Most Expensive Car Insurance

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On average, the Hanover Insurance Group offers the most expensive car insurance and Michigan is the country’s most expensive state for auto insurance. 

 When shopping for auto coverage, most people look for the cheapest car insurance rates available. Understanding the wide range of car insurance costs can help you determine which providers and coverage options are right for you. 

That’s why our team at MarketWatch Guides will be exploring the states, cars, and companies with the highest car insurance rates. Additionally, we’ll recommend two of the best car insurance companies in the industry. Remember to gather quotes from multiple providers to find the most affordable rates. 

  Most Expensive Car Insurance: Providers, States, and Cars 

 We've analyzed cost data from Quadrant Information Services to identify the average rates of car insurance providers. In the sections below, we'll delve into the most expensive providers for both liability and full-coverage insurance, the states with the highest auto insurance rates, and the cars that are the most expensive to insure. Please note that the average rates provided below are based on the driving profile of a married 35-year-old with a clean driving record and good credit.

Based on our data analysis, Key Insurance Co. and The Hanover Insurance Group typically offer the most expensive liability car insurance on average. Key Insurance Co. charges an average of $272 per month or $3,261 per year, while The Hanover Insurance Group's liability coverage costs an average of $183 per month or $2,196 per year.

Despite reaching out to Key Insurance Co. and The Hanover Insurance Group for comment on the average cost of their insurance coverage, our review team did not receive responses.

The national average for liability coverage is $52 per month or $627 per year.

Insurance Provider
Average Monthly Cost
Average Annual Cost
Key Insurance Co.$272$3,261
The Hanover Ins Grp$183$2,196
United Automobile Insurance Co.$176$2,109
Sentry Insurance$120$1,439
Amica$103$1,234
American International Group$97$1,162
Farmers Insurane$96$1,153
Mercury General$96$1,153
CSAA$96$1,149
Selective Insurance$94$1,130
Chub$88$1,059

10 Most Expensive Full-Coverage Car Insurance Providers According to our estimates, The Hanover Insurance Group and American International offer the most expensive full coverage on average. 

The average cost of full coverage from The Hanover Insurance Group is $609 per month or $7,302 per year, while American International’s full-coverage policies average $322 per month or $3,862 per year. Both companies tend to be quite a bit more expensive than the national average for full coverage, which is $167 per month or $2,008 per year.

Insurance ProviderAverage Monthly CostAverage Annual Cost
The Hanover Insurance Group$609$7,302
American International$322$3,862
United Automobile Insurance Co.$320$3,835
CSAA$309$3,709
Home State Insurance Group$307$3,687
Safe Auto Insurance$298$3,576
Key Insurance Co.$295$3,534
Encova Mutual$277$3,322
Sentry Insurance$265$3,184
Alfa Insurance
$265$3,179

Most Expensive Insurance by State

In researching the states with the most expensive car insurance, we determined that Michigan and Connecticut topped the list for both liability and full-coverage insurance.

10 Most Expensive States for Liability Insurance

In Florida, liability insurance costs an average $115 per month or $1,385 per year. In Michigan, a liability insurance policy costs an average of $113 per month or $1,360 per year.

StateAverage Monthly CostAverage Annual Cost
Florida$115$1,385
Michigan$113$1,360
New Jersey$111$1,332
Nevada$107$1,283
Delaware$99$1,194
Rhode Island$86$1,036
Connecticut$82$980
Oregon$79$953
Louisiana$77$925
Maryland$75$901

10 Most Expensive States for Full-Coverage Insurance

Michigan and Florida are also the most expensive states for full-coverage insurance on average. In Michigan, a full-coverage policy costs an average of $304 per month or $3,643 per year, while full-coverage insurance in Florida averages $270 per month or $3,244 per year.

StateAverage Monthly CostAverage Annual Cost
Michigan$304$3,643
Florida$270$3,244
Louisiana$253$3,040
Delaware$240$2,881
Nevada$232$2,788
Kentucky$210$2,522
New Jersey$209$2,513
Massachusetts$202$2,430
Rhode Island$196$2,357
California$193$2,313

Most Expensive Cars To Insure by Make and Model

Sports cars and high-end luxury vehicles are generally more expensive to insure. These cars have much higher repair costs, so insurance companies see them as higher risks.

10 Most Expensive Cars To Insure by Model

Our research on average insurance rates for 60 popular models found that the Dodge Chargertended to be the most expensive 2022 model to insure. The average cost for a full-coverage insurance policy on a Dodge Charger is $354 per month or $4,242 per year.

Our review team reached out to Dodge and Tesla for comment on the average costs to insure their vehicles but did not receive responses.

VehicleAverage Monthly CostAverage Annual Cost
Dodge Charger$354$4,242
Tesla Model 3$267$3,209
Tesla Model Y$234$2,804
BMW X3$195$2,337
Lexus RX$189$2,273
Nissan Altima$189$2,263
GMC Sierra$188$2,261
Chevrolet Silverado$183$2,200
Ford Expedition$182$2,181
Hyundai Sonata$182$2,17

Our analysis showed that, on average, Dodge and Tesla have the most expensive car insurance among 17 popular brands. Full coverage on Dodge vehicles costs an average of $354 per month or $4,242 per year, while full coverage on a Tesla vehicle averages to $251 per month or $3,007 per year.

ModelAverage Monthly CostAverage Annual Cost
Dodge$354$4,242
Tesla$251$3,007
BMW$195$2,337
Lexus$189$2,273
GMC$184$2,207
Ram$175$2,101
Nissan$167$2,004
Hyundai$164$1,973
Kia$164$1,968
Toyota$164$1,964
Ford$162$1,949
Chevrolet$162$1,940
Honda$156$1,869
Jeep$153$1,833
Subaru$146$1,752
Volkswagen$142$1,707
Mazda$138$1,658

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