The Cost of Driving Like an Olympic Athlete

The car insurance rates for Olympic athletes vary depending on car type. Olympic athlete Brady Ellison pays $38/mo for a Dodge Ram while Olympic athlete Kevin Durant pays $386.59/mo for a Ferrari California.

Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: May 27, 2020

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According to historical records, the Olympics games date back to 776 BC. Dedicated to the Olympian gods, the Olympics were held on the ancient plains of Olympia. Spanning for nearly 12 centuries, the Olympic games came to a quick halt when Emperor Theodosius banned such pagan cults in 393 A.D.

Needless to say, a lot has changed since the end of the Roman Empire, but one thing remains the same. If you want to be an Olympic gold medalist, you need to possess a lot of talent.

The 2016 Olympic Games

From Ryan Lochte’s outlandish fabrications to pools turning the color of lime green Jello, the 2016 Olympic Games in Rio were packed with drama. But American athletes also strove to prove how capable they were of earning the highest accolades in their respective sports.

The 2016 Olympic Games were filled with surprising outcomes and impressive feats. Moments of incredible resilience, sportsmanship, and talent marked some of the most memorable events of this year’s Olympic games.

But what really goes into the making of an Olympian champion? What fuels their fire to be the best of the best? Are they born with the ability to withstand both physical and mental pressure or is it something they learned?

While climbing their way to the top, most athletes talk about chasing the nearly unattainable gold metal standards as they continue to push themselves to excellence.

Those fortunate enough to win an Olympic medal also earned cash prizes. Those who took home a gold medal from this year’s Olympics also pocketed $25,000; silver medalists were awarded $15,000 and bronze medalists won $10,000.

So after reaching the top — and winning a hefty sum — how do Olympians spend their rewards? Among other things, some of these athletes buy the nicest cars on the market.

Below is a list of top Olympians from 2016 with some of the hottest wheels on the market today (All estimated rates do not include any possible traffic violations and represent only the basic legal requirements – Athletes of their reputation should consider an Umbrella Clause):

Kevin Durant

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  • 2016 Medals: One Gold
  • Sport: Basketball
  • Age: 27
  • Marital Status: Single
  • Car: Ferrari California
  • Estimated Cost: $206,000
  • Estimated Annual Insurance Rate: $4,639

Nathan Adrian

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  • 2016 Medals: One Gold and one Bronze
  • Sport: Swimming
  • Age: 27
  • Marital Status: Single

nathan-adrians-bmw-x6

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  • Car: BMW X6
  • Estimated Cost: $62,000
  • Estimated Annual Insurance Rate: $984

Serena Williams

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  • 2016 Medals: None
  • Sport: Tennis
  • Age: 34
  • Marital Status: Single

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  • Car: Bentley Continental
  • Estimated Cost: $201,000
  • Estimated Annual Insurance Rate: $1,887

Michael Phelps

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  • 2016 Medals: Five gold and one Silver
  • Sport: Swimming
  • Age: 31
  • Marital Status: Married

A photo posted by Michael Phelps (@m_phelps00) on Jan 18, 2014 at 5:36pm PST

  • Car: Range Rover
  • Estimated Cost: $90,000
  • Estimated Annual Insurance Rate: $1,016

Aly Raisman

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  • 2016 Medals: One Gold and two Silver
  • Sport: Gymnastics
  • Age: 22
  • Marital Status: Single

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  • Car: Land Rover LR2
  • Estimated Cost: $22,000
  • Estimated Annual Insurance Rate: $1,140

Ryan Lochte

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  • 2016 Medals: One gold
  • Sport: Swimming
  • Age: 32
  • Marital Status: Single
  • Car: Rolls Royce Ghost
  • Estimated Cost: $298,000
  • Estimated Annual Insurance Rate: $3,329

Justin Gatlin

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  • 2016 Medals: One Silver
  • Sport: Track and Field
  • Age: 34
  • Marital Status: Married
  • Car: Maserati
  • Estimated Cost: $134,000
  • Estimated Annual Insurance Rate: $2,172

 

Lilly King

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  • 2016 Medals: Two Gold
  • Sport: Swimming
  • Age: 23
  • Marital Status: Single
  • Car: Mazda RX-8
  • Estimated Cost: $7,000
  • Estimated Annual Insurance Rate: $816

Carmelo Anthony

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  • 2016 Medals: One Gold
  • Sport: Basketball
  • Age: 34
  • Marital Status: Married

A photo posted by @carmeloanthony on Nov 7, 2015 at 8:46pm PST

  • Car: Jeep Wrangler
  • Estimated Cost: $31,000
  • Estimated Annual Insurance Rate: $1,032

Brady Ellison

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  • 2016 Medals: One Silver and one Bronze
  • Sport: Archery
  • Age: 27
  • Marital Status: Married

A photo posted by Brady Ellison (@bradyellison) on Jul 11, 2015 at 8:50am PDT

  • Car: Dodge Ram
  • Estimated Cost: $27,000
  • Estimated Annual Insurance Rate: $456

World’s Fastest Man: Usain Bolt

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  • 2016 Medals: Three Gold
  • Sport: Track and Field
  • Age: 30
  • Marital Status: Single
  • Car: Nissan GT-R
  • Estimated Cost: $111,000
  • Estimated Annual Insurance Rate: $3,194

The athletes of the 2016 Olympic games are amazing individuals who pushed themselves to unfathomable limits. Their determination and grit captivated audiences around the world, but they are not immune to the great equalizers of society, one of which being car insurance.

Regardless of the make and model of each car, almost all states require drivers to carry sufficient auto insurance.

One plus side of owning a less-expensive car than an Olympic athlete is that you will most likely also pay less to insure it!

Reward Yourself!

Enjoy a clip of the USA Olympic Athletes performing a little Car Karaoke.

References:

  1. https://www.history.com/topics/olympic-games
  2. https://www.cbsnews.com/feature/summer-olympics-2016-rio/
  3. https://www.nbcolympics.com
  4. https://www.caranddriver.com/bmw/x6
  5. https://www.caranddriver.com/bentley/continental-gt
  6. https://www.caranddriver.com/land-rover/lr2
  7. https://www.youtube.com/watch?v=iqM_Oncq8l0

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