From the Maserati to the Mazda, sports cars offer drivers and passengers an experience other vehicles simply can’t match. However, to truly enjoy the ride, you’ll need to know that your investment is covered by the right auto insurance policy. If you’re hoping to learn more about this specific type of coverage, take a look at the following guide.
What Defines a Sports Car?
Every insurer has its own guidelines for the “sports car” category of auto insurance. They may also refer to this category as “high-performance vehicles.” To decide if your ride is, in fact, a sports car, they’ll first consider the manufacturer and model. For example, while a Porsche may automatically fit the label, not all Nissan cars will.
They’ll also consider the size of the engine and how much horsepower it has. Most insurer-recognized sports cars are low to the ground, have sleek bodies with two doors, and are incredibly responsive to pressure on the accelerator.
What Factors Affect Premium Costs?
Compared to standard vehicles, sports cars are more expensive to insure. That’s because they’re often more valuable than your typical sedan or compact car, which makes them pricier to repair or replace. Since they have more power, you’re also likely to drive them faster, which increases the risk and potential severity of a collision. Finally, criminals are more likely to try and steal sports cars, which raises the risk of theft claims.
Premium rates will also vary within the sports car category. For example, the higher the horsepower, the more expensive your ride may be to cover. If you’ve bought a model of which few are made, such as a limited-production Lamborghini, your costs will certainly be higher than the driver of a mass-produced Mazda RX-7. Of course, your insurer will also consider the safety features of your particular vehicle. Vintage sports cars with fewer advanced features will raise the potential for life-threatening injuries, resulting in higher premiums.
If you’re hoping to insure your sports car for a fair rate, turn to Lafever Insurance Agency of Cookeville, TN. With over three decades of experience, you can trust their team of agents to help you find the right auto insurance policy. Based on your budget, your car, and your needs, their agents will shop for the best possible deal. To learn more about their offerings, including motorcycle and mobile home insurance, visit the website or call (931) 526-3377 to request a no-obligation quote today.