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Price of Luxury: Insurance for Expensive Cars in the Philippines

Jay Pagkatotohan

Jay Pagkatotohan

Last updated February 24, 2023

The appeal of luxury cars will always be irresistible. The shiny and sleek exteriors can make everyone on the street turn their heads. The roar of the engine is distinct; you can quickly tell that it’s an upscale auto even without looking at it.

All these prized qualities need protection, though. Moreover, you also have to remember that luxury cars are not exempt from the uncertainties and harsh rules of the road. As such, you need to get car insurance.

Since you’re a luxury car owner, you know too well that each unit requires higher premiums. Whether it’s your first time getting a policy or you’re planning to get a new one, you need to study your options before inking any deal. This article lists the insurance cost of expensive cars in the Philippines.

Insurance Cost of Expensive Cars in the Philippines

What is the most expensive car in the Philippines, and how much does it cost to insure it in 2023? Read on and find out.  

Mercedes-Benz SL-Class 350

insurance cost of expensive cars in the philippines - Mercedes-Benz SL-Class 350

Annual car insurance premium: ₱138,115 to ₱195,804 (2022 3.5L Gas A/T RWD Cabriolet 2-Seater)

With a whopping price of ₱6.7 million, it’s no wonder that this luxurious roadster’s annual insurance premium almost hits the ₱200,000 mark, making it the most expensive in this list.

This two-seater car is your perfect open-air ride, whether in the city or the country. It’s more powerful than it looks, as its engine can churn out 302 hp of power. It also has a top speed of 250 kph, so if you want a fast ride, this car is for you.

Audi Q7 Quattro

Annual car insurance premium: ₱138,352 to ₱179,423 (2022 Quattro 3L Diesel A/T)

The beauty of the Audi Q7 lies in its seemingly paradoxical nature. Its boxy exteriors look sleek or streamlined. Its tough external persona is softened by the interiors’ ultimate comfort.

The vehicle’s power output of 272 hp and 600 Nm of torque assures a steady ride. The interiors, on the other hand, are adorned with advanced features, from automatic climate control to the power door locks and the MMI Informant System.[2]

Land Rover Range Rover Sport

insurance cost of expensive cars in the philippines - Land Rover Range Rover Sport

Annual car insurance premium: ₱176,997 (2022 Sport HSE 3L Diesel A/T AWD SUV 5-Seater)

Land Rovers are among the most expensive cars to insure in the Philippines. Leading the pack is the Range Rover Sport, a luxury midsize SUV with a sporty exterior, ultra-comfy interior, and superb engine performance. Its annual premium is ₱176,997, meaning you’ll have to shell out ₱14,780 monthly.

Jaguar F-Type

Annual car insurance premium: ₱123,956 to ₱175,641 (2022 F-Type Coupe 2L Gas A/T)

The  Jaguar F-Type roars with lavishness primarily because of its ₱6.19 million price tag and identifiable body. But what makes this convertible-slash-sports car truly luxurious is its set of premium features, from its automatic climate control system to its engine that lends the car 296 hp of power. Even driving it feels luxurious, as its steering wheel is outfitted with leather.

This car makes it to this list of the most expensive cars in the Philippines, fetching a luxury car insurance cost that starts at ₱123,956 per year.

Nissan GT-R

insurance cost of expensive cars in the philippines - Nissan GT-R

Annual car insurance premium: ₱175,563 (2022 GT-R Premium 3.8L Gas A/T Coupe 4-Seater)

Nissan may seem like the odd guy out in a list dominated by BMWs and Mercedes, but it does have a model with a high insurance premium. The Nissan GT-R insurance cost is more than ₱170,000, probably making it the highest Nissan maintenance cost in the Philippines.

This is hardly surprising, as the GT-R has a powerful twin-turbocharged V6 engine that produces 562 horsepower, a luxurious cabin, and an array of advanced tech features.

BMW X7 xDrive30d

Annual car insurance premium: ₱171,102 (2022 X7 xDrive30d Pure Excellence 3L Diesel A/T)

If you’re into big luxury cars, the BMW X7 is worth checking out. While the exteriors are purely muscular, the interiors are designed with luxurious comfort. The car’s air conditioning system can also be personalized, thanks to its five-zone climate control system.

This SUV is fashioned with a Harman Kardon audio system, which makes listening to music truly a joyful experience. And for the ultimate comfort, the upholstery is made with premium leather. As for the engine, the maximum output is 265 hp, while the maximum torque is 629 Nm.

