Dodge, Tesla and BMW models are among the most expensive cars to insure while drivers often find cheap coverage on Mazda, Volkswagen and Subaru vehicles.
Discover if you are overpaying for car insurance below.
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Dodge, Tesla and BMW models are among the most expensive cars to insure while drivers often find cheap coverage on Mazda, Volkswagen and Subaru vehicles.
Discover if you are overpaying for car insurance below.
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Key Takeaways:
Your car’s make and model play a major role in how much you’ll pay for auto insurance. Certain vehicles are deemed more of a risk to insure, which can raise the cost of your car insurance policy. However, the right provider for your needs can ensure that you pay a fair rate for insurance, no matter what vehicle you drive.
In this article, we at the MarketWatch Guides Team will cover the 10 most expensive car makes to insure along with why they have high average premiums. We’ll also cover the cheapest car makes to insure before revealing average costs from some of the market’s best car insurance companies.
Learn more about our methodology and editorial guidelines.
While auto insurers consider many factors when setting auto insurance rates, your car’s make and model are some of the most important. From typical repair costs to the number of liability claims filed, you may be surprised at how much your car choice affects auto insurance costs.
There are various factors that can make a vehicle expensive to insure. For example, auto insurance providers might consider you more likely to get into an accident or to receive a speeding ticket if you have a car with a powerful engine.
Your chosen trim level can also have a major effect on how much you get charged for car insurance. If you own a new car with high-tech features that will cost more to repair or replace, auto insurers may require higher rates to cover these potential expenses.
In addition, you’ll likely face a hefty insurance bill if you own a luxury or high-performance car like the Porsche Panamera, Maserati Quattroporte, Audi R8 or Mercedes-AMG GT.
We ranked the 10 most expensive cars to insure using data from Quadrant Information Services. We’ve also included the annual and monthly average rates required to insure these vehicles with the industry’s top-rated insurance providers.
While Dodge is one of America’s oldest automakers, it’s mainly known today for offering cars packed with power and speed. Partly due to this, the Insurance Institute for Highway Safety (IIHS) found that the Dodge Charger’s insurance losses are about 110% higher than average, with other Dodge models following closely behind. When taken together, Dodge models are the most expensive cars to insure among the leading brands in the U.S.
The average cost to insure a 2022 Dodge model is $354 per month or $4,242 per year. That’s about 145% higher than the national average for a full-coverage auto policy, which is currently $144 per month or $1,730 per year.
Below are the average rate estimates for Dodge models from leading car insurance providers:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
Erie Insurance | $199 | $2,388 |
USAA | $209 | $2,506 |
State Farm | $242 | $2,908 |
Travelers | $323 | $3,870 |
Geico | $479 | $5,753 |
*Note: Unless stated otherwise, estimates are for full-coverage auto insurance and reflect the profile of a 35-year-old driver with a clean driving record and good credit history. USAA is only available to military members, veterans and their families.
Tesla is one of the most well-known electric vehicle (EV) manufacturers on the market today. However, the IIHS found that models such as the Tesla Model X are expensive to repair after collisions, which partly explains why they’re pricey to insure. Since EV models use parts that are tough to find and often expensive, it’s not surprising that Teslas have high insurance rates.
The national average cost to insure a 2022 Tesla model is $251 per month or $3,007 per year. That’s almost a 74% increase from the national average cost for full-coverage auto insurance.
Below are the average Tesla insurance rates from top-scoring providers:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $130 | $1,558 |
State Farm | $176 | $2,115 |
Erie Insurance | $183 | $2,201 |
Travelers | $219 | $2,624 |
Geico | $287 | $3,442 |
The average cost to insure a BMW is $195 per month or $2,337 per year, which is 35% higher than the national average. BMW is known as a luxury car brand, so this high insurance cost may come as little surprise. Higher-end models and luxury vehicles cost more to insure overall.
See below for average BMW insurance costs for a 2022 model from our top five providers:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $112 | $1,344 |
Erie Insurance | $149 | $1,788 |
Geico | $154 | $1,850 |
Travelers | $158 | $1,900 |
State Farm | $171 | $2,054 |
Lexus ranks as the fourth most expensive make to insure. While both the Lexus ES 350 and the Lexus IS were 2022 Top Safety Pick+ winners from the IIHS, this luxury brand’s car insurance rates aren’t cheap. The average cost to insure a Lexus is $189 per month or $2,273 per year.
