The Most Expensive Cars to Insure in the Philippines

by Moneymax, on category "Car Insurance"

August 26, 2019


Most Expensive Cars to Insure | Moneymax

Not all cars are the same. Some cars cost more to insure than others. With all the BMWs and Mercedes zipping around BGC or Makati, you might be wondering: which are the most expensive cars to insure in the Philippines?

Planning to buy a luxury car or even dream of owning one like those of high-profile Pinoy celebrities? You should also consider the cost of car insurance aside from the actual unit’s selling price. Be ready to pay higher insurance premiums to protect your precious investment.

20 Most Expensive Cars to Insure in the Philippines

Most Expensive Cars to Insure in the Philippines

Here are the cars with the highest car insurance premiums in the Philippines in 2019. One of these models may just be the car of your dreams.

1. Mercedes-Benz SL63

Annual Car Insurance Premium: PHP 405,548 (2019 Mercedes-Benz SL63 AMG 5.5L Gas A/T)

This two-seater hardtop roadster packs 577 horsepower under its hood (thanks to the twin-turbo V8 engine), enabling you to go from zero to 96.56 kph in a few seconds. It’s also among the most expensive cars to insure, with annual premiums hitting the PHP 400,000 mark.

2. Mercedes-Benz S650

Annual Car Insurance Premium: PHP 400,867 (2019 Mercedes-Benz S650 Maybach 4L Gas A/T)

The premium model in the Mercedes-Benz S-Class line, the S650 luxury sedan is equipped with a powerful twin-turbo V12 engine that generates 621 horsepower. Its interior screams luxury as well, with a high-resolution multimedia display and heated 12-way automatic massaging seats.

Coupled with a steep price tag, it’s no wonder another Mercedes makes it to the list of most expensive cars to insure in the Philippines.

3. Mercedes-Benz GT

Annual Car Insurance Premium: PHP 315,619 (2019 Mercedes-Benz GT AMG 4L Gas A/T)

Powerful performance meets smooth handling in the Mercedes-AMG GT, the German automaker’s sports car in coupe body style. Its four-liter AMG V8 twin-turbo engine churns 577 horsepower. The AMG Ride Control sports suspension and active rear-wheel steering make this luxury car a joy to drive.

4. BMW 7 Series 750Li

Annual Car Insurance Premium: PHP 274,880 (2019 BMW 750Li 4.5L Gas A/T)

The 7 Series is BMW’s line of luxury sedans, with the 750Li as one of the standouts. The five-seater sedan’s interior is a definition of elegance because of its soft leather and massage seats. Performance-wise, it generates 530 horsepower at 750 Nm of torque under the hood.

5. BMW 7 Series 740Li

Annual Car Insurance Premium: PHP 263,697 (2019 BMW 740Li Pure Excellence 3L Gas A/T)

Another remarkable sedan in the BMW 7 Series lineup is the 740Li, which is just as expensive to insure as the 750Li. The BMW 740Li may not be as powerful as its brother, but it can register speeds as high as 250 kph. Aside from being fast, it’s also a safe car to drive, with its array of safety features such as multiple airbags, immobilizer, security alarm, stability control, and ISOFIX for securing a child car seat.

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6. Mercedes-Benz SL500

Annual Car Insurance Premium: PHP 261,602 (2019 Mercedes-Benz SL500 AMG Sport 4.6L Gas A/T)

This sports car, yet another expensive Mercedes car to insure, is powered by a 4.6-liter twin-turbo V8 engine that produces 449 horsepower.

7. BMW M5

Annual Car Insurance Premium: PHP 241,685 (2019 BMW M5 V8 4.4L Gas A/T)

The BMW M5 luxury sedan features a rear-wheel-drive capability and a 4.4-liter BMW M TwinPower Turbo V8 engine that generates 600 horsepower. It’s also loaded with innovative technology, like the automatic stop-start system that helps reduce CO2 emissions and improve fuel economy.

8. BMW M6

Annual Car Insurance Premium: PHP 240,152 (2019 BMW M6 5L Gas A/T)

The aerodynamic BMW M6 four-seater is perhaps in the bucket list of every luxury car aficionado. If you dream of driving this sports convertible, expect to shell out around PHP 200,000 per year for the car insurance premium.

9. Jaguar XJ

Annual Car Insurance Premium: PHP 201,347 (2019 Jaguar XJ Premium Luxury 3L Diesel A/T)

The Jaguar XJ is an embodiment of an ideal luxury sports sedan with its combination of visual appeal, elegance, and power. It boasts a supercharged V6 engine with a Stop/Start feature for better fuel efficiency and lower emissions.

10. Nissan GT-R

Annual Car Insurance Premium: PHP 185,385 (2019 Nissan GT-R Premium 3.8L Gas A/T)

Nissan may seem the odd guy out in the list dominated by BMWs and Mercedes, but it does have a model with a high insurance premium. Car insurance for the GT-R costs more than PHP 100,000, making it the most expensive Nissan to insure.

This is hardly surprising, as the GT-R comes with a powerful twin-turbocharged V6 engine that produces 565 horsepower, a luxurious cabin, and an array of advanced tech features.

