What Types of Cars Have High Insurance Rates?

You already know that cars have huge differences when it comes to factors like speed, size, and safety.  But did you know that there are also huge differences in the premiums for certain cars?  The type of vehicle you drive can have a major impact on how much you pay for auto insurance, especially if you own a small car, small SUV, or high-performance luxury vehicle.  Our Oklahoma City car accident lawyers count down 10 of the most expensive cars to insure in 2016.  Is yours on the list?

Are Small Cars More Dangerous Than Large Cars?

We’ve already written about some of the factors that impact car insurance rates, which include your driving history, your credit score, your occupation, and even your gender (a topic we covered in depth in our article on why men pay more for car insurance).  The vehicle itself is another huge factor in determining your premium.  When creating policies, insurers weigh variables like maintenance costs, repair costs, the likelihood of theft, and the likelihood that you will get into an accident based on the type of car you drive.

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In particular, there seems to be a correlation between accident frequency and the size of a vehicle, partially due to the way perceptions of maneuverability can influence a driver’s behavior.  Russ Rader, senior vice president for communications at the Insurance Institute for Highway Safety (IIHS), points to the statistical dangers of small cars.

“Contrary to the idea that smaller cars can help you avoid crashes,” Rader explains, “the data shows that small cars get into more accidents.  If you feel like you have a vehicle that can zip in and out of traffic, chances are you’ll do that.”

Based on the IIHS’ own data for 2011 and equivalent model years, here’s how small and large cars compared when it came to driver fatality rates in their respective vehicle categories:

  • 2-Door Vehicles
    • Small – Honda Civic (overall IIHS death rate of 76)
    • Large – Dodge Challenger (29)
  • 4-Door Vehicles
    • Small – Nissan Versa sedan (130)
    • Large – Buick Lacrosse 2WD (43)
  • Pickup Trucks
    • Small – Toyota Tacoma Xtra 2WD (28)
    • Large – Chevrolet Silverado 1500 Crew 4WD (79)

(In this instance, you can see the trend is bucked: the large pickup actually has a significantly higher fatality rate than its equivalent in the small category.)

  • SUVs
    • Small – Jeep Patriot 2WD (57)
    • Large – Ford Expedition 2WD (36)

Only in the pickup category do large vehicles have higher fatal accident rates than small vehicles.  Across three out of four groups, large vehicles consistently outperform their compact counterparts in terms of driver safety and accident severity.

Top 10 Most Expensive Vehicles to Insure in 2016

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Below we’ve listed the costliest cars to insure for 2016, beginning at the bottom and working our way toward the vehicle with the most expensive premium in the United States.  Unsurprisingly, luxury heavyweights Porsche and Mercedes-Benz both make multiple appearances on the list, with the latter occupying no fewer than three of the top slots.

  1. Porsche 911 Carrera GT3 RS – Average premium of $3,212
  2. Audi RS7 Quattro Prestige – $3,229
  3. Land Rover Range Rover SV Autobiography Black LWB – $3,245
  4. BMW M6 Gran Coupe – $3,309
  5. Nissan GT-R Nismo – $3,476
  6. Porsche Panamera S Executive – $3,484
  7. Mercedes-Benz S63 AMG 4Matic – $3,513
  8. Mercedes-Benz S600 – $3,539
  9. Mercedes-Benz SL65 AMG – $3,797

And now, for the grand reveal: with a hefty average premium of $4,048 – the only vehicle to cross the $4,000 threshold – the number one most expensive car to insure in 2016 is the Dodge Viper GT.

Schedule a Free Consultation with Our Oklahoma Car Accident Lawyers

While some people break the law and drive while uninsured, Oklahoma requires all drivers to carry certain types and amounts of auto insurance coverage.  If you were injured in a car accident in Oklahoma, the driver who hit you may be liable for your medical bills and other losses up to the limits of his or her policy.

With over 75 years of combined experience handling auto accident claims, the skilled Oklahoma personal injury attorneys of Hasbrook & Hasbrook are here to help you fight for the maximum possible compensation.  We are aggressive courtroom opponents who are prepared to go to trial if the at-fault driver’s insurance company refuses to make you a fair settlement offer.

If you or one of your family members was hurt in a car accident in Oklahoma City, call the law offices of Hasbrook & Hasbrook at (405) 698-3040 to set up a free legal consultation right away.  We represent injured drivers, passengers, bicyclists, and pedestrians throughout the Oklahoma City area, including Moore, Edmond, Norman, El Reno, Chickasha, Stillwater, and more.