Revealed - the cheapest luxury vehicles to insure in 2021

Revealed - the cheapest luxury vehicles to insure in 2021 | Insurance Business America

Revealed - the cheapest luxury vehicles to insure in 2021

As the economy rebounds from the disruption caused by the COVID-19 pandemic, pent-up demand from the country’s wealthy is revving up sales of luxury vehicles.

Recent data from analytics firm J.D. Power has revealed that while sales of automobiles priced under $40,000 saw a decline, those of vehicles costing at least $70,000 posted significant growth amid the pandemic. The drop was steepest for cars below $20,000, with sales registering a 20% year-on-year slide in November 2020. By contrast, sales of vehicles between $70,000 and $80,000 and those priced at $80,000 to $90,000 rose 22% and 20%, respectively, during the period.

In an interview with Agence France-Presse, Felipe Munoz, global automotive analyst at Jato Dynamics, said that just like regular earners, the rich cut back on spending at the height of the coronavirus outbreak, which was reflected in the “double-digit” decline in sales of the “most coveted cars.”

However, Munoz added that “customers for these cars were not as exposed as others” to the crisis’ financial fallout and many of them merely postponed their purchases.

Meanwhile, Chong Gao, director of product management R&D at California-based auto insurer Mercury Insurance, explained the rise in demand as some drivers treating vehicle ownership as a “passion and not just a necessity.”

“Not only do luxury cars provide high-end comfort and performance capabilities, they are also equipped with lavish interiors and top-of-the-line technology and safety features,” Gao said, adding that these benefits often resulted in higher insurance costs.

Read more: Revealed – which states have the most expensive and cheapest car insurance

To find out which luxury vehicles are the least expensive to insure, Gao’s team compared full-coverage premiums for 2021 model luxury sedans and SUVs for a hypothetical driver with average ratings in relevant personal criteria such as age, daily commute, and driving record.

Mercury Insurance came up with the list below, with the Mercedes A220 topping the sedan segment and Lincoln Nautilus taking the top spot for SUVs. In addition to California, the company provides car insurance to clients in Arizona, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas, and Virginia.

To get the nationwide numbers, Insurance Business referred to data from comparison website Insure.com. The rates on the tables below are based on full-coverage premiums with standard policy limits and deductibles for a 40-year-old male driver with a clean driving record and who commutes 12 miles each day. All figures correct as of September 07, 2021.

Here are the 10 least expensive luxury cars to insure:

1. Mercedes A220/A250*

Model

Style

Cylinders

National average rate

A220 4MATIC

4-Door Sedan Turbo AWD

4

$1,786

Source: Insure.com

 

2. Audi A3/S3*

Model

Style

Cylinders

National average rate

A3 2.0T Sport Premium

4-Door Sedan Turbo

4

$1,834

A3 2.0T Premium

4-Door Sedan Turbo

4

$1,842

A3 2.0T Premium Plus

4-Door Sedan Turbo

4

$1,874

A3 2.0T Quattro Premium

4-Door Sedan Turbo AWD

4

$1,882

A3 2.0T Quattro Premium Plus

4-Door Sedan Turbo AWD

4

$1,902

A3 2.0T Sport Premium Plus

4-Door Sedan Turbo

4

$1,904

S3 2.0T Quattro Premium Plus

4-Door Sedan AWD Turbo

4

$2,234

S3 2.0T Quattro Premium

4-Door Sedan AWD Turbo

4

$2,251

Source: Insure.com

 

3. Acura ILX*

Model

Style

Cylinders

National average rate

ILX 2.4L

4-Door Sedan

4

$1,575

ILX 2.4L Premium

4-Door Sedan

4

$1,589

ILX 2.4L Premium A-Spec

4-Door Sedan

4

$1,607

Source: Insure.com

 

4. Acura TLX*

Model

Style

Cylinders

National average rate

TLX 2.4L

4-Door Sedan

4

$1,678

TLX A-Spec

4-Door Sedan

4

$1,692

TLX Tech 2.4L

4-Door Sedan

4

$1,723

TLX SH-AWD

4-Door Sedan

6

$1,747

TLX 3.5L

4-Door Sedan

6

$1,753

TLX SH PMC Edition

4-Door Sedan

6

$1,756

TLX SH Tech

4-Door Sedan

6

$1,806

TLX A-Spec

4-Door Sedan

6

$1,836

TLX SH A-Spec

4-Door Sedan

6

$1,849

Source: Insure.com

 

5. Lexus IS/ES

Model

Style

Cylinders

National average rate

ES 350

4-Door Sedan

6

$1,907

ES 350 Luxury

4-Door Sedan

6

$2,002

ES 350 Ultra Luxury

4-Door Sedan

6

$2,004

IS 300

4-Door Sedan Turbo

4

$2,018

ES 350 F-Sport

4-Door Sedan

6

$2,031

ES 300H

4-Door Sedan Hybrid

4

$2,059

ES 300H Luxury

4-Door Sedan Hybrid

4

$2,075

ES 300H Ultra Luxury

4-Door Sedan Hybrid

4

$2,091

IS 300 F-Sport

4-Door Sedan Turbo

4

$2,121

IS 300

4-Door Sedan Turbo AWD

6

$2,133

IS 300 F-Sport

4-Door Sedan Turbo AWD

6

$2,137

IS 300

4-Door Sedan AWD

6

$2,144

IS 350

4-Door Sedan

6

$2,210

IS 350

4-Door Sedan AWD

6

$2,215

Source: Insure.com

 

