4 Expensive Cars and the Cost to Insure Them

The auto insurance companies do not just use your driving record to determine your premium — the type of car you drive and its intrinsic characteristics figure into that equation too. If safety technology is incorporated into your car’s basic design, then accidents will be less severe, repair costs will be lower and your premiums will be lower. If your car is imported, that means higher premiums because the cost of repairs will then depend on the more expensive imported parts –insurance companies must pay out higher reimbursements for imported parts. If, on the other hand, your car is designed to make repairs easy, then repair costs will be less, meaning insurance premiums and cheap auto insurance.

sports car 1

Suppose you throw caution to the winds and decide on a car that maxes out on each of those three characteristics, a choice that ends up raising your auto insurance premiums to thousands of dollars a year. Let’s take a look at those automobiles that have the highest auto insurance premiums as of 2011.

blue sports car

With an estimated annual auto insurance premium of $2815 and in fourth place in those competition, we find the Porsche Panamera Turbo. Made in Germany, it only costs $124,000. An import classified as a four-door seven-speed sports car, the Panamera Turbo goes from zero to 60 miles per hour in just four seconds and can quickly hit its 188 MPH top speed. The turbo option on the 4.8 litre V8 engine pushes the safety factor down and the repair costs up.

silver mercedes sports car

In third place with an estimated annual auto insurance premium of $2851 is the only car on this list that is made in America: the coupe model of the Dodge Viper SRT-10, in production since 2008. This car easily hits 200 MPH, mainly because of the 600 horses produced by its V10 engine. Costing only $84,000, the lowest price on this list, the Viper’s ultra-lightweight chassis reduces the car’s safety rating more than enough to raise the premium.

The Mercedes Benz S65 AMG, ranging in price from $150,000 to $200,000, hits second place in this list with a estimated annual auto insurance premium of $2863. A model in the S class produced by the European parent company Daimler LG, these S65 luxury sedans that drive like sports cars can easily hit 155 MPH. Besides being imported, the S65 also has a complex V12 engine that is further complicated by the addition of speed limiters, all of which adds to repair costs.


First place goes to the Porsche 911 Carrera GT2 Coupe with a estimated annual auto insurance premium of $2944. Porsche has been making speedy sports cars for decades and introduced the 911 model in 1963. The six-speed GT2 coupe came out in 2004 at a price of $440,000, but ceased production in 2008 because of design problems due to airbag regulations in the USA. Only 1,270 instances of this car were made and each instance, with a 530-horsepower engine, will still cost you close to $3000 in insurance premiums only. Budget for that!

Tony LaSarge is a freelance writer for Kanetix Canada and adds discussion to the car and finance sector.

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