The cost to insure a $100,000 car-Not as much as you might think

Have you ever seen a car, like an Aston Martin (007's favourite car maker) or a Dodge Viper, drive by and think to yourself that you probably couldn't even afford the insurance on a car like that? You might be surprised to learn that the rates on these cars are surprisingly affordable, even if the car is not.

Expensive rides, reasonable rates?

Just for fun, online car insurance quotes* were obtained for a fictitious driver in Toronto on Kanetix.ca to see how much it might cost to insure a 2008 Aston Martin Vantage Roadster and 2008 Dodge Viper. Incredible cars to be sure, they range in price from a modest $100,000 to about $125,000.

So what about the insurance? Well, the lowest insurance quote for the Aston Martin came in just over $2,030 per year and $2,380 for the Dodge Viper. The insurance on these cars is surprisingly more affordable than you would have thought, isn't it?

Of course these were the lowest quotes, however a whole range of quotes were obtained and the highest quotes might be more in line with what you think these cars typically insure for: almost $3,950 for the Aston Martin and just slightly over $3,300 for the Dodge.

Why so reasonably priced?

Part of the reason these rates might seem so reasonable is because of our driver. Our 35-year-old fictitious driver has an impeccable driving record; no accidents, no tickets, no claims of any kind. Add to this scenario over 15 years of driving and insurance history and you have the ideal driver to be seated behind the wheel of one of these cars.

That isn't to deny of course that these vehicles are rated higher than most you'll find on the road. But ask yourself, if you owned one:

• Where would you park it?
• How carefully would you drive?
• How often would you drive it?
• Would you drive it all year round?

Chances are you would take every precaution. You would likely park it in a secured, private garage; take special care while driving it; reserve its use for special occasions (no grocery store runs); and it would likely never see anything that closely resembled precipitation (rain or snow.)

No matter what you drive, never overpay for insurance

Of course, most people who can afford to own one of these cars can also afford the insurance to drive it. But smart drivers - no matter what they drive - make certain they don't overpay for their insurance coverage. After all, you can see how much being with the wrong insurer can cost you; there's an over $1,900 difference between the lowest and highest quote for the Aston Martin and about a $920 difference for the Dodge Viper.

Compare auto insurance rates today from competing insurers to make certain you're paying the lowest rate you can for the wheels you drive.

* Quotes were obtained on August 25th , 2008 and include both collision and comprehensive coverage with deductibles set to the highest available amount for an Ontario quote through Kanetix.ca. Insurers, however, may require higher deductibles for these high-valued vehicles which would actually decrease the rate quoted.