The right policy can help get speedy repairs for your fast car.
Sports cars are notoriously expensive to insure, and even more expensive to repair if you don’t have the right coverage. Compare sports car policies that fits your needs and budget.
Enjoy having your own dedicated agent to help you get the best discounts and coverage.
Best car insurance for sports cars: Allstate
Compare sports car insurance
What insurance do sports cars need?
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:
- Full-coverage insurance. A full-coverage policy includes liability, collision and comprehensive insurance. It’s the most expensive option because it provides the most protection for your car.
- Track day coverage. Standard insurance won’t cover your car while it’s on a racetrack. If you’re feeling the need for serious speed, check with your insurer before hitting the track.
- Modifications. Your insurer may allow you to make a number of preapproved modifications or agree to insure your already modified car.
- International coverage. If you’re planning to race in another country, check to make sure your insurance will cover you.
- Soft roof coverage. Get coverage for the soft top on your convertible.
How can I save on my sports car insurance?
To get a lower premium:
- Increase security. If your car is not currently fitted with an alarm, think about adding one to reduce your premium.
- Have a secure location to park your car. Cars kept in a locked garage or on a secure driveway are usually cheaper to insure.
- Limit your mileage. Letting your insurer know about a reduction in your mileage could result in cheaper insurance, especially if your sports car is a second car.
- Increase your deductible. Agreeing to pay a bigger deductible after an accident could make your overall premium cheaper. But remember that your insurer won’t pay out for a claim that costs less than your deductible — don’t make it higher than you’re willing to pay.
- Add experienced drivers. Adding an older and more experienced driver to your policy could help to lower the premium.
- Limit optional extras if you don’t need them. For example, if you never intend to race your car, you don’t need track day coverage.
- Avoid paying monthly. Some insurers will offer a discount if you pay your premiums annually.
- Limit modifications. Modifying your car will likely raise your premiums.
- Advanced driving course. Completing an advanced driving course, also known as a defensive driving course, can earn you discounts with some providers.
- Shop around. Compare quotes from different insurers to get the best rate. And compare again instead of automatically renewing when your policy is up.
How much does sports car insurance cost?
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.
Average insurance rates for popular sports cars
| Sports car make & model | Average monthly insurance rate |
|---|---|
| Audi R8 | $197 |
| Chevrolet Camaro | $154 |
| Dodge Challenger | $245 |
| Ferrari 488 GTB | $783 |
| Fiat 124 Spider | $238 |
| Ford Mustang | $166 |
| Jaguar F-Type | $148 |
| Mazda MX-5 Miata | $152 |
| Nissan GT-R | $158 |
| Porsche Macan | $220 |
Why is sports car insurance so expensive?
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:
- Driven faster and are therefore more likely to be involved in accidents
- More likely to be targeted by thieves
- More expensive to repair
- Repaired only by certified or specialized mechanics
- Imported or modified
Bottom line
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.
