Cheapest Insurance For Luxury Cars That Wins Customers

Car insurance rates are a major factor in the annual cost of ownership and even premium buyers want to minimize these costs by finding luxury cars with the lowest insurance premiums. The trick is not to trade too much in luxury just to lower your score. With this in mind the experts at Autobytel have tried to balance both sides of the equation with todays list which means choosing cars from non-traditional luxury brands. Its not all about premium features as it offers a lot of convenience for discerning owners. On the other hand it has a low premium which makes customers spend more money for this facility in the first place.

How Vehicles Affect Car Insurance Rates

The claims history of the vehicle you insure can have a big impact on your car insurance rates. If your insurance company receives frequent and/or expensive claims for that model even if you have a good driving record it will increase your own premium.

And an expensive vehicle with a high cash value can result in an expensive claim when it is factored into the total and pays for collision or comprehensive insurance. This fee is based on the total value of the vehicle not the MSRP or the price you pay.

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Cheapest Insurance For Luxury Cars

Tesla Model S

Cheapest Insurance For Luxury Cars Option: Progressive

Progressive doesnt score perfectly on the MoneyGeek rating scale but consistently scores highly in most areas. It also scores highly for affordability as it has the cheapest luxury car insurance policy for the Tesla Model S. USAA is the only company that offers lower premiums. This is a good option if you come from a military family.

Luxury car insurance rates for the Tesla Model S vary by model. Covering a vehicle purchased in 2020 will cost an average of $2665 per year. If you have a 2016 model thats about $1081 more than the average annual premium of $1584.

Mercedes-Benz GLA 250

Cheapest Insurance For Luxury Cars option :GEICO

The Mercedes-Benz GLA 250 is one of the most popular luxury cars in the market. Insurance costs more than a standard vehicle but you can get the cheapest luxury auto insurance for this vehicle from GEICO according to MoneyGeeks analysis.

Among various companies MoneyGeek estimated GEICOs annual premium at $1145. But it just doesnt work. GEICO also received an excellent rating for financial stability another important area to consider when choosing a luxury car insurance provider. We compared car insurance premiums and found an average difference of $130.

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Acura MDX

Cheapest Insurance For Luxury Cars : GEICO

It is very important to have a strong insurance policy when it comes to luxury. MoneyGeek has determined that GEICO offers the best cheap luxury car insurance for the Acura MDX.

Among the various categories that MoneyGeek used to rate luxury car insurance companies GEICO was perfect on two fronts. Financial stability and low prices. This means that if you buy luxury car insurance at a reasonable price you will be able to pay off authorized claims without any problems. GEICO also has the lowest annual insurance premium among the various telecommunications carriers included in MoneyGeeks survey. Their policies averaged $1056 per year.

You should consider how your luxury car insurance premium will change based on the age of the vehicle. The 2018 model policies cost an average of $1364 per year while the 2005 models cost an average annual premium of only $1038. Thats a difference of $326.

Audi A4

Cheapest Insurance For Luxury Cars Options: GEICO

At an average of $1293 a year GEICO is the cheapest luxury auto insurance provider available for your Audi A4. Affordability plays a big part in the rankings but MoneyGeek also uses other factors to rate companies that offer luxury car insurance. Financial strength was taken into consideration and GEICO scored perfect in this area. However the actual premium may vary as rates are affected by the age of the car. If you have a 2005 A4 youll pay an average annual price of $1068. Prices go up $705 for the 2020 model. Your premium auto insurance costs an average of $1773 a year.

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What is Luxury Car Insurance?

What made it a luxury car without factory materials was that it had the most expensive substances in the interior and the most powerful and expensive engines. This is what makes luxury car insurance so important. Luxury cars are more expensive to fix or repair after an accident or theft.

Dont mistake exotic cars for luxury cars—theyre not convertibles. Luxury cars are primarily made for comfort and experience. Having one is considered a status symbol. Unusual cars are often called supercars. Also despite having high-quality materials the manufacturer built it for comfort not speed.