6. BMW i3*

Model

Style

Cylinders

National average rate

i3 S

4-Door Hatchback Electric

N/A

$1,844

i3

4-Door Hatchback Electric

N/A

$1,857

i3 S Range Extender

4-Door Hatchback Electric

N/A

$2,099

Source: Insure.com

 

7. Infiniti Q50/Q60

Model

Style

Cylinders

National average rate

Q50 Luxe

4-Door Sedan Turbo

4

$2,154

Q50 Luxe

4-Door Sedan Turbo

6

$2,195

Q60 Pure

2-Door Coupe Turbo

6

$2,355

Q50 Edition 30

4-Door Sedan Turbo

6

$2,367

Q50 Premium

4-Door Sedan Turbo

6

$2,482

Q50 Red Sport 400

4-Door Sedan Turbo

6

$2,565

Q60 Luke

2-Door Coupe Turbo

6

$2,587

Q60 Red Sport 400

2-Door Coupe Turbo

6

$2,621

Q50 Red Sport 400

2-Door Coupe Turbo

6

$3,484

Source: Insure.com

 

8. BMW 330/M340*

Model

Style

Cylinders

National average rate

330i XDrive

4-Door Sedan Turbo

4

$2,053

330i

4-Door Sedan Turbo

4

$2,114

330e

4-Door Sedan Turbo Hybrid

4

$2,380

M340i

4-Door Sedan Turbo

6

$2,392

M340i XDrive

4-Door Sedan Turbo

6

$2,451

Source: Insure.com

 

9. Audi S4*

Model

Style

Cylinders

National average rate

S4 3.0 Quattro Premium

4-Door Sedan Turbo

6

$2,296

S4 3.0 Quattro Premium Plus

4-Door Sedan Turbo

6

$2,372

S4 3.0 Quattro Prestige

4-Door Sedan Turbo

6

$2,417

Source: Insure.com

 

10. Mercedes CLA250/C300*

Model

Style

Cylinders

National average rate

C300 4MATIC

4-Door Sedan Turbo AWD

4

$2,046

C300

4-Door Sedan Turbo

4

$2,056

CLA250

4-Door Coupe Turbo

4

$2,077

C300 4MATIC

2-Door Convertible Turbo AWD

4

$2,078

C300

2-Door Convertible Turbo

4

$2,109

CLA250 4MATIC

4-Door Coupe Turbo AWD

4

$2,122

C300

2-Door Coupe Turbo

4

$2,207

C300 4MATIC

2-Door Coupe Turbo AWD

4

$2,233

Source: Insure.com

 

And these are 10 least expensive luxury SUVs to insure:

1. Lincoln Nautilus*

Model

Style

Cylinders

National average rate

Nautilus

2WD 4-Door Utility Turbo

4

$1,557

Nautilus Select

2WD 4-Door Utility Turbo

4

$1,566

Nautilus

4WD 4-Door Utility Turbo

4

$1,570

Nautilus Select

4WD 4-Door Utility Turbo

4

$1,605

Nautilus Reserve

4WD 4-Door Utility Turbo

4

$1,660

Nautilus Black Label

4WD 4-Door Utility Turbo

4

$1,766

Source: Insure.com

 

2. Acura RDX*

Model

Style

Cylinders

National average rate

RDX

4-Door 2WD Utility Turbo

4

$1,467

RDX Tech

4-Door 2WD Utility Turbo

4

$1,503

RDX

4-Door 4WD Utility Turbo

4

$1,514

RDX Tech

4-Door 4WD Utility Turbo

4

$1,527

RDX A-Spec

4-Door 2WD Utility Turbo

4

$1,530

RDX A-Spec

4-Door 4WD Utility Turbo

4

$1,532

RDX Adv Package

4-Door 4WD Utility Turbo

4

$1,535

RDX Adv Package

4-Door 2WD Utility Turbo

4

$1,546

Source: Insure.com

 

3. Acura MDX*

Model

Style

Cylinders

National average rate

MDX

4-Door 2WD Utility

6

$1,571

MDX Tech

4-Door 2WD Utility

6

$1,582

MDX SH

4-Door 4WD Utility

6

$1,590

MDX PMC Edition

4-Door 4WD Utility

6

$1,603

MDX A-Spec

4-Door 4WD Utility

6

$1,632

MDX Advance

4-Door 2WD Utility

6

$1,663

MDX SH Advance

4-Door 4WD Utility

6

$1,663

MDX Tech

4-Door 4WD Utility

6

$1,669

MDX SH Sport Tech

4-Door 4WD Utility Hybrid

6

$1,685

MDX SH Advance

4-Door 4WD Utility Hybrid

6

$1,723

Source: Insure.com

 

