The Most Expensive Car Insurance in 2024

If you’re in the market for a new car, don’t forget to include insurance premiums in your budget. Auto insurance rates vary widely, depending on various factors like your location, driving record, the car you choose, and the insurance company that writes your policy.

For example, drivers in Maryland and Nevada pay some of the highest rates for car insurance. Owning a car with expensive parts, like the Infiniti Q50, can also increase your rates.^[1] That’s why it’s important to compare insurance rates and vehicle features before you commit to buying a car.

Here’s what to know about the most expensive car insurance policies and how you can save money.

Most expensive liability-only insurance

The type of coverage you buy plays a major role in your car insurance costs. A liability-only insurance policy has the cheapest rates because it includes only the state-mandated minimum coverage.

But rates on a liability-only car insurance policy can vary widely with each insurer because insurers base their rates on your age, driving history, vehicle type, ZIP code, and more. Each insurer weighs these criteria differently.

The following table shows the most expensive companies for buying liability-only insurance.

Most expensive full-coverage insurance

Full-coverage car insurance offers more robust protection than liability only. You’ll get the state-mandated minimum insurance along with collision and comprehensive coverages. These protections help cover your medical expenses and property damage to your car in an accident you cause. You may also be able to include medical payments, uninsured/underinsured motorist, and personal injury protection coverages.

The more coverage you add, the more your premium will increase.

The following table shows the most expensive companies for buying full-coverage car insurance.

Most expensive states for car insurance

Car insurance rates vary widely in each region, state, and even between different ZIP codes. Premiums for full-coverage policies tend to be highest in Maryland, Nevada, and Michigan, according to Insurify data.

Different factors influence car insurance rates in each of these states. For example, Nevada’s higher-than-average speed limits and congested tourist areas contribute to the high average cost of car insurance in the Silver State. And Michigan has some of the highest minimum insurance requirements in the U.S.

The table below shows the average monthly quotes for liability and full coverage in the 10 most expensive states for car insurance.

Cheapest states for car insurance

Drivers in North Carolina, New Hampshire, and Wisconsin pay the lowest amount for both full-coverage and liability-only car insurance, according to Insurify data. Each of these states has a relatively low population density, which may contribute to the lower premium costs. Wisconsin and New Hampshire also have a below-average vehicle fatality rate, which helps keep rates down.^[2]

Compare Rates for Your Next Car Insurance Policy

Search rates from top insurers to find the best coverage for you

Enter your ZIP codeView My Quotes

Secure. Free. Easy-to-use.

Based on 3,806+ reviews

4.8/5

Most expensive cars to insure

The car you drive is one of the most important factors influencing your car insurance costs. When calculating rates, insurance companies check claims previously paid on similar models.

Driving a car associated with expensive claims, high repair costs, or requiring specialty parts may increase your insurance rates significantly. Sports cars and luxury vehicles typically have higher car insurance premiums because they’re more likely to be stolen and generally cost more to repair after an accident.

The Tesla Model 3 is the most expensive vehicle to insure, according to Insurify data. Premiums for the Infiniti Q50 and Q60 and the Dodge Charger are also higher-than-average.

Here, you can see a collection of some of the most expensive vehicles to insure.

Least expensive cars to insure 

The Subaru Forester, Chrysler Town & Country, and Dodge Caravan are some of the least expensive vehicles to insure, according to Insurify data.

The Insurance Institute for Highway Safety named the Subaru Forester a top safety pick in 2023, which helps explain why rates are low.^[3] Generally, cars with good safety records can help you save on insurance rates because they have fewer and less expensive claims.

In the table below, you’ll find the cheapest cars to insure based on Insurify data.

Who pays the most for car insurance? 

Car insurance companies look for ways to reduce risk when setting rates. Drivers who pose more risk — such as young drivers or drivers with a violation on their records — generally pay more for car insurance.

• 

  Drivers with an incident

  Drivers with speeding tickets, accidents, DUIs, or other moving violations may have trouble finding affordable car insurance because insurers see them as riskier policyholders. Insurers raise rates or potentially deny coverage altogether to make up for that risk.

  Fortunately, you may be able to lower your car insurance rates by searching for discounts, comparing insurance quotes, and exploring usage-based insurance programs.

• 

  Teen drivers

  Drivers younger than 25 pay the highest car insurance rates because they have little to no experience behind the wheel.^[4] They’re also more likely to skip wearing seat belts, exceed the speed limit, and engage in distracted driving.^[5] Statistically, teen drivers are more likely to be involved in serious crashes than any other age group.

  All these factors increase risk for car insurance companies, so they charge higher premiums to younger drivers.

  To save money on car insurance, teen drivers can join their parents’ car insurance policy and look for discounts geared toward young drivers, like good student discounts. Shopping around to find the lowest rates for teenagers can also help.

• 

  Drivers with a lapse in coverage

  All U.S. states except New Hampshire require drivers to carry at least a minimum amount of liability insurance. Letting your car insurance lapse for any period can leave you vulnerable to legal and financial consequences, including difficulty getting a new auto policy.

  Insurers may see you as a high-risk driver because you’re more likely to submit insurance claims and miss payments. So, when you do secure coverage, you may pay higher rates. The amount your premium increases depends on the insurer and how long your coverage has lapsed.

  If you’re buying a policy after a lapse, you may be able to save money by comparing car insurance rates.

• 

  Luxury car drivers

  Auto insurance companies consider factors like a car’s value and potential cost of repairs when setting rates. Because luxury and exotic cars are more expensive, require specialty parts, and are at a higher risk of theft, they typically cost more to insure. Owners of certain car models are also more likely to speed, which can also push rates higher.

  If you’re looking for car insurance for your specialty vehicle, get quotes from insurance companies that specialize in exotic and luxury cars. Looking through a wide range of offers can help you find the lowest rate.

Find Cheap Car Insurance Near You

Check quotes from 100+ top insurance companies

Enter your ZIP codeGet My Quotes

Secure. Free. Easy-to-use.

Based on 3,806+ reviews

4.8/5

How insurers calculate car insurance rates

Car insurance companies consider a number of factors when setting your premium, including your:

• Age

• Driving history

• Model of the vehicle you drive

• Gender

• Marital status

• Amount of coverage you buy

• Credit-based insurance score (in states where this practice is legal)

Most expensive car insurance FAQs