Luxury sports cars can be expensive to insure, but not just because they’re expensive to buy
Cars which can accelerate quickly and reach high speeds are seen by insurers to be greater risks, while pricey parts and long repair times also add to insurance costs.
Every car on the market belongs to one of 50 car insurance groups set by the Group Rating Panel, made up of members of the Association of British Insurers and the Lloyds Market Association – see more on how cars are assigned different car insurance groups in our guide to the cheapest cars to insure and scroll down to see 10 of the most expensive cars to insure:
1. Mercedes-Benz CL-Class
The CL-Class is often regarded as being Mercedes-Benz’s top of the range coupe model – its high running and servicing costs help make it costly to insure.
2. BMW 6-Series
Whether it’s the convertible or coupé, the 6-Series range is known for its sleek design and high performance.
3. Porsche 911
While the Porsche 911 Cabriolet has an economical engine and sophisticated security features which should help keep running costs down, high servicing costs can increase the cost of cover.
4. Chevrolet Corvette
The iconic Corvette, first introduced in 1953, can reach a top speed of 170 mph – a major contributing factor to its high insurance costs.
5. Lexus LS
The classy LS is the only Lexus model within car insurance group 50 – quite pricey as new and with poor green credentials, the LS comes with of plenty of interior space and high tech gadgets.
6. Cadillac Escalade
What’s known in the US as a ‘sport utility vehicle’ (SUV), the Escalade can comfortably seat up to eight adults, while its powerful gas guzzling engine makes sure insurance costs are kept high.
7. Ferrari F430
Just the two seats in this Ferrari, a high performance supercar which can cost upwards of £140,000 to buy brand new.
8. Audi R8 Spyder
The R8’s huge engine and effortless acceleration can help it reach a top speed of 194 mph, while its hefty running costs also ensure it sits within car insurance group 50.
9. Jaguar XK Coupé
The second generation XK costs upwards of £60,000 – Jaguar designers were said to have modelled the sleek look on actress Kate Winslet’s curves.
10. Lotus
In keeping with the Lotus tradition of starting model names with the letter, ‘E’, the Evora is the only Lotus model in car insurance group 50.
Data sources: The Motor Insurance Repair Research Centre (Thatcham) and Parkers.co.uk
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