When you set your heart to owning a high-performance car you really cannot expect a small insurance bill. In some cases, you cannot insure them for certain drivers even if you want to list them on the policy just in case. It is all about the possible risks and their specifications scream danger in the wrong hands.
Obviously, they are expensive to buy, and therefore the amount to be paid in case of total loss is equal to that amount. They aren’t cheap to repair either since they need original parts and expert body shops to handle them. Furthermore, they are more likely to get involved in accidents due to the speed they can reach very fast. That means they can also cause serious damage to other vehicles involved in a crash.
Following are the top 10 cars that have the highest insurance premiums
- Maserati Quattroporte
- Maserati Quattroporte Modena Q4
- BMW M8 Competition Gran Coupe
- Porsche Panamera Turbo S E-Hybrid Executive
- Audi RS e-tron GT
- Porsche Panamera Turbo
- Tesla Model S Plaid
- BMW M8 Competition XDrive
- Porsche Taycan Turbo S
- Audi R8 5.2L V10 Quattro Performance
First of all, if you are under 25 and/or have a bad driving record you should probably postpone the purchase until you build enough no claim history or get older. In any case, you should first get a few quotes and make sure that you can afford the premium. Again, it is worth repeating that you may find it very difficult to find a carrier even if you are willing and able to cough up the money.
Regardless, you would still have to try to get the best prices for them. The good news is that most companies would be happy to offer coverage that you don’t need to seek from a specialist provider or agent. This is a great help because you can compare car insurance rates from a larger pool. Also, there are many other ways of getting discounts like having a good credit score, a garage to park, living in a nice zip code, clean motoring history, and taking an advanced driving course. The last one may be required as a condition of coverage in rare cases. Other alternatives are multi-car policies and combining home insurance as well.
If you have a typical automobile for everyday use you can argue that you aren’t going to be driving the expensive one that often. That is why multi-car policies can be a useful option to consider. Also, you should limit the number of people allowed to drive it. If you try to insure it for any driver that may unnecessarily increase the costs, especially when you know exactly who would be allowed to get the keys. On the other hand, if you excluded your teenager from the policy you have to make sure that they have no access to it.
The last thing to do is to start shopping for the best prices. If you are doing it yourself you should get a few quotes online and compare them. If you are using an agent it wouldn’t hurt to ask at least one more agent just to make sure you aren’t taken for a ride.