Why is the insurance so expensive for a 23-year-old on a Dodge Challenger?

I want a 2019 Dodge Challenger. I'm 23 years old with a spotless driving record. Why is my insurance so expensive?

“Since you’re under 25 and you want a sports car, your insurance is going to be pretty expensive. Younger drivers are viewed as being riskier to insure, and a high-powered sports car just adds to this perceived risk.
A monthly rate of $500 or more is probably about what you can expect, and this number will go even higher if you’re financing. If you take out a loan, the lender will require you to get collision coverage and comprehensive coverage, pushing your premium up.
Therefore, you might want to think about buying an older vehicle or one that’s more economical to avoid the expenses associated with full coverage on a sports car. Whatever car you buy, sign up with Jerry to get quotes from up to 45 top insurance companies in seconds! “
Eric Schad
Answered on Apr 23, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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