The anticipated risk, or how likely the insurer believes you are to make a claim and how much it will cost them if you do, is the biggest variable that influences the cost of an insurance premium. The highest premiums will be charged to drivers who are assessed to be both at high risk of filing a small claim and at high risk of filing a large claim. This is why budget automobiles are typically less expensive and performance and luxury cars almost always cost more to insure.
This rule isn’t absolute, though, as some less expensive automobile models may draw more drivers who the insurance business regards to be hazardous, which will cause costs to rise as a result. The easiest approach to determine whether a particular car type is considered hazardous is to first obtain insurance quotes from a comparison website when looking to purchase a new or used car. If the premiums are more than you anticipated, it’s possible that insurers just have higher claim rates for that particular automobile type, so if you’re trying to save money, it’s probably better to steer clear of it.
Given that Lexus is known for building trustworthy automobiles for cautious drivers, it may come as a surprise that the NX 300h hybrid crossover is among the most expensive to insure. The main selling points of Reviews of the car are its excellent fuel efficiency, roomy back seats, and an insulated cabin that is quiet at highway speeds, none of which would fit the typical stereotype of a “dangerous” driver. For drivers who desired a more sporty, athletic feel from their crossover, Lexus released the new F Sport grade for the 2021 model year. However, the package simply included updated suspension and some more exterior trim, and it did not come with any additional power.
It is obvious that the NX’s high insurance costs have nothing to do with how well it performs. The car is generally purchased by older drivers, according to a different theory, and this is what drives up its rates so much. After Cadillac and Buick, A 2018 study revealed that Lexus has the third-highest average buyer age of any automaker in America. According to to the CDC , older drivers are also more likely than middle-aged drivers to suffer life-threatening injuries or pass away in collisions. Although the NX may be a generally safe vehicle, its popularity among older, more vulnerable drivers may be driving up average premiums since a higher injury rate typically results in a larger reimbursement from the insurance.
The NX crossover is the first of three Lexus models to be featured here, and the RX 350 is the second. one of the oldest typical buyer ages in America may require larger insurance payouts should they be hurt in a collision, resulting in higher prices for Lexus drivers. The two auto brands with higher average ages, Cadillac and Buick, don’t appear anywhere on the list of most expensive vehicles to insure, so this isn’t a flawless idea. Lexus drivers may cost insurers more than drivers of competing models for reasons that are unclear to us.
Similar to the NX, the 2022 RX is also offered with premium upgrades that give it a sportier style without increasing power. The Black Line package is a very well-liked option, and Lexus will increase the RX 350 Black Line’s production numbers to 2,500 units in 2022 from just 750 units in 2021. According to MotorTrend, the new 2023 model year RX 350 has a slower 0-60 mph time than the outgoing model and has greater torque but less horsepower. If the RX 350’s performance declines results in lower insurance costs, that has to be seen.
The base-spec Standard Plus Model 3 costs $300 more to insure on average than the next-most costly car on the list, making it one of Tesla’s most cheap models and one of the most expensive to own. Since its release, the vehicle has become incredibly popular with drivers, selling 121,000 units in 2021. It achieved an excellent “Top Safety Pick Plus” grade of from the IIHS in 2022, with top marks in practically every area.
Although the vehicle’s occupants are normally quite safe should an accident occur, Tesla’s extensive suite of driver-assistance technologies, which are meant to prevent accidents from occurring in the first place, contributes to the vehicle’s excellent safety rating. Unfortunately, current data indicates that there is no evidence that autonomous systems genuinely improve traffic safety, as the benefits of employing computer-assisted avoidance software are frequently countered by the driver’s tendency to pay less attention to the road. Tesla’s suite of autonomous technology appears to have a particularly detrimental impact on drivers, as evidenced by the fact that 70% of crashes involving driver assistance involved a Tesla in biggest variable 0 data from 2021–22. The fact that there are more Teslas on the road than any other kind of semi-autonomous car should be noted, and biggest variable 1 advises against taking firm conclusions from the data just yet.
The ES 300H, a plug-in hybrid variant of Lexus’ mid-range luxury vehicle, is the third and last Lexus on the list. The interior of the 2022 model has been updated, and the greatest interior change is a new touchscreen display that is placed closer to the driver for simpler use. The car’s pre-collision system has also been modified. A new, improved camera and a new radar system have been added, and they increase the response time of the emergency braking and pedestrian response functions.
The top-spec biggest variable 2 adds athletic style and an enhanced suspension, similar to the brand’s previous “sporty” trims, although it has no more power. It has a CVT, similar to the Nissan Altima’s, but happily the Lexus doesn’t draw drivers of the same caliber, so there isn’t any foot-to-the-floor acceleration in this vehicle. It’s out of reach for most drivers with low credit scores because the biggest variable 3 is $43,690 plus fees, but oddly, insurance is more expensive than it would be for a base-spec Nissan Altima.