How Much Does It Cost to Insure a Dodge Charger?

The muscle cars of the 60s and 70s were fun to own and drive and were popular choices for car enthusiasts. The cost of fuel and environmental concerns ended the production of most of these gas-guzzling beasts in the 80s. With improved technology, many of these classics are back in production, with better fuel efficiency and all the power of the old days. The Dodge Charger made its return in 2006 and is one of the best-selling American muscle cars of today. These high-performance vehicles are expensive to own and operate. Auto insurance can be costly. You may be wondering what it would cost to insure a Dodge Charger.

Average Cost of Insurance for a Dodge Charger

As a high-performance muscle car, the average insurance cost for Dodge Charger is higher than for the average vehicle. Insurance rates vary from state to state and also with the age and driving record of the person buying insurance. Which trim package your Charger has will also impact rates. A 30-year-old male driver with a 2019 Charger STX and living in a large city will pay an average of $4,792 per year. The payments come to about $399 per month. The GT model, which has more horsepower and is thus faster, has a higher average annual cost of $4,896. Older models have a lower Blue Book value and insurance rates are lower. For example, a 2014 Charger STX has an average cost of $4,011 per year.

Comparison of Charger Insurance Rates to Other Muscle Cars 

The Dodge Charger is unique in that it is the only four-door muscle car sedan on the market. Because of this, average insurance costs tend to be higher than those for other muscle cars. Two other popular muscle cars, the Chevrolet Camaro and Ford Mustang are both less expensive to insure.

Using the same 30-year-0ld male large city resident, a 2019 Camaro 1SS would have a slightly lower average annual insurance cost of $4,675. That is only $117 less per year and $9 less per month than the Charger.

The Ford Mustang has significantly lower rates. A 2019 model owned by our average driver will cost on average $4,378 per year to insure. This is $414 less per year and $35 less per month than the average Charger rate.

Things to Consider Before Buying a Dodge Charger

Just as with any other vehicle, there are multiple budget factors to consider when choosing a Dodge Charger. Monthly car payments, fuel, and maintenance costs are important. When it comes to insurance, do your research. Compare quotes from different companies. Older drivers will pay lower rates as will drivers with a sterling record. Gender and marital status also impact rates. Actuarial tables use all of this data to determine the risk of the driver having an accident.

If the rates for a new vehicle are too high for your budget, consider buying a pre-owned vehicle. Have a mechanic look at any used car you may be considering. Also, think carefully about which trim package you buy. The GT might seem like a fun car to own but do you really need 700 horsepower to get around?

Muscle cars are fun vehicles and the Dodge Charger is one of the most popular. High-performance cars will always be more expensive to insure. Before buying a Charger, consider all of the variables that can affect your rates and make the best choice for you and your budget.

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