Insuring a sports car can mean that these car owners are paying some of the highest car insurance rates in the area. As everyone has opportunities to lower the rates they pay for the year, sports car drivers also can take these same opportunities.
Because sports cars present special problems for car insurance companies, owners of these cars may want to address these issues first when they are seeking ways to lower their sports car insurance.
Protect the Sports Car from Being Stolen
The main reason that an owner of a sports car will be charged premiums that are higher than for other vehicles is because these cars are stolen so often. If they are stolen and never returned to the owner, their comprehensive coverage requires that the insurance company offer them the market value for the car.
Because these cars are often very expensive, the amount auto insurance companies will need to pay will be very high. ?Try our FREE quote comparison tool on our website for FREE!!
When sports car owners lower the risk the car insurance will have to take on by insuring their vehicles, these policy holders will be able to lower their premiums. Sports car owners can do this in several ways:
- Have OnStar or some other GPS installed in the vehicle
- Install other types of anti-theft devices, such as car alarms
- Park the vehicle in a private garage at night
- Park the vehicle in a well-lit area when driving at night
- Place a sticker on the window informing potential thieves that the car is protected by one of the above anti-theft devices
After sports car owners have done one or more of the suggestions listed above, they can see a reduction on their comprehensive coverage by five to 25 percent depending on the insurance company.
Take a Safe Driving Course
A less common reason for high premiums on sports cars is the cost of repairs, but there are reasons why a sports car is more costly for car insurance companies to repair. A sports car is a high performance vehicle that takes the driver to very high speeds in shorter and shorter time periods, and drivers are often tempted to test the claims made in the advertisements for these vehicles.
Because sports cars are often involved in car collisions at high speeds, these are vehicles that have much more serious damage than more economical vehicles. For this reason, collision coverage on these cars will be higher because the insurance company will need to pay more money to repair extensive damages on a sports car.
Sports car drivers can lower the amount of money they pay for their collision coverage when they volunteer to take safe driving courses. These courses inform the insurance company that these policy holders are committed to being safe drivers every time they take their cars on the roads.
Prevent Serious Bodily Injuries
The injuries tend to be more serious in car collisions that involve a sports car because statistically, these drivers have been traveling at higher speeds than other drivers in other types of vehicles ordinarily do. If sports car drivers have cars that have seat belts and air bags, they will receive a discount for these safety devices.
Sports car drivers can also reduce their premiums by forgoing optional coverage such as Medical Payments. Medical Payments would pay the medical bills for the policy holders and their family members, but if they maintain adequate health insurance, adding this coverage to their auto insurance would be unnecessary.
Agree to a Higher Deductible
As sports car drivers agree to pay a higher deductible, they will be lowering the risk that the car insurance company is taking with them. The deductibles are the amount of money that policy holders agree to pay when they file a claim for their collision coverage after an accident.
The higher the deductible, the lower the risk to the car insurance company, and they can lower these policy holders? auto insurance premiums.
Seek Several Discounts for Sports Car Insurance
If a sports car is only driven on occasion, the sports car owner can obtain auto insurance?discounts for a couple of reasons.
Some people have?vehicles that they use to take them to the places they need to go on a regular basis and only drive their sports cars on the weekends. If this is the case, they can obtain a low-mileage discount for their sports cars.
The fact that people have two or more vehicles will mean that they can insure all of these cars with one insurance company for a discount. If the sports car is only driven on occasion, these policy holders will receive the largest discount when they seek to receive the multi-car discount.
People who drive sports cars will need to demonstrate to their insurance companies that they can be responsible and safe drivers. When they do this, they can receive several other discounts for many reasons, including:
- Maintaining high credit scores
- Never receiving a DUI
- Not receiving points on their driving records for reckless driving or speeding
- Purchasing other types of insurance with the insurance company where they have car insurance, such as homeowner?s and life insurance
Lower Sports Car Insurance by Receiving Several Quotes
Owners of sports cars are the car owners most in need of the free services of a auto insurance comparison website. These vehicles are typically given the highest rates, but car insurance companies exist that give these car owners surprisingly low quotes for their sports cars.
Sports car owners will only need to type in their zip codes to receive several advantageous car insurance quotes. ?Start saving BIG by entering your ZIP into our FREE quote comparison tool.
By doing a comparison search and also following the five tips in this article, sports car owners can manage to lower their car insurance rates to a much more reasonable amount than they are paying their current car insurance companies.
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