Best car insurance for sports cars: Allstate
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Sports cars are notoriously expensive to insure but even more expensive to repair if you don’t have the right coverage. Compare sports car policies that fit your needs and budget, including what to expect for young drivers.
To get a lower premium, you can:
The average monthly cost of car insurance is in the $200 range, depending on the car model. That puts the average annual insurance cost upwards of $2,400 for most sports cars, much higher than the average $1,300 for most car models. Compare insurance rates for some of the most popular sports car models.
|Sports car make & model||Average monthly insurance rate|
|Ferrari 488 GTB||$783|
|Fiat 124 Spider||$238|
|Mazda MX-5 Miata||$152|
Sports car insurance is designed to cover high-performance cars built to go fast. These compact cars usually have two seats and are set much lower to the ground in order to increase speed and perform better around corners.
The type of coverage you need depends on your budget and car. Coverage options include:
Car insurance companies don’t have an official definition for sports cars that regulate these cars’ premiums. But many companies charge more for cars with high-powered engines, convertible tops and high ticket value. These are often defining characteristics of sports cars, leading to higher rates for this type of car overall.
Young drivers under 25 years old tend to see the highest car insurance premiums across all age groups. For example, drivers between ages 18 and 21 typically pay $3,900 per year. Those between age 22 and 25 typically pay $2,800 per year. Those numbers are $2,600 more than the national average for 18- to 21-year-olds and $1,500 above average for 22- to 25-year-olds.
Consider that your car insurance premium will rise even more after factoring in the high premiums typical for sports cars. You could lower the overall premium by shopping for car insurance companies that cater to young drivers.
Like traditional car insurance, sports car insurers will look at several factors when calculating the risk and premiums of a sports car and its driver.
Sports cars are more expensive to insure because they can be:
If you own a sports car, you’ll likely pay more for car insurance than someone who owns a minivan. But that doesn’t mean you should just accept the first quote you see. Save money by comparing quotes from different insurers before purchasing a policy.
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