It isn’t just high-end sports cars like Lamborghinis, McLarens, or Bugattis that come with higher car insurance costs; lower-priced models like the Hyundai Veloster and the Subaru BRZ also cost more to insure than standard daily drivers.
But shopping around and comparing rates before you buy coverage can help you save on car insurance rates for your sports car, no matter what model you drive.
How much is car insurance for a sports car?
Generally, sports cars are more expensive to insure than their less-sporty counterparts. But car insurance rates for a sports car will vary based on a number of factors, including your driving history, your ZIP code, and which insurance company you choose.
To get a sense of how much car insurance costs for a sports car, we got sample quotes for a 2017 Chevy Camaro SS from four top insurance companies and found that the average cost to insure it was $3,582 a year. Here’s how it broke down by company:
The best way to make sure you are getting the lowest price on your car insurance is to compare quotes between multiple companies — even with a sports car, you’ll save money by comparison shopping to find your lowest rate.
Why would my insurance be higher if I own a sports car?
Sports car insurance costs are higher for multiple reasons. The more expensive a car is to buy, the more expensive it is to replace if it is totaled or stolen, so the higher price tag that comes with a sports car makes it more expensive to insure.
How much does a sports car add to insurance?
There are a variety of different sports cars and they each have their own unique effect on your car insurance rates. After all, a Mustang is going to have a different insurance rate than a Corvette. You should expect a sports car to cost several hundred dollars (or more) for car insurance coverage each year than a family sedan or SUV.
For example, the BMW M3 is considered a sports car and the BMW 530i is not, which shows in the different car insurance rates for the two vehicles. The chart below shows the average rate for both cars with several top insurance companies:
What cars are considered sports cars on insurance?
If a car is sold as a “sports package” or advertised as “turbo-charged” you will likely pay more for insurance, but the horsepower, speed capabilities, motor size, and number of cylinders all play a part in how your car is rated for insurance purposes.
That said, there are some makes and models that are typically considered sports cars, including:
Honda Civic Si
Volkswagen Jetta GLI
Mazda MX-5 Miata
While nobody is surprised to see a Corvette or a Mustang listed as a sports car, some vehicle designations may surprise you. For instance, most people think of a Honda Civic or a Volkswagen Jetta as a basic, affordable car that is perfect for teenage drivers, but the Honda Civic Si and the Volkswagen Jetta GLI are both considered sports cars.
How can you save money on sports car insurance?
Sports car insurance doesn’t have to be expensive — there are multiple ways to save money on car insurance even with a sports car, including:
Keep your driving record clean: The best way to keep your insurance rates low is to avoid accidents and moving violations, which means not speeding, even if your sports car has a superpowered engine.
Bundle your coverage: Getting multiple insurance policies, like both your home and auto insurance, from the same company can earn you a discount.
Take a defensive driving course: Depending on the insurance company, taking a safe driver or defensive driving course can lower your rates by 5% to 20%.
Compare quotes: Rates for the same sports car can vary between insurance companies, sometimes by several thousand dollars a year. Comparing quotes is the fastest, easiest way to get the lowest possible rate on your car insurance.
Policygenius used online quoting systems provided by carriers to get sample quotes for two different sports cars. We used the following coverage limits to calculate the cost of full coverage for drivers:
Bodily injury liability: $100,000 per person, $300,000 per accident
Property damage liability: $100,000 per accident
Uninsured/underinsured motorist coverage: $100,000 per person, $300,000 per accident
Comprehensive: $500 deductible
Collision: $500 deductible
Our sample vehicle was a 2017 model driven 15,000 miles/year. Our sample driver was a 30-year-old single male with a clean driving record living in ZIP code 75007. Rates provided are a sample of costs. Your actual quotes may differ.