Check the table below for auto insurance rate averages for a 2022 Lexus:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $121 | $1,454 |
Erie Insurance | $145 | $1,742 |
Geico | $147 | $1,761 |
Travelers | $153 | $1,832 |
State Farm | $166 | $1,997 |
GMC is a division of General Motors (GM) that manufactures trucks and other utility vehicles. As the fifth most expensive vehicle make to insure, the average cost for auto insurance on a 2022 GMC model is $184 per month or $2,207 per year.
See below for more details on average insurance rates for a 2022 GMC from top-ranked providers. Several fall below the overall national average of $1,730 per year.
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $113 | $1,352 |
Erie Insurance | $137 | $1,638 |
Geico | $146 | $1,756 |
Travelers | $154 | $1,848 |
State Farm | $174 | $2,089 |
A subset of Fiat Chrysler Automobiles (FCA), Ram is well-known for its heavy-duty pickup trucks. The IIHS found that pickup trucks and SUVs are proportionally more likely than cars to be involved in fatal single-vehicle crashes such as rollovers.
The risks associated with protecting pickup trucks could factor into the cost of auto insurance for Ram models, which is $175 per month or $2,101 per year. See below for rate estimates on a 2022 Ram model from five of the top auto insurers:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $96 | $1,153 |
Geico | $134 | $1,604 |
Erie Insurance | $141 | $1,697 |
Travelers | $148 | $1,771 |
State Farm | $154 | $1,852 |
Nissan is the seventh most expensive automotive brand to insure. With models like the speedy Nissan GT-R and the all-electric Nissan Leaf, you’ll find the average cost of auto insurance for a 2022 Nissan to be around $167 per month or $2,004 per year.
Find an average car insurance cost breakdown for all 2022 Nissan models below:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $94 | $1,130 |
Erie Insurance | $116 | $1,395 |
Geico | $125 | $1,498 |
State Farm | $143 | $1,713 |
Travelers | $156 | $1,875 |
Hyundai is a well-known and popular South Korean automaker. Unfortunately, the Highway Loss Data Institute (HLDI) found that vehicles built by Hyundai and Kia are often top targets of car thieves, with theft claims twice as common as with all other manufacturers combined. The average cost of auto insurance for a 2022 Hyundai is $164 per month or $1,973 per year.
Our top insurance providers offer rates for 2022 Hyundai models that are below or close to the national average. Below are details on the annual premiums you could pay for a Hyundai:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $93 | $1,110 |
Geico | $119 | $1,425 |
Erie Insurance | $129 | $1,542 |
Travelers | $145 | $1,744 |
State Farm | $146 | $1,756 |
Another leading car brand from South Korea, the HLDI found that Kia models are top targets of auto theft as well. Many 2015 to 2019 Hyundai and Kia models lack electronic immobilizers, which prevent thieves from starting a car without the proper key. Average costs for auto insurance for 2022 Kia models amount to $164 per month or $1,968 per year.
Here’s more cost information on auto insurance for 2022 Kia models:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $91 | $1,093 |
Erie Insurance | $123 | $1,480 |
Geico | $125 | $1,497 |
State Farm | $144 | $1,723 |
Travelers | $150 | $1,803 |
Toyota comes in as the 10th most expensive car make to insure, with an annual average cost of $164 per month or $1,964 per year for 2022 models. This is about 13% higher than the national average. However, if you’re looking for a full-coverage insurance policy, our top five providers offered rates for 2022 Toyota models that are below the national average.
See the table below for annual and monthly averages for 2022 Toyota models:
Car Insurance Company | Average Monthly Insurance Rate | Average Annual Insurance Rate |
---|---|---|
USAA | $93 | $1,120 |
Erie Insurance | $118 | $1,419 |
Geico | $119 | $1,433 |
State Farm | $139 | $1,664 |
Travelers | $139 | $1,673 |
While some car makes are typically more expensive to insure, others are generally cheaper than the national average. Remember that each individual’s premium will vary since many factors outside of your vehicle’s make and model influence car insurance costs.
According to Quadrant Information Services, Mazda ranks as the least expensive car to insure. Mazda’s 2022 models have an average annual insurance rate of $138 per month or $1,658 per year for full-coverage policies, coming in at around 4% less than the national average.
Our top car insurers provide cheaper average rates, which are broken down below:
Car Insurance Company | Average Monthly Insurance Rate | Average Yearly Insurance Rate |
---|---|---|
USAA | $89 | $1,068 |
Erie Insurance | $93 | $1,114 |
Geico | $103 | $1,241 |
Travelers | $117 | $1,407 |
State Farm | $119 | $1,429 |
Volkswagen is the second cheapest car make to insure, with 2022 models seeing an average annual rate of $142 per month of $1,707 per year. While this is only about 1% less than the national average, our top providers’ average rates for Volkswagen are significantly lower.
