Is there any difference between sports car insurance and regular sedan car insurance?

Marvin

Annapolis, MD

The difference between sports car insurance and regular sedan insurance depends really on who you ask. The car insurance companies define the classification of the vehicle type. They would be the one to set the standard as to which car you have: a family car, an SUV or a sports car. The usual basis for this decision is the Insurance Services Office vehicle identification number (ISO VIN) system or other car manufacturer’s proprietary ranking systems. All information regarding your car will be taken into consideration to determine the classification of your vehicle. Generally, if it looks, drives, and performs like a sports car, chances are that your car insurance provider will see it as such. If this is the case, the sports car insurance will be higher than a regular sedan car. This is because the maintenance cost of a high performance vehicle is larger than that of a regular family car; also, it is more likely for sports cars to meet accidents on the road because of speeding. Another thing to consider is loss. Check with your car insurance provider if the model and type of car you plan to purchase has a high theft rate. If it were more likely to be stolen, it would also be expensive to insure.

Why is it that sports cars cost so much to insure? Is there any chance at all to find cheap sports car insurance? I’ve been wanting to buy a 2 door BMW for a while now, but the sports car insurance prices are holding me back.

Travis

Las Vegas, NV

A fast ride in cool wheels is just about any guy’s dream. But it does come with costs-more powerful engines not only burn more fuel but also cost a lot more to insure. It’s not really that hard to see why sports car insurance come with higher price tags compared to your good old family cars or sedans. If you look at it from the insurer’s point of view, it boils down to simple logic. Because sports car parts are more expensive and usually cost more to repair, it would mean that the insurance company will have to shell out more cash in case a claim is filed against sports car insurance. The likelihood of theft is also higher with a sports car. Really, if you were a car thief, and you saw a station wagon and a Porsche in a deserted parking lot, which would you steal? So, insurance companies have to take into account the risk of theft and the cost it would take to replace the stolen vehicle. Driving accidents involving sports cars also tend to cost more. Sports car drivers like to drive fast, don’t they? So if an accident happens, it is probable that the damage would be greater, again costing more to repair.

But this is just all the more reason for you to do more research on sports cars and sports car insurance. Try to find the car which has higher safety ratings and lower liability risks and think of buying that car instead. Also a second hand car costs less and may reduce the amount of premium you pay. You should also try browsing online for car insurance companies that offer relatively cheap sports car insurance.

I have a very expensive car and I’d rather not mention what the type of sports car I’m driving. As what they say, the more expensive your car, the higher your sports car insurance rate will be. I’m paying so much on my car insurance right now. And I’d like to know what can I do to get lower my premiums?

Carl

Northwest Clackamas, OR

Getting sports car insurance always demands higher auto insurance rates. However, there are still a lot of factors that affect auto insurance premiums that are within your control. By taking into consideration these following factors, you may lower down you car insurance premiums:

Your age. How old are you? Don’t take it as a personal question. The reason why I’m asking you this is because the younger you are the higher you’ll pay for your sports car insurance premiums. Are you below 30 years old? If you are, then you may end up paying for higher car insurance rates. But you don’t have to worry, once you’ve reached the age of 30 years old, you’ll see a change on your auto insurance rates.

Also, you should get sports car insurance from a specialist auto insurance company. There are auto insurance companies that specialize in insuring high performance cars. You might want to consider getting a policy form them. Its better this way since you know you are paying your premiums to a company that knows how to handle your sports car in the best possible manner. Also, make sure you’ll be able to provide the specific detail of your sports car like if there were modifications made, if it was imported, or even whether you car is kit build or not. Having those information ready can reduce your car insurance premiums.

My boyfriend is expecting to receive a sports car on his birthday from his dad, a Ferrari to be exact. But, according to my friends and also from what I’ve read, insuring a sports car is very expensive. Is that true? Can you give me more idea about getting cheap sports car insurance for him?

Regina

Phoenix, AZ

Wow! That’s what you call a big and expensive birthday present that every man I know wishes for. Advance Happy Birthday to your boyfriend!

Well, now let’s go back to your question, it’s true and you heard it right. Insuring sports cars are expensive. One of the reasons is that it cost so much to repair those kinds of sports car. So let’s take a look on how your boyfriend can get cheap sports car insurance:

First, how is your boyfriend going to use his Ferrari sports car? Is it on a regular basis or not? The lesser time he uses his car, the lower his car insurance rates will be;

Second, what is your boyfriend’s age? The younger he is, the higher his sports car insurance rates will be;

Third, how about your boyfriend’s driving record? The more moving violations he has or had in the past, the higher his car insurance rates will be

Also, you must take in consideration on where your boyfriend will garage his car. But since his dad was able to buy him an expensive car like a Ferrari, I don’t think he’ll have a problem finding a secured area to garage his car.

