The Cadillac Lyriq is the luxury marque’s first full-production EV, offering a combination of cutting-edge technology and all the traditional Caddy-style comfort. Now, GM Authority is taking a closer look at the Cadillac Lyriq with regard to insurance premiums, comparing the crossover to some of its direct rivals.
For this particular comparison, we’ve collected data on insurance premiums for the 2023 Cadillac Lyriq and two of its direct all-electric crossover rivals, namely the 2022 Audi e-tron quattro and the 2022 Tesla Model Y. To round it out, we also added insurance premium data for the internal-combustion-powered 2022 Cadillac XT5, just to see how a non-EV model would stack up.
The quoted insurance premiums were all sourced from the same insurance company, and are based on a 35-year-old man with a clean driving record living in South Florida.
Looking over the data, we find the 2023 Cadillac Lyriq quoted at $229.98 for a monthly premium, or $1,379.86 for six months. Meanwhile, the 2022 Audi e-tron Quattro was quoted at $231.52 for the monthly premium and $1,389.10 for the six-month premium, and the 2022 Tesla Model Y was quoted at $254.32 for the monthly premium and $1,525.90 for the six-month premium. The outlier of the group, the 2022 Cadillac XT5, was quoted at $203.75 for the monthly premium, and $1,222.50 for the six-month premium.
|Model||Six-Month Premium||Monthly Premium|
|2023 Cadillac Lyriq||$1,379.86||$229.98|
|2022 Cadillac XT5||$1,222.50||$203.75|
|2022 Audi e-tron quattro||$1,389.10||$231.52|
|2022 Tesla Model Y||$1,525.90||$254.32|
The clear takeaway here is that in terms of insurance premiums, the 2023 Cadillac Lyriq is very close to the 2022 Audi e-tron Quattro. The Lyriq is also less expensive than the 2022 Tesla Model Y, and around $25 more expensive per month than the 2022 Cadillac XT5.
As a reminder, the 2023 Cadillac Lyriq Debut Edition features GM Ultium battery technology and GM Ultium drive motor technology for motivation, the combination of which produces 340 horsepower and 325 pound-feet of torque for the rear axle. Under the skin, the Lyriq rides on the GM BEV3 platform, while production takes place at the GM Spring Hill plant in Tennessee.