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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?

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“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! “
Car InsuranceDodge
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