A look at the most and least expensive 2011 vehicles to insure.
New car is one of the biggest purchases you make, even before you consider how much the insurance is going to cost. Generally speaking, the more expensive the car, the more likely it is to come with a hefty insurance bill. Insurance rates for a vehicle, irrespective of the driver, are determined primarily by how much agencies have paid out for repairs on that model in the past.
"Rates could be high because there are lots of claims on the car or because the few claims that do exist are high since the parts are so expensive," Amy Danise, senior managing editor of Insure.com, told MainStreet. This is why luxury cars like Mercedes and BMW models cost more to insure. Driver behavior also contributes to the cost of insuring, say, a convertible. "People are buying these cars to go fast and that's why they're crashing them," Danise explains.
Conversely, family cars like station wagons or sedans with low horsepower generate lower insurance rates since they're used more often to commute than to drag race. Which 2011 models specifically present the best (and worst) insurance deals?
Methodology
Insure.com commissioned Quadrant Information Services, which monitors insurance rates, to calculate the average premiums for a single 40-year-old male driver who commutes 12 miles to work each day. This theoretical driver has a clean driving record and good credit. All policies considered had limits of $100,000 for injury liability for one person, $300,000 for all injuries and $50,000 for property damage in an accident. They also had a $500 deductible on collision and comprehensive coverage.
Quadrant Information Services used car insurance rates from six large carriers (State Farm, Allstate, Progressive, GEICO, Farmers and Nationwide) in 10 ZIP codes per state.
Not all models are available for calculating average rates, especially some exotic cars, which is why you won't see Lamborghinis on the list, though, according to Insure.com, you can assume those carry hefty insurance bills. Note also that a person's rate may vary depending on their actual driving record.
Most Expensive
1. Mercedes SL65 AMG
Average National Annual Premium: $3,544
Style: Two-door convertible
Cylinders: 12
Style: Two-door convertible
Cylinders: 12
2. BMW 750i
Average National Annual Premium: $3,281
Style: Four-door sedan hybrid
Cylinders: 8
Style: Four-door sedan hybrid
Cylinders: 8
3. BMW 750Li
Average National Annual Premium: $3,281
Style: Four-door sedan hybrid
Cylinders: 8
Style: Four-door sedan hybrid
Cylinders: 8
4. Mercedes SL63 AMG
Average National Annual Premium: $3,263
Style: Two-door convertible
Cylinders: 8
Style: Two-door convertible
Cylinders: 8
5. Mercedes S65 AMG
Average National Annual Premium: $3,221
Style: Four-door sedan turbo
Cylinders: 12
Style: Four-door sedan turbo
Cylinders: 12
Least Expensive
1. Chrysler Town and Country
Average National Annual Premium: $1,092
Style: Four-door wagon
Cylinders: 6
Style: Four-door wagon
Cylinders: 6
2. Sienna 4 Cylinder
Average National Annual Premium: $1,101
Style: Five-door wagon
Cylinders: 4
Style: Five-door wagon
Cylinders: 4
3. Toyota Sienna LE
Average National Annual Premium: $1,108
Style: Five-door wagon
Cylinders: 4
Style: Five-door wagon
Cylinders: 4
4. Honda Odyssey LX
Average National Annual Premium: $1,115
Style: Five-door hybrid, two-wheel drive, single overhead Camshaft engine
Cylinders: 6
Style: Five-door hybrid, two-wheel drive, single overhead Camshaft engine
Cylinders: 6
5. Nissan Murano SL
Average National Annual Premium: $1,128
Style: Two-wheel drive, four-door utility
Cylinders: 6
Style: Two-wheel drive, four-door utility
Cylinders: 6
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