Dodge Chargers are not the most expensive car to insure, but by comparison, they will likely cost you more than the national average for a Toyota Camry. When car insurance companies price policies, your vehicle’s make and model can influence rates significantly. A powerful car like a Dodge Charger generally has a higher price tag than a standard economy car, like the Toyota Camry, and can easily carry higher car insurance premiums accordingly.
The average cost of full coverage car insurance for Dodge Charger is $2,077 per year, based on Bankrate’s review of quoted average premiums from Quadrant Information Services. Whether you are purchasing a new car or shopping for insurance for your current Dodge Charger, experts recommend you get more than one quote from insurers. This way, you will be able to compare multiple insurance companies rates and coverage offerings to find a policy that best suits your needs.
How much is insurance for a Dodge Charger?
The cost of insurance for a Dodge Charger will depend largely on the year, model and trim option you choose. Below are the national average annual rates for minimum liability coverage and full coverage. If the Charger is newer and still has market value, or if you have a loan or lease on the car, you may be recommended the better financial protection that full coverage auto insurance provides.
|Average annual minimum liability premium||Average annual full coverage premium|
Each insurance company sets its own rates, so car insurance costs and coverage options can vary widely by insurer. The table below shows how rates for different car insurance companies may compare for a sample driver with a 2019 Dodge Charger that drives 12,000 miles annually.
|Provider||Average annual minimum liability coverage premium||Average annual full coverage premium|
How much does having a Dodge Charger influence your car insurance rate?
The average cost of full coverage car insurance on a national level is $1,674 annually, but to insure a Dodge Charger, the average rate increases to $2,077. Insurance costs will vary based on several factors such as ZIP code, driving record and, importantly, the model year, trim package and value of the car.
For example, the market value of the 2020 Dodge Charger SXT is $29,995, but the 2020 Dodge Charger SRT Hellcat Widebody MSRP is $72,095. The bigger engine, greater horsepower and cost to repair are all higher on the Hellcat, which will increase car insurance rates compared to the SXT.
What factors influence your car insurance other than your car?
The make and model of your vehicle isn’t the only factor that helps determine the cost of your auto insurance. Although exact rating processes vary depending on your state and insurer, the following factors are often used to determine your car insurance premiums.
- Age (in most states)
- Credit score (in most states)
- Coverage limits
- Discount eligibility
- Gender (in most states)
- Household driving record
- Annual mileage
- ZIP code
- Marital status
- Other vehicles in the household
Since car insurance underwriters use several factors to determine your premiums, your actual rates may be higher or lower than the average insurance cost for a Dodge Charger.
How can you save money on Dodge Charger car insurance?
Though insurance can be expensive on a Dodge Charger, you may be able to lower your premium. The following tips may be able to help you save money on your car insurance:
- Bundle and stack discounts: Often, the most significant discounts offered by insurance companies are the multi-policy and multi-car discounts. Bundling your home and auto insurance with the same company could equal big savings. Adding some of the best car insurance discounts — such as deals for maintaining a clean driving record or for being a member of a certain professional group — may also help you save.
- Consider liability only: If you have an older car, you might be able to drop full coverage and get savings with liability only. The Insurance Information Institute recommends considering this option if your car’s value is less than 10 times the cost of insurance.
- Increase your deductible: If you have comprehensive and collision coverage, increasing the deductible can save you on premium each month. However, before you increase your deductible, it may be wise to make sure you can afford to pay the deductible if you need to use the coverage.
- Pay attention to mileage: If you drive fewer than a certain number of miles determined by your insurance provider, you might be able to get a reduced rate.
- Shop before you buy: Before you commit to a car, you may want to get car insurance quotes from different carriers with the same coverage types and levels to compare for the best rate. Analyzing your insurance quotes can also help you decide if you can afford to buy the car.
Frequently asked questions
Why do some cars cost more to insure than others?
Insurance companies typically associate vehicle make and model with a level of risk. If a car is more likely to be stolen, will cost more to repair when involved in an accident or does not have many safety features, it may cost more to insure than other vehicles that are less likely to present significant risk.
Is a Dodge Charger a sports car on insurance?
Each insurance company has a different definition of a sports car. Factors that may be used to determine if your car is a sports car include if it is a two-door or four-door, the engine size, if it is turbo charged and the height and weight. Your insurance company can help provide guidance on the exact specifications regarding sports cars and your Dodge Charger insurance.
Are Dodge Chargers expensive to maintain?
The costs of maintaining your Dodge Charger can vary by factors such as your location, how you drive and how many miles you drive each year. Depreciation, gas prices, repairs, maintenance, taxes and fees can all be different for each person.
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our sample drivers own a 2019 Dodge Charger, commute five days a week and drive 12,000 miles annually.
These are sample rates and should be used for comparative purposes only. Your quotes may be different.