Got my insurance bill in the mail yesterday and was surprise to see that it costs more to insure a Jaguar S-Type than it does an ES350.

Waiting to see how the annual excise tax bill compares...
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My karma just ran over your dogma
Current Hers: '13 Lexus ES350
Current Mine: '08 Jaguar S-Type 4.2 "Satin Edition" (250.06 whp / 259.67 torque)

 

Not sure why that would be a surprise. The fact that one is a sports car and the other a 4 door sedan should be telling enough.

 

>The fact that one is a sports car and the other a 4 door sedan should be telling enough.

Nope, the Jaguar is a V8 powered four door sedan. Probably a closer comparison to GS400 than an ES.
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My karma just ran over your dogma
Current Hers: '13 Lexus ES350
Current Mine: '08 Jaguar S-Type 4.2 "Satin Edition" (250.06 whp / 259.67 torque)

 

so a sports sedan then?

 

Well, there's your answer, then.

 

If this is what you consider a sports sedan...



I'm surprised it cost so much to insure the S-type since it is so old now and not worth that much due to terrible resale value of Jaguars. Maybe consider changing the coverage?

 

>I'm surprised it cost so much to insure the S-type since it is so old now and not worth that much due to terrible resale value of Jaguars.

Yup, that's it. Don't disagree about the resale value, but I bet the repair costs are considerably higher than the Lexus, though, and that's what the insurance costs are going to be based on, you would think.

Wonder how insuring a similar GS would compare?
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You dreamed of a big star -
He played a mean guitar -
He loved to drive his Jaguar...

So welcome to the machine

 

I am thinking about getting a Camaro SS and asked my insurance guy what that would cost. It only adds $12 a month to the bill. Surprising given the fact that the car has 460 HP. I am 65 years old but that don't mean that I drive slow all the time. Go figure...

 

Where I live costs more to insure a Corolla than a Lexus ES.

A Corvette costs less than a Lexus.

It's not about the car, or what it costs or how sporty it is. It is about the insurance claims per model per number insured. Corvette drivers apparently don't have many claims (I suppose they baby their cars). Corolla owners have plenty of claims per vehicle insured.

 

I am surprised the rates for my '14 ES350 (purchased new) keep going up as the value goes down (no accidents or claims).

 

I suggest shopping for a new insurance company and see if there are savings to be had.

 

It is not so much damage to the cars or value of the car that sets rates, it is more liability and medical claims from accidents.

 

Everyone is correct. Insurance is funny business. While insuring a Jaguar is more expensive than a Lexus for your insurance carrier, it may not necessarily be the same for another insurance carrier. Insurance carriers use Actuaries who use mathematics, statistics, financial theory to study risks, etc. and projected profits to come out with the premium they will charge. Every company does it differently and use different parameters and logic. Thats why its different.

As an example, two young 18 year old male driver, with clean driving histories, can try to insure a Lexus IS and they both can get very different rates!

You can never tell your insurance agent that your neighbor is paying X and you should pay X too. It just doesn't work that way.

 

I think that this is a very accurate and informing post. Unfortunately this IS how the insurance companies do things. What really gets me is that although your car depreciates in value, the rates continue to climb year after year. Only makes sense to the insurance company. A necessary evil...

 

Insurance companies will tell you that there are rising costs & expenses for their business operations, claims, and increasing fraud.

I say baloney! I don't know of an insurance carrier that doesn't make money!