All these and more will be yours at a price tag of ₱9.2 million.

Audi A8 L

Annual car insurance premium: ₱120,674 to ₱170,967 (2022 A8 L Quattro 3L Diesel A/T)

Audi proves that luxury, comfort, and innovation can come together. The German carmaker shows this through its flagship sedan―the Audi A8 L. The unit is designed with a three-liter turbocharged gasoline engine, generating 258 hp of power output and 580 Nm of torque.

Just like its brothers, the interiors of the Audi A8 L scream luxury. It’s upholstered with leather, and its central console is equipped with tech particulars, from wireless Bluetooth to 4G LTE WiFi.

BMW 7 Series 730i

Annual car insurance premium: ₱120,018 to ₱170,033 (2022 7 Series 730i Pure Excellence 2L Gas A/T)

Whoever says that sedans can’t be sporty probably hasn’t seen a BMW 7 Series unit. Its sportiness is coupled with understated luxuriousness, making it a car that’s impossible to ignore.

Inside, you’ll be treated to an innovative freestanding infotainment system with an advanced version of the iDrive tech.

Passengers at the back are also empowered to adjust some vehicle functions, as the rear section is outfitted with a 7-inch control panel tablet. Passengers can control the car’s air conditioning, ventilation, cooling, side windows, sunroof, and even the massage function.

When it comes to performance, the 7 Series 730i can generate 265 hp of power and 400 Nm of torque, which both make for a smooth and steady ride.  

Lexus LS 500

insurance cost of expensive cars in the philippines - Lexus LS 500

Annual car insurance premium: ₱118,836 to ₱168,351 (2022 500 3.5L Gas A/T RWD Sedan 5-Seater)

A classy sedan that’s the embodiment of all things fine―that’s the Lexus LS 500. The LS series has gone through various modifications since 1989, and it only gets better with age. The modern iteration can seat up to five people, making it an ideal family ride.

Its power measures 415 hp, and it has a torque of 600 Nm, a testament that strength and performance can also come with beauty.

Read more: List of Car Insurance Add-Ons: What Coverage Do You Need?

Lexus LX

Annual car insurance premium: ₱154,782 (2022 LX 570 5.7L Gasoline A/T)

The Lexus LX is a colossal SUV that’s also big on features. While it looks luxurious, it can effortlessly take on off-road assignments, thanks to its tough truck platform and 5.7L gasoline engine that boasts a power output of 362 hp.

On the other hand, the roomy cabin is nothing short of elegant. It’s outfitted with leather and some wood inserts for a warm appeal. For comfort, the Lexus LX has a four-zone climate control that can be adjusted based on the requirements of the passengers.

This SUV’s entertainment system also is equipped with a DVD player, an SD card slot, and a Mark Levinson audio system.

Mercedes-Benz E200

insurance cost of expensive cars in the philippines - Mercedes-Benz E200

Annual car insurance premium: ₱108,204 to ₱153,209 (2022 E200 AMG Line 2L Gas A/T)

Stylish and sporty, the E200 features a two-liter turbocharged engine and a nine-speed automatic transmission that makes this Mercedes midsize sedan fuel-efficient. The car’s cockpit is intuitively designed to make sure that the driver and passenger can easily and comfortably settle in.

Touching the leather-wrapped steering wheel will remind you of Mercedes-Benz’s top equities―prestige and luxury. For comfort, the E200 is built with Thermatic automatic climate control. Meanwhile, the entertainment and atmosphere are tasks left in the hands of the Harman Kardon Logic 7 sound system.

Lexus RC

Annual car insurance premium: ₱106,904 to ₱151,358 (2022 RC F Carbon 5L Gas A/T)

Lexus is Toyota’s luxury car division. 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 features that make the ride truly fun and comfortable, from the dual-zone auto air conditioning system to the Mark Levinson audio set-up with 17 speakers. It also boasts electric adjustable seats, power windows, and keyless entry.

With a price of ₱5.7 million, its annual insurance premium is pegged between ₱106,000 and ₱150,000+. This means you’ll need to shell out a monthly payment between ₱8,000 and  ₱13,000.

