In addition to car payments, maintenance, and gas, drivers must set aside funds to insure their vehicles. Insurance costs vary from state to state, but most drivers are required to have insurance to cover damage to their vehicle, other vehicles, property, as well as bodily injury and medical payments.
For the model years 2017 to 2019, it cost insurance companies an average of $963 to insure a vehicle for one year. These costs directly affect how much drivers have to pay to keep their vehicles insured. There are 25 different cars and SUVs for which coverage costs $1,250 or more per year.
To determine the 25 cars with the highest insurance costs for insurance companies, 24/7 Wall St. reviewed data on insurance claim payments insurers made by make and model from the Insurance Institute for Highway Safety, a nonprofit research organization funded by auto insurers.Â
One of the main factors driving up car insurance prices is the price of the car itself — more expensive cars tend to have more expensive parts and higher costs of repair. Faster and sportier cars also tend to have higher insurance costs because drivers of these vehicles tend to drive at higher speeds, which increases the chance of accidents.
However, insurance costs do not depend only on the car itself. States require different levels of coverage for drivers, not to mention the fact that drivers in urban areas have higher rates because car theft is more likely there than in the suburbs or rural areas. Young drivers also cost more to insure because of potentially reckless behavior and a lack of experience behind the wheel. These are the best and worst states for teen drivers.
Click here to see the most expensive cars to insure
To determine the 25 cars with the highest insurance costs, 24/7 Wall St. reviewed data on insurance claim payments insurers made by insurers by make and model from the Insurance Institute for Highway Safety, a nonprofit research organization funded by auto insurers. The costs include six types of insurance: collision, property damage, comprehensive, personal injury, medical payment, and bodily injury. The model that is most expensive to insure has the highest overall average cost to the insurer per year. These data are for 308 vehicles of 2017-2019 model years sold in the United States. Average annual insurance payments account for both the frequency of accidents as well as the average payment made by model. The IIHS breaks down the data for models to sometimes include certain safety-relevant features, such as all-wheel drive and driver assistance technology. To avoid repetition, each model nameplate is listed only once, and the more expensive version to insure is always listed. We also excluded those vehicles where a relative cost figure was not included by the IIHS for all six payout categories.
The current retail model price came from auto industry data resource Kelley Blue Book and represents the manufacturer’s suggested retail price for the most recent model year. Some of the models on this list have been discontinued, and in those cases, the most recently available resale value of a previous model year is listed.
25. Chevrolet Sonic
> Annual average cost to insurer: $1,250
> Annual average collision cost to insurer: $484
> Type: Small 4-door
> Current model retail price: $16,720
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Source: Courtesy of Mitsubishi Motors North America
24. Mitsubishi Outlander Sport 4dr
> Annual average cost to insurer: $1,256
> Annual average collision cost to insurer: $526
> Type: Small SUV
> Current model retail price: $27,595
Source: contrastaddict / iStock Unreleased via Getty Images
23. Chrysler 300
> Annual average cost to insurer: $1,260
> Annual average collision cost to insurer: $562
> Type: Large 4-door
> Current model retail price: $30,445
22. Mercedes-Benz CLA class 4dr
> Annual average cost to insurer: $1,263
> Annual average collision cost to insurer: $681
> Type: Midsize luxury car
> Current model retail price: $37,850
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Source: DarthArt / iStock Editorial via Getty Images
21. Nissan Sentra
> Annual average cost to insurer: $1,277
> Annual average collision cost to insurer: $567
> Type: Small 4-door
> Current model retail price: $19,410
Source: Srdjanns74 / iStock Editorial via Getty Images
20. Hyundai Elantra
> Annual average cost to insurer: $1,280
> Annual average collision cost to insurer: $580
> Type: Small 4-door
> Current model retail price: $19,850
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Source: DarthArt / iStock Editorial via Getty Images
19. Nissan Versa
