Originally Posted by henrikc
This is probably not the case in the US, but at least in Norway (and I reckon in the UK as well), insurance price is based on, but not limited to:
- Car model - if it's a popular model, often represented in crashes, it's going to push the price up
- Previous accidents
- Where it's usually stored
- How long you want to drive each year
- List price
So for an expensive and powerful car, with a young driver, it's going to skyrocket. Â£20k seems high though, but if he has a bad track record it's actually too excessive for those two cars.
I heard a story about a guy who had an older Ferrari. Insurance was pretty cheap - it was about 10 models or so in the entire country, and he paid the equivalent to a medium sized sedan - think Audi A4. Unfortunately, one of the other owners had an accident and had to use his insurance to cover it, and the next year the bill was quadrupled.
Insurance is about the same everywhere, except that the US differs from Europe in the fact that rarity would cost you more in the US, whereas it can sometimes cost you less in Europe, as you said. In the US they'd charge you for the risk incurred on a rare car that would be expensive to repair/replace.
For example, you could buy one of those turnkey hi-po builder cars (Alpina BMW, Brabus MB, etc) and in Europe the insurance would cost less due to rarity/risk of being stolen I guess. In America, good luck having one of those cars, they would probably be defined as exotics.
FWIW 20,000GBP is insane for an Audi, any Audi, maybe barring a V10 R8 or something. When I was in high school, with a bad driving record (two totals on cheap cars within a year and some speeding tickets) I won some scholarships to college that added up to a full ride, and so my dad told me I could use some of what was going to be my college funds to buy a car I wanted, we'd made that deal quite a while back, despite my driving record previously. For shits and giggles, I got insurance quotes on a lot of cars; needless to say, many insurance companies would not insure me unless it was a mundane compact or something, but I did get quotes on things like Supra turbos, old air cooled 911's, NSX's, BMW M cars, etc - most of those were gonna be $5-10K, I think the Porsche was gonna be $12K/year, given my awful driving record and the fact I was 18. Ended up getting a BMW 540i, and insurance was less than a Civic (this was when Civics were about guaranteed to be stolen from you)...
I had a friend in college who had a Supra turbo; I don't remember what his insurance was but it was in that $5-10K range as well, he was 19 or something. He also had a bad driving record, and had totaled a new Lexus before for a large claim (like $40-50K)...
so.... $30,000USD/year for an RS5 sounds pretty high to me :P