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Sports Car Insurance

The price of auto insurance for sports cars may seem abnormally high compared to the average sedan. There are a number of factors that contribute to the high price tag for sports car insurance including the high risk for accidents due to speed, the cost of expensive repair parts, and the increased risk of theft. However, there are ways that you can get a good car insurance rate on a sports car. Shopping around for the best rate is the smartest choice to avoid overpaying for insurance. Keep reading to learn more about sports car insurance.

What Qualifies As A Sports Car For Insurance Purposes?

Traditionally, sports cars are high performance vehicles which often have two seats, two doors, and a low sitting body.  They are often lighter than sedans to help add to their agility. Sports cars tend to have eight cylinders instead of the traditional four to give them more power. Additionally, an auto insurance company will take into account the make, model, and body style when classifying a vehicle as a sports car.

What Makes Sports Cars More Expensive To Insure?

Sports cars tend to be faster, have more horsepower, better maneuverability, and a higher price tag.  Many people love to drive sports cars. However, they may not like how much they have to pay for auto insurance.  The primary reason that insurance for these vehicles is more expensive is that they have been shown to be involved in more accidents resulting in higher number of claims filed with the auto insurance company with a higher dollar figure attached to these claims. Therefore, insurance companies make up for the risk by charging higher rates.  Furthermore, sports cars often tend to be more expensive to repair than other vehicles, another factor which is added into your car insurance premium. Sports cars are also stolen at higher rates. Additionally, sports cars are more likely to be vandalized than other types of vehicles.

MORE: Find the Best Classic Car Insurance Companies

How Can You Save Money on Your Sports Car Insurance?

Because sports cars are fast cars that pose a higher risk of accidents with personal injury, getting enhanced safety features added to your vehicle can help to save you money on auto insurance.  Furthermore, because these vehicles are more likely to be stolen and vandalized, upgrading your car’s security system can also save you money insuring a sports car. Moreover, to keep your insurance down, it is important to keep your driving record free of moving violations no matter how fast your car can go. If you do not drive this vehicle as your primary vehicle, you could also save on your car insurance. Most importantly, you should always shop around for quotes before you purchase insurance. If you prefer to shop online, here is a comparison of the 3 largest direct to consumer insurance companies: Geico, Progressive, and Esurance.

Final Thoughts

The type of car that you drive is a significant factor in determining your auto insurance rate.  This is especially true for sports cars. Auto insurance companies charge more to insure sports cars to cover their increased risk.  If you can afford the bill, there are ways that you can reduce your insurance rate such as improving your car’s safety and security features and keeping our driving record violation free. Also, always make sure you shop around either directly or on comparison sites for the best rates and have the most popular discounts applied to your policy.

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