Comparing Japanese luxury automakers Infiniti, Lexus and Acura: Which is the cheapest to insure?
by Andrew Evans | Automobile.com | 7/13/2012
Much is made of the domestic Big Three automakers which consist of Ford, General Motors and Chrysler. As we outlined in a recent comparison survey, each manufacturer competes closely and enjoys a passionate fan base. Similarly, there are three manufacturers in Japan that dominate auto sales. Toyota, Honda and Nissan are not only extremely competitive but also feature distinctive luxury arms that also compete.
Lexus (owned by the Toyota Motor Corporation) is Japan's top selling luxury automotive company. Acura (owned by the Honda Motor Company) and Infiniti (owned by the Nissan Motor Company) follow closely to round out the top Japanese luxury vehicle spots. Our latest commissioned survey examined the cost to insure these luxury vehicles.
Those who drove Infiniti vehicles reported paying the lowest average amount at $958.28 each year. Lexus drivers reported paying an average $981.30, which is a statistically insignificant amount when compared to Infiniti. On the other hand, Acura drivers reported paying significantly more to insure each year at $1184.06 or 24% higher than Infiniti and 21% higher than Lexus.
Surprisingly, vehicle age did not seem to play a role in the above-mentioned cost disparity. Policyholder age, however, was significant when comparing Lexus to the other two automakers. The average age of a Lexus respondent was approximately 52.61 years old while Acura and Infinity were considerably less at 44.64 and 44.35 years old, respectively. This suggests that policyholder age is less of a determinant in this specific comparison, as Acura is the most expensive brand to insure but is statistically equal with Infiniti in terms of policyholder age.
Further complicating Acura's average insurance cost disparity is the similar depreciation ratings. According to ALG, an organization that specializes in automotive residual values, all three companies compete closely on the higher end of the ALG Depreciation Ratings report. AutoWeek reports Acura vehicles are more costly to insure than competitors due to the expensive replacement parts. Car insurance companies often assign higher premiums to specific models such as Acura's RL that have a higher MSRP. Replacement costs are routinely higher on vehicles such as this.
If you own a model from any of these companies or are looking to purchase one, we recommend you compare insurance quotes to ensure you are receiving (or will receive) the best rate. Insurers often differ from one another when calculating the cost to insure, so it is wise to use an unbiased source such as Automobile.com that allows you to compare the quotes of several companies side-by-side for a better perspective.
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