If you’re interested in purchasing a Dodge Charger, you may first want to know the insurance rate you’ll have to pay. Because many insurance companies consider Dodge Chargers muscle or sports cars, they may cost more to insure than other vehicles such as sedans.
Understanding the differences between insurance rates and the average rate for a Dodge Charger can assist you when deciding to buy one. this article talks about the average cost of insurance rates for Dodge Chargers, the least expensive options for these rates, and how Dodge Charger insurance rates compare to other muscle car insurance premiums.
What Is a Dodge Charger?
Image via Flickr by bickars
The Dodge Charger name was used on a series of muscle cars from the ’60s and ’70s as well as a front-drive compact in the 1980s before being used again on the 1999 Dodge Charger R/T concept vehicle. Dodge finally resurrected the Charger nameplate in 2005 marketed as a full-size sedan/four-door muscle car. Since its reintroduction, the Dodge Charger has been offered in a variety of high-performance configurations including the R/T, R/T Scat Pack, SRT Hellcat, and SRT Hellcat Redeye.
What Is the Average Cost of Insurance Rates for Dodge Chargers?
The average monthly cost for insuring a 2021 Dodge Charger is around $212, or $2,545 a year. Several factors affect the interest rate on a Charger, with one of them being its age. For example, the average cost of an insurance premium for a 2011 Dodge Charger is $158.31, which is significantly less than its 2021 counterpart. Other factors that may influence your auto loan rate for a Charger include:
Insurance Company
The insurance company you choose to get your coverage through can make a difference in your auto loan rates. For example, Progressive offers coverage for a Dodge Charger at $168.75, while Farmers provides coverage for this vehicle for $243.73. As you can see, these rates are very different in terms of cost, so it’s a good idea to shop around before deciding on an insurance provider.
Driving Record
Your driving record is another major factor when determining your insurance rate. If you have DUI charges, moving vehicle citations, or crash claims in the last 5 to 10 years, you may end up paying more for your premium. People without these instances on their record may receive a lower rate.
How Often You Drive
Another component many insurers look at is how often you use your vehicle. Those who use their vehicle frequently may end up with a higher rate. Those who only use their car occasionally, such as to go to the grocery store or run errands, may get a lower insurance premium to cover their vehicle.
Your Age
Your age can also impact your insurance premium. In most cases, younger people, such as teenagers, will pay more for car insurance than older individuals. This is because those with little to no previous driving experience may be more likely to get into a car accident.
Your Past Insurance History
If you have a long history of past auto insurance, you may receive a lower rate than those with little to no previous insurance history. This is because insurance companies can’t compare your driving habits and claims without a history of insurance policies.
Your Coverages
There are several different types of coverages you can opt to include in your insurance premium. Some of these are collision insurance, liability insurance, and uninsured and underinsured motorist coverage. In most cases, the more coverage you have, the higher your rate may be.
Your Deductible
Your deductible is another factor that can influence the cost of car insurance. A deductible is how much you’re required to pay before your insurance begins covering costs associated with a claim. In most cases, a higher deductible means a lower premium cost.
What’s the Least Expensive Option for Dodge Charger Insurance Rates?
State Farm currently offers the cheapest rate on the market, with coverage costing $3,275 a year, or $272.92 a month, for a 2019 Dodge Charger. This was a significantly lower rate when compared to other insurance companies such as Geico, Allstate, and Progressive. It’s important to keep in mind that the above-mentioned factors will also affect your rate and can result in a higher or lower insurance premium depending on those factors. Shopping around for insurance for your Dodge Charger is your best bet when searching for the least expensive option for coverage.
The following are additional options that may be lower than the overall average insurance premium for a Dodge Charger:
- Amica: $345
- Auto-Owners: $367
- Geico: $382
- USAA: $355
- State Farm: $496
Are All Dodge Charger Insurance Rates the Same?
Some Dodge Charger models may cost more to cover than others. For example, the average insurance cost of the Dodge Charger SXT is $2,635 per year or about $220 per month. The Dodge Charger SRT Hellcat, on the other hand, has an average insurance rate of $3,923 per year, or about $326 per month. It’s crucial to inquire about whether the model of your vehicle will impact your premium when shopping for car insurance. Knowing this can assist you in comparing rates between insurance companies.
Dodge Charger Insurance Rates vs. Other Muscle Cars
In many cases, a Dodge Charger may cost more in insurance premiums than other muscle cars. However, because this vehicle is the only four-door sports sedan available, it’s difficult to make an exact comparison. One comparison is the 2019 Chevrolet Camaro 1SS, which has an average cost of $4,675 per year or $389.58 per month. This is about the same compared to Dodge Charger insurance rates.
When shopping for insurance coverage for a Dodge Charger, it’s essential to consider all the factors that influence this rate. You can ask the insurance providers you speak with about what affects your rate and how you can lower it.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.
