From start to finish, the Dodge Charger is going to cost you more to own, even if you go with the more affordable sedan model. The Charger also has twice as big an engine, sporting a 5.7L V8, so it is not surprising that everything about the car is going to cost more, including the cost to insure it. The Camry is a fine and appealing car, but it does not have the sportiness of the charger, and that sportiness is one of the factors which makes the Charger more expensive to insure.
When you calculate the insurance over a 5 year car loan, The Toyota Camry costs around $2149 annually and $10757 over the 5 year total. This is a great deal less than the $2599 annual Charger insurance, which adds up to an impressive $13,010 over 5 years. The same is true for other comparison factors, including maintenance, fuel, and repairs. Every aspect of the Charger will cost you a bit more and contributes to a higher total insurance cost.
When determining the rates for auto insurance, one of the factors that must be considered is not only how well the car is rated for safety, but how safe the driver of the car is expected to be. With a car such as the Toyota Camry, the car looks good and handles like a dream, while a Charger lends itself to the idea of driving fast and taking chances on the road.
If your driving record is less than perfect, a car like the Dodge Charger can cost a great deal more to insure. A great deal of your premium cost is based on things such as your driving history, your credit score, your CLUE report, and personal demographics that help the insurance company determine how much risk you pose car you are insuring. With everything else being equal, you would save money insuring the Camry because it would lower the risk of insuring you.