See the table below for a detailed cost breakdown for Volkswagen:
Car Insurance Company | Average Monthly Insurance Rate | Average Yearly Insurance Rate |
---|---|---|
USAA | $90 | $1,077 |
Erie Insurance | $94 | $1,131 |
Geico | $110 | $1,320 |
State Farm | $121 | $1,453 |
Travelers | $134 | $1,605 |
On average, car insurance premium costs for 2022 Subaru models are around $146 per month or $1,752 each year. However, it’s relatively easy to compare quotes and get reduced rates on Subaru insurance coverage.
See below for more information on average rates from our top five auto insurance providers:
Car Insurance Company | Average Monthly Insurance Rate | Average Yearly Insurance Rate |
---|---|---|
USAA | $89 | $1,072 |
Erie Insurance | $90 | $1,079 |
Geico | $106 | $1,267 |
Travelers | $119 | $1,433 |
State Farm | $127 | $1,526 |
While it’s the fourth cheapest car brand to insure, the average cost for Jeep insurance still sits at $153 per month or $1,833 per year. Note that you may find significantly different rates for models such as the Wrangler than for the Jeep Grand Cherokee or Compass.
You’ll find relatively competitive rates from our top five providers for 2022 Jeep models.
Car Insurance Company | Average Monthly Insurance Rate | Average Yearly Insurance Rate |
---|---|---|
USAA | $87 | $1,041 |
Erie Insurance | $112 | $1,344 |
Geico | $115 | $1,376 |
Travelers | $130 | $1,564 |
State Farm | $138 | $1,657 |
On average, it costs $156 per month or $1,869 each year to insure a 2022 Honda model. While this is higher than the national average, there are many reputable insurance companies that offer cheaper prices for full-coverage auto insurance.
Look below for our top five choices and their average auto insurance rates for models such as the Honda CR-V and Civic:
Car Insurance Company | Average Monthly Insurance Rate | Average Yearly Insurance Rate |
---|---|---|
USAA | $86 | $1,033 |
Erie Insurance | $114 | $1,368 |
Geico | $117 | $1,399 |
Travelers | $138 | $1,654 |
State Farm | $142 | $1,698 |
Your vehicle’s make and model aren’t the only factors that can change your car insurance cost. Providers also consider the following factors when setting premiums:
According to Quadrant Information Services, Dodge models are the most expensive cars to insure among automakers. While the make and model you drive factor into your insurance costs, they’re not the only elements that affect your rates.
If you’re concerned about auto insurance costs for your specific make and model, shop around and compare car insurance quotes from various providers to find the right types of coverage. While you can get a minimum-coverage policy that simply includes the basics such as bodily injury and property damage liability insurance, experts recommend that you purchase more.
We suggest starting your auto insurance search with some of the industry’s leading providers such as State Farm and Geico.
We named State Farm Best Customer Experience for 2023 thanks to its quality coverage options, affordable rates and positive customer reviews. It offers insurance add-ons such as rental car reimbursement and roadside assistance along with other choices. State Farm also lets policyholders sign up for a telematics insurance program known as Drive Safe and Save™ that could provide up to a 30% discount on your premiums if you’re a safe driver.
Read more: State Farm insurance review
We’ve determined that Geico is a provider that’s Best for Budget-Conscious Drivers, as it provides consistently low rates and relatively strong customer service. It offers every standard type of car insurance along with valuable coverage add-ons like mechanical breakdown insurance and rental car reimbursement. Additionally, you can save on insurance costs with DriveEasy, Geico’s usage-based insurance app.
Read more: Geico insurance review
According to Quadrant Information Services, Dodge is the most expensive brand of car to insure. The national average cost to insure a 2022 Dodge is $4,242 per year, which is 145% higher than the national average of $1,730 yearly.
Various factors make a car more expensive to insure — for example, luxury cars, those with high-end safety features and vehicles that are built for speed are often seen as a higher risk to insure. However, other factors such as your age, where you live and your credit history can also raise car insurance costs.
Luxury vehicles such as the Mercedes-Benz S-Class and luxury sports cars like the Maserati Ghibli have a higher price tag than nonluxury models or used cars. Since these vehicles typically cost more to repair, the cost of car insurance for these cars is often much higher.
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best car insurance companies. We collected data on dozens of auto insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.
Here are the factors our ratings take into account:
Our credentials:
*Data accurate at time of publication.
If you have feedback or questions about this article, please email the MarketWatch Guides team at editors@marketwatchguides.