Detroit Bureau on Twitter

Posts Tagged ‘insurance prices’

Survey Shows Insurance Rates Not Related to Car Price

Variation widens as vehicle cost increases.

by on May.23, 2014

Want a Ferrari California? Make sure you shop for insurance as the prices could vary by as much as 26%, according to a recent study.

Let the buyer beware… or least be careful is the warning insurance buyers should heed based on a new study of car insurance rates by Wallet

“It is wrong to assume a perfect correlation between the price of a car and the insurance cost. Insurance premiums for cars in the same price range can differ by as much as 26%,” according to the study.

Insider News!

The variation in insurance premiums actually increases on more expensive vehicles. Wallet Hub analysts estimated that based on its analysis, only about 25% of the variation in insurance premiums across car types can be attributed to differences in car price. (more…)

What Are the Cheapest – and Most Expensive – Cars to Insure?

Hint: Boring is better.

by on Feb.09, 2012

It may have a quarter as many seats, but the Audi R8 Spyder will cost three times more than a Toyota Sienna minivan to insure.

If you’re worried about the cost of insuring your next car consider this simple mantra: “boring is better.”

Or so finds a new survey of automotive insurance, which finds that sports and luxury cars are the most expensive products to insure, while minivans – the Toyota Sienna people-mover, in particular – are among the most affordable.

“Minivans have always had a strong showing in our ‘least expensive’ rankings,” said Amy Danise, editorial director of “They regularly prove to be safe, economical vehicles.”

Your Trusted Source!

The Sienna, for example, costs an average $1,111 to insure, according to the site’s annual survey, or less than a third what it would cost to cover the2-seat, 197 mph Audi R8 Spyder Quattro Convertible, at $3,384.  Audi, in fact, has the dubious distinction of having two of the ten most expensive cars to insure, BMW also has 2, while Porsche and Mercedes-Benz each have three.