Not surprisingly, model year 2015 sports cars and convertibles that sell for more than $100,000 and can reach speeds of up to 200 mph are the most expensive cars to insure, according to a new study from Insure.com.
These vehicles are very powerful and very expensive to repair and replace. They often combine parts made of carbon fiber and other exotic materials with expensive engines that can crank out 500 horsepower or more, says Insure.com. Cars like these typically appeal more to men, who usually face higher premiums.
Insure.com commissioned Quadrant Information Services to calculate average auto insurance rates for 2015 models by examining insurance rates from Allstate, Farmers, GEICO, Nationwide, Progressive, and State Farm for more than 1,500 vehicle models in every state. The rates were based on full coverage for a singe 40-year-old male with a clean record and good credit who commutes 12 miles to work every day, with policy limits of $100,000 for injury liability for one person, $300,000 for all injuries, and $50,000 for property damage in an accident, as well as a $500 deductible on collision and comprehensive coverage. Most expensive rankings were determined by the worst-performing trim line of each model.
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