BMW X5 xDrive30d

Annual car insurance premium: ₱109,241 to ₱141,538 (2022 X5 xDrive30d M Sport 3L Diesel A/T)

The X5 units are among the best-selling luxury crossovers of BMW.[1] A lot of people are easily drawn to its sharp yet elegant look. Others, meanwhile, are more focused on its muscularity and functionality. Every ride is powerful yet smooth, as the X5 xDrive30d is equipped with an engine that can generate up to 265 hp of power output and a torque of 620 Nm.

It’s also loaded with infotainment features, from a touchscreen console to front and rear speakers. The roomy interiors can either accommodate your family or your road trip essentials, making the car an ideal choice for people who always move with companions or for weekend warriors who love driving to the countryside.

Compared with the BMW X5 2019 price in the Philippines, the cheapest BMW car insurance for this model in 2023 is around ₱9,100 per month.

Get a free car insurance quote

Land Rover Range Rover Velar

Annual car insurance premium: ₱105,147 to ₱136,211 (2022 Velar 2L Diesel A/T)

An expensive car in the Philippines like the Range Rover Velar definitely comes with a hefty insurance premium. It should not come as a wonder, since the Velar is priced between ₱5.89 million and ₱6.19 million.

The Velar is the embodiment of style and practicality. It can serve as a family car since it can seat up to five people. When it comes to engine and performance, the Velar can churn out a power output of 178 hp and 430 Nm of torque.

Mercedes-Benz GLE-Class 300d

Annual car insurance premium: ₱102,345 to ₱132,564 (2021 GLE-Class 300d 4Matic 2L Diesel A/T)

Time and again, Mercedes-Benz shows that it dominates when it comes to luxury SUVs in the Philippines. Proof of it is the Mercedes-Benz GLE-Class.

Departing from the usual boxy body of SUVs, the GLE-Class dons a much more modern look with the adoption of curvy corners.

Inside, the midsize SUV is equipped with an advanced infotainment system and a number of integration systems, such as Apple Carplay and Android Auto. Moreover, the GLE-Class has a voice-command function that makes tasks related to navigation, music, and phone calls much easier.

On the other hand, its two-liter diesel engine makes for smooth and stable driving, as it can generate a power output of 245 hp and 500 Nm of torque.

Because of the Mercedes-Benz GLE 300d price in the Philippines, it fetches a luxury car insurance cost of around ₱8,000 to ₱11,000 per month.

Jaguar F-PACE

insurance cost of expensive cars in the philippines - Jaguar F-PACE

Annual car insurance premium: ₱94,740 to ₱122,667 (2022 F-PACE Prestige 2L Diesel A/T)

The F‑PACE is an expensive car in the Philippines that has an all-wheel-drive capability. It’s Jaguar’s first model in the crossover SUV category. While it has a sporty appeal, it can double as a family car since it has ample seating and a roomy storage space.

The interiors are absolutely lavish, as this part of the car is outfitted with carpet mats, a two-zone climate control system, a 10-way electric front seat, and more. When it comes to performance, the F-PACE certainly doesn’t disappoint.  

While some seasoned luxury car owners believe that diesel and Jaguar don’t go well together, the F-PACE has shattered such expectations. Its engine can generate a power output of 178 hp and a torque of 430 Nm. These performance features make the F-PACE a superior driving machine in the city.

Chevrolet Camaro

Annual car insurance premium: ₱67,310 to ₱116,621 (2022 Camaro 3LT RS 2.0L Gas A/T)

The sporty, midsize Camaro is one of Chevy’s most expensive cars to insure. The interiors are full of utilitarian wonders. For one, the driver’s seat can be adjusted in eight ways. The two front seats even have heating and cooling features. The car also has dual-zone automatic climate control.

As a sports car, the Camaro is packed with power, thanks to its engine that can generate 275 hp of power output and 398 Nm of torque.

Ford Mustang

Annual car insurance premium: ₱66,788 to ₱115,705 (2022 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. It remains one of the most expensive cars in the Philippines for a lot of reasons. Being a sports car, it can churn out a power output of up to 460 hp and over 500 Nm of torque. It also has a slew of advanced features, from cruise control to front parking sensors and a lane departure warning system.  

If you’re saving up for a Mustang purchase, you may also wonder, “Are Ford parts expensive in the Philippines?” The short answer is yes. Because of that, prepare to pay up to ₱115,000 per year to keep your Mustang insured.

