You should do a cost-benefit analysis before you buy and ask yourself whether it is really worth it. Shelling out large sums of money every month might take some of the luster out of that dream car. It’s up to you to figure that out.
New York, NY (PRWEB) September 04, 2012
4insure.us has just released a study that shows that the Mitsubishi Lancer Evolution costs the most of any vehicle to insure.
The company, which is located in New York, NY, cooperates with the biggest leaders in the auto insurance industry to bring its clients the best and most reasonable coverage for the lowest premiums and deductibles. Its website, http://www.4insure.us/, also features a wide variety of educational articles pertaining to auto insurance.
The website was recently updated to include the list of the Top 10 most expensive vehicles to insure. The study also looked at the reasons why each car merits such expensive rates.
According to 4insure.us CEO James Shaffer, the reason the Mitsubishi Lancer Evolution is so pricey to insure is because it possesses two qualities that raise immediate red flags with insurance agencies: it is fast, and it is small.
“Drivers of this car find themselves in the most number of accidents,” Shaffer noted, adding that despite the low cost of the Lancer Evolution in relation to other cars, it still tops the insurance premium cost list.
“This is because of its phenomenally high speed and its quick acceleration which a lot of drivers might not be used to and some misuse these features. These are the reasons for its being so accident-prone and thus, the most expensive car to insure. I would steer clear of it!”
Coming in second place is the Mercedes CL, which the study noted is fast as well as expensive. Next on the list is the Dodge SRT-4, which Shaffer said is a very flashy car that is extremely likely to be vandalized. Like the Mercedes CL, the SRT-4 is also fast and expensive, which adds to the high costs of its premiums.
Other vehicles that made the Top 10 list include the Lexus IS300, the Honda S200, and the Acura RSX, which Shaffer noted is a very small vehicle and thus likely to suffer extreme damage during an accident. Even though the car itself is not that expensive to purchase, the likelihood of it sustaining a lot of dings and dents means its premiums will be much higher.
Shaffer understands that a lot of his clients dream about owning a beautiful, high-performing car. But along with these desires, he urges that people utilize caution and common sense.
“If you are budgeting for a fancy car, please also budget for the auto insurance policy,” he said.
“You should do a cost-benefit analysis before you buy and ask yourself whether it is really worth it. Shelling out large sums of money every month might take some of the luster out of that dream car. It’s up to you to figure that out.”
4insure.us is an auto insurance company located in New York, NY offering auto insurance quotes and related auto insurance information. It is a standalone company aiming to become a one stop destination for all things related to auto insurance. For more information, please visit http://www.4insure.us