Getting quality insurance for your Dodge Demon is an important step to protecting yourself and your vehicle. The 2018 Dodge Challenger SRT Demon is a rare muscle car with a reputation for power and speed, which can affect insurance premiums. Researching your insurance options that balance price with coverage can be challenging because many insurance options are available for Demon owners. Keep on reading to learn more about insuring a Dodge Demon and how you can save on your insurance policy.
The Dodge Demon
The Dodge Demon has a long history as a powerful muscle car, with its roots going back to 1971. Originally produced as a more powerful Dodge Dart, this muscle car has evolved to the 840 horsepower beast it is today. The new line of Dodge Demons is based on the Dodge Challenger, and it was only produced for the 2018 model year. This was an extremely special muscle car with just 3,300 examples made, and the highlight of this car was the supercharged engine that was capable of laying down 840 horsepower on 100-octane racing fuel. The Challenger SRT Demon was a big step up from the 707-hp Challenger SRT Hellcat.
Between the low production and the high horsepower, drivers can expect to see high Dodge Demon insurance costs.
Average Cost to Insure a Dodge Demon
Since many factors can influence insurance rates, the cost to insure this vehicle can vary between drivers. It’s important to compare costs from different insurance providers to find the best deal that offers the level of coverage you want for your vehicle. If you have a Dodge Demon, you can expect to pay the following average insurance rates with these leading insurance providers:
- Progressive: $1,135 bi-annually/$189 monthly
- State Farm: $1,147 bi-annually/$191 monthly
- GEICO: $1,860 bi-annually/$310 monthly
- Farmers: $2,640 bi-annually/$440 monthly
- Allstate: $7,094 bi-annually/$1,182 monthly
Getting quotes from several large and small insurance companies can help you find the best rates for your vehicle. Rates can vary significantly because some insurance companies place more risk on Dodge Demon drivers than others.
Insurance Cost for Young Drivers
Young drivers between 17 and 19 can expect to pay more than drivers in other age groups because companies often consider these drivers riskier to insure. This is due to the number of accidents drivers in these age groups are involved in. To help reduce costs, you might consider sharing a policy with drivers of other age groups. This can result in cheaper coverage rates than insuring a Dodge Demon under a single policy. If you’re 17 years old and trying to insure a Dodge Demon, you can expect to pay the following rates with these major insurance providers:
- Progressive: $4,580 bi-annually/$763 monthly
- Farmers: $5,484 bi-annually/$914 monthly
- State Farm: $6,529 bi-annually/$1,088 monthly
- Allstate: $12,315 bi-annually/$2,053 monthly
If you wait until you’re 19 years old to purchase and insure a Dodge Demon, you can expect a lower bi-annual and monthly rate to insure your vehicle. Here are the rates you can expect if you insure a Demon at 19 years old:
- GEICO: $3,076 bi-annually/$513 monthly
- Progressive: $4,424 bi-annually/$737 monthly
- Farmers: $4,757 bi-annually/$793 monthly
- State Farm: $5,416 bi-annually/$903 monthly
- Allstate: $12,526 bi-annually/$2,088 monthly
Factors Influencing Dodge Demon Insurance Rates
There are many factors that an insurance company considers when calculating your insurance rate. Understanding these different influencing factors can help you finds ways to lessen their impact on your insurance rates and help you find an insurance company that offers the coverage you want at the price that’s right for you. Here are some influencing factors to consider when seeking insurance for your Dodge Demon:
- Safety rating
- Engine size and performance
- State insurance policy requirements
- Vehicle price
- Personal driving record
- Preferred coverage amount
- Gender and age
- Geographical location
Many of these factors are within your control, such as your personal driving record, deductible amounts, and geographic location. Controlling these factors can help you have more control over your insurance costs. When comparing different insurance companies, ensure you compare similar coverage options to compare these costs effectively.
Ways to Save on Insurance Costs
There are many ways to help you save on your insurance premiums. Knowing about the different ways to save can help you develop an actionable plan to reduce your insurance-related expenses. Here are some ways to save on your insurance for your Dodge Demon:
- Raise deductibles: Raising your deductibles to a higher rate can help you reduce the overall rate for your insurance premiums. For example, you might raise your deductible from $500 to $1,000 to reduce your rates.
- Have a clean driving record: A clean driving record can help insurance companies better understand your driving habits and safety mindset. This can help them feel more comfortable with a lower premium rate because they see safer drivers at a lower risk.
- Bundle insurance policies: Many insurance companies offer bundling packages where you can combine your auto insurance with other types of insurance, like home or boat insurance. This often results in discounts on both insurance policies and can help you save.
- Earn policy discounts: There are also several policy discounts to research with your insurance company that can help you save if you meet certain conditions. Some companies offer additional discounts for certain work occupations, a safe driving history, and certain age groups.
- Drive safely: Remaining vigilant when you’re driving in any vehicle can help you avoid accidents or damages, increasing your insurance premiums even if you’re not at fault. Driving within the speed limit and obeying traffic laws can also help you maintain a clean driving record.
The Dodge Demon is a sporty muscle car that often requires excellent coverage to protect you from damage or accident expenses. Comparing various insurance options can help you find the provider that offers excellent coverage at a price that works for you and your vehicle.
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.