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Compare convertible insurance
Be sure your fun in the sun isn’t ruined by inadequate coverage.
Most owners purchase a convertible assuming they’ll pay more for auto insurance in exchange for the fun of driving it — but that’s not always the case. Your premiums will vary widely based on the make and model of your convertible and how often you drive it.
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What kind of convertible insurance coverage do I need?
Below are the most common types of required coverage for convertibles. Keep in mind that legal requirements for types of coverage and amounts will vary by state.
- Comprehensive. Soft-tops especially call for a comprehensive policy to make sure theft, weather damage and vandalism are covered.
- Liability. Most states require this coverage regardless of the car you drive, to make sure any damages you cause are covered.
- Uninsured Motorist. Uninsured or underinsured motorist coverage is often also required by the state. But even if it’s not, it’s a good idea to make sure you’re not stuck paying for costs related to an accident that wasn’t your fault.
- Personal Injury Protection. This part of your policy covers costs associated with your injuries regardless of who is at fault in the accident. The few states with no-fault laws require this coverage.
What convertible add-on coverage should I consider?
There aren’t any add-ons specific to convertibles, necessarily. But you may want to consider the following extras — especially if you’re going to drive your convertible in the winter months:
- Roadside assistance. Getting trapped in stormy weather with nothing but a soft-top to keep you warm could be dangerous. If you’re going to drive your convertible in winter, consider a roadside assistance add-on.
- Classic car insurance. If your convertible is a classic car, this coverage will make sure coverage extends to the stated value of the car, rather than the actual cash value.
- Mechanical breakdown insurance (MBI). If you’re driving a new convertible with low mileage, your carrier may offer MBI, which could help you to repair the roof mechanism in your car should something happen to damage it.
- Seasonal coverage. If you won’t be driving your convertible in winter, consider saving on coverage with a seasonal policy.
Do different kinds of convertibles have different insurance requirements?
While convertibles on the whole will usually cost more to insure, there are some specifics to keep in mind:
- Soft-top convertibles. The soft top on your convertible makes theft and break-in easier, making it more expensive to insure.
- Hard-top convertibles. While less prone to theft, the hard top on your convertible does increase the weight of the vehicle, which can increase your premium. So while your hard top will still cost less to insure, the difference will probably only be a few dollars a month.
- Luxury convertibles. Not all convertibles are luxury vehicles, but if yours is, expect to pay a premium commensurate with how expensive the car would be to repair or replace.
- Hybrid convertibles. With only a couple of hybrid convertible models on the market, it’s hard to predict what yours might cost to insure. But hybrids generally tend to cost more to insure overall, because they are more expensive than their gas-powered equivalents — and because they are more expensive to repair, requiring specialty mechanics.
- Electric convertibles. There are more electric convertibles than hybrid convertibles, but still not enough to exactly predict insurance rates. But electric cars have historically cost more to insure than gas-powered cars for similar reasons to hybrids. New technology, specialty technicians and higher base prices make for higher insurance rates.
- Sports-model convertibles. Sports models usually have higher horsepower making them a speeding risk, a higher rate of theft, and if you own an older model, fewer safety features. All of this makes sports model convertibles more expensive to insure.
Which convertibles have the cheapest insurance?
Getting lower insurance rates on a convertible is all about what make and model you purchase. A luxury car is always going to cost more to insure, but according to Insure.com, the following are some of the least expensive to insure, many of which have premiums below the national average:
- Jeep Wrangler. Even with the soft removable top, removable doors and a removable windshield, this convertible will have lower premiums if you get the most basic model — which has less equipment to steal or repair.
- Fiat 124 Spider. The engine is turbocharged, but it doesn’t need to be very powerful because the car is so lightweight — leading to a lower premium.
- Mazda MX-5 Miata. The soft-top on this car actually translates to a lower insurance rate, because the hard top requires a much more expensive mechanism to operate.
- Mini Convertible. The lower sticker price and lower horsepower on this model can lower your premiums, too.
- Chevrolet Camaro. As a modern muscle car, its weight and horsepower make it more expensive than some other convertibles. But because the most basic trims only come on the convertible coupe, it costs less to insure than the fixed-top version of this car.
What should I watch out for?
Very few insurers offer policies specific to convertibles, so it’s on you to make sure issues and risks specific to driving one are covered by your policy.
- Vandalism. Whether your soft top gets cut or ripped or your hard top gets scratched or dented, repair or replacement of convertible roof parts can be more expensive than what a standard policy would cover.
- Weather damage. A surprise rainstorm could do a lot of damage to a leather interior in the time it takes you to safely pull over and put your top up. Your comprehensive policy should cover costs associated with weather damage, but it’s worth making sure with your agent.
- Accidental damage. On a nice weather day, you may be tempted to leave your roof down while you run into a shop on an errand. But most insurance policies won’t cover any theft, weather damage or vandalism that occurs if you leave your car open while parked.
You shouldn’t skimp on your coverage, even if your convertible’s make and model is on the pricier side to insure. Take the time to compare your insurance options, and protect the fun of your ride with a policy that meets all your needs.
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