For many people, owning a sports car is an esteemed privilege. However, that smooth ride comes at a price: higher auto insurance premiums. If you’re wondering what affects this rate, then use the following guide as a helpful resource before buying a sports car.

What Defines a Sports Car? 

Most auto insurance companies recognize sports cars in a different category from standard passenger vehicles. They may refer to these as “high-performance vehicles,” and have specific stipulations for speed, build, and fuel economy. Most sports cars will have powerful large engines, enhanced horsepower, and have a sleek lightweight build that sits low to the ground. They’ll also reach higher speeds than standard cars, and may even have race-level components.

What Factors Affect Premium Costs? 

Accidents

Due to the higher speed and horsepower capabilities found in sports cars, drivers are more likely to end up in dangerous situations like tire blowouts and collisions. Since the liability of an accident increases when driving a sports car, so do premium costs.

Repair & Replacement

If you were to get into an accident while driving your sports car, the required repairs would be more expensive than a standard vehicle. That’s because the parts are often high-quality, and possibly quite rare. The parts may also be imports from foreign countries. Sports cars are more attractive prizes for thieves and more expensive to replace.

Safety

Yet another reason why auto insurance premiums are higher for sports cars is that they often lack the safety features of standard, more family-focused cars. Older sports cars are especially notorious for lacking cross-body seatbelts, airbags, and crumple zones.

If you’re looking for a reliable agent to help you find the right auto insurance policy for your vehicle, turn to Farmers Insurance Group. Our company began in 1928 and now works with talented agents like Steven Hall to bring you personalized coverage in a variety of areas. Whether you need home, life, or health insurance, you can learn more by browsing our website. To speak with an agent and ask for a free quote, call (417) 926-7900 today.