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
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