When we plan to buy a car, there are a lot of things at the back of our minds. We have to take care of the looks, make, model, speed, features and specs, reliability, eco-friendliness and most of all, our budget. It is a hard task to choose a car that best suits our needs and finances. Usually, we forget the most important feature to keep in mind during these planning and that is insurance. We skip this part and when the papers come in front of us, we are nothing less than shocked. To avoid such sudden shock, it is important to keep insurance rates in front of the eyes while planning to buy a car.
In this article, I am going to discuss some of the most expensive cars to insure. It is not for you to choose one from amongst them, but rather to avoid all of those so that you don’t pay too much in lieu of insurance.
Why Do Some Cars Have Higher Insurance Than Others?
This is the question you might be thinking about right now. There are many factors that contribute to higher or lower rates of insurance of cars. Some of these factors include:
- The make and model are a huge factor in deciding the rate of insurance. The better the make (and model), the higher the insurance. Go for a not much loved make and model and you will see the difference for yourself.
- Driving record of the buyer is also very important fact in determining the insurance of new car. If the driving record shows huge blunders, the rate will be higher. On the other hand, insurance will be lesser if the driving record of buyer is clean.
- Higher horse power increases the insurance rate. If the horse power is high, the driver is much likely to drive faster than usual. Fast pace will make him more prone to accidents. This will eventually increase insurance rate for such cars.
- If the car is expensive, this will also add to its insurance.
- If the car you are about to buy is expensive to repair and its spare parts do not come cheap, this will have high insurance.
- Sports cars attract youngsters more than the elderly. Youngsters are more inclined towards rash and thrilling driving. In this way, they are more prone to accidents and fatal injuries. This is why sports cars have high insurance rates.
- The more beautiful your car looks, the higher its insurance is.
- If your car attracts you, it surely attracts thieves, too. Now, if it attracts thieves, it is prone to be lost. This fact increases insurance for such cars.
- If your car is smaller in size, its insurance will be higher. Reason behind this fact is that small cars are usually driven fast than big sedans, and thus are more prone to accidents. This is why, their insurance is higher.
- A car that is thieves’ favorite (records show that a particular make and model is being theft multiple times) will get its insurance rates increased by the insurance companies.
- You can also hire car insurance broker to help you getting an appropriate car insurance quote for your car.
With all these factors understood, let us discuss about the most expensive cars to insure in current year i.e. 2010.