11. Land Rover Range Rover Sport

Annual Car Insurance Premium: PHP 174,705 (2019 Land Rover Range Rover Sport HSE 3L Gas A/T)

Land Rovers are among the most expensive cars to insure in the Philippines. Leading the pack is the Range Rover Sport, a luxury mid-size SUV with a sporty exterior, ultra-comfy interior, and superb engine performance.

12. Lexus RC

Annual Car Insurance Premium: PHP 150,968 (2019 Lexus RC F Carbon 5L Gas A/T)

Lexus is Toyota’s luxury car division, and its model that costs the highest to insure is the RC F coupe. The four-seater luxury vehicle is equipped with a five-liter V8 engine and tech innovations like Apple CarPlay integration and Amazon Alexa compatibility.

13. Mercedes-Benz E200

Annual Car Insurance Premium: PHP 124,033 (2019 Mercedes-Benz E200 AMG Line 2L Gas A/T)

Stylish yet still sporty, the E200 features a two-liter turbocharged engine and a nine-speed automatic transmission that makes this Mercedes midsize sedan fuel efficient.

14. Land Rover Range Rover Velar

Annual Car Insurance Premium: PHP 123,266 (2019 Land Rover Range Rover Velar S 2L Gas A/T)

Another Range Rover in this list of the most expensive cars to insure in the Philippines is the Velar, a compact luxury crossover SUV. It’s one of the newest models in the Land Rover lineup.

15. Jaguar F-PACE

Annual Car Insurance Premium: PHP 108,863 (2019 Jaguar F-PACE Prestige 2L Diesel A/T)

The F‑PACE is a five-seater luxury performance SUV with an all-wheel drive capability. It’s Jaguar’s first model in the crossover SUV category. It’s loaded with cutting-edge tech features for the occupants’ safety, connectivity, and entertainment while on the road.

Most Expensive Cars to Insure in the Philippines - Jaguar F-PACE

16. Land Rover Range Rover Evoque

Annual Car Insurance Premium: PHP 104,748 (2019 Land Rover Range Rover Evoque HSE 2L Gas A/T)

The Range Rover Evoque is a stunning compact SUV that can handle both on-road and off-road terrains. It earned a five-star Euro NCAP safety rating for its advanced safety features (front and rear parking aids, emergency braking, etc.) that help avoid accidents.

17. Chevrolet Camaro

Annual Car Insurance Premium: PHP 103,171 (2019 Chevrolet Camaro 2SS V8 6.2L Gas A/T)

The sporty, midsize Camaro is Chevy’s most expensive car to insure. The 2SS variant takes the Camaro’s athletic factor a notch higher with its head-up display, standard heated and ventilated leather-appointed front seats, and more.

18. Ford Mustang

Annual Car Insurance Premium: PHP 94,853 (2019 Ford Mustang GT Premium V8 5L Gas A/T)

The Ford Mustang is probably every sports car fan’s dream car. The four-seater coupe combines style and powerful performance. If you’re saving up for a Mustang purchase, be prepared also to pay nearly PHP 100,000 per year to keep it insured. It remains as one of the most expensive cars to insure in the Philippines.

19. Jaguar XE

Annual Car Insurance Premium: PHP 94,105 (2019 Jaguar XE Prestige 2L Diesel A/T)

This five-seater compact executive car is every inch a Jaguar—from its muscular yet stylish exterior to state-of-the-art technology. And because it’s a Jaguar, it’s naturally expensive to insure.

20. Land Rover Discovery

Annual Car Insurance Premium: PHP 92,403 (2019 Land Rover Discovery Sport SE 2L Gas A/T)

Completing the elite circle of luxury cars with the most expensive insurance rates is the Discovery, Land Rover’s midsize luxury SUV. Packed with advanced technologies and all-terrain capabilities, it may have everything you want in an SUV.

What Makes Car Insurance Expensive?

Most Expensive Cars to Insure in the Philippines

Many things affect how much you pay for your car insurance. Some of them you can control, but others you won’t be able to. Knowing what can drive your insurance rates up or down can help you pick the best insurance plan for your vehicle.

Personal Factors

Who you are in terms of demographics can affect your insurance rate greatly, especially your credit score. Some statistics based on demographics are also used by some, if not most, banks and lending agencies.

  • Driving record
  • Claim history

Vehicle Factors

Of course, the kind of car you’re insuring also influences your overall insurance rate. Is the car old and has parts that are hard to find or source? Or is it a relatively new car with cheap and easy-to-find parts? These are factors that are considered.

  • Vehicle age
  • Size
  • Fair market value
  • Vehicle make and model
  • Vehicle type (sedan, SUV, AUV, etc.)
  • Car safety rating

Final Thoughts

All other factors being equal, some models—particularly Mercedes Benz, BMW, Jaguar, and Land Rover—innately cost higher to insure than others mainly because of their expensive repair costs. Luxury cars have parts that are hard to find and may need to be sourced overseas.

Even if you increase your deductible, keep a good driving record, and do other things to lower your car insurance cost, you’ll still pay high premiums to protect your expensive investment.

However, insuring a luxury vehicle (no matter how expensive it is) will cost you less than having no insurance and paying hefty repair bills on your own after an accident. Even if a vehicle is inherently expensive to insure, you can still save thousands of pesos on annual premiums by comparing car insurance quotes at Moneymax.

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