Sports Car Insurance

Reader’s Question:

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.