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Car reviews - the most and least expensive cars to insure

By Compuquotes Team on March 27th, 2008
Auto Insurance

Considering a pricey automobile? Be sure to factor in insurance costs as we break down the least and most expensive cars to insure. The statistics are provided by Bankrate.com and state that the 10 most expensive cars to insure are:

1. Mitsubishi Lancer Evolution
2. Mercedes CL
3. Dodge SRT-4
4. Subaru Impreza WRX
5. Jaguar XK (convertible)
6. Lexus IS 300
7. Honda S2000
8. Acura RSX
9. Nissan 350Z
10. Jaguar XJ

Of course these are averages taken throughout the United States. The above cars may be more affordable than others depending on the location. The factors that go into location are based on what underwriters have viewed as risk trends such as what type of car is stolen more frequently in your area. What type of car is in more accidents in your area and some broad factors such as climate.

Looking at the list above you can see that the list is broken down between cars that are expensive and sporty and those that are very affordable and sporty. A car like the Mitsubishi Lancer Evolution is built for speed and it is affordable so the majority of drivers are young adults. A car that is purchased mainly by young adults will often rank high. The Suburu Impreza WRX and Nissan 350Z are also affordable sports cars that are purchased mainly by your adults.

I know some of you are looking at this list and thinking, "why isn't there a Ferrari, Bentley or Lamborghini on this list seeing they are so expensive. First reason is the majority of the people that can afford these cars are middle age and aren't known as being a high risk. The second and possibly the main reason is the fact that a Ferrari, Bentley or Lamborghini aren't daily drivers. These cars are usually categorized as pleasure vehicles and if you drive them less than a few thousand miles a year the chances of a claim are very small.

So when you shopping for your Saleen S7 be sure to ask your Car Insurance Agent what the rates are categorizing the car as a pleasure vehicle.

The 10 least expensive cars to insure are:

1. Volvo XC90
2. Chevrolet Malibu Maxx
3. GMC Safari
4. Buick Le Sabre
5. Nissan Pathfinder Armada (2004 only)
6. Pontiac Montana (standard model)
7. Mazda MPV
8. Ford Thunderbird
9. Pontiac Montana (long wheel-based model)
10. Ford Taurus (station wagon)

As you can clearly see, these vehicles are usually purchased by an older driver and soccer moms. This demographic is significantly less likely to produce a claim.

So when purchasing your next car be sure to ask your insurance agent about the particular car you have interest in. Some may not be as obvious and although the car is affordable you may get serious sticker shock when viewing the premium.

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