I want to buy a luxury car, but I'm worried that the insurance on top of the monthly payments might end up being a little too expensive for me. How much does luxury car insurance cost?
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question! Luxury car insurance is usually more expensive than other types of car insurance, although the actual price tag will vary depending on what kind of car you buy.
than others. The average full coverage car insurance in the U.S. is $1,674 per year. For luxury cars, however, you’ll likely be looking at over $2,000 per year. A Cadillac Escalade costs, on average, $2,188 per year to insure, and a Mercedes-Benz AMG C-43 will cost you around $2,036 per year.
If you’re worried that the price of insurance might jeopardize your chances of getting your dream car, check out the
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