> Annual average cost to insurer: $1,291
> Annual average collision cost to insurer: $503
> Type: Small 4-door
> Current model retail price: $14,930
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Source: jetcityimage / iStock Editorial via Getty Images
18. Hyundai Sonata hybrid
> Annual average cost to insurer: $1,292
> Annual average collision cost to insurer: $649
> Type: Midsize 4-door
> Current model retail price: $24,150
Source: Coast-to-Coast / iStock Editorial via Getty Images
17. Nissan Maxima
> Annual average cost to insurer: $1,297
> Annual average collision cost to insurer: $640
> Type: Midsize 4-door
> Current model retail price: $36,990
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Source: kia.com
16. Kia Stinger 2WD/4WD
> Annual average cost to insurer: $1,317
> Annual average collision cost to insurer: $745
> Type: Large 4-door
> Current model retail price: $36,090
Source: contrastaddict / iStock Unreleased via Getty Images
15. Kia Forte
> Annual average cost to insurer: $1,321
> Annual average collision cost to insurer: $539
> Type: Small 4-door
> Current model retail price: $17,890
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Source: Spencer Platt / Getty Images
14. Nissan Altima
> Annual average cost to insurer: $1,342
> Annual average collision cost to insurer: $649
> Type: Midsize 4-door
> Current model retail price: $24,300
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Source: FGorgun / iStock Unreleased via Getty Images
13. Mercedes-Benz E class 4dr
> Annual average cost to insurer: $1,361
> Annual average collision cost to insurer: $768
> Type: Large luxury car
> Current model retail price: $54,250
Source: www.kia.com
12. Kia Rio
> Annual average cost to insurer: $1,366
> Annual average collision cost to insurer: $553
> Type: Mini 4-door
> Current model retail price: $17,015
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Source: shaunl / iStock Unreleased via Getty Images
11. Ford Mustang GT 2dr
> Annual average cost to insurer: $1,371
> Annual average collision cost to insurer: $836
> Type: Midsize sports car
> Current model retail price: $27,155
Source: BMW of North America
10. BMW 5 series 4dr 4WD
> Annual average cost to insurer: $1,384
> Annual average collision cost to insurer: $823
> Type: Large luxury car
> Current model retail price: $54,200
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Source: DarthArt / iStock Editorial via Getty Images
9. Chevrolet Camaro 2dr
> Annual average cost to insurer: $1,397
> Annual average collision cost to insurer: $749
> Type: Large sports car
> Current model retail price: $25,000
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Source: vesilvio / Getty Images
8. BMW 4 series 4dr
> Annual average cost to insurer: $1,429
> Annual average collision cost to insurer: $768
> Type: Midsize luxury car
> Current model retail price: $44,800
Source: Dmitrii Guldin / iStock Editorial via Getty Images
7. Land Rover Range Rover Velar 4dr 4WD
> Annual average cost to insurer: $1,437
> Annual average collision cost to insurer: $868
> Type: Midsize luxury SUV
> Current model retail price: $92,000
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Source: www.dodge.com
6. Dodge Challenger
> Annual average cost to insurer: $1,476
> Annual average collision cost to insurer: $749
> Type: Large 2-door
> Current model retail price: $28,095
Source: 152930510@N02 / Flickr / Public Domain
5. Infiniti Q50 4dr
> Annual average cost to insurer: $1,521
> Annual average collision cost to insurer: $791
> Type: Midsize luxury
> Current model retail price: $36,600
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Source: Courtesy of Tesla
4. Tesla Model S 4dr electric 4WD
> Annual average cost to insurer: $1,654
> Annual average collision cost to insurer: $1,156
> Type: Large luxury
> Current model retail price: $79,990
Source: Jarretera / iStock Editorial via Getty Images
3. Dodge Charger HEMI
> Annual average cost to insurer: $1,707
> Annual average collision cost to insurer: $914
> Type: Large 4-door
> Current model retail price: $29,995
Source: Courtesy of Mitsubishi
2. Mitsubishi Mirage G4
> Annual average cost to insurer: $1,730
> Annual average collision cost to insurer: $727
> Type: Mini 4-door
> Current model retail price: $14,295
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Source: Justin Sullivan / Getty Images News via Getty Images
1. Tesla Model X 4dr electric 4WD
> Annual average cost to insurer: $1,974
> Annual average collision cost to insurer: $1,389
> Type: Large luxury SUV
> Current model retail price: $91,190
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