Need for car insurance:
Car insurance helps to protect you against unforeseen expenses that arise due to an accident. You would not always have spare sums of money with you all the time. Had it not been for your car insurance, you might end up terribly if you are unable to get your car fixed pay off your medical bills and any damages caused to the other party.
When purchasing a car one of the most important factors to consider is how much would the car insurance cost. Car insurance expense is inevitable. Some cars might look really great to purchase but you might not afford its insurance. So here we have a list of most and least expensive cars to insure.
The most expensive cars to insure:
Needless to mention, the most expensive cars to insure are luxurious and high-speed cars. Naturally, a car that is expensive to buy and maintain would be expensive to insure. High-performance cars have very expensive parts and repair procedures. So they are risky for companies to insure.
The most expensive car to insure is the Nissan GT-R. This high-speed machine boasts a 565 horsepower reaching a skyrocketing speed of 200 mph. the high maintenance costs and speed which makes the car prone to accidents make it the most expensive car to insure.
Following Nissan are German car brands, Mercedes, BMW and Porsche among the most expensive cars to insure. The biggest name in the category of luxury cars, Mercedes has its seven models ranked among the top most expensive cars to insure. BMW is not much behind with its five models being very expensive to insure. Land Rover, Tesla, and Jaguar are also found in the list.
The least expensive cars to insure:
The Japanese automaker takes pride in manufacturing strong, robust, affordable and top-performing cars for the masses. The Honda Odyssey ranks at the top of the list of least expensive cars to insure. This minivan is best for big families. So it goes without saying that the drivers take extra precaution while driving so the chances of accidents are low for such family-oriented cars as opposed to fast riding sports cars. Other models of Honda such as HR-V LX, CR-V LX and Fit LX w/Honda Sensing also have secured their spots on the list.
The rugged, rough and tough Jeeps are among the least expensive cars to insure. With pretty inexpensive spare parts that are easily available all over and a robust body. Jeeps are very easy to repair. So they cost very less to insure.
Subaru with its advanced safety features such as automatic pre-collision braking and lane-keeping assistance secures three positions with its finest car models.
Mostly the cars that are meant for families with a more stable and mature people driving the car are among the least expensive cars to insure.
Other factors that contribute towards the calculation of insurance premium:
The type of car you own is a very important factor that insurance companies consider when arriving at the insurance rate. However, there are many other factors that contribute to the calculation of insurance premiums.
Demographic factors such as age and gender influence the rate you will pay. Young drivers are considered as risky hence are expensive to insure as compared to middle aged and more stable people. The area where you live also influences the car insurance rate. If you live in an area where the rate of theft and vandalism is high you might have to pay high insurance premiums. The driving record also influences the insurance premium. If you have a pretty decent driving record without violating traffic rules you can negotiate a lower insurance premium.