4. Mercedes GLC300*

Model

Style

Cylinders

National average rate

GLC300 4MATIC

4WD 4-Door Utility Turbo

4

$1,769

GLC300

2WD 4-Door Utility Turbo

4

$1,779

Source: Insure.com

 

5. Infiniti QX50/QX60*

Model

Style

Cylinders

National average rate

QX50 Pure

2WD 4-Door Utility

4

$1,684

QX50 Luxe

2WD 4-Door Utility

4

$1,697

QX50 Pure

4WD 4-Door Utility

4

$1,704

QX50 Autograph

2WD 4-Door Utility

4

$1,742

QX50 Essential

2WD 4-Door Utility

4

$1,762

QX50 Autograph

4WD 4-Door Utility

4

$1,783

QX50 Luxe

4WD 4-Door Utility

4

$1,783

QX50 Essential

4WD 4-Door Utility

4

$1,792

QX60 Luxe

4WD 4-Door Utility

6

$1,850

QX60 Luxe

2WD 4-Door Utility

6

$1,856

Source: Insure.com

 

6. Lexus NX/RX*

Model

Style

Cylinders

National average rate

NX 300 F-Sport

4-Door SUV Turbo

4

$1,634

NX 300 Luxury

4-Door SUV Turbo

4

$1,647

NX 300

4-Door SUV Turbo AWD

4

$1,659

NX 300

4-Door SUV Turbo

4

$1,664

NX 300 Luxury

4-Door SUV Turbo AWD

4

$1,681

NX 300 F-Sport

4-Door SUV Turbo AWD

4

$1,687

NX 300h

4-Door SUV Turbo Hybrid

4

$1,715

RX 350L

4-Door Utility

6

$1,719

RX 350L

4-Door Utility AWD

6

$1,720

NX 300h Luxury

4-Door SUV Turbo Hybrid

4

$1,736

RX 350

4-Door Utility

6

$1,737

RX 350

4-Door Utility AWD

6

$1,769

RX 350 F Sport Performance

4-Door Utility

6

$1,815

RX 350L Luxury

4-Door Utility

6

$1,839

RX 350L Luxury

4-Door Utility AWD

6

$1,857

RX 350 F Sport Performance

4-Door Utility AWD

6

$1,872

RX 450H

4-Door Utility AWD Hybrid

6

$1,883

RX 450HL

4-Door Utility AWD Hybrid

6

$1,898

RX 450HL Luxury

4-Door Utility AWD Hybrid

6

$1,948

RX 450H F-Sport

4-Door Utility AWD Hybrid

6

$1,953

Source: Insure.com

 

7. Lexus UX*

Model

Style

Cylinders

National average rate

UX 200

4-Door Utility

4

$1,575

UX 250h

4-Door Utility Hybrid

4

$1,584

UX 200 F-Sport

4-Door Utility

4

$1,592

UX 250h F-Sport

4-Door Utility Hybrid

4

$1,633

UX 200 Luxury

4-Door Utility

4

$1,634

UX 250h Luxury

4-Door Utility Hybrid

4

$1,637

Source: Insure.com

 

8. BMW X5*

Model

Style

Cylinders

National average rate

X5 SDrive 40i

2WD 4-Door SUV Turbo

6

$1,952

X5 XDrive 40i

4WD 4-Door SUV Turbo

6

$2,062

X5 XDrive 50i

4WD 4-Door SUV Turbo

8

$2,172

X5 XDrive M50i

4WD 4-Door SUV Turbo

8

$2,528

X5 M Competition Xdrive

4WD 4-Door SUV Turbo

8

$2,880

X5 M

4WD 4-Door SUV Turbo

8

$2,993

Source: Insure.com

 

9. Infiniti QX80*

Model

Style

Cylinders

National average rate

QX80

2WD 4-Door Utility

8

$2,080

QX80 Luxe

2WD 4-Door Utility

8

$2,080

QX80

4WD 4-Door Utility

8

$2,095

QX80 Limited

4WD 4-Door Utility

8

$2,352

Source: Insure.com

 

10. Cadillac XT5*

Model

Style

Cylinders

National average rate

XT5 Luxury

2WD 4-Door Utility

4

$1,594

XT5 Premium Luxury

2WD 4-Door Utility

4

$1,634

XT5 Luxury

2WD 4-Door Utility

6

$1,644

XT5 Premium Luxury

2WD 4-Door Utility

6

$1,665

XT5 Luxury

4WD 4-Door Utility

4

$1,668

XT5 Sport

2WD 4-Door Utility

6

$1,689

XT5 Premium Luxury

4WD 4-Door Utility

4

$1,707

XT5 Luxury

4WD 4-Door Utility

4

$1,731

XT5 Sport

4WD 4-Door Utility

6

$1,735

XT5 Premium Luxury

4WD 4-Door Utility

6

$1,754

XT5 Platinum Luxury

2WD 4-Door Utility

4

$1,810

XT5 Platinum

4WD 4-Door Utility

6

$1,817

XT5 Platinum Sport

4WD 4-Door Utility

6

$1,824

Source: Insure.com

 

*Data from Mercury Insurance