February, March, and April are tax refund months for many people in the U.S. Often they choose to use their refund on a new car and start shopping for great car insurance deals too. If this sounds like you, here is one car to avoid if you want to get a low rate and affordable car insurance coverage.
Most of us would be thrilled to drive any of the cars that cost the most to insure. However, it isn’t hard to understand why its difficult to cut great insurance deals on these cars. Honestly, how many people that can afford a Nissan GT-R with a starting price of over $76,800 are going to settle for cruising quietly around the neighborhood or town square? Come on, you’re going to mash the pedal to the medal!
Nissan refers to the GT-R as a “multi-performance supercar.” This car is not built for modest trips to the grocery store. When it was tested on a racetrack in Germany it eclipsed the fastest lap time ever for a street car. Who could deny the thrill you would get speeding this 3.8-liter, twin-turbocharged, 24-valve V6 with 485 horsepower car around the Nurburgring Circuit?
Ok, so let’s settle back down to earth. Not too many of us drive the race circuit. The insurance industry figured out that many of us would be easily tempted to blast this Nissan GT-R down the highway for a few seconds of thrill above 200 mph. Or maybe even attempt high speed passing on the Beltway.
That is exactly why it is impossible to get decent car insurance deals on the GT-R. This is a sports car and sports cars are the most costly to insure. The GT-R ranks at the top of the list of super car insurance rates.
The GT-R is in its first model year so your comprehensive insurance rate is based mostly on the manufacturer’s retail price. In subsequent years, the base automobile insurance rate is adjusted up or down relative to the level and number of claims made for automobile accidents involving the Nissan GT-R. Therefore, even though your comprehensive starter rate for this car is high, it may actually go higher in then next year even if you haven’t had an accident with your own GT-R.
Your rates will start to level out only after about 5 years of claims on the car. It takes that long, because this car is not affordable to every American Joe (or Josephine). Not that many are sold so it takes longer to build up accident statistics.