Toyota Alphard

insurance cost of expensive cars in the philippines - Toyota Alphard

Annual car insurance premium: ₱74,183 to ₱100,575 (2022 3.5L Gas A/T)

Company executives love them, and travelers want to have them. This is because the Toyota Alphard rolls utility, flexibility, and luxury into one minivan.[3] Its boxy silhouette is easy to recognize; nevertheless, the opulent appeal is there.

Inside, the seats will make you feel like a VIP, as they have a control panel and even table service. It also has a three-zone climate control system to ensure comfort in every ride.

In a nutshell, riding an Alphard is like sitting in a lounge. As for its performance, the Alphard’s 3.5-liter gasoline engine offers 292 hp of power output and 361 Nm of torque.

As one of Toyota’s most expensive cars, the Alphard has an annual insurance cost that may reach up to ₱100,000.

Mercedes-Benz GLA-Class

Annual car insurance premium: ₱45,321 to ₱62,900 (2022 GLA-Class 200 AMG Line 1.6L Gas A/T)

Crossovers are often viewed as flat yet bulky cars. But they can be stylishly compact, too! Just look at the Mercedes-Benz GLA-Class. The cabin offers ultimate comfort, as the front and rear sections are designed with advanced ergonomics. The infotainment system is made innovative with the Harman Kardon sound system.

The GLA-Class easily offers a joyful driving and riding experience with the help of its 1.3-liter engine that churns out 163 hp of power and 250 Nm of torque.

Mercedes-Benz AMG GTR

Annual car insurance premium: Upon request

The Mercedes-Benz AMG GTR can definitely compete with the likes of the Porsche 911 GT3. With the AMG GTR, you can maneuver the streets of Metro Manila in its standard race drive mode.

The Mercedes AMG GTR price in the Philippines is around ₱8.9 million. It’s equipped with an 8-cylinder 4-liter engine that can produce a maximum of 505 PS power and 650 NM torque. It also comes with major features like climate control, a multi-function steering wheel, parking sensors, multiple airbags, anti-lock braking, and a touchscreen infotainment unit.

Get the GTR insurance cost upon request through Moneymax.

Lamborghini Huracan

insurance cost of expensive cars in the philippines - Lamborghini Huracan

Annual car insurance premium: Upon request

How much is it to insure a Lamborghini? The insurance cost of expensive cars in the Philippines, like a Lambo, will reach six digits depending on the variant.

As an aggressive track monster that turns heads everywhere, the Lamborghini Huracan has a commanding price of ₱22 million to as much as ₱29 million. It’s stylish and clean with a 5.2 liter V10 gasoline mill and 7-speed dual-clutch transmission. That’s a speed of up to 100 kph in under three seconds!

And of course, it comes with top-of-the-line safety, comfort, and entertainment features that are just too many to mention. But trust us when we say they come with the Lambo’s million-peso price tag.

Curious about the Lamborghini Huracan insurance cost? Get a car insurance quote through Moneymax.

Read more:

What Makes Car Insurance Expensive?

Many things affect how much you pay for your car insurance. Some of them you can control, but others you can’t. 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 significantly, 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, or does it have 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[4]
  • Vehicle make and model
  • Vehicle type (sedan, SUV, AUV, etc.)
  • Car safety rating

Read more:

Final Thoughts

The correlation between a car and insurance costs is easy to understand. Thus, the insurance cost of expensive cars in the Philippines will also be high, mainly because of the unit’s potentially pricey repair costs. Luxury cars have hard-to-find parts that 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.

Compare car insurance quotes online through Moneymax. And because we also offer end-to-end car insurance services, you can also enjoy efficient and hassle-free insurance applications!  

Car Insurance Company Maximum Total Sum Insured CTPL Coverage Own Damage & Theft Coverage Acts of Nature Coverage Death / Disablement Coverage
FPG Insurance
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₱4 million
Malayan Insurance
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₱7.5 million
The Mercantile Insurance Corporation
mercantile insurance logo
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₱5 million
OONA Insurance (formerly MAPFRE)
Oona logo_horizontal with insurance_purple
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₱5 million
PGA Insurance
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₱3 million
SGI Philippines
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₱5 million
Standard Insurance
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₱5 million
Stronghold Insurance
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₱3 million


Jay is a marketing communications professional who specializes in short-form and long-form content. He has written ads for TV, radio, print, and digital. He has also produced corporate blogs, magazine features, white papers, product listings, reviews, and press releases for clients here and abroad. When he’s not writing, Jay plays the piano or takes pictures for his visual diary. Follow Jay on LinkedIn.


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