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.
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.
Find out what does full coverage car insurance cover in this article.
Here are the 10 least expensive luxury cars to insure:
|
Model |
Style |
Cylinders |
National average rate |
|---|---|---|---|
|
A220 4MATIC |
4-Door Sedan Turbo AWD |
4 |
$1,786 |
Source: Insure.com
|
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
|
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
|
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
|
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 |
|
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
|
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
|
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
|
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
|
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:
|
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
|
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
|
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
|
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
|
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
|
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
|
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
|
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
|
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
|
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
