This year’s list is topped by a beast whose nickname derives from a 1950s-era horror flick, “Godzilla.” What could be more blood-curdling than owning a car with the most expensive insurance rates in the 2014 model year? It may be that shelling out well in excess of $100,000 for a car blinds many to the insurance premiums.
This year’s rankings have “a lot of vehicles that are just the opposite of a family car,” says Mark Takahashi, auto editor for Santa Monica, Calif.-based Edmunds.com. “They’re for wealthy people who like to go fast. They’re aspirational and firmly rooted in entertainment. And all of them are insanely fun.”
The problem with insane fun is that many drivers get into trouble fast, says Takahashi.
Meet Godzilla
The No. 1 most costly vehicle to insure is so flat-out over the top that its nickname is Godzilla. The $115,000 Nissan GT-R Track Edition has all-wheel-drive, twin turbochargers that help its V-6 engine develop 545 horsepower, massive brakes, a trick dual-clutch automated manual transmission and an array of electronics to customize steering, suspension and brake settings.
Takahashi calls the Nissan GT-R “an affordable supercar.” The GT-R was developed for people who desire an exceptionally high level of performance, and who might be taking it out on the race track now and again. “It was developed for the race track,” Takahashi says. “And while it’s not as tricky as the Mercedes SLS, because it has so many features working constantly to keep it on the road, it is blindingly fast.”
A few years back I owned a 2004 SRT-4, as well as a Z06, and the Vette cost half of what the SRT-4 did for insurance, and neither was my daily (I had a VW passat as well)
You are correct @Xander, it’s not the whole picture. There are so many factors that go into these quotes, that any minor difference can change the rate dramatically
This is what these quotes are based on:
Methodology: Insure.com commissioned Quadrant Information Services to provide average auto insurance rates for 2014 models. Averages were calculated using data from six large carriers (Allstate, Farmers, GEICO, Nationwide, Progressive and State Farm) in 10 ZIP codes per state. Not all models were available, especially exotic cars. More than 850 models are included in the 2014 study. Averages are based on full coverage for a single 40-year-old male who commutes 12 miles to work each day, with policy limits of 100/300/50 ($100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident) and a $500 deductible on collision and comprehensive coverage. This hypothetical driver has a clean record and good credit. The rate includes uninsured motorist coverage. Average rates are for comparative purposes. Your own rate will depend on personal factors.
A. Someone with this kind of car is probably going to have higher limits than 100/300/50…
B.They probably aren’t driving their GT-R to work 12 miles a day…
C. They probably don’t have a “clean” driving record and more importantly, are better than “good” credit.
Other factors that go into the quote may include: education level, garaging location, # of family members in the household, occupation, etc… People don’t even realize what these policies are based on anymore…
No tickets and no accidents on my record and my CTS-V was over $2k a year at Statefarm with multi-car and multi-policy discounts. MI no-fault, high risk city and high risk car.
Stupid no fault. I’m curious to see what my rates will be when I move back to NY.
When I moved from Inkster to Royal Oak, my insurance dropped over $1100/year on mine and my wife’s car. It was ~$210/month down to $120/month. Oakland Country is much easier on car insurance rates over Wayne County.
@cretinx, check out post #3 of this thread. I stated the fine print of their study. 100/300/50 limits, 40 Years old, 12 miles to work daily, $500 deductible, clean record and good credit.
You can blame the MCCA fee for that. it adds on $189.00 to most policies sold in Michigan. What i have seen in rates is the farther west you go in MI the better the rates will be.
I quoted someone in dearborn for motorcycle insurance. it was $6,000 a year. and that was 20/40/20 with 20k med pay(you have to have at least 20k if you choose not to wear a helmet), also 1000 for comp and coll.
Insurance doesn’t make any sense to me. My plastic racecar that’s basically going to be totaled the first time I run over a squirrel costs less to insure than my GTI.
Canadian insurance is strange. The liability limits are so high. My fiance carries 1MM. She doesn’t even have 1MM in assets. Her agent reccommended this coverage