Luxury cars are always more expensiveto insure for a number of reasons. Replacement parts for luxury cars are often more difficult to source and more expensive to purchase,and the cars themselves are also a target for thieves,who know that they鈥檙e more valuable.
People also ask
Why is my car so expensive to insure?
The higher the value, or MSRP, of your car, the more expensive it is to insure. This is due to higher costs of repairs, replacement parts, particularly on foreign models, and the cost of replacing the expensive vehicle if there鈥檚 a total loss. Does it matter what kind of motor you have?
Do you own a luxury car and need insurance?
If you own a luxury car and need an insurance policy that is affordable, give an expert a calltoday. Licensed insurance agents have years of experience finding the right policy for each and every customer, and can help you find the policy that provides you with the coverage that you need without being too expensive.
What type of car is the least expensive to insure?
A mid-sized car, such as a sedan or mid-sized SUV, is usually the least expensive to insure. Are high-end cars more expensive to insure? The higher the value, or MSRP, of your car, the more expensive it is to insure.
Does the size of your engine affect your insurance premium?
If you have a large engine with a lot of horsepower, you likely face a higher insurance premium. The more powerful your car is, the more likely you are to drive at higher speeds, which presents a higher risk. Even certain varieties of the same car model cost different amounts to insure due to engine sizes.