The allure of luxury automobiles will never fade. Everyone on the street can be turned around by the gleaming and sleek exteriors. 

The engine’s roar is distinctive, and even without looking at it, you can know it’s a high-end vehicle.

However, all of these cherished qualities must be safeguarded. You should also keep in mind that luxury cars are not immune to the dangers and strict restrictions of the road. As a result, you must obtain automobile insurance.

You’re a luxury car owner, so you’re well aware that each unit necessitates greater premiums. Whether you’re getting your first insurance or preparing to acquire a new one, you should research your alternatives before signing anything.

This page will provide you with a list of the most costly automobiles in the Philippines, as well as the costs of their insurance premiums. Who knows, your car could be waiting for you.


Philippines’ Most Expensive Cars to Insure


Lexus LS 500

PHP 188,539 (2021 LS 500 3.5L Gas A/T) Annual Car Insurance Premium.

The Lexus LS 500 is a luxurious vehicle that embodies all that is good. Since 1989, the LS series has undergone numerous revisions, and it continues to improve with age. The current version can accommodate up to five passengers, making it an excellent family transport. 

It has a torque of 600 Nm and a power of 415 hp, proving that strength and performance can also be attractive.


Mercedes-Benz SL-Class 350

Premiums for car insurance range from PHP 143,621 to PHP 203,645 per year (2021 SL-Class 350 3.5L Gas A/T).

With a price tag of PHP 6.7 million, it’s no surprise that the annual insurance cost for this exquisite roadster will exceed PHP 200,000, making it the most expensive on the list. This two-seater automobile is ideal for an open-air journey in the city or in the countryside. Its engine produces 302 horsepower, making it more powerful than it appears.

It has a top speed of 250 kilometers per hour, so if you want to go fast, this is the car for you.

Mercedes-Benz SL-Class 350


Nissan GT-R

2021 GT-R Premium 3.8L Gas A/T Annual Car Insurance Premium: PHP 177,316.

In a list dominated by BMWs and Mercedes, Nissan may appear to be the odd man out, but it does have a model with a high insurance cost. The GT-car R’s insurance is more than PHP 170,000, making it the most costly Nissan to insure.

The GT-R has a strong twin-turbocharged V6 engine that produces 562 horsepower, a sumptuous cabin, and a slew of modern technology features, so this isn’t surprising.

Nissan GT-R


Land Rover Range Rover Sport

2021 Sport HSE 3L Diesel A/T Annual Car Insurance Premium: PHP 183,838.

In the Philippines, Land Rovers are among the most expensive vehicles to insure. The Range Rover Sport, a luxury midsize SUV with a dynamic design, ultra-comfy interior, and excellent engine performance, takes the lead. 

Despite the fact that this car costs PHP 9.9 million, its insurance is less expensive than the other cars on this list. It has a yearly premium of about PHP 183,000, which translates to around PHP 15,000 per month.

Land Rover Range Rover Sport


BMW X5 xDrive30d

Annual Car Insurance Premiums: PHP 136,369 to PHP 176,842 (2021 X5 xDrive30d M Sport 3L Diesel A/T) (2021 X5 xDrive30d M Sport 3L Diesel A/T).

The X5 is one of BMW’s best-selling luxury crossovers. Many people are captivated by its sharp yet elegant appearance. 

Others, on the other hand, are more concerned with its muscularity and utility. Because the X5 xDrive30d is equipped with an engine that can produce up to 265 hp of power and 620 Nm of torque, every ride is powerful yet smooth.

It also has plenty of entertainment options, including a touchscreen console and front and rear speakers. The car’s spacious interiors can accommodate your family or your road trip requirements, making it an excellent choice for folks who frequently travel with others or for weekend warriors who enjoy driving to the countryside.


BMW 7 Series 730i

Premiums range from PHP 120,018 to PHP 170,033 each year (2021 7 Series 730i Pure Excellence 2L Gas A/T).

Anyone who believes sedans can’t be sporty hasn’t seen a BMW 7 Series. Its sportiness is combined with understated luxury, making it a tough car to overlook. 

Inside, you’ll find a stand-alone infotainment system that uses an enhanced version of the iDrive technology.

Passengers in the back can also operate several vehicle features thanks to a 7-inch control panel tablet installed in the back portion. Passengers can use this to manage the air conditioning, ventilation, cooling, side windows, sunroof, and even the massaging function in the automobile. 

BMW 7 Series 730i


Lexus RC

Premiums for car insurance range from PHP 110,954 to PHP 157,126 per year (2021 RC F Carbon 5L Gas A/T).

The RC F coupe is the most expensive Lexus model to insure. Lexus is Toyota’s luxury car subsidiary. From the dual zone auto air conditioning system to the Mark Levinson audio system with 17 speakers, the four-seater luxury car is equipped with a five-liter V8 engine and technologies that make the trip truly entertaining and comfortable. It also has keyless entry, power windows, and electric adjustable seats.

Its annual insurance premium is between PHP 110,000 and PHP 150,000+, with a price tag of PHP 5.7 million. This means you’ll have to pay a monthly fee of between PHP 9,000 and PHP 13,000 every month.


What Factors Influence the Cost of Car Insurance?

The cost of your motor car insurance is influenced by a number of factors. You’ll be able to control some of them, but you won’t be able to control others. 

Knowing what factors influence your insurance prices might assist you in selecting the best insurance plan for your vehicle.


Personal Factors

Your insurance rate is heavily influenced by your demographics, particularly your credit score. Some demographic statistics are also used by some, if not all, banks and loan institutions.

  • Driving history
  • History of a claim


Factors Related to Vehicles

Of course, the type of vehicle you insure has an impact on your overall insurance rate. Is the car ancient, or do you have trouble finding or obtaining parts for it? Is it a brand-new car with low-cost, easy-to-find parts? These are some of the factors that are taken into account:

  • Age of the vehicle
  • Size
  • Fair market value
  • Make and model of the vehicle
  • Type of vehicle (sedan, SUV, AUV, etc.)
  • Safety ranking for automobiles


Last Thoughts

The relationship between the cost of an automobile and the cost of insurance is straightforward. If you possess a high-value vehicle in the Philippines, you might expect a high insurance premium, owing to the vehicle’s possibly high repair expenses. Parts for luxury cars can be difficult to come by and may have to be ordered from another country.

Even if you raise your deductible, have a clean driving record, and take other steps to reduce your vehicle insurance costs, you’ll still have to pay high rates to secure your costly investment.

However, insuring a luxury vehicle (no matter how expensive it is) is less expensive than not having insurance and having to pay substantial repair fees on your own in the event of an accident. Even though a car is fundamentally expensive to insure, annual rates can be reduced by thousands of pesos.


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