According to ValuePenguin, sports cars that can go from 0-60 in less than 3.5 seconds usually cost 16% more to insure. Each of these factors increases the chances of a driver filing a claim, so to accommodate this increased risk, insurance companies will charge higher rates.
How much does insurance increase with a sports car?
Being a savvy consumer, you’ve decided to do some research on how “fun” your car can be before you get dinged on the insurance for having one of the most expensive cars to insure. Sports car insurance rates average $221.25 per month or $2,655 per year.
Do you pay more insurance for a sports car?
Insurance for sports cars can be expensive, and the more horsepower your vehicle has and the more it costs, the higher your insurance rate. … You might still be able to get discounts for things like bundling policies and safe driving, even if you drive a high-performance sports car.
How much do sports cars cost to insure?
Average Auto Insurance Rates for the Cheapest Sports Cars to Insure
|Vehicle Make and Model||Average Monthly Full Coverage Rates||Average Annual Full Coverage Rates|
|BMW Z4 Roadster||$120.33||$1,444|
|Fiat 124 Spider||$130.17||$1,562|
What makes a car more expensive to insure?
And as a general rule, more expensive cars cost more to insure because of the increased costs associated with repairing them, replacing parts — especially on foreign brands — or replacing the vehicle in the event of a total loss.
How much is insurance on a sports car for an 18 year old?
Average Insurance Costs
Car insurance for an 18-year-old costs quite a bit, especially compared to typical rates for other age groups. On average, an 18-year-old will be paying $5115 per year for insurance if they have their own policy with liability limits of 100/300/100, according to CarInsurance.com.
Does a V8 cost more on insurance?
Vehicles with more powerful engines, such as a V8, will cost more to insure than a vehicle with a smaller engine. … So, in the case of the engine, size does have a correlation with rates.
Is a Camaro considered a sports car for insurance?
The Camaro is a sports car (and a powerful one at that) so young drivers often find Chevy Camaro car insurance rates high. … The Chevy Camaro is considered a sports car and for most drivers will command a higher premium than a family sedan simply based on all things being equal – the nature of the car.
Are muscle cars more expensive to insure?
Insurance companies take several factors into consideration: High performance car parts are often more expensive. If you are in an accident, getting the right parts, which may be in limited production, is likely going to cost more than parts for a car that is mass produced.
How much more is insurance for a 2 door car?
How much more is insurance for 2-door cars? So, what is the insurance cost difference between coupe and sedan? According to our data, the average premium for a 2-door coupe is $2,542, which is $400 or 18.7% more than a sedan.
What sports cars have cheap insurance?
According to Autobytel, these are the cheapest sports cars to insure and their average annual insurance rates:
- Fiat 124 Spyder: $1,353.
- BMW Z4 Roadster: $1,561.
- Chevrolet Corvette Stingray: $1,562.
- Subaru BRZ: $1,580.
- Porsche Boxster: $1,580.
- Audi TT: $1,584.
- Chevrolet Camaro SS: $1,606.
- Ford Mustang GT: $1,656.
How much is insurance for a sports car for a 20 year old?
Average Car Insurance Rates by Age
Take a look at the average annual rates based on age: 18 years: $7179. 19 years: $6021. 20 years: $5333.
What classifies a sports car for insurance?
Which cars do insurance companies consider “sports cars”? Generally, a sports car is defined as having a high horsepower engine, two seats, and a smaller overall size than a typical sedan. This is a very general definition, however, as insurers may classify certain automobiles differently than others.
Are older cars cheaper to insure?
Older cars are cheaper to insure than newer cars, all else being equal. An older vehicle is cheaper to insure mainly because older cars are less valuable, so an insurer won’t have to pay out as much in the event of a total loss. … You can drop these parts of your insurance altogether and save money.
What color cars are cheaper to insure?
You may have heard red cars are more expensive to insure. But, according to the Insurance Information Institute (III), the color of the car you drive does not affect the price of auto insurance.
What is the most expensive car to insure?
This year’s five most expensive new cars to insure
- Maserati Quattroporte S GranSport: $4,823.
- Maserati Ghibli S Q4 GranSport: $4,208.
- Tesla Model S Performance (Plaid): $4,143.
- Tesla Model X Performance (Plaid): $4,025.
- BMW M760i xDrive: $3,914.