thing the Wrangler isn’t is fast.
In contrast, all 10 of the most expensive cars to insure are very fast, and they all cost at least twice as much to insure than the Wrangler. Surprisingly, German automakers dominate the list, taking eight of the 10 spots, with cameos by an American and a Japanese automaker, respectively – with nary an Italian automaker in sight. While speed is certainly a big reason for these astronomical premiums, technology, use of specialty materials like aluminum and carbon fiber, and the price of replacement parts also play a major factor for the insurance companies.
So cars that are fast, expensive, and made of exotic materials are expensive to insure. This shouldn’t come as a surprise to most, but some of the cars on the list (and some that didn’t make it) may surprise you. Without further ado, here are the 10 most expensive cars to insure in America.
10. Mercedes-Benz CLS63 AMG 4Matic
When the CLS-Class was introduced in 2004, its graceful, coupe-like profile became a styling touchstone for a generation of sport sedans. Over a decade later, the CLS is just as striking, and Mercedes’ AMG tuning department has given it some added performance to go with its head-turning looks. The all-wheel drive CLS63 AMG gets a twin-turbo 577 horsepower V8, a zero-to-60 time of 3.6 seconds, and hefty insurance fees. The four-door coupe will set you back an average of $2,972 a year just to insure.
9. Mercedes-Benz E63 AMG 4Matic Wagon
Since its introduction in 2014, the latest generation E63 wagon has been one of the most insane performance cars in the world. Beneath the unassuming guise of a sensible all-wheel drive station wagon, lies a hand-built 5.5 liter twin-turbo V8 that makes 577 horsepower and rockets the big hauler from zero-to-60 in 3.6 seconds, with a top speed of 186 miles per hour. It might be the ultimate sleeper at the track, but its sedate exterior won’t fool insurance companies. The average cost to insure this superwagon is $3,042 a year.
8. BMW M6 Convertible
Since it was introduced in 2012, the latest-generation BMW M6 has been considered one of the best cars in the world. With gorgeous good looks, and an intoxicating combination of high luxury and blinding speed, the M6 pulls off the rare automotive hat trick in that it comes as a coupe, convertible, and four-door sedan – and they’re all fantastic. The M6’s 560 horsepower twin-turbo V8 takes the rear-wheel drive convertible from zero-to-60 in 4.3 seconds, and is the most powerful engine ever installed in a production BMW. If you really want one (and we all do), be prepared to shell out an additional $3,115 a year to keep it on the road.
7. BMW 760Li
The 760Li is the top-of-the line BMW, and with good cause. While it’s loaded with the same tech and luxury accoutrements available on the 750 model, 760 owners shell out an additional $50,000 for the privilege of owning a car powered by BMW’s incomparable twin-turbo V12 engine. The big Bimmer has long played second fiddle to the best-selling Mercedes-Benz S-Class, but its 535 horsepower powerplant can rocket the two-and-a-half ton car from zero-to-60 in under 4.5 seconds. This combination of luxury and speed doesn’t come cheap – and neither do replacement parts. Expect to pay $3,147 to keep it insured.
6. Porsche Panamera Turbo Executive
Polarizing looks be damned, the Panamera is one of the best performance sedans in the world. With a big 4.8 liter V8 under the hood good for 520 horsepower, the Panamera Executive offers Porsche speed and handling with luxurious seating for four. Prices for the Executive start at $161,100, but with Porsche’s notorious á la carte options list, prices can quickly surpass the $200,000 mark. With the Panamera, you can expect a zero-to-60 time of around four seconds, a top speed of 189 miles per hour, and an average annual insurance bill for $3,174.
5. Audi R8 5.2 Spyder Quattro
The Insure.com listing of the R8 5.2 Spyder Quattro is a little vague. That 5.2 number may sound like a respectably big engine for a performance car, but what that number doesn’t tell you is that this engine is the same screaming 520 horsepower V10 that began life in a Lamborghini Gallardo. Audi may have a new R8 on the way, but after eight years in production, its current all-wheel drive supercar can still hold its own against the world’s best. Expect this performance to come at a price, as R8 Spyder owners spend an average of $3,206 per year on insurance.
4. Porsche 911 Carrera S Cabriolet
For many, the Porsche 911 is the ultimate sports car, and its combination of speed, handling, and iconic looks have kept it on the cutting edge of performance for over 50 years. The Carrera S may not be the fastest or the most expensive 911 Porsche builds, but its 186 mile per hour top speed and 400 horsepower flat-six engine make it no slouch either. An open-top coupled with fantastic performance make the Carrera S Cabrio one of the most desirable cars Porsche builds. Expect to fork over $3,216 a year to your insurance company for the privilege of owning one.
3. Dodge SRT Viper
The Viper is the lone American on the list, but for good reason. For over two decades, the Viper has remained almost single-mindedly focused on straight line speed and power, and has the reputation as one of the hardest to handle cars on the road. For 2015, the Viper gained an extra five horsepower, pushing the grand total to 645, and the V10 engine rockets the car from zero-to-60 in the low 3-second range. All that power nestled below the Viper’s hand-built body come at a cost. Blistering power and notoriously expensive replacement parts make them one of the most untouchable cars on the road for insurance companies. Expect to pay an average $3,318 if you want to keep a Viper on the road – and that’s a big “if.”
2. Mercedes-Benz SL65 AMG Convertible
Tracing its roots back to the iconic SL cars of the 1950s, today’s SL-Class Mercedes is a luxurious and capable grand tourer – at least until AMG gets ahold of it. On top of a host of suspension and aerodynamic upgrades, the SL65 has a 621 horsepower twin-turbocharged V12 crammed under the hood, taking the car from zero-to-60 in 3.9 seconds. Top speed is electronically limited to 186 miles per hour, but that’s more than enough to make the SL65 the second-most expensive car to insure in the United States. At $3,573, the Mercedes may cost an arm and a leg to keep on the road, but there’s one car that’s more expensive, and it beats the SL65 by one dollar…
1. Nissan GT-R Nismo
The Nissan GT-R has been one of the most dominant supercars in the world since its introduction in 2007, and thankfully, age hasn’t mellowed it at all. For 2015, Nissan raised the stakes by releasing the Nismo editon GT-R, which pairs the 3.8 liter twin-turbo V6 with a special track-focused Nismo suspension to better help its 600 horsepower get to all four wheels. Exclusive 20-inch wheels and carbon fiber accents add nearly $50,000 to the GT-R’s base price, and all those go-fast parts make a difference to the insurance companies, too. Expect to pay an average $3,574 a year to drive one of these rare birds.
Along with make and model, age, gender, and location also have a major effect on insurance costs. Even though the high prices cited by Insure.com are averages, the cost of premiums vary wildly from state to state. A recent study by insurance company CoverHound found that drivers in New York pay 356% more for car insurance than drivers in Idaho. Some people will always pay a premium for speed, and this list proves that the high cost of ownership doesn’t end once the car is paid off. Still, with cars like these, almost any cost would make it all worthwhile.