One of the most important things that many car shoppers fail to account for is how much their insurance is going to cost them. They're happy to take the brand new 2022 Dodge Charger SRT out for a test-drive, set aside thousands of dollars for a down payment, and rationalize a way to make their monthly payments on time...
But they forget how much Dodge Charger insurance is going to cost them. Insuring a brand-new Dodge Charger isn't as cheap as insuring the old beater Honda that you used to drive. It's likely going to cost double or even triple of what you would pay for an older, used vehicle.
However, as the saying goes, "You only live once. " So, if it makes you happy, then why not?
Your Dodge Charger insurance cost is going to depend on a lot of different factors. Auto insurance rates typically differ based on the model of your vehicle, your driving record, credit score, years of experience behind the wheel, and whether or not other drivers are going to be sharing your policy as well.
In today's article, we're going to discuss how to insure a Dodge Charger so that you can be road-legal and enjoy the awesomeness of American muscle!
If you didn't already know, it's legally required in all 50 states for car owners to purchase auto insurance policies for their cars . While most states only require a limited amount of auto insurance, some states require you to purchase a policy that covers higher amounts of damage coverage.
The most expensive cities and states are areas where there is a higher percentage of vehicular accidents (such as Miami, Florida, or Las Angeles, California), while the cheaper cities tend to be smaller towns and states where there isn't a high percentage of car accidents.
Most states require basic liability insurance, which includes a small amount of property damage coverage and bodily injury liability coverage. These cover the other driver's vehicle repair and medical costs should you be found to be "at-fault " in an accident. Basically, it saves you from getting sued should the worst-case scenario occur.
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No doubt, sports cars are more expensive not only in terms of price but also in terms of insurance costs.
Dodge Charger, a popular American sports car, has an average insurance cost of $2,400 per year or $200 monthly.
That's almost 2.5 times the national average.
However, these values are only an average as the real values vary according to different individual factors and companies.
For your convenience, please find more information below.
| Year | Average cost per month | Average cost per year |
|---|---|---|
| 2010 | $190 | $2,300 |
| 2011 | $195 | $2,350 |
| 2012 | $200 | $2,400 |
| 2013 | $200 | $2,400 |
| 2014 | $300 | $3,600 |
| 2015 | $325 | $3,900 |
| 2016 | $325 | $3,900 |
| 2017 | $340 | $4,100 |
| 2018 | $340 | $4,100 |
| 2019 | $350 | $4,200 |
| 2020 | $350 | $4,200 |
| 2021 | $355 | $4,250 |
| 2022 | $373 | $4,476 |
As we mentioned above, insurance rates for your Charger are going to differ greatly, depending on a number of different factors.
But if you're looking for an average number: $3,552 per year.
On average, we found that a new Dodge Charger costs $700 more to insure per year than a typical 4-cylinder economy sedan. They're definitely not the cheapest cars to insure . This is likely due to the following factors:
Chargers are typically driven by younger individuals.
Chargers are sports cars that are more likely to be involved in reckless accidents and drivers are more likely to receive tickets for traffic violations.
Dodge Chargers are more expensive than economy cars. The higher the value of the vehicle, the higher the insurance premiums will be.
However, keep in mind that this is merely an average number obtained from a nation-wide study of Dodge Charger drivers. You could pay a lot less if you have a great driving record, you're in your mid-thirties and have a good credit score. You could also pay a lot more if you're under 25, don't have great credit, and have a prior accident on your record.
So, all of that being said, you're probably wondering about some of the different factors that affect your car insurance rates for this popular American sports car.
The biggest factor that will affect the cost of your Charger insurance policy is the year of the vehicle. For instance, a 2022 or 2021 Dodge Charger is going to be a lot more expensive to insure than a 2016 or 2017 Dodge Charger. This is because most new cars lose up to 10% as soon as you drive them off of the lot!
If you own a historic or classic model, these can also be expensive to insure since they have a far higher value that depends on their restoration’s depth.
