Auto Insurance for Convertibles

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Things to remember...

  • Convertibles are expensive to purchase thus a little more costly to insure
  • The national average auto insurance rate for a convertible is around $200 per month, however, rates vary greatly amongst insurers
  • When purchasing auto insurance for a convertible, make sure that you purchase coverage higher than your state’s minimum requirements
  • Because convertibles are among the most stolen vehicles in the United States, when purchasing auto insurance for your convertible, it is recommended that you include comprehensive coverage
  • Hardtop convertibles are slightly less expensive to insure as compared to soft top convertibles

Convertibles are cool, they are fun to drive around in, and they will turn even the most boring of an expedition into an adventure. Most people fancy convertibles and will jump on the first opportunity of owning one of these beautiful creations.

However, for a sizeable portion of the American population, owning a convertible will remain a pipedream. The exorbitant cost that comes with owning a convertible is just too steep for most of us.

Any convertible model, even the cheaper ones are more expensive than regular vehicles, and that’s just the sticker price. Associated ownership costs are just as high, including auto insurance coverage.

You will need more than basic coverage for a convertible. Some auto insurance providers will not even provide coverage for high-end convertibles.

When shopping for a car insurance policy for your convertible, start comparing quotes early. You should then compare as many quotes as you can if you want to get the best rates. Get started comparing today with our free rate tool.

Soft Top Convertibles vs. Hardtop Convertibles


Soft-top convertibles have a higher risk of theft and vandalism. For instance, someone can easily slice the top of your convertible, an act of vandalism, to either steal the car itself or make away with some of your belongings.

On the other hand, hard tops considerably add weight to your convertible. Added weight to your convertible can factor into your auto insurance rates.

Why are convertibles so expensive to insure?

The number of factors considered in the calculation of auto insurance rates is quite large. Take a look at a few of these factors:

– Weight

Compared to their size, convertibles are significantly heavy vehicles. Their weight and low center of gravity contribute to the high stability of convertible cars.

The chances of a convertible getting to roll while negotiating a corner are very minimal thus making the vehicle safer.

But that’s not the point. Insurers tend to give higher quotes to heavier vehicles. The logic behind this fact is that a heavier vehicle would need more horsepower to give the level of performance we have seen in convertibles.

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– Theft and Vandalism

Sporty convertibles are ranked among the most stolen vehicles in the US. Soft-top convertibles are mostly targeted by car thieves and people looking for valuable items to steal in cars because they are easier to break into.

Due to their visibility, convertibles are more prone to vandalism hence higher rates. You can install tracking devices and other anti-theft measures in your convertible to bring auto insurance costs down.

– High Horsepower

Generally, you should expect higher auto insurance rates if your car is a V6 or V8 powered convertible. The higher the horsepower, the higher the speeds which increase the probability of an accident hence higher auto insurance rates.

When a high horsepower car gets into an accident, in most cases the damage is so extensive if the car is not totaled, so the insurance company will spend a great deal of money either replacing or repairing your car.

This horsepower/insurance cost relationship is not exclusive to convertibles only; it applies to all high horsepower vehicles.

– Expensive To Buy

This is pretty straightforward, the higher the price of a car the more expensive it is going to be to insure it. Convertibles can be extremely expensive to purchase.

The high cost of replacement or repair will send auto insurance rates through the roof. Again, this applies to all luxury vehicles.

Other Factors That Might Affect Your Auto Insurance Rates


  • Type of coverage – If you are going to buy a convertible, you’d better purchase the right amount of coverage. Make sure you include comprehensive, collision, as well as uninsured/underinsured policies on top on the state-mandated coverage.
  • Your age and gender – Young, inexperienced drivers will always get higher quotes regardless of the car they drive. Young male drivers are likely to get higher rates than their female counterparts.
  • Your neighborhood – The place you live in and park your car will significantly affect your auto insurance rates. If your neighborhood has higher insecurity issues, then you should expect higher rates.
  • Mileage – How much you drive your car can raise or lower your rates. A higher mileage count means higher rates and vice versa. The more time spent behind the wheel, the greater the chances of getting in an accident.
  • Deductibles and Limits – The deductible is the amount of money you agree to pay towards the damages resulting from the occurrence of a covered incident before your policy comes through. Your limit is the extent of your coverage.

Purchase the right coverage from a credible insurer and make sure that you carefully read the policy and ask the right questions before you accept the deal. Speak to an agent before you purchase coverage for your convertible.

Compare quotes today using our free rate tool to find the best price for auto insurance.

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