The type of car you own is one of the factors that determines your car insurance premiums. Someone who drives a sports car will pay more for car insurance than someone who drives a simple family sedan. Not all sports cars are created equal. Let’s take an in-depth look at car insurance for sports cars.
How Does an Insurance Company Determine a Car is a Sports Car?
If it looks like a sports car, acts like a sports car, and smells like a sports car…chances are an insurance company will determine your car is a high-performance vehicle or sports car. Sports cars have sleek bodies, powerful engines, and are typically more expensive than standard vehicles.
Sports car insurance premiums are determined by a variety of factors. Some factors are things you cannot help, such as your gender, age, and where you live. Younger male drivers will pay more for sports car insurance than older male or female drivers. This is because statistically a young male driver is more likely to have an accident than someone in another class of drivers. Where you live affects your sports car insurance premiums because those in higher traffic areas will be more likely to have a wreck than someone living in a remote area.
Factors such as your driving record affect your sports car insurance premiums. The cost of insuring a sports car is expensive for someone who has at-fault accidents and speeding tickets on their driving record. An insurance company realizes that people don’t usually change their ways. Someone who speeds or doesn’t pay attention to what they are doing are far more likely to have accidents that will cost the insurance company money.
Typically, an auto insurance company will charge more to insure a sports car that is more expensive to fix. The more expensive and specialized the car, the higher the premiums will be. This is understandable because the insurance company will be on the hook for more money should you have a wreck or incur some other form of loss.
According to Bankrate.com, the following sports cars were among the 10 most expensive cars to insure: Mitsubishi Lancer Evolution, Jaguar XK (convertible), Honda S2000, Nissan 350Z, and Jaguar XJ. All of these vehicles are sports cars. Of the 10 least expensive cars to insure, none were sports cars.
The least expensive sports cars to insure, according to Autos QandAs are: Mitsubishi Eclipse Spider, Scion tC, Saturn Sky, Honda Civic SI, and the Ford Mustang. If you want a muscle car that is sleek, sexy, and sporty you should consider one of these vehicles.
Driving a sports car is a lot of fun. Sports car aficionados know that insuring a sports car is no easy task. Making sure you keep a clean driving record and selecting a sports car that isn’t one of the most expensive sports cars to insure will reduce your sports car insurance premiums.