In general, the smaller your engine is, the less you'll pay for insurance costs. Below, the most common Dodge Charger trim packages are listed in order from least expensive to insure to most expensive to insure:
SXT/GT (Cheaper insurance costs)
R/T or Dodge Charger Daytona (Average insurance costs)
Scatpack or SRT Hellcat Package (Highest insurance costs)
If your new charger has a basic silver, white, or black paint color, then you'll usually pay a little bit less than somebody who has a bright red, blue, or green paint color. This is because bright-colored cars are statistically likely to be in more accidents and commit more traffic violations.
Insurance companies like State Farm (and most other insurers) charge car owners more if they plan on driving their car over 12,000 miles per year (the national average). If you drive less than this, however, you might stand to save a bit of money on your insurance quotes.
If you have a clean driving record (no recent accidents, tickets, or tax liens), then you'll get a better insurance rate. However, if you have been in past accidents or have had points added to your license from tickets, then you'll pay more.
Drivers under 25-years-old are, by far, the most expensive to insure. Once you hit age 35, though, you'll see a considerable drop in your monthly premium costs. Senior drivers (65 or older) have the best eligibility for cheap insurance.
Your credit score also affects your premium costs per month. If you have a low credit score, you're more likely to miss a payment or have your insurance lapse, costing the insurer more time and money to get your account up to date.
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I was shopping for auto insurance on 11th September 2023. Liberty took$8614 out of my bank that same night without my permission. And now they will not return my hard earned money. Every time I call ,they give me sorry excuses. And now they tell me that ,yes we took your money by fraud. Go write your congressman. But we'll give it back to you in 15 days. Meanwhile my bills are piling. Liberty Mutual stole my money. Please avoid Liberty Mutual at every cost.
I have dealt with many auto insurance companies in my life time but none as deceitful as AAA!! I signed up with a AAA insurance agent back in March. The premium I was would be $138/month-(all good). The agent told me I had to pay 4 months in advance so I gave my credit card to pay for the 4 months including the current month. One month later I received my monthly invoice for payment. The amount due had jumped from $138 (monthly) to $276. I called AAA and they said this was because of an accident that occurred 5 months prior where the other driver was at fault, though the case was still had yet to be closed. AAA would not accept the quoted premium of $138/month. So I shopped for a new insurance policy. A division of Farmers Insurance (Toggle) sold me their auto policy which was superior to AAA at $118/month with only $500 deductible. I canceled AAA and jumped onto the Farmers policy. I contacted AAA to cancel the policy and requested the 3 months paid in advance be reimbursed to me. I was told that I would not be reimbursed and in fact I was still responsible for the premium payment of $276 - that this payment would not be forgiven. I have since filed a claim with the BBB (Better Business Bureau) and if this fails I will take AAA to small claims court. Prior to this experience I respected the AAA name. I've learned that this company is simply TOO BIG and feel they can take advantage of their customers at will. I have since canceled EVERYTHING AAA (roadside service and an insurance policy). This big business corporation is NOT TO BE TRUSTED!!!!
Total scam. Beware. They use drive easy app to bat and switch.
Geico has the worst customer service! They changed my policy without my authorization and doubled my monthly payments in error!
Terrible company when it comes to honor their liability for other automobilists. Their driver crossed right light, destroyed my vehicle and liberty mutual denied my claim. First, for months they did not respond our emails. Than I called and their agent Danelle Bechard asked me to email her the details of the accident. another two months passed and again, no response from her. I called again and she was like, let me check your email and said, your claim is denied. She decided in few seconds after checking my email. In fact she never read my emails, just wanted to give me false hope. They could do investigation, they could read my emails, they could go through pictures but hey had already decided to deny my claim. They knew that I do not have a camera in my car or any witness. I am an Uber driver, I lost my car, and my job because of this accident. I had to borrow money from friends to purchase another car and I still owe money. Just because I cannot prove it, does not mean it did not happen. I could not do anything so just writing this review.
Not all those who wander are lost.
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