Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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The lowdown...

  • Sports cars do come with higher insurance premiums due to the driving habits of owners and more expensive repairs
  • Numerous steps and options can be explored to bring down insurance premiums
  • Comparison shopping might reveal lower rates than initially expected

Sports cars come with the following benefits:

  • The models look both stunning and sleek.
  • Sports car drivers can lay claim to the status symbol associated with one of these awesome vehicles.
  • The cars can drive fast thanks to their incredible horsepower.

With all the positives associated with sports cars, it is no wonder so owners are willing to pay incredible sums to own one.

Few drivers like to pay a great deal of money on car insurance, though. Even when the insurance policy provides all the valuable and desirable coverage the driver requires, concerns might exist about paying huge premiums.

This cost is why comparison shopping is so important. Searching through a variety of quotes may lead to getting a great rate even for a fast car. Enter your zip code right here to begin comparing quotes right now for free.

Does it always cost a lot of money to insure a sports car? The answer depends on the driver’s record, the amount insurance sought, and other aspects.

The Horsepower Catchall

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Again, a car with massive horsepower can drive down the highway enormously fast. This speed is what insurance companies are afraid of.

A driver who is traveling down highways at a fast rate of speed is someone who is at a great risk for an accident. People who buy extremely fast cars generally don’t go 40 in a 50 mph zone.

This is not to say sports car drivers are automatically reckless. Someone who has been driving a sports car for 10 years and never received any traffic tickets is doubtfully a hazardous driver.

Still, the potential for a sports car to go faster than normal cars along the propensity for sports car owners to drive at high rates of speed causes premiums to be a little costly.

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Costly Cars Mean Costly Repairs

Collision and comprehensive insurance are designed to cover the costs of repairing a vehicle damaged in some kind of accident. A $75,000 car is not exactly made with cheap parts.

Repairing the vehicle could end up being expensive. The insurance policyholder with a $500 deductible is getting an awesome deal on a $3,000 repair bill covered by the insurance company.

The insurance company probably won’t be too enthusiastic about paying out significant money for repairs.

To cut down on losses, insurance companies charge more on premiums than they would with an economy vehicle.

Certain models may require specialized expertise to fix. Even when the insurance company mandates a certain garage, the insurance company might not be able to find many choices on who to take the vehicle to.

Sleek Means More Movement

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Sports cars are not exactly like the big and heavy cars of the 1950’s. The models definitely aren’t as bulky as popular modern SUVs. Sleek sports cars are lighter and easier to move.

They could, potentially, change lanes without much of a problem. Whether or not the lane change is a safe one when not seen by a police officer is debatable.

Moving in and out of lanes increases the chances for an accident. Insurance companies do not assume everyone who drives a sports car is going to make ill-advised lane changes or be impatient on the road, but the companies aren’t going to take any chances.

Policies end up being increased to cover the added risk and potential troubles.

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The Eye of the Thief

Is it any surprise that car thieves are going to target a sports car for theft?

Flashy-looking cool cars might be hard to pass up when a car thief is on the prowl. Choosing between a sports car and an aged compact car is hardly a choice.

Sports car parts are expensive, remember? Stealing a sports car for its parts is a commonplace criminal activity. Sports cars are worth money to thieves and criminal networks.

Anyone who owns a sports car, positively, should purchase comprehensive insurance to guard against theft.

On the surface, all this sounds as if finding cheap insurance is going to be difficult for a sports car driver. Honestly, they may be simple ways to bring down the costs associated with even the best policy.

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Taking a Defensive Driving Course

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Sports car insurance may be inexpensive. Defensive driving courses usually are not. Some of these courses may even be completed online.

Upon receiving a certificate for completing the course, insurance rates may drop. Check with the insurance company to be sure they offer a defensive driver discount and would apply it to the car currently being insured.

Examine Bundled Policies

Major insurance companies likely offer more than auto insurance policies. Boat, motorcycle and homeowner’s insurance may be available.

Those capable of bundling their insurance policies for a lower right might wish to think about doing so. Quite a bit of money could end up being saved as through exploring combined policy options. Such policies could even expand liability coverage.

Explore Usage-Based Insurance

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Usage-based insurance (UBI), also known as pay how you drive (PHYD) insurance, might be able to lower insurance rates based on logging various stats about how, when and where the driver chooses to drive.

Telematic systems could prove, based on recorded data, the person driving the sports car is both safe and careful. Remember, many of the added premiums costs are based on assumptions about how the “average sports car driver” performs on the road.

Proof that the driver is not prone to speeding or committing other moving violations could very well drop costs.

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Find a New Insurer

Sticking with the same insurance company year after year may lead to price breaks and discounts. If the insurance company is not cutting any reasonable deals or rate cuts, then it may be time to move on.

There are many insurance providers serving the 50 states. Go with the one that treats its long-time customers better.

Owning a sports car comes with added costs related to the following:

  • Fuel economy
  • Maintenance
  • Insurance

Still, there are ways to cut down on those costs. Comparison shopping may be the simplest and the most effective. Enter your zip code below to begin shopping right now.