It’s also important to have his Ferrari be insured by an insurance company that specializes in insuring expensive cars. By doing this, you will be assured that you are dealing business with people who know what’s best when it comes to sports car.

How do I know if I should get sports car insurance? I’m planning to buy a second-hand car, and I intend to use it for drag racing. Does it qualify as a sports car already?

Alvin

Anaheim, California

A car can only be considered as a sports car if it passes the standards set by the car insurance company. Of course, each company has its own set of qualifications–that’s why there really is no single set of standards that everyone could use. Normally, car insurance companies rely on the Insurance Services Office (ISO) Vehicle Identification Number Monitoring System for ranking and classification purposes. This system is considered as the most flexible and efficient method of providing automated rankings and underwriting based on a specific set of standards. It involves a software that runs on a computing system (centralized or distributed) and accesses various databases.

Listed below are some of the points that are taken into consideration while doing the car ranking and classification:

• Model type and series
• Manufacturer
• Body style
• Class code
• Gross car weight
• Car height
• Engine type
• Cylinders
• Horsepower
• Restraint indicator
• Transmission
• Anti-lock
• Anti-theft
• Curb weight
• Wheel base

Typically, if a car has features of a high performance car and is used as a sports car, then you can expect it to have a sports car insurance policy. You may check the Web for companies that offer sports car insurance there in California.

I am planning to buy a sports car. Is it true that sports car insurance costs more?

Ned

Seattle, WA

When shopping for a car, it would be very wise to check the cost of insurance first. Ask an insurance agent how the type of car you are planning to buy will be categorized. You have to expect, though, that sports cars belong to the higher category, and as such will cost more to insure. Sports cars which have high horsepower are typically chosen by risky and thrill seeking drivers. So, the possibility of it being driven faster than usual is very likely. This essentially means that the car will most likely end up being crashed. These types of vehicles are also very costly to repair because of its special parts. Moreover, these kinds of vehicles are very likely to be stolen because of its cash value. The size of the sports car is another very important consideration, as well. Insurance statistics show that smaller sized sports vehicles have been involved in more car insurance claims than other types of vehicles. These factors affect the assessment of rates of your sports car insurance. You will definitely have to pay more on your Collision and Comprehensive Insurance. However, you can get to save on this coverage for your sports car insurance if the car you will buy is loaded with safety features such as traction control, automatic locking seatbelts, airbags, etc. Shopping around for sports car insurance has also proven to help customers find the most reasonable rates in the market.

What can I reasonably expect once I get insurance for my sports vehicle here in Texas?

Hipolito Z.

San Antonio, TX

Good question, the first thing to expect when you start looking for a suitable sports car insurance coverage is that premiums would most likely be high. If you are wondering why, sports cars are not the safest, most timid kind of vehicles around, nor are they the unpopular kind among car thieves. These type of vehicles are usually built for speed (and for showing off), hence the greater the risk of you getting into car accidents like colliding with another vehicle, person or object while trying to fulfill your NASCAR fantasies. Vandalism and theft is another danger when owning a sports car, increasing the likelihood that you would file a claim for these incidents in the future.

It is no secret that sports vehicles are also quite expensive, so one would need to buy a policy with adequate levels of coverage to protect the financial value of the said vehicle. Put a hormone-raged teenager behind the wheel and you have the perfect recipe to getting one of the most expensive car insurance premiums around.

So does this mean that you should forget the idea of getting cheap sports car insurance? Not necessarily! There are still ways to make for a relatively affordable insurance for a sports car. Take extra precautions. Parking your sports car inside a garage (when not in use) can already help lower premiums. Carriers that specializes on sports vehicles would probably give better rates. You can also run free auto insurance quote checks on this website to easily identify and compare companies that offer the best rates for your sports car.

Will sports car insurance be more expensive than the regular coverage?

Ben

Columbus, OH

Car insurance companies divide cars into twenty different categories. Those that belong to the higher ranks are considered high-performance cars and are generally more expensive to insure. Sports cars belong in this category. This is because a car with a powerful engine can really speed up, and you know what can happen when you’re speeding. Because of its capacity to reach high velocities, these types of cars also generally cause more damage in car accidents. Drivers of this type of vehicles have also been reported to file more expensive claims. This is because the engine and parts are more costly to repair or replace.

However, this does not mean that you should just accept those ridiculous rates given to you because you own a high-performance car. Doing your own research is very crucial in finding that reasonable rate in the market. You may ask your friends who own sports cars where they get their sports car insurance. You may also speak with a broker that represents multiple car insurance companies so that you get multiple car insurance quotes. Better yet, do your own shopping over the Internet. Most car insurance providers offer sports car insurance. As there are over 500 major carriers, finding the best sports car insurance that suits your needs has been made even more convenient. Most websites obtain quotes from different companies in your area, too. So, you get to compare the coverage and price more quickly and effectively.