Dodge has marked the return of the muscle car with its supercharged Hellcat used in the Charger, Challenger, and Durango, but insuring one of these high-horsepower beasts can be a pricey endeavor. If you’re a Dodge Hellcat owner or want to become one, knowing how much Dodge Hellcat insurance costs can help you make an informed decision on what kind of policy you need. Researching different insurance providers and their rates can seem daunting, as there are many policies that Hellcat owners can consider. Keep on reading to learn more about how much it costs to insure a Dodge Hellcat and how you can reduce your insurance premiums.
History of the Dodge Hellcat
The Dodge Hellcat combines bold styling with outrageous power that ranges anywhere from 707 horsepower up to as much as 807 horsepower. The Hellcat was created for drivers wanting tire-shredding performance from a factory-build car. Designers and engineers came together in secret to create a more powerful engine than other car manufacturers and named the new trim model after WWII’s Grumman F6F “Hellcat” fighter plane.
After engineers and designers finished creating this new powerful engine, Dodge launched the Challenger SRT Hellcat and Charger SRT Hellcat for the 2015 model years and later the limited-production Durango SRT Hellcat for the 2021 model year. Since 2015, Dodge has offered 15 different Hellcat models (with a variety of trim options and power output) that can affect insurance premiums for those collectors and drivers wanting to protect themselves and their vehicles.
Average Cost To Insure a Dodge Hellcat
For this article, we’ll focus on the Challenger for the sake of simplicity. The average cost to insure a Dodge Challenger, which includes the Hellcat trim model, is $1,567 per year. This average is based on a driver who has 100/300/100 liability insurance as well as comprehensive and collision coverage, which is the recommended coverage amount with many insurance companies. This rate can vary based on individual locations and trim model details. Compared to other vehicles, the Dodge Challenger is more expensive to insure.
Insurance Rates for Hellcat Owners
Understanding what you might pay with different major insurance providers can help you find the plan that works best for you. Different providers have different rates because of how they calculate insurance premiums and how risky they deem insuring a Dodge Challenger will be. Here’s what you can expect to pay for a base model Dodge Challenger with different insurance companies, which can help you better understand what you might pay for the available Hellcat trim:
- GEICO: $1,406 annually/$117 monthly
- State Farm: $1,571 annually/$131 monthly
- Progressive: $1,598 annually/$133 monthly
- Nationwide: $1,693 annually/$141 monthly
- Allied: $1,836 annually/$153 monthly
- Allstate: $1,855 annually/$155 monthly
If you’re an active-duty military service member, veteran, or immediate family member of one of these, you can also elect to get your insurance through USAA. This can help you save the most on your insurance rates, as the average annual rate with USAA is $1,238, with a monthly rate of $103.
Average Cost of Insurance for Different Model Years
The model year of your Dodge Challenger SRT Hellcat can also affect your insurance premium rates. Generally, you can expect newer model years to have higher insurance premiums than older Hellcat models. Here’s what you can expect to pay for different model years of the base Dodge Challenger, which includes the Hellcat trim option, with GEICO:
- 2020 Dodge Challenger: $1,535 annually/$128 monthly
- 2019 Dodge Challenger: $1,500 annually/$125 monthly
- 2018 Dodge Challenger: $1,473 annually/$123 monthly
- 2017 Dodge Challenger: $1,482 annually/$124 monthly
- 2016 Dodge Challenger: $1,369 annually/$114 monthly
Finding trim options in older model years can help you save on your insurance premiums because these are less expensive to repair than newer model years. Getting the base trim options for your Challenger can also have a lower annual rate because they are generally less expensive than higher trim options.
Factors That Influence Insurance Rates
There are many factors that can affect your annual insurance rates for your Dodge Hellcat. Understanding these different factors can help you determine which Hellcat trim to choose and what additional features to select. Here are some factors that can affect insurance rates for the Dodge Hellcat:
- Engine size: More powerful engines have higher premium rates due to their capabilities and speed. A less powerful engine option, like the one in SRT Hellcat models, may have lower premium costs than the upgraded engine in the Hellcat Redeye models because it has less horsepower.
- Driving history: An individual’s driving record can affect insurance rates, and drivers who have tickets, accidents, or traffic violations can expect higher insurance premiums. This is because insurance companies consider those who have these items on their record riskier to insure than those with a clean driving record.
- Credit score: Your credit score can affect your annual rates because it reflects how trustworthy you are with respect to paying your bills on time. Lower credit scores can result in higher insurance premiums because companies deem people with lower credit scores a higher risk to insure.
- Physical location: Where you live and drive matters because different cities and states have different accident, theft, and damage rates. Living in highly populated areas or areas with high accident ratings can result in a higher policy rate, whereas rural areas often have lower accident rates.
How To Save Money on Insurance as a Hellcat Owner
There are several ways to help you save on your insurance costs. Many insurance companies offer unique discounts and policies to help you get the most out of your insurance plan without breaking the bank. Here are some ways to help you save when insuring your Dodge Hellcat:
- Raise your deductible: Raising your deductibles to a higher rate can help you reduce the overall cost of your policy because you will cover more out of pocket for physical damages in case of an accident.
- Boost your credit score: Improving your credit score can help insurance companies classify you in a lower risk category, which can lessen your insurance premiums.
- Opt for base trim models: Finding older trim models or buying the least-powerful Hellcat trim models can help you reduce your annual rates because these models often have less power than newer or higher trim options.
Learning about your insurance options for a Dodge Hellcat can help you make an informed decision about purchasing an insurance policy. Comparing different insurance companies and policies can help you find the right insurance coverage that meets your needs and eases the impact on your wallet.
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.
