Meanwhile, the most expensive vehicle to insure side of the list is chock full of pricey and very high-powered cars. Once again, Mercedes is the big winner when it comes to the most costly vehicles to insure, with a total of seven models on our top 20 list. However, it was the Nissan GT-R that came out on top with a $ $3,941 annual insurance bill – and up $772 from 2014 when it also ranked at the top of the most expensive list.
One of the big perks of insuring your home through Metlife is that they offer guaranteed replacement cost coverage – meaning if your home or stuff is damaged or destroyed by a covered peril, your home’s rebuild costs and property will receive the full replacement cost, depreciation notwithstanding. That means if your home is only worth $250,000 but it costs $500,000 to replace, Metlife will pay the full $500,000 to replace your home.
The reason car insurance is so cheap in Wisconsin is a bit of a mystery. While not a huge magnet for severe weather it does receive its fair share of snow in the winter and tornadoes in the summer. Flooding is not uncommon and rising rivers point to spring flooding this year. Flood damage is covered by comprehensive coverage, which is not required in most states, if you want your vehicle to be fully covered, you will need to carry this optional coverage.
All of these vehicles are a bargain to insure but insurance prices have definitely gone up from last year. Our cheapest option, the Odyssey, costs $1,298 to insure compared to the last year’s top choice, the Jeep Wrangler, which ran $1,169. This is an 11 percent increase. The Jeep Wrangler saw a significant rate increase, going from $1,169 to $1,304, a jump of $135 or 11.5 percent.
A lot goes into an auto insurance rate quote, including your ZIP code, coverage levels, marital status, annual mileage, driving history and vehicle make, year and model. In most states, your gender and credit history are also used to determine rates. And again, the reason auto insurance comparison shopping is so important is because rates between companies are different for each person, too.
Progressive has a slew of available discounts — sharing the top spot for most discounts with Farmers. There’s even one for adding a newly-licensed teen driver to your existing auto policy (surprising given that teenage drivers are among the riskiest to insure). But a policy loaded with discounts isn’t necessarily cheaper than a non-discounted policy, and the Texas Department of Insurance’s data on premiums show that Progressive is, on average, the most expensive for young drivers among the top five in Texas.
State legislators set limits on how much a company can increase your rates after a crash. Our hypothetical accident resulted in only $2,000 worth of damage. That caused average annual rates to spike by $1,000 or more in some states, while others jumped by far less. One thing’s for sure: Your rates will definitely increase after an at-fault accident, so be sure to compare car insurance rates if you have one on record.
While JD Power-recommended companies above aren’t among the cheapest of the insurance companies we’ve examined, they might suit your needs. It’s important to think beyond price to find a comfortable middle ground between claims satisfaction and affordability. Use The Zebra’s side-by-side insurance comparisons to avoid some of the legwork involved in insurance shopping.
Collision insurance is a coverage that helps pay to repair or replace your car if it's damaged in an accident with another vehicle or object, such as a fence or a tree. If you're leasing or financing your car, collision coverage is typically required by the lender. If your car is paid off, collision is an optional coverage on your car insurance policy.