Nissan GT-Rs are luxury sports cars, and the annual cost of insuring them ($3,945 for full coverage, including collision and comprehensive) reflects that fact. This is $2,271 more than the national average cost of auto insurance, which was $1,674 per year in 2021, according to data from Quadrant Information Services.
Multiple factors go into determining your premium: from your driving record and zip code (in most states) to the age, make and model of your car. In general, you can expect to pay more to insure sports cars like the GT-R, mainly due to the cost of repairing or replacing them.
how much does it cost to insure a nissan gt-r?
You may be wondering what accounts for the nearly $2,500 gap between the national average cost of car insurance and the Nissan GT-R’s rates. Auto insurance rates are influenced by numerous auto and personal factors, including the make and model of your vehicle to account for different accident statistics, the price of parts, safety features, speed capabilities and more.
the nissan gt-r is a luxury sports car with an average sticker price between $115,335 and $217,485. insurance companies consider the high value of this vehicle, knowing that covering repairs or a replacement vehicle can be expensive. Sports cars like the Nissan GT-R are also considered more likely to be used for risky driving, which may also factor into higher-than-average auto insurance rates for this model. Also, foreign vehicles like Nissans are made with more expensive parts in general, which can affect auto insurance rates.
car insurance for a nissan gt-r
To understand your auto insurance rates, you may be wondering what factors insurance companies consider when calculating your premium. Depending on the state and the specific insurer, car insurance companies may take into account the driver’s age, credit score, ZIP code, gender, driving history, vehicle make and model, and several other factors. . Some states don’t allow auto insurance companies to use certain factors unrelated to your driving record, so check your state’s laws to see if things like your credit score will affect your rates. The average car insurance rates for a GT-R below are based on a 40-year-old sample driver with a clean driving record, good credit, and 12,000 annual mileage. Although your individual premium will vary, the following rates may be helpful for comparison.
average annual car insurance premium for a nissan gt-r
cheapest car insurance companies for nissan gt-rs
average nissan gt-r rates vary by auto insurance company. When looking for the best insurance for your GT-R, you may want to start your research with the companies below, which are part of our list of the best auto insurance companies. while the following rates may be useful for comparison, please note that your individual rates will vary based on your personal characteristics. You may want to compare auto insurance quotes from several of these companies to see how much you’ll actually pay. It’s easy to request free auto insurance quotes online from most major insurers. We’ve organized our list by cheapest full coverage auto insurance rates: If you have a loan on your GT-R, you’ll be required to purchase full coverage. Even if you don’t have a loan, most insurance experts recommend full coverage auto insurance to better protect your investment.
other car insurance coverage for nissan gt-r
The average minimum coverage auto insurance rates for Nissan GT-R drivers are slightly lower than the national average. With the exception of New Hampshire and Virginia, all states require their drivers to have at least the minimum state car insurance requirements. Even in Virginia or New Hampshire, you’ll need to pay an annual fee to the state or meet certain financial responsibility requirements before driving without insurance.
Buying the minimum amount of car insurance required in your state can be tempting, as minimum coverage is often significantly cheaper than full coverage insurance. however, most insurance experts caution against purchasing minimum liability insurance. Since the minimum limits required are often very low, it is possible that you could be involved in an accident that exceeds your policy limits. in this situation, you will be responsible for paying the remaining damages out of pocket.
Think, for example, of a California driver with minimum state coverage, which is 15/30/5. that means $15,000 for injuries to one person, $30,000 for total injuries per accident, and $5,000 for property damage. If this driver was in an accident with another car worth $30,000 and that car was totaled, his insurance would only cover the first $5,000 of that cost; he would be responsible for the other $25,000.
Because liability insurance does not cover damage to your own vehicle, you may want to consider additional coverage options. The following types of coverage can help you better protect your finances in the event of damage to your car.
collision coverage
Collision insurance pays if your vehicle needs to be repaired or replaced after an accident. If your Nissan GT-R is damaged and the other driver is at fault, your collision insurance can help cover the damage to your vehicle while you wait for the other driver’s insurance to pay.
comprehensive coverage
Not all vehicle damage comes from car accidents. Comprehensive coverage pays to cover damage from things like theft and vandalism or a tree branch falling on your car. In other words, comprehensive coverage pays for damages incurred outside of a car accident.
Like collision coverage, comprehensive coverage includes a deductible. our sample drivers for our average nissan gt-r auto insurance rates had comprehensive deductibles of $500.
uninsured motorist coverage
While drivers in your state should probably have liability coverage, the Insurance Information Institute (Triple-I) estimates that about 13% of drivers lack the liability insurance required in their state. Technically, you could sue a driver for damages they cause to your Nissan GT-R, but uninsured motorist coverage saves you from the headache of a legal battle. instead, if the at-fault driver is found to have no car insurance, he steps in to cover the resulting expenses (up to his policy limits).
There are two types of coverage for uninsured motorists: bodily injury and property damage. if you want protection for your own gt-r, you need the latter.
if you drive a luxury sports car like a nissan gt-r, you may want all of these optional protections. Additional coverage will increase the cost of car insurance for Nissan GT-R drivers, but it will also help you avoid the potentially massive expense of replacing a stolen or wrecked GT-R.
differential insurance
You paid a lot of money to buy your Nissan GT-R and you may have taken out a loan to buy it. But what if your car is totaled or stolen and its actual cash value (ACV) is less than the amount you owe on the loan? It’s very easy for this to happen, as the value of a new car drops rapidly once you take it off the lot.
So, let’s say your Nissan is destroyed in an accident in which you assume fault, and your ACV is determined to be $85,000. The problem is that you still owe $90k on the car loan. If you have gap insurance, it will help pay the $5,000 difference between the car’s value and what you owe, so you can pay off the loan with no out-of-pocket costs.
rental car coverage
This optional coverage is self explanatory. If you are in a situation where you cannot drive your car, such as if you were in an accident, rental car coverage will pay a certain amount per day for a rental car. this is different from having insurance on a rental car that you, for example, borrow to take on vacation. This option covers you only if your car becomes undrivable due to a covered loss. There will be limits on how long you can use the car and what type of car you can rent, but it can help offset costs if your car isn’t available to use.
methodology
bankrate uses quadrant information services to analyze 2021 rates for all zip codes and carriers in all 50 states and washington, d.c. Rates quoted are based on a 40-year-old male and female driver with a clean driving record, good credit, and the following total coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury liability per person
- $300,000 uninsured motorist bodily injury per accident
- $500 deductible per collision
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverages that meet each state’s requirements. our base drivers own a 2019 nissan gt-r, commute five days a week and drive 12,000 miles a year.
These are sample rates and should only be used for comparison purposes.
