How Much Does It Cost to Insure a Dodge Challenger?
Last Updated on September 24, 2023
It costs $1,604 per year for full coverage car insurance on a Dodge Challenger, on average.
In comparison, the average American pays around $1,450 per year for car insurance, which makes the Dodge Challenger relatively expensive to insure. However, Dodge Challenger auto insurance rates vary widely based on trim, location, and the value and age of the vehicle, among other factors.
Keep reading to find out everything you need to know about the cost of insuring a Dodge Challenger.
Table of Contents:
- Average Dodge Challenger Insurance Cost
- Factors Impacting the Price of Dodge Challenger Insurance
- Best Insurance Company for Dodge Challenger Owners
Average Dodge Challenger Insurance Cost
Based on our insurance research, it costs approximately $1,604 per year to insure a Dodge Challenger.
To calculate this number, we compared quotes from all 50 states across the last 10 model years of Dodge Challengers. We used multiple model driver profiles – including younger, higher-risk drivers and older, lower-risk drivers. After compiling all of these estimated quotes, we determined it costs around $1,604 per year for full coverage car insurance on a Dodge Challenger.
Some companies charge significantly less for Dodge Challenger insurance. USAA, for example, tends to be one of the cheapest insurers for Dodge Challenger owners (assuming you qualify for USAA membership). GEICO and State Farm also tend to offer affordable Dodge Challenger insurance.
By comparing quotes across multiple companies, you can find the best Dodge Challenger insurance for your unique needs.
Factors Impacting the Price of Dodge Challenger Insurance
Insurance companies consider hundreds of factors when calculating the price of insurance. Insurers care about risk, and they want to determine the risk of you making a car insurance claim in the near future.
Because of risk-related factors, a Dodge Challenger owner in Miami may pay significantly higher rates than a Dodge Challenger owner in Boise. Florida tends to have higher insurance premiums, while Idaho tends to have lower car insurance premiums.
Other factors impacting the price of car insurance on a Dodge Challenger include:
Insurance Limits & Coverage Levels: Some Dodge Challenger owners buy full coverage car insurance with $1 million or more in liability coverage. Other owners buy a minimum liability plan, trading higher risk for lower premiums. The average minimum liability insurance for a Dodge Challenger costs around $900 per year, which is nearly half the price of a full coverage policy.
State Insurance Laws: Some states have strict insurance requirements and high minimum insurance requirements. Other states have no-fault insurance systems or tort insurance systems. Because of state differences, the average Dodge Challenger owner in Michigan pays over $2,800 per year for full coverage car insurance, while the average Dodge Challenger owner in North Carolina pays under $1,500 per year.
Annual Mileage: Do you commute to work in your Dodge Challenger? Or do you drive your Dodge Challenger on weekends in the summer? Depending on your annual mileage, you could pay significantly higher or lower rates for car insurance.
Driving History: Insurance companies pull your driving record to calculate premiums. Drivers with a clean record pay less for car insurance than drivers with speeding tickets, at-fault accidents, and other incidents on their record. In fact, having a single at-fault accident on your record could increase Dodge Challenger insurance premiums by 50% or more. Even a single speeding ticket can increase premiums by 20%.
ZIP Code: Your ZIP code influences car insurance premiums. Insurers want to know the ZIP code where your car will be parked most nights of the week. Some ZIP codes have higher rates of vandalism and vehicle theft. Other ZIP codes have high accident rates and population density. Generally, Dodge Challenger owners in rural areas pay much less for car insurance than Dodge Challenger owners in urban areas.
Model Year & Vehicle Value: The model year of your Dodge Challenger influences the vehicle’s value. Generally, it’s cheaper to insure a 10-year-old Dodge Challenger with 100,000 miles than a 2-year-old Dodge Challenger with 20,000 miles. Newer vehicles are worth more, so your insurer is taking a higher risk. You could pay as little as $1,100 per year for full coverage car insurance on a 10-year-old Dodge Challenger. Or, you could pay over $2,200 per year for a brand-new Dodge Challenger. The Dodge Charger, a similar vehicle from Dodge, has insurance rates in the same ballpark.
Age: Teenagers are the riskiest drivers to insure. Teenage drivers are especially risky to insure when driving a Dodge Challenger. You could pay over $6,000 per year, according to our research, to insure a Dodge Challenger at 16, 17, 18, or 19 years of age. As you get older and maintain a clean driving record, your rates should continue to drop.
Insurance Company: USAA customers pay around $1,302 per year for full coverage Dodge Challenger insurance, on average, according to our research. In comparison, companies like Nationwide, Progressive, and Allstate charge around $1,600 to $1,900 per year. Some insurance companies welcome Dodge Challenger drivers to their insurance pool with lower rates, while others charge comparatively high rates. That’s why it’s important to shop around.
Best Insurance Company for Dodge Challenger Owners
If you want to insure a Dodge Challenger without overspending, then there are plenty of good options available today.
Based on our research, certain insurance companies regularly rose to the top, charging cheaper-than-average car insurance premiums for Dodge Challengers.
The best insurance companies for Dodge Challenger drivers include:
Final Word – Dodge Challenger Insurance Cost
It costs more to insure a Dodge Challenger than an average vehicle. However, by shopping around and comparing quotes, you can pay the cheapest possible rates for full coverage car insurance on a Dodge Challenger.
In fact, according to our research, the average Dodge Challenger owner in the United States pays around $1,604 per year for car insurance. Some Dodge Challenger owners pay significantly less.
To find out how affordable your Dodge Challenger insurance premiums can be, compare quotes online today.
